ING France customers will soon see more clearly about the choices available to them after the establishment ceases to operate in France.
The Dutch bank announced in December its intention to end its online banking activity in France.
At the end of January, it signed a memorandum of understanding with Boursorama, the subsidiary of Société Générale, to sell it part of the portfolio of ING France customers.
On Monday, the two establishments signed a definitive agreement.
Read alsoBoursorama consolidates its position as the leader in online banking
This concerns more than 500,000 ING customers.
The online bank had one million customers in June 2021. But, starting last summer, it closed its customers' low-activity savings accounts and in March announced the closure of all of its in-house savings books for customers who only hold this product.
Moreover, since December, some customers have taken the initiative to leave the bank.
“The increases in account closures are very modest”
, however advances Frédéric Niel, director of the online bank ING in France.
In addition, customers with a home loan or a consumer loan will remain an ING France customer until the end of their loan.
“We will ensure their management until their maturity”
,
Life insurance outstandings almost doubled
From April 11, more than 500,000 ING France customers with a current account or savings in the bank will receive a letter offering them to join Boursorama.
Those holding a life insurance contract will have their contract automatically transferred to Boursorama Banque in July.
"Nothing will change for the insured, their contracts will remain the same
," says Benoit Grisoni, CEO of Boursorama.
“ING and Boursorama contracts are managed by the same insurer, Generali, which greatly facilitates the migration.”
This new situation will enable Boursorama, which has more than 3.3 million customers, to practically double the amount of its life insurance outstandings: they will increase from 7 billion euros today to 12 billion euros in July. .
Welcome offers for ING customers
For ING customers, holders of current accounts, savings and securities accounts (and PEA), the transfer to Boursorama Banque will be optional, but strongly encouraged.
"We are going to set up a simplified account opening process and we are going to facilitate their procedures"
, specifies Benoit Grisoni.
“Our offer is the most consistent with that of ING.”
To attract as many customers as possible, the French leader in online banking will offer welcome offers to ING customers.
They can reach 320 euros in total.
The transfers will take place over a three-month period, between April and July.
“It is a feat”
, underline the leaders of the two establishments.
Note that ING customers who do not wish to become Boursorama customers can transfer their banking and savings assets to another institution of their choice.
