Opening a French Bank Account for Your Startup

For foreign founders, opening a French bank account is often the single most frustrating part of setting up a business in France. Yet it is unavoidable. Without it, you cannot deposit share capital, complete company registration, or pay employees. Clients expect invoices issued from a French account, and government institutions require it for taxes and payroll. Access to loans, grants, and credit lines is also impossible without a local account.

Why a French Bank Account Is Essential

To register an SAS or SARL, founders must deposit share capital into a blocked account and obtain a certificate of deposit. Without this certificate, the Commercial Court will not deliver the K-Bis registration document. Beyond incorporation, credibility matters. French clients and suppliers expect payments to come from a local account in euros. Payroll and tax contributions must flow through a domestic bank. Finally, no financial institution will provide grants or credit unless a French account is active. In short, banking is not a detail, it is the backbone of your ability to operate.

Choosing the Right Bank

Founders usually face two choices: traditional banks and fintech banks. Traditional banks such as BNP Paribas, Société Générale, Crédit Agricole, or CIC offer credibility, a full range of services, and better access to financing later on. The drawback is long onboarding, strict compliance checks, and in-person meetings that can last weeks.

Fintech banks such as Qonto, Shine, or Manager.one are designed for speed. Onboarding is digital, interfaces are often available in English, and a deposit certificate can be delivered in days rather than weeks. The limitation is that some Commercial Courts may not accept fintech certificates, and fintechs do not provide the same financing options as traditional institutions.

The most effective strategy combines both: use a fintech such as Qonto to secure the deposit certificate and accelerate incorporation, then open a traditional account once the company is active to build credibility and prepare for financing.

For a full breakdown of incorporation requirements, see our guide on why France is the right market for US startups and explore morn’s Legal and Compliance service.

Documentation Required

French banks apply rigorous KYC rules. Founders must prepare identification documents, proof of address for directors, a draft of the company’s bylaws, a business plan or activity description, and proof of registered office. If the new entity is a subsidiary, parent company incorporation certificates and shareholder structure are also required.

Banks want assurance that the company has legitimate activity and no connection to money laundering. Preparing complete documentation in advance avoids weeks of back and forth.

The Capital Deposit Process

To create a French SAS or SARL, founders must deposit initial share capital. Legally, the minimum is one euro, but most startups deposit between one thousand and ten thousand euros to show credibility. The funds are held in a blocked account until registration is complete. Once deposited, the bank issues an attestation de dépôt de capital, which allows the company to file for incorporation. After receiving the K-Bis registration, the bank unblocks the funds and the account becomes operational.

Activating the Account

Activation is straightforward. Founders present the K-Bis to the bank, the capital is released, and the account is ready for invoices, payroll, and payments. This moment marks the real operational start of the business in France.

For details on how payroll flows through this account, consult our article on understanding payroll and business costs.

Common Challenges

The main obstacle is delay. Traditional banks can take four to six weeks to open an account. Some applications are refused without clear explanation if the profile is considered high risk. Language barriers add another layer of complexity, as many bankers do not work in English. For subsidiaries, the list of required documents is even longer. Finally, while fintechs are faster, not all courts accept their deposit certificates.

Workarounds That Work

Startups often use fintechs such as Qonto or Shine for the deposit, since most courts accept their certificates. Once incorporated, they then open an account with BNP or Société Générale to access broader financing. Another solution is to deposit share capital with a notary, who issues the certificate. This path is more expensive but often faster than waiting for a reluctant bank.

A case example illustrates the point. A US SaaS company attempted to open directly with BNP Paribas. After eight weeks, the application was still pending. They switched to Qonto, received the certificate in three days, and completed incorporation in six weeks. With the K-Bis secured, they returned to BNP and opened a corporate account for long-term credibility.

Timeline and Costs

With a fintech, account opening and deposit can take as little as three to seven days. Traditional banks may take four to eight weeks. A notary deposit usually requires one to two weeks. Fintech fees are thirty to one hundred euros per month, traditional banks charge between fifty and two hundred euros, and a notary deposit costs five hundred to one thousand euros.

Best Practices

Preparation is the key to speed. Translate documents if required, especially if you are creating a subsidiary. Use a fintech for speed but plan for a traditional account as soon as possible. Build a relationship early with a banker to secure future credit lines. Above all, avoid delays by aligning banking with incorporation and payroll planning.

How morn Helps

morn simplifies the banking process for foreign founders. The team recommends the right bank strategy for each profile, prepares all documentation in French, coordinates the capital deposit, and manages interactions with banks or notaries. Once the K-Bis is received, morn ensures the account is active without unnecessary delays, so founders can focus on hiring and selling rather than waiting for approvals.

Conclusion

Opening a French bank account is often a source of frustration, but it does not need to block your expansion. With the right mix of fintech speed and traditional bank credibility, you can avoid months of delay. With morn as your partner, the banking process becomes predictable, allowing you to launch operations, hire your first employees, and build client relationships without losing momentum.