A transition that moves forward. Following its exit from the French market, online bank ING France announced Thursday that 315,000 of its former customers have now moved to Boursorama Banque.
Let us remember that the Dutch company signed a collaboration agreement last April with the subsidiary of Société Générale in order to recover its client portfolio.
Therefore, it is 63% of eligible customers (out of 500,000) for the migration system, opened on April 11 (and ending on September 30), who migrated their accounts to Boursorama Banque. Close to €8.5 billion was transferred, including almost €4.5 billion in life insurance.
“Unprecedented Operation”
“We warmly thank the 315,000 ING clients who migrated their accounts to Boursorama Banque during an unprecedented operation in France and completed in less than 6 months,” said Benoit Grisoni, CEO of Boursorama.
If ING had almost a million customers in France in June 2021, the bank proceeded from the summer of 2021 to close 335,000 Orange Savings Accounts of customers who only had this product at ING. In addition, some 100,000 customers have initiated the closure of their accounts since the announcement of the bank’s closure. It is therefore a base of approximately 500,000 clients transferable to Boursorama.
To date, 60% of ING’s current and savings accounts have been closed. By mid-November, 90% of accounts will be closed, says ING.
The bank adds that 10,000 clients have not yet closed their securities and/or PEA accounts. Remember that these financial products are transferable but banks apply commissions and operating conditions may differ from one institution to another.
Towards a closing of the last accounts
“ING strongly recommends that clients who have a securities account and/or PEA that have not yet made it open an account in another establishment and initiate a request to transfer their portfolio. As of June, a plan was put in place of communication reinforced in its intention 2022, including certified mail, emails and SMS, as well as calls from the customer service center, to encourage them to request the transfer of their portfolio, in the absence of a transfer request or closure on their part, ING will proceed to close the accounts, as announced to customers,” the bank warns.
“The next 90 days will be dedicated to closing the accounts that remain to be closed and finding solutions for clients in specific situations. Our teams remain mobilized to support our clients as best as possible during the coming weeks and until closing. last account,” said Frédéric Niel, director of online banking for ING in France.
Despite the high cost of attracting ING clients (between the transfer process and the welcome bonuses), this operation is very positive for Bourorama. Online banking sees its customer base increase from 4 to 4.3 million, older and richer customers than Boursorama. What will allow you to finally achieve profitability?
Source: BFM TV
