The end is here for Ma French Bank, La Poste’s 100% online bank! Faced with its lack of profitability, it will bow out by the end of the year. What does the future hold for its 675,000 customers?
Bad news if you are a customer of Ma French Bank! The neobank, launched in 2019 for young people, is permanently closing its accounts. Like the vast majority of online banks, with the exception of BoursoBank and Fortuneo, the subsidiary of La Banque Postale is not profitable and must close its doors, like Orange Bank and HSBC France. Accessible only on the Internet, Ma French Bank nevertheless offered more advantageous rates than a traditional branch as well as a free debit card, and benefited from good exposure in post offices. But this was not enough to make a place for itself on the very competitive market. What will happen to its 675,000 customers?
End of Ma French Bank: some 675,000 customers in difficulty
The end of Ma French Bank is not a surprise in itself. The news had already been announced last December, which gives its customers plenty of time to find another banking institution. However, the process of ceasing the activity has accelerated since June. Many users have started to receive information letters about what will happen next, as reported by The Internet user. If you are a customer and have not yet started the process, don’t panic! Although Ma French Bank will cease its activity by the end of the year, it will remain active until the summer of 2025. You therefore have a whole year to transfer your funds to the bank of your choice.
Because yes, the operation is not automatic, it is up to you to take the necessary steps. Ma French Bank being a subsidiary of La Poste, you can benefit from a recovery offer at La Banque Postale, with €50 offered and €0 fees on payments and withdrawals abroad until December 31, 2024. But you can always go and see if the grass is greener elsewhere!