Around 675,000 people in France are affected by this news.
It’s rare enough to be underlined: a bank will soon close its doors. And it won’t be the first of the year in France. Other establishments have already lowered the curtain, bringing the total to three entities ceasing their activities. A little less than two million French people have already, or will very soon have to, change banks. If for the most part, the transfers have already been made, several tens of thousands of people will have to start taking steps.
After HSBC and Orange Bank, it is the turn of Ma French Bank to disappear. The bank was not necessarily known to the general public: only online, with no branch in town, it had around 675,000 customers. For them, everything was done digitally or by telephone, no physical advisor was assigned to them. Enough to give rise to numerous criticisms of customer service, despite advantageous prices, notably the free use of a bank (debit) card.
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 filled barely more than half of them. Above all, it was not making money and this project seemed too heavy to bear for a group historically dedicated to mail delivery but which is trying to diversify its activities.
For account holders with Ma French Bank, the news is not a surprise. The announcement of the closure had already been made at the end of December, but now the bank’s management has clarified the timetable for the cessation of activity: since June, customers began to receive a letter to inform them of the rest of the operations for their money. Let everyone be reassured: their liquidity will not disappear overnight. The bank will remain active until summer 2025.
Until then, Ma French Bank customers must begin to take steps so that their current and savings accounts can continue to exist. As the bank is a subsidiary of La Poste, an offer is offered by La Banque Postale so that the funds are paid to the big sister of Ma French Bank: 50 euros offered and 0€ fees on payments and withdrawals abroad until December 31, 2024. Customers are however given complete freedom to transfer their money to the bank of their choice.