There have been major changes in the Czech banking industry recently. A clear trend is consolidation, where big banks become even bigger after buying smaller competitors that have successfully grown here in the past ten years. At the same time, it turns out that even hundreds of thousands of clients today are not enough to make the bank profitable in an interesting way. It may very well happen that there is no interested person who would buy it.
No one wanted the bank anymore
And that’s exactly what happened to the popular Hello Bank, which in recent years focused mainly on younger individuals, to whom it offered very interesting services, such as a free current account, a high-interest savings account or a credit card with favorable terms and great exchange rates. In addition to all this, she developed her successful credit business, which began operating under the name Cetelem.
But even all this was not enough for Hello Bank to stay on the Czech market. Already in the spring of this year, it stopped recruiting new clients, but continued to provide services to existing ones in an unchanged form. Apparently, she also negotiated the sale of the bank in the background, but these negotiations ultimately did not come to fruition.
And so it ended, as it had to end. Hello Bank in the Czech Republic is definitively ending, which now also applies to existing clients who have the last few weeks to transfer money from the bank to another account, or download documents from Internet banking that they might still need in the future.
Foto: Shutterstock
We’re going to the finals
At the same time, many clients had no idea for a long time. Only now did they receive a text message, which shows that something is happening. “Hello, Internet banking and the Hello bank mobile application will be discontinued on 1 December 2023. Until then, you can download your documents from banking,” the report states.
At the same time, the main message on the bank’s website still only talks about the fact that services for new clients will not be provided. The bank’s closure schedule can only be found below. It really needs to be emphasized that people who only had accounts with the bank will not be transferred anywhere and their services will simply be canceled. They themselves have to open an account in another bank and transfer everything there.
Read also: Česká banka upset the Czechs. When they withdraw cash, they must say what they want it for. Is it still our money?
In the case of loans, the situation is a little different. “There are no changes to the repayment of credit products, and clients will be informed in time of further changes,” states Hello Bank in its declaration. According to available reports, Česká spořitelna has taken over the loan portfolio of the bank, which clients will continue to repay according to the set conditions. They should know more soon.
Foto: Shutterstock
2023-10-15 12:00:00
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