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Wednesday, December 8, 2021

Bank Pekao merges with Idea Bank. Migration of products, difficulties for customers – what does it mean for customers

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Bank Pekao will transfer data and products of Idea Bank customers to its operating systems this weekend. This is the last step in the bank merger process. The changes concern approximately 270,000 clients of the former Idea Bank. Migration is expected to start on Friday after 4pm. Customers must be prepared for difficulties in accessing the services.

Bank Pekao announced in a press release that the process would be fully automatic. “Although access to accounts will be limited on these days, it will be possible to pay by card in stationary stores and withdraw cash at ATMs” – assured.

The migration process will cover approx. 270 thousand. clients of the former Idea Bank, including approx. 220 thousand. company and about 50 thousand. individual. Importantly, all account numbers will remain the same.

“Unification of customer service will be the last element in the bank merger process. From now on, all customers of the former Idea Bank will use the same transaction services as Bank Pekao customers. They will also gain access to identical products and services, including solutions unavailable in the former Idea Bank, such as Apple Pay or Blik, and the possibility of using the entire network of branches “- explained Błażej Szczecki, vice president of Bank Pekao, supervising the Technology Division, quoted in the release.


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What does this mean for customers?

The migration will involve interruptions in the access to services for all customers, both who used the systems of the former Idea Bank and Bank Pekao so far. The data migration operation will start on Friday, November 19. after 4 p.m.

All electronic services of the former Idea Bank – i.e. Idea Cloud internet banking, mobile application and telephone banking – will be disabled. “This means that it will not be possible to issue a transfer order in electronic banking, make Pay-by-link online payments and online payments with a card with additional confirmation in Idea Cloud” – it was explained. At that time, customers of the former Idea Bank will not be able to order payments on the hotline and in the bank’s branches.

At the same time, it was ensured that throughout the weekend during which the migration will take place, it will be possible to pay with cards in stationary stores and withdraw cash at ATMs.

Migration is to end on the night of Sunday to Monday. According to the assurances of Bank Pekao, on Monday from 8.00 am, clients of the former Idea Bank will have access to their accounts in Bank Pekao systems – they will use the Pekao24 internet banking and the PeoPay, PekaoBiznes24 applications and the services of the Pekao hotline and branch network throughout Poland.

The announcement recalled that from October 13, Bank Pekao was sending new debit and credit cards, which customers of the former Idea Bank can activate from November 21. “Credit cards issued by Idea Bank will cease to be active on November 22nd, and debit cards – on November 26th. In order to maintain continuity in access to funds, it is best to activate the new credit card on November 21-22, using the PIN code sent by post. In turn, it is best to activate the new debit card by November 26 “, advise Bank Pekao representatives. The new debit card can be used with the PIN from the “old” card.

Bank Pekao – difficulties

In the coming days, there will also be difficulties for the current individual and corporate clients of Bank Pekao “due to the technologically advanced data migration operation and the necessity of necessary IT works”.

As announced in the announcement, the Pekao24 website, the PeoPay application, Pekao24Makler and the eTrader Pekao platform will be unavailable on Saturday from 15.00 to 12.00 on Sunday. The PekaoBiznes24 website, mobile application and Pekao Connect service will be unavailable from Friday from 22.00 to 6.00 on Monday.

During the break, customers of Bank Pekao will not be able to, inter alia, carry out Blik transactions and Pay-by-link online payments or online card payments with confirmation of authorization in the mobile application or online banking. it will only be possible to block the card. Card payments in brick-and-mortar stores and ATM withdrawals are supposed to work properly.

Idea Bank taken over by Bank Pekao

The Bank Guarantee Fund at the end of last year announced that it was due to the poor capital situation initiated forced restructuring Idea Bank. Therefore, on January 3, 2021, Idea Bank was taken over by Bank Pekao.

According to the Fund, Idea Bank was at risk of bankruptcy, “there were no indications that possible supervisory actions or activities of Idea Bank would allow the bankruptcy to be removed in due time.” It was also stressed that “the initiation of the compulsory restructuring of Idea Bank was necessary in the public interest”.


He disagreed with this decision, inter alia, owner of the Getin Holding Group and chairman of the Supervisory Board of Idea Bank Leszek Czarnecki, who in January this year. in “Fakty po Faktach” on TVN24 announced that an appeal against the BFG decision would be lodged with the Provincial Administrative Court in Warsaw.

As he said, “the so-called resolution, ie the expropriation of owners of the bank’s assets” may occur, inter alia, when the bank is at risk of bankruptcy. – We absolutely do not agree with that – emphasized Czarnecki. He added that it was not true that the shareholders did not want to save the bank.

– It is difficult for me to understand this decision other than in the category – the one that President Chrzanowski told me about – “Zdzisław’s plan” taking over my banks. It was not possible to take them over, we did not manage to arrest me, so we are returning to the “Zdzisław plan”, Czarnecki said earlier in an interview with TVN24.

Main photo source: TVN24

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