The seduction operation of BNP Paribas and Hello Bank, ready to make every effort to seduce Orange Bank customers

Hello Bank is more than willing to welcome Orange Bank customers, who are preparing to migrate after the closure of their service, by the end of 2024. The BNP Paribas subsidiary offers them significant advantages.

In exclusive negotiations since June 2023, Orange and BNP Paribas have concluded a referencing agreement which will allow Orange Bank’s 400,000 customers to migrate to Hello Bank with more than advantageous conditions. Customers who accept the migration from the Orange group bank to that of the BNP group will receive up to 430 euros, in addition to account opening bonuses, incentives to use banking mobility services, and advantages for subscription of products. Hello Bank thus aims to replicate the success of Boursorama during the closure of ING in 2022.

Hello Bank does everything to facilitate (and encourage) the migration of Orange Bank customers

From this Tuesday, February 27, 2024, Orange Bank customers, whose accounts will be permanently closed by the end of the year, are informed of the conditions for migration to Hello Bank. Frédéric Niel, CEO of Orange Bank, recommends that his customers switch to Hello Bank, where they can benefit from exclusive offers and a simplified digital journey. But customers remain free to choose. They are not obliged to accept migration.

However, Hello Bank explains that the process will be simple. To validate this migration, customers will only have to use their Orange Bank application, click on a dedicated link and directly access the Hello Bank customer journey.

And to convince future ex-Orange Bank customers, BNP Paribas is pulling out all the stops, in every sense of the word. First, consumers will receive up to 230 euros in benefits. If we break this sum down, we find 80 euros when opening the account, 100 euros if the customer uses the banking mobility service, and 50 euros if the latter opens a savings account with Hello Bank. And that’s just the beginning !

Hello Bank wants to assert itself as the French number 2 in the online banking market

In addition to these first incentive benefits, former Orange Bank customers who migrate to Hello Bank will benefit from additional “gifts” for a year. If they open life insurance during this period, they will receive a bonus of 50 euros. Same thing for a PEA, a securities account or an insurance product. In total, consumers who switch from Orange to Hello Bank will be able to receive up to 430 euros in cumulative benefits.

As we said earlier, Hello Bank, with 800,000 customers, is inspired by the success of Boursorama, now BoursoBank, which had also signed a referencing partnership with ING in France. The subsidiary of Société Générale had convinced almost three out of four customers (315,000) to join BoursoBank.

Regarding the coming months, Orange will invest 140 million euros to support the departure or reclassification of its 670 employees, with the first departures planned for May. On Hello Bank’s side, we are focusing on the development of a broader range of banking services and products than that of Orange Bank. And its offers are more competitive, like the Premium pack, with a Visa Premier card offered at 5 months/month, compared to 7.99 euros at Orange Bank. Hello Bank, which hopes to reach one million customers thanks to this operation, could well become the runner-up to BoursoBank (6 million customers) in the online banking market.

Source : The Parisian