The Dutch bank ING is cleaning up the French customers holding only a house savings account, the LEO, after announcing at the end of December the end of its online banking activities in France.

The procedure for closing these Orange savings accounts has been underway since the summer of 2021 with customers "who have no other products at ING", insists the bank.

"Customer deposits will be fully reimbursed," assures the bank, which claims a million customers in France, but did not wish to specify the number of accounts concerned.

This could exceed 300,000, says the France Conso Banque association, which is based on information from employees and feedback from dissatisfied customers.

Are referred to "uninteresting accounts" and unprofitable, "whether they are inactive, small or dormant", explains its founder and president Michel Guillaud.

ING, for its part, is putting forward the context of low interest rates to justify these closures.

“The European Central Bank applies negative interest rates: the sums deposited by the banks of the euro zone are taxed at -0.5%.

In other words, they have to pay to deposit money, ”she explains.

Société Générale, candidate for takeover

ING online banking has been present in France since 2000, making it one of the pioneers in this sector which has seen the number of players multiply in recent years.

It has grown by offering savings products at lower rates than regulated savings accounts, as well as interest-bearing current accounts.

But the bank announced on December 21 the end of its online banking activities in France, leading to the loss of around 460 jobs and the sale of the customer portfolio in France.

According to information published recently in the press, Societe Generale is the favorite in the recovery.

Its online bank, Boursorama, claims more than 3 million customers and hopes to have "more than 4 million by 2023".

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