Monabanq, a subsidiary of 3 Suisses International Group and Groupe Cetelem, is a French bank that exists completely online and allows customers to manage all of their affairs through the Monabanq website. Though this is a huge "yawn" for an American, this type of service is practically unheard of in France. An interesting feature of this online bank is that they utilize Skype so that communications with the banking agents is free, essentially creating a cost-free operation.
Whereas the typical French bank closes at 5pm on weekdays, Monabanq is geared towards the typical Internet user/full-time worker and offers live support until 10pm at night.
The website itself offers a great interactive video that serves as a tutorial for new users. If you want to test out your french skills, check it out.
Monabanq's main benefits include:
- No more paperwork : Digital copies of all your paper work
- No more mail : Interface for scanning and sending your documents to Monabanq via the Internet.
- No more pens : Electronic signature allows you to fill out bank requests without leaving your home.
- No more transfer delays (sort of...) : Transfer large sums of money in only 2-24 hours
- No more trips to the bank : Cash checks online (check must be sent to bank by mail though. Once received, the account is credited to the date when the online form was initially filled out
Many of these features already exist in the American banking world but they are truly unheard of in France. I lived in France for a year and learned to deal with a Bank (Banque Populaire) that closed it's doors for 2 hours during lunch time and closed at 12pm on Saturdays...I guess they never realized the beauty of running "lunch time" errands. To see this type of change occurring within the French banking services industry is encouraging. Hopefully, this level of consideration for customer service will spread like wild fire over there as the Internet forces the hand of traditional operating hours.
