Americans Retiring in France: Stop Paying Transfer Fees on Your US Social Security

Living the dream in France? Whether you are enjoying the cafe culture in Paris or the slow life in Provence, navigating the financial logistics of being an American expat can be complicated.

One of the most common headaches for American retirees is moving money across the Atlantic. Many expats rely on third-party services like Wise, Revolut, or standard bank wire transfers to move their Social Security payments from a US bank to a French one.

But there is a better way. Did you know you can have your US Social Security deposited directly into your French bank account—in Euros?

Not only is this more convenient, but it often yields a better exchange rate than you can get on the open market. Here is how to set it up and news about an upcoming major event for American retirees in Paris.

Why You Should Switch to Direct Deposit (IDD)

The US Social Security Administration (SSA) offers a service called International Direct Deposit (IDD). Instead of the money hitting your Wells Fargo or Chase account in dollars, and you having to manually transfer it (and pay fees), the US government converts it and sends it straight to your Fortuneo, BNP Paribas, or other French bank account.

The Benefits:

1. The Best Exchange Rate: The Federal Reserve Bank processes these transfers using a bulk "interbank" rate. This rate is typically more favorable than the consumer rates offered by transfer apps or commercial banks.

2. No More Transfer Fees: You eliminate the "middleman" fees associated with moving money internationally.

3. Peace of Mind: You don’t have to log in every month to move funds. It arrives in your French account, in local currency, ready to use.

How to Set Up US Social Security Direct Deposit in France

Setting this up is surprisingly simple and creates a permanent link between the Federal Benefits Unit and your French bank.

Steps to Enroll:

1. Visit the US Embassy in France Social Security Service Page.

2. Download the direct deposit sign-up form (Form SF-1199A) or follow the instructions for the online enrollment tool.

3. You will need your French bank’s IBAN and BIC information to complete the setup.

Once established, your benefits will arrive in Euros automatically.

Mark Your Calendars: France-USA Retirement Information Days (Feb 2026)

Do you have a "mixed career"? If you have worked in both the US and France, navigating how these two systems interact—and how the US-France Social Security Totalization Agreement affects you—can be confusing.

The Federal Benefits Unit has announced a major joint event to help answer your questions.

Assurance Retraite Île-de-France is hosting a "France-USA" Retirement Information Day in Paris.

Event Details:

• Dates: February 10th – February 12th, 2026

• Location: Paris, France

• Who Will Be There: Representatives from ‘Assurance retraite’, the US Social Security Administration (Federal Benefits Unit), and AGIRC ARRCO (French complementary retirement).

This is a rare opportunity to speak directly to experts from both governments in one room. They can help clarify issues regarding windfall elimination provisions, spousal benefits, and combined work credits.

How to Register

If you are interested in attending, registration is required. You can find the full agenda and sign up at the link below:

Register for the France-USA Retirement Days