La Banque Postale Launches the 100% Mobile Bank “Ma French Bank”.

The French public bank, which targets a young segment of customers, offers a mobile offer that can be subscribed to from a Post Office or directly from your smartphone.

It is with the ambition to democratise mobile banking and to respond to the thirst for autonomy, independence and speed of its customers and prospects that La Banque Postale presented at length, on Tuesday 14 May, its subsidiary (and its 100% mobile offer), Ma French Bank.

A single rate set at 2 euros per month

The neobanks have the wind in their sails. With around 4.4 million accounts open at the end of 2017 (according to the Autorité de contrôle prudentiel et de résolution, based on a report published in October 2018), La Banque Postale believes that despite the large number of players in the online banking market (Boursorama, Nickel, ING, Revolut France, Fortuneo, Hello Bank, Orange Bank Monabank etc.), its natural reputation and the gradual digitalisation of society and consumers will work in its favour.

The first originality of Ma French Bank is to propose a paying offer at 2 euros per month. In exchange for this amount, payments and withdrawals are “free” anywhere in the world, and therefore should not incur any additional fees.

The La Banque Postale subsidiary thus sets the objective ofattracting 1 million customers within 5 years, with a majority of 18-35 year olds. To achieve this, the bank invested 100 million euros

Subscription facilities

To create an account, Ma French Bank is logically inspired by the other mobile offers on the market, with a theoretical account opening in just 10 minutes, from one of the 2,000 post offices or via itssmartphone. Another advantage designed to attract younger people, Ma French Bank only requires a single proof of identity when subscribing to, either an Identity card passport or residence permit. The bank also offers free online account opening and closing, and real-time balance and transaction monitoring to keep its budget under control.

Ma French Bank has its own website, but for the time being it is only a showcase for pre-registrations of potential future customers, in exchange for their first name, email and phone number The commercial launch of Ma French Bank is not scheduled until July 22nd.

Several services and options available

As of July 22nd, 48 to 72 hours after subscription, customers will receive their international Visa contactless payment card, which can be used with Apple Pay to pay directly from their smartphone. Ma Tirelire”, an automatic savings service designed to finance future projects, and “Mon extra prêt”, a revolving line of credit that allows you to unlock the desired amount in one click and choose your repayment speed.

Ma French Bank also offers community and solidarity services such as “We Partage”, which allows you to manage joint expenses with your loved ones in real time, or “Let’s cagnotte”, to invite members of your entourage to contribute to a joint gift. The app also proposes the integration of the participatory financing platform KissKissBankBank (acquired by La Banque Postale in 2017).

You May Also Like