Migration is coming. In 2021, the French bank My Money Group, a subsidiary of the American fund Cerberus, and HSBC signed an agreement confirming the sale of the British banking giant’s retail activities in France for a symbolic euro.
My Money Group thus has a solid network of around 800,000 clients, 244 physical points of sale and 3,900 employees, “with assets of almost 24,000 million euros, 21,000 million euros in loans to clients and 19,000 million euros in deposits.” “, recalls the company in a press release.
The big change will take place on January 1. The former HSBC France will become CCF (formerly Crédit Commercial de France), a brand purchased in 2000 by the HSBC group.
What will happen to the clients? RIB, debit cards, life insurance: changes are important and you have to prepare for them.
Administrations and energy suppliers automatically notified
In a letter sent to its future former clients, HSBC France confirms that it will be the CCF brand that will manage their accounts and assets from now on. A brand change that implies a change in all the banking supports used.
Each of the 800,000 customers should receive a new RIB and a new IBAN during December.
Good news, HSBC indicates that administrations and energy suppliers will be automatically notified.
Therefore, there is no point in sending these new bank details to your creditors by direct debit.
But to avoid holes in the scandal, “a support system will allow other establishments to be warned”, reads this letter transmitted by MoneyVox, such as your employer if the salary is deposited directly into your account or even online. services: insurance, subscriptions, owner etc…
Transfers and direct debits transferred automatically for 6 months
To fully reassure its customers, HSBC France specifies that “for six months, starting in January, transfers and direct debits that appear in your old IBAN will be automatically transferred to the CCF account.”
Also in December, customers will receive a new identifier so they can connect to their bank remotely.
“To receive your new bank details and your future bank ID remotely, check the accuracy and completeness of your postal and email addresses, as well as your landline and mobile phone numbers today. You can do this from your secure online space, through your request or through your advisor and the Customer Service Center,” the bank informs.
Active bank cards until renewed
Regarding bank cards, HSBC France specifies that they will remain active until they are automatically renewed. On the other hand, customers will have to request new checkbooks starting in early January.
During the transition period, checks in HSBC France colors will be normally debited from the new bank account.
No changes for life insurance
In its letter, HSBC France underlines that “sustainable agreements have been concluded with HSBC Assurances Vie (France), HSBC Global Asset Management (France) and HSBC REIM (France) to continue offering them products of the same quality as today.” .
Finally, the advisors associated with each client should remain the same, says the bank, which specifies that the 244 physical points of sale and the 3,900 employees have been absorbed by the new brand.
Source: BFM TV
