Nickel Bank Services Now Also Offered in Post Offices

Nickel bank accounts can now also be opened at post offices. Besides opening the account, customers can also deposit and withdraw money. This service was previously available at approximately 500 newsagents in Belgium and at various BNP Paribas partners.

What is Nickel?

Nickel is a banking brand of the French major bank BNP Paribas, which also owns the Belgian bank BNP Paribas Fortis. The brand primarily targets customers who value the convenience of local money transactions.

Opening a Nickel account is easy. All you need is an ID card and a smartphone. Once opened, customers receive a bank account with BNP Paribas Fortis. All transactions are processed instantly, and there's no overdraft facility. This allows Nickel to also accept customers who use traditional bank accounts. couches unable to open an account.

Costs and terms of a Nickel account

A basic account at Nickel costs 25 euro per year. Transfers via smartphone are free. Customers can withdraw cash free of charge three times a month from a distribution point, such as a newsagent or post office. After these three withdrawals, a €0,50 charge applies per transaction. Withdrawing cash from an ATM costs €1,50 per transaction. Deposits are charged at 3% of the deposited amount.

Nickel's Growth and Future Plans

By the end of last year, Nickel, which launched in Belgium in 2022, already had 109.150 Belgian accounts. This was an 18% increase compared to the previous year. The brand is targeting 26% growth this year.

Nickel aims to have 300.000 customers in Belgium by the end of 2027. This is later than originally planned. The brand primarily attracts 22- to 44-year-olds, with more than half of its customers falling into this age group.

Nickel plans to achieve its growth by expanding its network. In addition to the existing 500 newsagents and partners, Nickel is now adding 656 post offices to its distribution network, bringing the total to 1.160 points of sale. The partnership with bpost is initially concluded until the end of 2029.

BNP Paribas sees opportunities for Nickel, as traditional banks are closing more and more branches and ATMs are not widely available. Reportedly, 91% of Belgians live within 5 km of a post office.

Nickel also operates in France, Germany, Portugal, and Spain. In total, the brand manages more than 4,7 million accounts and has a network of over 12.000 points of sale.