Bye bye Pepito. Renault Bank, the new commercial brand of the Renault group’s financial subsidiary, RCI Bank and Services, has confirmed the end of the marketing of its historic Pepito term account. On the savings side, the brand is now focusing on the Zesto savings account.
Clean up from top to bottom at RCI Bank and Services. The Renault group’s banking subsidiary has been piloting credit and financing solutions for new and used vehicles for car customers for around ten years, and savings products on the other. RCI Bank and Services has been using the Renault Bank brand since 2020 for its savings offer in other countries. It was only at the start of 2022 that Renault Bank appeared in France: the site selling the Zesto savings account was completely overhauled, with a new, purer design, and the Renault Bank brand is therefore erasing the name of RCI Bank and Services, which is now more discreet.
This grooming is not only cosmetic. It also affects the catalog of savings products: The term account Pepito is no longer offered to new customers since January 24corn it continues to exist, without change, for customers who had already subscribed to a term account., explains Renault Bank. The Pepito term account, launched in the summer of 2013, was for several years the complementary product to the flagship investment, the Zesto savings account, launched in 2012. Pepito could only be subscribed by savers who already had a Zesto savings account, and with a minimum starting bet of 5000 euros. This term account has always been a niche product, selling hundreds of copies alongside the more popular Zesto passbook. In the 7 countries where its savings offer is presented (France, Germany, Austria, United Kingdom, Brazil, Spain and the Netherlands), RCI Bank and Services boasts nearly 500,000 customers in total.
If Renault Bank puts Pepito in the garage, the subsidiary of the automotive group does not let go of the Zesto booklet, even if its gross yield (0.50%) does not currently make it the best bidder on the market: RCI Bank and Services wishes to refocus around its view product [le livret Zesto, NDLR] to make its offer more transparent and more readable for its customers, explains Renault Bank.
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As for switching to the new renaultbank.fr site, it is painless for savers according to the brand: The 9-digit connection identifier (communicated upon subscription to the savings account) remains unchanged. A new password was sent by post at the end of January. A password recovery process self-care [par soi-mme] is available to the customer.
Renault Bank’s Zesto savings account