Orange Bank: a division of the communications conglomerate Orange Group gives customers a new option in France. In this review, we will go through Orange Bank’s service features and its features, cons and benefits.
Banks are a revolutionary business in the digital age. New online banks such as Orange Bank are also booming with more versatile and convenient financial services. Orange Bank part of the telecoms conglomerate Orange Group gives French users a new option. This post will cover all the information about Orange Bank, its features, cons and pros of Orange Bank.
Overview of Orange Bank
Orange Bank is the first French digital bank founded by telecommunications giant Orange in 2017. This bank is not an accident this company merges Orange Group’s communications and technology expertise to offer customers smarter and easier banking. After a combination with the French Groupama Group, Orange Bank was awarded a French banking licence and a legal bank that is subject to the French financial regulatory body.
Advantages and disadvantages
Advantages include:
Free account: There are no eligibility criteria to open a free account from Orange Bank (you don’t have to fulfil any income criteria or anything, hence you can cut the financial barriers).
French banking license: Orange Bank is a real French bank licensed by the French financial supervisory body, so you can have confidence in its services and safety.
Personal and family loans: Orange Bank Personal and Family loans give customers a simple and convenient loan for their multiple financial demands.
Disadvantages include:
No Innovative Investment: Compared to some other online banks, Orange Bank has very limited investment and savings options which can restrict users’ financial investment options.
International Payment and Withdrawal Fees: There are no free payments or withdrawals at Orange Bank except for premium accounts. The other accounts you have might require some fees for international payments and withdrawals.
Service Overview
Orange Bank offers three kinds of accounts mainly:
Free standard account: Offers a free Mastercard debit card, so that you can get various everyday banking functions like transfers, payments, etc free.
Premium account: Monthly fees & more privileges and services like worldwide free payments and withdrawals, various insurance, and support plans, etc.
Premium family package: Offers entire family banking services such as multiple bank cards, child financial apps, etc.
Orange Bank provides multiple other services besides account services that are just basic like online customer support, mobile payments, etc., to add a bit of experience.
User experience
Orange Bank offers users a good user experience as the app is easy to use on mobile and online customer service is available 247. Customers can check account balances, pay bills etc, anywhere at any time from the mobile app, and get online support immediately if there is a glitch.
Conclusion
As a fresh digital bank, Orange Bank offers some basic banking but also with some issues and restrictions. Even so, it’s still a decent choice for people looking for simple and easy banking services. If Orange Bank continues to grow and innovate its services, it can be among the first choices of more users. But, now OrangeBank does not welcome any new customers and is exiting the French Internet banking market if you are searching for alternatives. Please consider Micco. Micco is a financial services company, offering similar services and products for today’s businesses. Another one that you can look into is Micco, with a simple platform, affordable pricing and commitment to quality.
Whether you’re a freelancer, early-stage startup or enterprise, Micco has you covered with the right solutions and expertise to help you automate accounting and grow your business. Visit Micco today to see how it can help with your business banking.
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