If you are one of the 700,000 customers of this bankknow that it has announced its closure. Its withdrawal from the banking market adds to other recent closures in the sector. Notably those of HSBC and Orange Bank. Discover, in the lines of this article, what establishment it is and the reasons for this closure. Without forgetting the procedure to follow for the customers in question.
End clap for this bank!
In France, the year 2024 will have marked the end of several banks. The least we can say is that it is, in fact, a bad year ahead for banks.
In total, thousands of customers are preparing to lose their bank accounts again. The same goes for those who have subscribed to savings accounts or consumer loans. Some people who have opened an account in this establishment will therefore lose their RIB, their IBAN and their identifiers to connect to their personal space.
Once again today, the latest bank to cease its activities is Ma French Bank. This is the online bank of La Banque Postale which has nearly 700,000 customers. And this closure should last until sometime in 2025, we are told MoneyVox.
For the record, in 2024, two banks have already disappeared from the sector. First of all HSBC for individual customers. My Money Groupunder the brand of Crédit Commercial de France (CCF), has also taken over its activity and the files of its 800,000 customers. The second is Orange Bank which has signed a partnership with Hello Bank! to allow its customers to transfer their account to BNP Paribas online banking.
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Will the parent company recover My French Bank customers?
For several months, La Banque Postale has also been offering its customers the opportunity to open an account with the parent company.
THE customers of Ma French Bank, therefore have a period of two months to request closure of their account. The latter have also all received a letter to this effect.
If customers do not wish to join the parent company they will then receive a notice of account closure, with a new deadline of two months to transfer their assets to another bank.
All customers of this online bank should know that after 60 days it will close the account and deactivate the bank cards. But also and above all, it will no longer be possible to access the Ma French Bank application.
However, according to MoneyVoxLa Banque Postale hopes to win back the customers of its online subsidiary by offering them a welcome bonus of 50 euros and free fees on payments and withdrawals abroad.
On the other hand, note that since December 4, customers of Ma French Bank no longer have access to the mobile payment service.
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What are the reasons for the closure of this online bank?
Several reasons are behind the disappearance of this bank:
– And unsustainable economic model due to its lower cost services.
– Of the significant operational costs which the income generated therefore does not compensate.
– A fierce competition with establishments like Revolut, N26 or Boursorama Banque.
– But also difficulties in adapting without delay to technological developments and the expectations of its customers.
In view of these problems, La Banque Postale therefore had to make the decision to close its online subsidiary.
