France is well known for its highly established banking system, which provides a range of products and solutions to its citizens. This includes access to a wide variety of banking products, including online banking, as well as 24/7 customer support.
With many opportunities being given to foreign entrepreneurs and businesses to open a company in France, the banking system has paced up its efforts to provide online banking facilities. This has made opening a bank account, along with other financial products and services, much simpler than ever before.
In this guide, we'll show you how easy it is to open an account with a French bank, as well as provide some tips on how best to use this service.
Sinan Elver
Why does your business need a business bank account in France?
A bank account is an important part of running a business in France. It allows you to easily receive and pay bills, as well as access a range of financial products and services. Having your own bank account also gives you peace of mind, knowing that you have control over your finances. This can be especially beneficial if something should happen to the business’s bank account or if there are any problems with its transactions. Apart from this, there are multiple reasons why you should have a business account in France if you are running a business as a foreigner.
- A business bank account in France can help you to receive payments from your clients.
- It makes it easier for you to get loans and access other financial products.
- It can also make it easy for you to receive tax breaks and subsidies when filing your taxes.
- Accountants in France are required to follow strict rules and be exact when it comes to their accounting. With a separate bank account, you will be able to manage your accounting more easily, affordably, and in a shorter amount of time.
- Most importantly, a business bank account in France will give you peace of mind, knowing that your company is well-organised and financially stable.
Can you open a French business account online?
In France, many traditional banks do not offer account openings online, but there are a few banks that do. Before you open an account with a French bank, it is important to decide which one would be best for your specific needs and preferences.
Before you even begin the procedure, you'll frequently need to speak with a business advisor. Your advisor will then discuss your goals with you, determine whether or not you should be provided with credit services or a loan, and then reach a decision regarding your application. This might take time.
Sinan Elver
If you want your business account to be opened urgently, you can look up fintech options that offer French business banking online. These options usually require a minimal amount of paperwork and you can open your account without having to visit them in person. These companies are online-only banks or mobile app solutions that are provide a very reliable, fast and secure way to get your business account without any hassle.
French Banks that provide business accounts
There are a number of French banks that offer business accounts. If you are already in France, you might be familiar with some of these banks. Some popular French business banks that offer accounts for foreign businesses include
These banks are known as traditional banks and offer a wide range of banking products and services to businesses including loans, leases and mortgages. However, it is important to check the terms and conditions of any business bank account before signing up, as some banks may have stricter lending criteria than others. It's also good to be aware that traditional banks generally take more time to process applications and other financial products. Any slight mistakes or omissions on your part can delay the process by weeks or lead to rejections.
Popular alternatives to traditional French banks that offer business accounts.
If you are located outside of France, some online banking service providers such as Wise, N26 and wamo provide banking products and services in over 30+ countries. These platforms allow you to open a business account in just minutes, without having to visit a physical bank branch or fill out numerous paperwork forms. Furthermore, they often have lower conversion fees than traditional French banks and can offer more flexible terms and conditions when it comes to eligibility requirements and other financial products.
Laine Redpath
You can open a business account in France with wamo in 10 minutes
wamo is a fintech service provider that has been enabling small and mid-sized business owners from around the world to open a business account in France in just a few minutes. Unlike traditional banks, wamo does not require visiting a physical bank branch to open an account. Instead, you can download the wamo mobile app from Google Play or Apple Store or use wamo website to quickly and easily create an online business account. Once you have registered for an account, wamo will provide you with all of the necessary steps and information needed to open a business bank account in France with wamo.
With France's fast-paced financial markets and economy, it is important to have access to fast, affordable and efficient products and services that can help your business grow and wamo could be your perfect solution. The platform enables you to manage all your financial requirements like international business accounts, virtual debit cards, multi-currency accounts and IBANs etc in one place.
The registration process takes just 10 minutes and you can get started right away!
