Checking account in Paris

Apr 9th, 2007, 10:58 AM
  #1  
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Checking account in Paris

I am sorry for all the questions, but I am trying to get everything resolved asap.

For two students studying 1 year at the Sorbonne, what would be the best method for them to access funds while in Paris?
Options
1. Paris BANK CHECKING ACCOUNT.
2. Citibank in Paris account, funded here.
3. US Bank card, using ATM withdrawls in Paris
4. Any other ideas?
Thank you.
Intex is offline  
Apr 9th, 2007, 11:07 AM
  #2  
 
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It would probably depend on what you intended to do with the money you want to access. I am assuming it's just for daily expenses, walking-around money, not major checks that you need to write. Also, where would the money be coming from to be deposited into this account? If you aren't going to be depositing any, just withdrawing, I don't see any reason to have a Paris bank account. It seems like just using an ATM card on your US account sounds best, but I know there are folks on here who know a little more about French bank accounts, so see what they say. I don't think they are nearly as easy to get as in the US, though.
Christina is offline  
Apr 9th, 2007, 11:10 AM
  #3  
 
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US ATM card taking out up to 250 euros a day or so at any of zillions of ATMs is by far the best bet IMO - someone back home keeps stocking the checking account that the card should be hooked too - savings accounts often don't work in my experience.

can access ATMs all over Europe - say they bop over to London, etc.

Credit cards are accepted everywhere from McD's to groceries and they a good way too - ask you card issuer about charges and tell them where you're going.
PalenQ is offline  
Apr 9th, 2007, 11:18 AM
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I suppose they will have to pay a rental, may want to get a long term phone plan, will have to subscribe to the national health system, maybe an insurance.... all those things will be easier (or even possible) with a french bank account
norween is offline  
Apr 9th, 2007, 11:18 AM
  #5  
 
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Look at this site: www.eduparis.net
It answers many of the questions that students spending a year in Paris would have.
kerouac is offline  
Apr 9th, 2007, 11:38 AM
  #6  
 
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I wouldn't assume you'd have to do all those things being a foreign student studying at the Sorbonne one year. They may well have student housing in Cite Universitaire, for example, and the checks may be written once a semester from the US or something. I don't know rules for French national health service, but I suspect foreign students for one year may well not be in it but just have a student temporary policy.
Christina is offline  
Apr 9th, 2007, 12:14 PM
  #7  
 
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If they are going to need to pay bills, I'd get them a French bank account. It's just as simple as opening one here - exact same procedure - the checks are just different, with things in different places, but they'll figure that out. And if they do need to pay bills, they can arrange, as here, to have the money automatically withdrawn monthly or bi-monthly or whatever.

If it's just cash they need, by all means have them use a debit card linked to their US bank and get their money from ATMs.
StCirq is offline  
Apr 9th, 2007, 03:35 PM
  #8  
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Thank you for the advice. I was just hesitant to use a debit card, because of the charges per ATM withdrawl in Paris. I will have to see what Wells Fargo charges for ATM withdrawls in France, maybe they can take out larger sums, with less frequency. I will also look into French bank accounts.
Intex is offline  
Apr 9th, 2007, 03:39 PM
  #9  
 
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No ATM machine in Paris charges a fee. It would only be your bank that did so. And if WF charges one, I'd change banks. I've never paid a penny to withdraw money in Europe.
StCirq is offline  

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