BNP Paribas intends to take over Orange Bank customers as part of an agreement announced on Tuesday which organizes the transfer of customers to its subsidiaries Hello bank in France and Cetelem in Spain.
Since June, the two groups have been negotiating a takeover of Orange’s online banking customers, launched with great fanfare by former CEO Stphane Richard in 2017, and whose future had been in suspense since the start of the year against a backdrop of chronic deficit.
As part of a referencing agreement, Hello bank offers Orange Bank customers in France an exclusive offer and provides them with a simplified process and dedicated support for transferring their accounts, explain the two companies in a joint press release.
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The offer – consisting in particular of bonuses for subscribing to different offers or even a preferential temporary savings rate – is available from today, specifies BNP Paribas. Hello bank currently claims more than 800,000 customers.
In Spain, a commercial agreement was reached to ensure continuity for customers, who will be transferred to Cetelem in 2024.
Whether in France or Spain, customers can still use banking accounts and services until they receive a personalized communication from Orange Bank indicating the next steps to come, specify the two groups.
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Bringing a simple and smooth transition to Orange Bank customers
Our teams are already mobilized to provide a simple and smooth transition for Orange Bank customers in France and Spain who will be able to benefit from all the services of the BNP Paribas group, noted Thierry Laborde, deputy general director of BNP Paribas, in the press release.
Orange Bank was launched on the basis of the banking activities recently acquired from the insurer Groupama. But the dedicated subsidiary had been in deficit since its creation and the new general director of Orange, Christel Heydemann, had announced at the beginning of 2023 a strategic review on the future of the subsidiary dedicated to financial services, a usual periphrasis when there is a plan to sell or close a branch of business.
Orange Bank, which claimed 3.1 million customers in Europe and Africa at the end of March 2023, aims to close this activity in France and Spain by 2025-2026.
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Are you an Orange Bank customer and you have practical questions related to closing your bank account, your savings account or the future of your consumer credit? Do you want to know more about how to join Hello bank? Do not hesitate to ask your questions via our reader questions form, so that we can answer them.
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