Are you fed up with the incessant increases of conventional banks? Why wouldn’t you opt for online banking? The latter have already attracted more than 6 million French people and their popularity continues to grow. But how to choose yours?
What is an online bank?
Also called electronic banking or internet banking, online banking offers the same services as a traditional bank, except that its services are dematerialized. To open or manage accounts, monitor transactions, view balances, make payments or transfers, customers must connect to the online banking website or mobile application.
Online banking has no physical branch and is usually a subsidiary of a major French bank. It also enjoys the status of a credit institution and above all it should not be confused with the neobank (the latter is a payment institution and only carries out day-to-day banking operations).
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What are the advantages of online banking?
If many French people have taken the plunge, it is clear that online banks offer multiple advantages. The main ones are:
- a guarantee of trust: As noted above, online banks are usually owned by traditional banks. This further reassures customers;
- reduced costs: Due to the absence of physical offices, the operating costs of online banks are lower than those of traditional banks. It is no wonder that their costs are reduced;
- accounts accessible 24/7: whether you are in France or abroad, you can access your accounts and make transactions at any time;
- the ease and speed of transfers: online banks are connected to national or international banking networks, which facilitates and speeds up money transfers;
- innovative and practical additional tools – ideal for customers looking for a full range of banking products.
How to choose an online bank?
Here are some tips for choosing an online bank:
- check the offers: not all offers from online banks are advantageous. Since you will not physically meet the banker, it would be best to study them well;
- compare the commissions of several banks: this way you will avoid possible unpleasant surprises;
- define your needs and take into account your profile;
- guarantee the ergonomics of the site;
- evaluate the quality of customer service.
Online banks are the ideal solution for those who want to save a few euros. They are easily accessible and include a large number of additional services. They also facilitate operations.