A discreet subsidiary of La Banque Postale has just added two free services to its 65,000 customers. These include instant transfer.
You certainly know La Banque Postale. You may also be one of some 20 million customers in this group. Among them, 750,000 opted for Ma French Bank. The online bank launched in 2019 will probably soon close its doors.
Despite undeniable success with customers, Ma French Bank has not achieved profitability and has not yet found its economic model, the group indicated in December.
Ma French Bank and La Banque Postale initiated an information-consultation procedure with their respective staff representative bodies on December 18, 2023. These procedures aim to study a project to cease the activities of Ma French Bank, the 100% mobile bank of the La Banque Postale group, and the conditions under which it would be implemented, it is explained.
Concretely, Ma French Bank should disappear by the end of 2024 or mid-2025. If La Banque Postale does not exclude the sale of the customer portfolio to a possible buyer, according to AFP, La Banque Postale promises to offer all customers of Ma French Bank the possibility of opening an account within it in order to access its physical network with its 7,000 post offices and benefit from the services of a traditional bank.
La Banque Postale: what will become of Ma French Bank customers?
65,000 customers for Louvre Banque Prive
But the La Banque Postale group has another subsidiary, even more confidential: Louvre Banque Prive, the former BPE. Specializing in wealth management, it had more than 65,000 clients in 2023. And they can now benefit from two new services.
Since January 1, they have had free access to the instant transfer service. A service which is still billed by many banks but which will soon have to be free for all individuals, following the adoption of a European directive.
Furthermore, Louvre Banque Prive has just activated compatibility with Apple Pay after an update of its mobile application, indicates the igen website. All VISA payment cards offered by Louvre Banque Prive, namely Visa Classic, Visa Premier, Visa Infinite, can be registered in Apple Pay, specifies the brand on its website.