What new EU banking law means for foreigners in France
If you live in France and have an account with a UK, US or other non-EU bank, you may have recently received a message telling you about a new EU directive - here's what it means for foreigners in France.
Foreigners in France who maintain accounts with non-EU banks may face more complications due to a new EU directive. The Capital Requirements Directive (CRD6) requires non-EU banks to establish an authorized local branch in France or enter into an agreement with a local subsidiary to continue providing core banking services. This includes taking deposits, providing loans, or credit guarantees.
The directive aims to standardize rules across EU countries, but France already had similar rules in place since 2015. Banks have started notifying customers about the changes, requiring them to provide an address in the country where the bank account is based. Two main exemptions apply: reverse solicitation, where the EU client initiates the contact, and a grandfather clause for contracts signed before July 11th, 2026.
For those whose accounts face closure, options include finding banks with branches in both countries or using internet banks like Wise or Revolut, which offer accounts in multiple currencies and provide account numbers in both the EU and non-EU countries.
Written by urgent.news from The Local France's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
