The cessation of the activities of Ma French Bank will take place gradually until the summer of 2025. Online banking customers are invited to transfer their assets to another banking establishment.
If you are one of the 700,000 customers of Ma French Bank, you should soon receive a letter. Founded five years ago, the loss-making subsidiary of La Banque Postale will in fact cease its activity and will soon inform all people who have an account with the online bank.
This closure comes six months after La Banque Postale announced that it was studying “a project to sell the activities” of Ma French Bank, the development of which required “massive investments” which are “no longer compatible with the group’s strategic plan”.
Contacted by BFM Business, La Banque Postale assures that “the cessation of the activities of Ma French Bank will be carried out following a progressive process, over a period of 12 to 15 months, from June 2024 and until the summer 2025.” The group also ensures that this cessation of activity “presents no risk for customers’ assets and deposits, which will remain accessible throughout the procedure, until their accounts are closed.”
A “welcome offer” offered by La Banque Postale
In the meantime, Ma French Bank customers can transfer their assets to the banking establishment of their choice. The Postal Bank, however, hopes to convince them to transfer their account to it by offering them a “welcome offer, with a bonus of 50 euros for any opening of an account, and free commissions on payments and withdrawals abroad outside eurozone”.
The group also ensures that these new customers will be able to “benefit from the free banking mobility assistance service from La Banque Postale in order to transfer all of their scheduled direct debits and transfers”.
