Can you open multiple current accounts at the same bank in France?

Thinking about opening a second bank account in France? Or even holding multiple accounts? It comes with its own set of advantages and disadvantages. But is it even allowed? In this article, we’ll answer all your questions about having a second (or third) bank account in France.

The Wise account is an affordable, simple, and practical alternative to traditional bank accounts. Opening an account is free for individuals and freelancers, and you can receive balance transfers without limits or conditions.

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Is it legal to have multiple bank accounts in France?

Yes, it’s perfectly legal to have several bank accounts. This practice is called multibanking. In fact, around 30% of people in France have at least two bank accounts. Here are the basic requirements:

• You must be of legal age.
• You must have valid identification.
• You must provide proof of address.

In France, there’s also a “right to an account” procedure. If you’re denied access to banking services, you can appeal to the Bank of France.

In addition to your regular account (personal or business), you can open a free Wise account (for individuals and freelancers) or a Wise Business account (€50 one-time setup fee for companies).

Having a second bank account: pros and cons

Advantages

Having more than one bank account can offer several benefits:

• Separate personal and professional finances. Many freelancers choose a dedicated account for work, such as the free Wise account. It’s up to 7 times cheaper than a traditional bank and has no monthly or maintenance fees.
• Enjoy multiple cards. The Wise card lets you make purchases worldwide without hidden fees. Delivery fee: €7.
• Access an overdraft more easily in case of unexpected expenses.
• Negotiate better management fees.
• Access additional services or preferential rates.
• Assign a specific purpose to each account. For instance, you could use your Wise account to receive transfers in USD, GBP, and EUR. Subject to your consent, it can also be linked to investment options (higher potential returns, higher risk).
• Negotiate better loan conditions.
• Try an alternative payment solution to traditional banks before switching permanently.

Disadvantages

Opening a second bank account can also have downsides. The main one is cost. Some banks charge up to €30 per month for account maintenance — even more for business owners.

Typical costs include:

• Monthly subscription fees.
• Account maintenance fees.
• Service or subscription charges.
• Application or setup fees.
• Penalties for failed payments.
• Overdraft fees.
• Card-related fees.

If you want to pay less, save on currency transfers, and get a debit card accepted worldwide, consider opening a free Wise account. For businesses, the one-time setup fee is €50.

Can I have multiple savings accounts in France?

You can have several current accounts, but only one of each regulated savings account (known as “livret”) per person. However, a single tax household can hold several. Here are the applicable rates and limits as of October 3, 2025:¹

Can I have two PELs in two different banks?

No, it’s not allowed. You can only have one PEL (Plan Épargne Logement) per person. However, it’s possible for different members of the same tax household to each have one.

A tax household includes people who file a joint tax return, such as:

• Spouses.
• Dependent children.

So, each member can hold one PEL, but not more than one per person.

How to reduce your bank account fees in France

To minimize your bank account costs, consider transferring your funds to a Wise account. It has no maintenance fees or monthly charges, and opening an account is completely free.

Here’s how to minimize or even eliminate traditional bank fees:

1. Open a Wise multi-currency account.
2. Open an EUR balance.
3. Download your account details (RIB).
4. List all your direct debits.
5. Update your payment details with your new Wise account numbers.
6. Transfer funds from your current account to your Wise account.
7. Close your old account.

You’re not legally required to hold an account with a traditional bank in France. A payment account like Wise can be fully sufficient.

FAQ: Can I open multiple current accounts at the same bank in France?

Is it possible to open two current accounts at the same bank?

Yes, you can have two current accounts at the same bank. However, approval depends on the bank’s internal policy. In practice, it’s often easier to open a business account at a bank where you already have a personal one.

Why open a second bank account?

Opening a second bank account can help you:

• Separate personal and professional finances.
• Reduce bank fees.
• Dedicate one account to investments.
• Manage savings more efficiently.

Which types of bank accounts can be duplicated?

You can hold several types of accounts simultaneously, such as:

• A personal account and a joint account.
• A personal account and an account for your child (with power of attorney).
• A traditional bank account and a Wise account.

The Wise multi-currency account is practical and flexible: it lets you hold and convert foreign currencies, receive and send transfers, and manage money in 40+ currencies at the mid-market exchange rate.

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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.