Already the leader of online banks, it will make a new leap forward. ING and Boursorama entered into “exclusive discussions” on Tuesday morning for the takeover of the Dutch bank’s client portfolio. The intention of the two parties is to reach a definitive agreement “by April” next. The subsidiary of Société Générale, the only remaining candidate with Fortuneo, owned by Crédit Mutuel Arkéa, will potentially recover around 800,000. They will be added to the approximately 3 million already present, and will undoubtedly allow online banking to reach 4 million, well ahead of its initial target of 2025.
« We are convinced that Boursorama can provide the best banking alternative to ING customers interested in a 100% mobile model, sensitive to our promise of the lowest fees on the market, with a recognized digital experience on a complete offer of high-performance products. », supports Benoît Grisoni, Managing Director of Boursorama.
This recovery follows the announcement, on December 21, of the departure from the French online banking market, which arrived in 2000, following having conducted a “strategic review”. “ING no longer had a choice, time was running out! Consumers were already heading for more favorable skies,” observes Michel Guyot, president of the consumer association France Conso Banque.
No “computer gateway”
Boursorama will only take over “day-to-day banking” activities (current accounts and bank cards), passbooks, life insurance, as well as securities and PEA accounts. As for account transfers and the transition for customers, we will still have to wait a few weeks to find out the technical details.
Boursorama specifies that “depending on the products, reserved welcome offers and simplified subscription for ING customers who would like to become customers”. No “computer gateway” should be established between the two former competitors. ING would consider that all current accounts will be closed.
The only certainty is that customers will not be able to keep the same RIB. “We had demanded it but unfortunately it is contrary to the requirements of the Banque de France… On the other hand, we obtained the promise from ING that the transfer of the securities and PEA accounts will be carried out free of charge, welcomes Michel Guyot. Customers didn’t ask for anything, they shouldn’t be held hostage. The transition should be the easiest for them. We will watch out for abusive closures. »
No real estate loans
Boursorama does not recover “single accounts”. They don’t want inactive customers who only have a passbook. This is why ING had carried out a major clean-up in recent weeks, pushing out individuals who only had an “orange booklet”, the flagship investment product with an advantageous interest rate when it was launched.
Finally, as anticipated, “credits will not be part of the scope of the agreement. Home loans will continue to be managed by ING. Maintaining consumer loans at ING is under study,” ING said. Employees will remain dedicated to the management of these files for 10, 15 or 20 years if a buyer for this activity is not found by the bank.
