French bank account?

John_3:16

How do you open a French Bank account from the UK? I have just thought how beneficial it will be to use while on holiday.

Would it be cheaper regarding exchange rates etc. i think it would be better to get cash from a machine?

Would it also be better when on holiday in spain and the like? Or will they charge for taking cash in another country?

Any help thanks.

thumshie

Unless you receive income in euros, or travel a great deal you may find the Nationwide Flex account more suitable. This doesn't charge the usual commission fee for withdrawls while abroad(along with their credit card).

The french bank would still charge a commission to pay sterling into it. If you do alot of travelling, citibank offers some good accounts in euros/dollars but there are minimum funding levels or annual fees...

Doesn't answer your question but may be some things you havn't considered.

CovOne

For some reason Nationwide will only offer me a cash card no direct debit card when trying to open an account with them, anyone no of any reasons why this could be....

grownup1

From experience it's quite difficult to open a bank account in France. You have to prove your income even if you don't want credit and have to provide a good reason for wanting an account (eg owning a house there). Agree that a Nationwide debit card is a reasonably efficient way of accessing Euros and probably the best option for holidaymakers.

KTF

CovOne wrote: »

For some reason Nationwide will only offer me a cash card no direct debit card when trying to open an account with them, anyone no of any reasons why this could be....

Unless you plan to use the card to pay for stuff then a cashcard is fine as you can still use it to get cash out from ATMs.

Nationwide can be picky when it comes to curent accounts. Many people have reported getting offered a cash card when applying. You can ask the branch why this is or take the cashcard option and get it upgraded in a few months time.

John_3:16

Thanks all. I already have NW CC so will stay with this at the moment.I use it abroad because of the reasons above. I still notice that Supermarkets are more and more offering if they want to be payed in sterling. I have always said no euros as I have heard of bad exchange rates if paying in sterling. Any thoughts?

p1an0player

French cashcard/current accounts usually have monthly charges of at least 5 euros per month with other hidden charges for things which might be free here.

KTF

John_3:16 wrote: »

Any thoughts?

Always pay in the local currency.

techno_geek

I have a french bank account, but I generally use my Nationwide debit card when I'm over there - you get a much better interest rate! French bank accounts are difficult to open, and it's not worth it!

I only have one because I live there 6 months of the year, and need it to pay bills etc!

By the way, if asked whether you want to pay in Sterling or Euros, ALWAYS SAY EUROS - you avoid any conversion fees imposed by the retailer, and you get a better rate (even though the retailers might say otherwise :rolleyes: )