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Transfer of my account from Raphaels Bank (UK) to Sogexia SA (Luxembourg)

Why this transfer?

We have been authorised in Luxembourg as a payment institution.

This licence will enable us to take over your Sogexia account currently held by Raphaels Bank in the UK.

This change will have many positive consequences:

  • Your account will be fully protected against Brexit;
  • Several new features will be launched in the course of 2020:
    • 3D Secure;
    • French IBAN;
    • Additional cards;
    • Direct debits;
    • Check cashing;
    • Increase of limits;
    • International transfers.
  • We will be able to better control the quality of our services because we will manage the whole value chain internally.

When will this change take place?

The migration date of your account is scheduled on 18th February 2020.

How to accept this transfer?

For legal reasons, we need to get your consent so that your account can officially be migrated to our own institution.

To accept this transfer, you just need to log in to your Sogexia account. A page will be displayed and you will need to click on one of the following 2 buttons:

  • I AGREE TO THE TRANSFER OF MY SOGEXIA ACCOUNT TO SOGEXIA SA
  • I REFUSE THE TRANSFER OF MY ACCOUNT AND UNDERSTAND THAT IT WILL BE CLOSED ON THE MIGRATION DATE

If you click on "I REFUSE", you will still be able to access your account up to the migration date and you will be able to to accept the transfer at any moment (the message will be displayed once a week automatically). After this date, your account will be closed.

Will my IBAN change?

Yes, your existing IBAN starting with the letters "GB" will be deactivated from 18th February 2020 evening. Until then, you can still use it without any problem.

A new Luxembourg IBAN will replace your existing GB IBAN from 19th February 2020. It is already available on your online account, "My IBAN" tab, to let you enough time to update it with your different creditors.

My new IBAN is invalid, why?

If you try as of now to register your new IBAN with another bank, an error message might appear on their interface. If this happens, no worries. Our BIC (SOXALULL) is new, therefore this error message won’t appear anymore once the bank in question update its system to integrate the latest official interbank routing tables. To check that your new IBAN is valid, do not hesitate to enter it on the following website updated in real time: https://www.iban.com/iban-checker

Will my username and my Sogexia cards change?

No, your username and your Sogexia cards won't change. Only the IBAN will change from the migration date.

 

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