For the first time, The world includes, in its panel of profiles to establish the ranking of the cheapest banks, a 25-year-old customer wishing to manage his account exclusively from his smartphone, a use that has grown significantly in recent years. Our young consumer carries out traditional operations such as withdrawals and card payments in the euro zone and in currencies, as well as transfers.
But, unlike the other profiles in our survey, he does not have a checkbook or an authorized overdraft. Are included in the ranking of neobanks (Ma French Bank, Max, N26, Nickel, Orange Bank and Revolut), as well as online banks offering an unconditional income domiciliation offer (BforBank, Boursorama Banque Ultim, Fortuneo Fosfo, ING Essentielle ) that meet these criteria. Objective of our young digital follower: to limit his bill to the maximum.
Three establishments allow it to spend nothing during the year: the neobank Max and the Ultim offers from Boursorama Banque, and Fosfo from Fortuneo. The other establishments in our panel display prices ranging from 3.06 euros at N26 to 96 euros at Nickel. This ranking shows that neobanks are not always among the cheapest on the market, because they do not always aim for free access at all costs.
Their offer is primarily designed to facilitate payments, with bank cards that can be controlled with a fingertip in real time, and a customer experience far from the traditional banking world. “Everything is done to simplify banking, from opening the account to its daily use. The difference is real with the apps of online banks and networks ”, adds Maxime Chipoy, head of comparator Meilleurebanque.com.
This simplicity appeals: the consulting firm KPMG assesses the number of active accounts opened in France with neobanks at June 30, 2019 at 2.6 million. For example, the German N26 claims 1 million customers in France (4.5 million worldwide), while the British Revolut announces 900,000 (8 million worldwide). “ Customers open an account to test our service and gradually build up their income to make N26 their main bank ”, says Jérémie Rosselli, the managing director for France, who adds that 62% of customers are under 35 years of age. Millennial customers above all looking for inexpensive means of payment in France and at the other end of the world. Mobile payment is therefore a must: Apple Pay is offered by all the neobanks in our panel with the exception of Nickel, while Google Pay is available at N26.