How to open an account with an American bank in France?

For many people living in France who use US dollars regularly, opening a USD account can become a necessity. However, while the idea sounds simple, it’s not always easy to achieve. Very few banks offer this type of service—and those that do generally reserve it for professionals only.

This leads many to consider opening an account directly with an American bank. But is that even possible? How does it work? Which institutions offer this service?

As you’ll see in this article, opening an online account for transactions in dollars is usually much simpler than going through a traditional bank.

Providers like Wise offer a multi-currency account that gives you a US account number and allows you to make transfers in dollars at the mid-market exchange rate, as if your account were based in the US.

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Why open an account with an American bank in France?

Dollar accounts are mainly designed for people who handle dollars frequently. Here are a few examples of who might benefit from one:

• Entrepreneurs doing business with the US: a dollar account allows them to pay suppliers or receive funds from customers while reducing conversion fees.
• American expats working remotely for a US company: they can receive their salary in USD and access their funds via a debit card while living in France.
• Self-employed professionals who are paid in dollars by international clients.
• Individuals supporting a family member living in the US: having a dollar account makes it easier to send regular transfers to cover rent, tuition, or other expenses.

What is a dollar account?

A dollar account is a bank account where your balance is held in US dollars. It lets you send money to the United States without converting it first.

You can link a debit card to this account and withdraw cash in France, similar to a regular current account.

However, ATMs in France dispense euros, not dollars. If you need US dollars, you would have to withdraw them at a bank counter.

When you withdraw euros, your bank will convert the funds from your dollar account at a marked-up exchange rate.

What are the advantages of a dollar account?

A dollar account lets you make transfers without currency conversion. This means you avoid the marked-up rate and, in some cases, the bank’s exchange commission.

However, transfers to the US still incur sending fees since the country is outside the SEPA zone.

Another potential advantage is protection from euro fluctuations. If the euro’s value drops, your funds in USD may retain more of their value. In this sense, a USD account can serve as a form of “safe haven.”

Does it need to be declared?

If you pay taxes in France, you usually don’t need to declare your dollar account separately—it’s treated like your other French accounts. However, always check with the French tax authorities to confirm your situation.

If you are a tax resident elsewhere, you must declare the account according to your country’s tax laws. Failure to do so could lead to penalties or accusations of tax evasion.

Income received in your dollar account (such as salary or business payments) must be declared as taxable income. However, if you simply transfer funds between your own accounts, this usually doesn’t need to be reported.

How to open an account with an American bank in France?

French banks rarely advertise foreign currency accounts, making information difficult to find.

To open one, you would need to contact each bank individually and speak to an advisor—something that can be inconvenient, especially if you don’t live near a major city.

A more practical alternative is to open a foreign currency account online through a payment platform such as Wise’s dollar account. The process is quick, transparent, and free, and you’ll benefit from competitive transfer and conversion conditions.

Opening a bank account in France as an American

Is it possible?

Yes. An American citizen can open a current account in France if they live there (or anywhere in the EU), which gives them resident status.

If they don’t reside in France, they can apply for a non-resident account, though access to certain savings products (like the Livret de Développement Durable) is restricted.

Since France signed the IGA agreement with the United States in 2013, Americans are subject to FATCA (Foreign Account Tax Compliance Act). This means French banks must share certain information with the US tax authority (IRS).

Banks in France typically require proof of address to open an account. If you’re staying with someone and don’t have a utility bill in your name, you can provide an attestation d’hébergement (proof of accommodation). Click to learn more and download a template.

Can I open an online account in France if I am American?

Yes. If you’re American, you can open an online account with a traditional or digital bank in France by providing proof of address and identity. However, fees may vary depending on the provider.

If you want a simpler, faster option, you could consider opening a Wise account. It’s quick, flexible, and you can complete the process entirely online—ideal if you travel frequently or don’t want to visit a branch in person.

Alternative to traditional banks: open a multi-currency account with Wise

The Wise account offers a convenient alternative for anyone who needs to manage dollars but finds traditional banks restrictive.

Opening an account takes only a few minutes. Once registered, you’ll have access to a single digital wallet where you can hold 40+ currencies, including USD.

With Wise, you’ll get a US account number and routing number for free, allowing you to receive payments as if you were based in the US—without sender fees or hidden mark-ups.

When sending money to a USD account, you’ll only pay a fair, transparent fee.

Your Wise account also comes with a debit card, so you can spend your dollars in the US without fees if no conversion is required.

With Wise, you get a payment solution that lets you send, receive, and withdraw US dollars as easily as if you had an account in the United States. Compared to traditional banks, Wise could be a more economical, transparent, and flexible option.

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This article is a translation of the original article published in French and was translated within 365 days of publication. While the content has been translated for accessibility, the data and sources referenced have not been updated since the original publication date.