first-e, the internet bank, has announced that its 80, 000 or so UK and German-based customers will be transferred to DAB bank Deutschland and DAB bank/SelfTrade UK, following its closure after two years of operating from Ireland under the banking licence of Banque d'Escompte, a privately owned French bank.
Customers will be invited to transfer their funds to one of the above-mentioned banks, with immediate effect. Meanwhile, first-e will contine to operate over the transition period to facilitate a smooth change-over. Before it fully closes on 3rd October.
Alain Wormser, Chairman and Managing Director of Banque d´Escompte said: "Through our operation of first-e the internet bank, we have acquired a significant volume of self directed, sophisticated customers who wish to actively manage their finances. They have increasingly expressed requests for access to a wider range of investment products. With this offer from DAB bank and DAB bank/SelfTrade, we now have an excellent opportunity to be able to meet this demand."
Matthias Kröner, Speaker of the Board of Management of DAB bank AG said: "With our wide spectrum of information, decision-making tools and products, our favorable pricing and our strong European positioning, we are the only and ideal partner for first-e customers to assist them with their financial strategies."