Moving to France and do not have access to a French account yet?

If you’re buying in France, whether for work, retirement, or a fresh start, you’ve probably already started thinking about the logistics: housing, visas, healthcare, and of course, banking. Opening a French bank account is a key step in settling in, but transferring your funds from the UK isn’t always as straightforward as it seems. 

Right now, the GBP/EUR rate is hovering around 1.154 (23/09/2025), which is lower than the highs we saw earlier this year. Back in February, the rate peaked at 1.2120, giving the pound significantly more buying power. If you’re transferring funds today to set up your French account, you might be surprised at how much less you’re getting in euros. 

Why This Matters for Your Move 

Whether you’re transferring a lump sum to cover initial expenses or setting up regular payments for rent, bills, or lifestyle costs, the exchange rate can have a real impact on your budget. A £50,000 transfer at February’s rate would have given you €60,600. At today’s rate, you’d receive just €57,700, a difference of nearly €3,000. 

That’s money that could go toward furnishing your new home, covering legal fees, or simply giving you more breathing room as you settle in. 

No French Bank Account Yet? No Problem 

One of the biggest challenges for clients moving to France is needing to make payments before their French bank account is fully set up. Whether it’s a property deposit, legal fees, or initial living costs, delays in banking can create unnecessary stress. 

Moneycorp offers a local EUR account, which allows you to: 

• Receive and hold euros securely before your French bank account is open 

• Make payments directly to notaries, estate agents, or service providers in France 

• Avoid delays and complications with international banking systems 

This means you can start managing your financial commitments in France immediately, without waiting for paperwork or approvals from local banks. 

How FX Support Can Make a Big Difference 

Instead of relying on your UK bank, which may offer poor rates and charge hidden fees, you can use a dedicated FX provider to make your transfers smoother, smarter, and more cost-effective. 

At Moneycorp, for example, you’ll be supported by a personal account manager who: 

• Work with you and your risk appetite to manage your payments towards that risk appetite 

• Offer specialist FX tools to protect your funds from market volatility 

• Provide end-to-end support, from making payments directly to notaries, estate agents, or developers from local Euro accounts to prevent unnecessary fees. This reduces admin, avoids delays, and ensures your funds arrive securely and on time, even if your French bank account isn’t ready. 

Tools to Help You Stay in Control 

Here are a few FX tools that can help you manage your money confidently as you move: 

• Spot Contracts 
  Transfer funds at the current rate for immediate use, ideal for setting up your French account quickly and efficiently. 

• Forward Contracts 
  Lock in today’s rate for a future transfer. This is perfect if you’re planning ahead and want to avoid any nasty surprises from market shifts. (A deposit may be required) 

• Market Orders 
  Set a target rate and automatically transfer when the market hits it. You can also set a lower limit to protect against further drops. 

• Rate Alerts 
  Get notified when your preferred rate is reached, so you can act fast and make informed decisions. 

• Regular Payment plan – There will likely to be regular ongoing payments you will need to make such as, mortgage payments, rental fees, maintenance fees etc. Using a payment plan it will allow you to automate these regular payments to include the exchange of currencies. Streamlining the process to make it as hassle free as possible. 

It’s Not Just About the Transfer—It’s About Confidence 

Opening a bank account in a new country can feel daunting, especially when you’re dealing with unfamiliar systems and languages. Having a currency specialist on your side means you’re not navigating it alone. You’ll have someone who understands the FX landscape and can help you make the most of your money. 

Whether you’re transferring a one-off sum or planning regular payments, FX support can help you avoid unnecessary costs and make your move to France smoother. If you’re setting up a French bank account, or need to make payments before it’s ready, Moneycorp’s local EUR account and expert guidance can give you the flexibility and confidence you need.

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