The American University of Paris | Orientation

Bank accounts

The University recommends that students attending AUP for more than one semester open a French bank account. This will facilitate life in a number of ways, allowing you to receive wire transfers, deposit checks and guarantee easy access to funds.

Student Services will be in touch with you with the details about opening a bank account in advance of your arrival in France. Once you have confirmed your attendance by paying your €350 confirmation deposit, you will receive an email providing details about each bank, together with instructions on how to open and activate your account before arrival. The University recommends that you open your bank account in advance and has established agreements with several local banks, all within walking distance of AUP facilities. This enables you to take advantage of wiring funds ahead of time and you will be able to collect your debit card (carte bleue) at Orientation.

Our participating banks will also have representatives available during Orientation for those students who would prefer to open an account after their arrival. Opening an account at Orientation will result in a delay of a week to 10 days before you receive a checkbook and debit card. Keep in mind that you will need a bank account to pay for your first month’s rent and deposit, to subscribe to a monthly phone plan, and to take advantage of discounted student métro passes.

Students should open a checking account, which will enable them to deposit and withdraw money, receive money transfers, withdraw cash from automatic teller machines and write checks. With a checking account, it is possible to have a carte bleue, which is a bank debit card that allows you to withdraw money from automatic teller machines. Some banks will also offer students a carte de retrait, which is both a bank debit card and a Visa card (carte bleue).

Having a bank account also allows you to deposit Euro checks, which cannot be cashed or endorsed for payment to another party.

Please Note that French banks do not allow overdrafts, and there can be very serious consequences for bouncing checks or overdrawing an account.

Opening a bank account is relatively simple. You simply select a bank, either in the neighborhood of AUP or near your housing, provide them with a copy of your passport and a copy of the University's "Bank Letter", available at Orientation, and, of course, deposit some money. If you open a checking account, your checkbook and carte bleue will generally be ready within a week. You might also inquire with your bank at home and determine if they have an affiliate branch in France. Opening an account at such a branch would facilitate subsequent fund transfers.

AUP has a relationship with several neighborhood banks.

For more information, please click here (accessible by AUP community members only)

Wire transfers from abroad

Funds can be wired to France from abroad using one of two methods:

Wire transfers to your French bank account

Once you have opened a bank account, anyone may wire money to the account. Wires should take approx. 48 hours but can occasionally take longer. For a regular transfer arrangement, find a bank in your home country that is affiliated with a French bank and open an account with the affiliated bank in Paris.

Wire transfers to American Express or Western Union

Anyone with an American Express card can have money wired instantly to the American Express office in Paris. Funds can also be sent through Western Union to almost all Parisian Post Office, including those closest to AUP.

Note: The slowest way to receive money from abroad is to deposit a check in a currency other than Euros. It can take from four to six weeks for these checks to be credited to your account! Do not come to Paris with a check drawn on a foreign currency.

Automatic Teller Machines (ATMs)

Students frequently rely on bank or credit cards to withdraw cash from Automatic Teller Machines (ATM's) located around the city. This is very convenient, but be aware that there are sometimes daily limits of 200 – 250 € per day. You should contact the bank or company that issued your card for the following:

	verify that your card is an international card and can be used in Paris;

	determine if there are daily or weekly limits;

	secure a 4-digit pin code (not letters) for your card; only cards with 4-digit numerical codes can be used in French ATM machines

	verify whether your bank or credit card company charges for individual transactions at ATMs; if this is the case, you will want to make fewer but larger withdrawals and

	have information about how to react if your card is ever lost or stolen.

Traveler's Checks

Traveler's checks can easily be cashed at any foreign exchange office or in most banks in Paris. There will always be a service charge for such transactions. When students arrive for Orientation, they will be directed to reliable agencies for cashing traveler's checks and for exchanging currencies. Because of the fees and fluctuations in exchange rates, it is preferable to open a bank account and transfer money from abroad for larger transactions. This is also much safer.

Initial Expenses

Plan to arrive in Paris with enough resources (we suggest 2000 - 2500 € in Travelers Cheques) for your first month's expenses, including first month's rent, one month's security deposit, startup miscellaneous expenses and daily living expenses. Ideally, we suggest you arrive with some cash (200 €) and a credit card for withdrawing additional funds or Traveler's checks. You should plan to change some money when you arrive at the FIAP, advisors run guided tours in order to change money. Do not come to Paris with a check drawn on a foreign bank. Make sure that at least the first monthly payment of university fees has been made, or you will not be able to register for classes.

Banking in Paris