ING’s French customers are faced with a dilemma: transfer their accounts to Boursorama, as their future ex-bank offers them, or look elsewhere. Here are the choices that present themselves.
ING is your main bank, the one you use every day? You now know what to expect. A little more than three months after formalizing the end of its retail activity in France, the online bank of Dutch origin, in fact, yesterday revealed the content of its partnership agreement with Boursorama Banque. It provides for the implementation of a facilitated transfer to the Société Générale subsidiary, with the key to some substantial bonuses, before a definitive closure of the accounts before the end of 2022.
ING customers, here are the instructions for switching to Boursorama
For those who have not recovered their stake, it is therefore time to choose: go to Boursorama or choose another ING replacement. Here are some elements to clarify your choice.
Spoiled for choice
If you have chosen to make ING your main bank, it is no doubt because you are sensitive to the price paid for your banking services. In this case, you don’t really have an alternative: to stay in the same price range, you need look at online banks. Over one year, for standard banking use, the price difference between ING (10 euros) and the least expensive of the traditional banks (Crdit Coopratif, 109.05 euros) is nearly 100 euros.
In terms of remote banking, you are spoiled for choice: in addition to ING, France has 5 full-fledged banking establishments (Boursorama, Fortuneo, Orange Bank, BforBank, Monabanq), to which you can add Hello bank!, BNP’s digital showcase Paribas.
All of them, however, do not have the same strengths as ING. Hello bank! (92.52 euros per year) and Monabanq (115.42 euros) have less competitive pricing policies. Monabanq, for example, does not offer a free bank card. A disadvantage partly offset by very complete product catalogs and access to ATMs in the branches of their parent companies (BNP Paribas for the first, CIC for the second), especially for check and cash deposits.
BforBank has an offer very comparable to that of ING, but a little more expensive. If you are not a few tens of euros per year, it deserves to be considered. Orange Bank, finally, shines rather by its prices, but still suffers from a more limited offer, in particular on savings and stock market products.
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Boursorama and Fortuneo, the most complete alternatives
In terms of the relationship between the quality of the catalog and the price of services, the two most credible alternatives are Boursorama Banque and Fortuneo. Both are ahead of ING in the list of least expensive banks, on the Standard profile already mentioned, but also on a more premium profile. They also have the advantage of having a catalog covering all the products offered by ING, or even a little more, as detailed in this table.
| ING | Boursorama Bank | Fortuneo | |
|---|---|---|---|
| Payments | |||
| Free credit card | |||
| Free withdrawals in France | |||
| Free payments abroad | |||
| Instant transfers | |||
| Saving | |||
| Booklet A / LDDS | |||
| THE P | |||
| PEL / CEL | |||
| Passbook | |||
| Life insurance | |||
| Securities account / PEA | |||
| PER | |||
| Credits | |||
| personal loan | |||
| Real estate loan |
How to share them? Boursorama Bank has the advantage of the catalog. It offers two products not found in other online banks, the Housing Savings Plan (PEL) and the Retirement Savings Plan (PER) on the savings side, as well as Freedom, a free bank card intended for the children of its customers from the age of 12.
Fortuneo, for its part, makes the difference in payments. Its premium card, a Mastercard Gold, has the particular advantage of operating simultaneously on the CB networks in France and Mastercard abroad. It is also embossed, that is to say that the figures are in relief, which can improve its acceptance in certain particular cases. She is finally more generous on foreign currency withdrawalswhich are completely free, while Boursorama limits this free to 3 withdrawals per month with its Ultim card (1.69% fee thereafter).
The subsidiary of Crdit Mutuel Arka also offers the instant transfer by default and without ceiling (2000 euros at Boursorama). She should add soon paylib with friends, an increasingly popular instant payment service between individuals. Finally, it incorporates a virtual card service, which saves you from directly exposing your bank card number when making payments on the internet. You just have to make your choice.
Online banking: comparison of offers