June 16 () –
Orange Bank ceases its activity tomorrow, Monday, June 17, and stops providing banking services, after Orange decided to sell this business that operates in Spain and France to BNP Paribas.
The telecommunications operator and the banking group closed an agreement in February to offer a continuity solution for Orange Bank clients in Spain. This means that BNP Paribas Personal Finance (Banco Cetelem) is the Spanish entity to which the Orange Bank business unit will be transferred.
Additionally, the team of professionals from Orange Bank’s banking unit will become part of the BNP Paribas Personal Finance team when the transition is complete.
Within the framework of this process, Cetelem began to offer in mid-April a ‘Welcome Plan’ exclusively for Orange Bank customers, which includes a checking account without a maintenance fee until December 31, 2024, date as of which will charge a commission of 1.99 euros per month.
In addition, the offer included a savings account remunerated at 3.25% APR, with no limit on the balance to be remunerated, and monthly settlements; and a debit card without issuance or maintenance fees.
This plan also offers free immediate transfers from the checking account and free cash withdrawals starting at 120 euros per withdrawal at any ATM in Spain.
The process of transferring funds and closing the Orange Bank account will be free of charge for customers; In addition, they will be able to complete the registration process in Cetelem online through an exclusive link that will be communicated to them through Orange Bank.
At the end of 2023, Orange Bank – which began operations in Spain in 2019 – had 234,000 clients, 28% more than at the end of 2022. In addition, it had accumulated some 6.9 million devices financed since it began its activity.
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