Lyon is the third-largest city in France and is one of the ideal destinations that attract a wide range of people from all over the world. People come here for a variety of purposes, one of which is higher education. Lyon witnesses many international students every year.
After enrolling in Lyon, students need to plan about various things, one of which is managing their finances. To manage the finances, a major thing that you need to do is to open a bank account. Even if you are a foreign student, you can open a bank account in Lyon. You can get some random tips about opening a bank account as a foreign student in Lyon.
Choose Your Bank in Lyon to Open an Account
The first thing you need to do is to choose the bank where you will open an account in Lyon. Read the details about the bank and then make your decision. Some popular banks in France are Lydia, HSBC, Nickel, LCL, Société Générale, etc.
Things That You Should Keep in Mind While Selecting a Bank in Lyon
Following are the things that you should keep in mind while selecting a bank.
- Check whether the monthly maintenance charges are low.
- There should be no or very less ATM withdrawal fees.
- The loan interest rates of bank should be very low and there should be flexible repayment plans.
- The bank should have net banking facilities so that you can make easy transitions.
- There should be a quick and efficient customer service.
- It will be good if a bank doesn’t have minimum balance limitations and if it has, it should be manageable.
- The branch of the bank should be near your student housing in Lyon.
- There should be more overdraft limit and less monthly service fees.
- There should be no or less transfer fees.
- Currency conversion rates should not be high.
- It will be good if there is access to generous rewards on payments.
Documents You Need to Open a Bank Account in Lyon
Here are the documents that you need for opening a bank account in Lyon.
- Proof of residence.
- Proof of enrollment.
- Passport and Student Visa for identification of students.
- Another form of photo ID (driver’s license or student card).
Conventional Method
The conventional method is very simple that everyone knows. You first need to visit a bank where you are required to ask for a form for opening a bank account. You need to fill out a form and submit it to the counter. You also have to submit your documents to complete the process. You can get your account details either instantly or by post.
Online Methods
Online methods are highly prevalent today for opening a bank account in Lyon or any other city. One of the methods is to visit the websites of the bank where you want to open an account. There, you fill out an online form. In some banks, you may have to submit the documents online. In some cases, you may have to go to the bank in person after reaching Lyon.
Besides, some online student accommodation service platforms may also help you in opening a bank account in Lyon. These are the same platforms whose help you can take for finding accommodation in Lyon.
Benefits of Opening a Bank Account as a Foreign Student in Lyon
There are numerous benefits of opening a bank account in Lyon as an international student. You become able to manage your expenses properly. You can add all your savings to that account. These savings can be from the money that you receive from your parents, a salary that you find from a job if you do a part-time job, the money you get from your scholarship or financial aid if any, or money from any of your financial sources.
Many employers transfer salaries directly to their employees’ accounts. If you decide to do any part-time job in Lyon, you can receive a salary directly in that account.
Besides, you can keep track of your money if you have a bank account in Lyon as a foreign student. Similarly, you can get many other advantages if you open a student bank account in Lyon.
