The mobile-only platform will provide real-time balances, mobile payment and a virtual adviser that is available 24 hours a day, seven days a week.

Via the Orange Bank platform customers can send money by SMS and temporarily deactivate or reactivate their card.

Orange Bank customers also have access to a network of stores with 890 specially trained intermediaries in bank operations and payment services employees in 140 authorised stores.

Opening an account with Orange provides a fee-free current account (if the means of payment linked to the account –card or mobile – are used at least three times a month), a bank card, an authorised overdraft, a free complementary insurance package and a savings account remunerated at 1% interest.

The group intends to gradually introduce new services, such as personal loans or mortgages.

Orange Bank customers will also receive a welcome premium of €80 once they start using Orange Bank's means of payment, while Orange or Sosh customers will get an additional €40.

Stéphane Richard, the chairman and CEO of Orange, said: "With Orange Bank, this is an important new chapter in our history: Orange is now also a bank.

“A 100% mobile-based bank that is dedicated to providing an incomparable user experience.

“A bank that combines the best innovations available on the market today into a single offer.

“A bank that will listen to its customers and constantly enrich its offer and its features to meet their expectations.

“In short, a bank with the customer at its heart.

“I am particularly pleased that our customers can discover and benefit from it today."

Orange Bank aims to reach more than two million customers in France within 10 years.