In the age of digitalisation and the internet, new types of banks have emerged.
Being completely paperless, online banks bring a whole new momentum to a situation where traditional banks are gradually losing popularity.
By becoming « pure players », online banks are addressing a new target group of consumers whose habits have evolved considerably in favour of digitalisation. They are therefore now targeting a generally young, autonomous audience who want a long-distance relationship with their bank.
The pioneer of online banking was launched in 1994 by BNP Paribas under the name Banque Directe. Then, as the success of the Internet grew and the consumer habits of the French changed in parallel, the other banking groups followed suit by launching their respective subsidiaries on the French market:
- ING (ING – 2000).
- Fortuneo (Crédit Agricole Arkéa – 2000).
- Boursorama (Société Générale – 2005).
- Monabanq (Crédit Mutuel – 2006).
- BforBank (Crédit Agricole – 2009).
- HSBC (HSBC – 2009).
- Hello bank! (BNP Paribas – 2013).
- Soon (Axa Bank – 2014).
- N26 (N26 – 2015).
Why should you sign up to an online bank?
Digital banks are revolutionising your relationship with the bank: simple, accessible and low-cost banking products. The big traditional banks (LCL, Axa Banque, HSBC, Caisse d’Épargne, Banque Postale, Crédit Mutuel, CIC, Groupama…) are no longer the only solution to manage your money.
Relations with your bank are now managed remotely via an Internet customer area accessible 24/7 from your mobile phone or computer, rather than via a physical branch. However, the variety and quality of services remain the same! By the way, there are a lot of new services that are possible thanks to the internet: Tools to manage your money, sending cheques and cash, new ways of communicating with an advisor via videoconference, emails, etc.).
Cheaper bank fees
By dematerialising services, online banks can meet the ever-growing accessibility demands of a mobile, modernity-oriented clientele. They are differentiated from traditional banks by their responsiveness, availability and, above all, their very attractive and competitive fees.
With no physical branches, logistics or staff, online banks eliminate a number of costs and can offer lower rates than traditional banks. Lecomparatif.com will help you choose the most suitable offer!
Lower bank charges to your advantage
Current account, savings account, money transfers, loans… The offer of online banks will convince you! They offer numerous free services and unbeatable welcome offers.
When you choose an online bank account, you can manage your finances quickly and easily at the right price. You only pay for the services you use, with no hidden costs!
How can I compare online bank offers?
As with any bank, taking out a bank account, opening a youth savings account or a savings account requires a minimum of caution: check the various ancillary costs (sending documents home, transfers, etc.) check overdraft authorisations and find out about interest rates.
These considerations before you get started, in addition to using our comparison calculator, will help you distinguish between the offers available. Other factors such as your opinion of the bank, its customer interface and the image of trust the company projects can help you make your decision.
How do I open an account with an online bank?
Signing up for an online bank account takes about ten minutes! The steps are done on the bank’s website :
- Fill in the online form.
- Confirm the contract using an SMS code.
- Submit the required supporting documents by scan or photo.
- It will then take up to 5 days to check your documents and confirm the creation of your account.
- Finally, you will need to activate your bank account by making an initial deposit (initial amounts vary depending on the bank).
Here is a list of the proofs usually required:
- A valid proof of identity (identity card, passport…).
- A current proof of residence (usually not older than 6 months).
- Proof of income (pay slips, tax assessment notices …).
- Your bank details (a RIB).
- A handwritten signature on a blank sheet of paper as proof of your consent.