Approximately 675,000 people in France are affected by this news.
It's rare enough to be highlighted: a bank will soon close its doors. And it won't be the first of the year in France. Other establishments have already closed their doors, bringing the total to three entities ceasing their activities. A little less than two million French people have already changed banks, or will have to change banks very soon. While for most, transfers have already been made, several tens of thousands of people will have to start taking steps.
After HSBC and Orange Bank, it is Ma French Bank's turn to disappear. The bank was not necessarily the best known. While 70% of its customers were “recruited” at post offices and 30% online, it had no branches in town and everything was done only online or by telephone, without a designated physical advisor. Despite This, around 675,000 customers had opened an account there, sometimes with regret: the organization has given rise to much criticism, despite advantageous rates, in particular free a bank card (debit).
Launched in July 2019 by La Poste, the establishment was intended to attract a young and connected clientele thanks to its 100% digital services. However, the objective of one million customers by 2025 seemed too far away, the bank having barely filled more than half of it. Above all, it was not making money and this project seemed too heavy to bear for a group historically dedicated to mail delivery but is trying to diversify its activities.
For account holders at Ma French Bank, the news is not a surprise. The closure was announced at the end of December, but now the bank's management has specified the timetable for the cessation of activity: since June, customers have started to receive a letter to inform them of the next steps for their money. Let everyone rest assured: their cash will not disappear overnight. The bank will remain active until the summer of 2025.
Until then, Ma French Bank customers must begin taking steps to ensure that their current and savings accounts can continue to exist. As the bank is a subsidiary of La Poste, an offer is proposed by La Banque Postale so that the funds are paid into the big sister of Ma French Bank: 50 euros offered and 0 euros of fees on payments and withdrawals abroad until December 31, 2024 (in the event of subscription to an account formula). However, customers are completely free to transfer their money to the bank of their choice.