Neobank Shine adds cash collection to your professional account

Neobank for professionals Shine, owned by Société Générale since July 2020, announces on Tuesday, May 24, the launch of a collection service this summer. Aimed primarily at restaurants, artisans, merchants and freelancers, this new service relies on a network of tobacconists across mainland France.

“Our clients have been looking forward to making a cash deposit. Even if many only had a one-time need,” Nicolas Reboude, Shine’s boss, said in a press release. “This is the end of the dilemma. Merchants no longer have to choose between the modernity of an online account and the need to accept all payment methods.”

rare variant

Cash deposit is generally excluded from online business accounts and even from online banking consumer offerings. Few players (Hello Banque in BNP Paribas branches, Monabanq in the CIC network) offer this option, which remains one of the prerogatives of traditional banks. Qonto, for example, does not have them.

One might assume that Shine would rely on Societe Generale’s branch network to offer its customers this new opportunity, but that’s not the case. He has partnered with Brink’s, best known for its cash handling services. The group provides a network of 2,000 tobacco shops. The chain of tobacco shops is also operated, more broadly, by the Nickel Bank (BNP Paribas).

Reserved for premium formulas

It will be possible to deposit up to 3,000 euros in cash per month free of charge. However, to have this option, customers must subscribe to the Premium (€14.90 per month) or Business (€26.90) plan. These two subscriptions also allow you to cash checks. To deposit cash, customers will only need to edit the barcode through the Shine app and present it to the tobacco vendor. It will be credited instantly.

Shine, founded in 2018, has over 100,000 customers. Neobank received a payment organization license in September 2021, which allowed it, among other things, to launch this new collection service.

Back to top button