In 2020, Oxfam France estimated that the carbon footprint of the top six French banks – BNP Paribas, Crédit Agricole, Société Générale, BPCE, La Banque Postale and Crédit Mutuel – represented almost 8 times the greenhouse gas emissions of the whole of France. Faced with this alarming data, Maeva Courtois and Julia Ménayas founded Helios, an alternative banking solution where customers’ money is not used to finance companies that pollute. But does this neobank measure up to the many fintechs that have emerged on the European market in recent years? Today, Milesopedia gives its opinion on Helios, the “committed” eco-bank.
Helios, a Sustainable Bank?
Helios was founded in 2020 by Maeva Courtois and Julia Ménayas to offer an alternative to consumers who no longer want their money deposited in traditional banks to be used to finance polluting industries. A year later, the neobank acquired the “Fossil-free Certified” seal from Bank.Green, certifying that it was fossil fuel free.
Today, the French bank has over 20,000 users and the backing of several influential investors. In 2022, the startup raised 9 million euros from Racine2, a fund managed by Serena and makesense, and RAISE Seed For Good, as well as from well-known business angels such as Hugues Le Bret, founder of Compte Nickel, and the heads of startups such as Malt, Swile, Meero and Blissim.
Since Helios is associated with Solarisa German banking solution whose business is to offer other organizations access to its payment technology and enable them to trace every euro invested, it is able to ensure that all funds are invested in a project supporting the ecological transition. Its excluded sectors are coal, oil, gas and shale oil, factory farming, agricultural monoculture, chemical pesticides, armaments and industrial engineering.
Helios is committed to supporting a sustainable economy that respects the environment, and to taking part in the ecological transition. It is audited annually by an independent third-party organization to ensure that it is meeting its various social and environmental objectives.
Supported Projects
The bank invests 100% in French projects related to ecological issues and in one (or more) of the sectors supported by the neobank:
- Sustainable agriculture
- Low-carbon mobility
- Energy efficiency
- Renewable energies
- Ecosystem conservation
- Water purification.
Funded projects include :
- Kwita Wije, a photovoltaic power plant developed in New Caledonia
- Maera, a wastewater treatment plant in Montpellier that purifies wastewater and creates green energy from sludge methanization.
- Hopium, the first French manufacturer of hydrogen-powered vehicles
Helios Accounts
Helios includes only one true account, the current account. However, the startup also offers a youth account (for 18-23 year-olds), a joint account, as well as an Avenir account (savings), included with the current account. The savings account allows you to set your own saving targets, with fund security of up to 100,000 euros. This is a great way to help you support the low-carbon economy from the very first euro you deposit.
Current Account
The current account is Helios Bank’s primary product. For just six euros a month, it gives you :
- Customizable payment limits
- The ability to make lightning transfers
- A French IBAN
- Free foreign payments
- 6% cashback from Tous Consom’acteurs ethical partners
- A free virtual card
- A dashboard to manage your budget
- A team of dedicated advisors
- Avenir account for better savings
True to its mission, Helios also enables its users to track the bank’s level of pollution reduction in real time, notably by making public the total funds received and the tonnes of CO2 avoided since the launch of ecological accounts. The young neobank also allows account holders to be involved in the app’s construction, either through surveys or focus groups.
Youth Account
The youth account is for people aged 18 to 23. It offers all the same advantages as the current account, but – thanks to its reduced rate – allows us to “support the younger generations who want to play an active role in the ecological transition”.
Joint Account
The Helios Bank joint account is, in our opinion, ideal for couples or flatmates looking for a way to better share day-to-day expenses. It can be controlled by two people, considerably by sending notifications of each expense and making it easy to track account statistics to find out who spends the most and who contributes the least. We also appreciate the end of month balance function, which allows you to balance your accounts… Impartiality guaranteed!
Compte Avenir
The Avenir account/booklet is offered free of charge to all Helios account holders. Funds are secured up to 100,000 euros, and can be accessed at any time, as with any traditional bank. Transfers between Helios and Avenir accounts are instantaneous, so you can quickly access your funds.
In keeping with our commitment to eco-responsibility, the Avenir account/booklet lets you choose which eco-responsible projects to support with your savings, whether it’s the development of solar power plants, renewable energies or sustainable agriculture. It should be noted, however, that it is not interest-bearing, unlike the passbooks offered by Distingo and Cashbee.
Rates and Benefits
The various accounts offered by Helios all offer the same advantages. What changes is the price. The current account is offered at 6 euros a month, while the youth account, available to anyone aged 18 to 23, is offered at three euros a month. The joint account is available from 3 euros per month per person.
Here are the advantages offered by the various Helios accounts:
Current account | Youth account | Joint account | |
Price | 6 € / month | 3 € / month | 3 € / month / person |
Credit Cards | Virtual card + Free natural cherry wood or recycled plastic card | Virtual card + Free natural cherry wood or recycled plastic card | Virtual card + Free natural cherry wood or recycled plastic card |
Payments in the euro zone | Free | Free | Free |
Foreign payments | Free of charge up to €2,000/month, otherwise 1% of the payment amount | Free of charge up to €2,000/month, otherwise 1% of the payment amount | Free of charge up to €2,000/month, otherwise 1% of the payment amount |
Sub-accounts | Free Avenir account | Free Avenir account | Free Avenir account |
Free euro withdrawals | 5 free withdrawals / month | 5 free withdrawals / month | 5 free withdrawals / month |
Free currency withdrawals | €1.50 per withdrawal + 1% of the amount withdrawn | €1.50 per withdrawal + 1% of the amount withdrawn | €1.50 per withdrawal + 1% of the amount withdrawn |
European IBAN | Yes | Yes | Yes |
Instant transfers | Yes | Yes | Yes |
Cashback | 6% discount with ethical partners | 6% discount with ethical partners | 6% discount with ethical partners |
Priority Customer Support | Yes | Yes | Yes |
For the time being, the online bank offers no insurance, unlike some of its competitors, such as N26, Hello bank!, BforBank and Boursorama Banque. Nevertheless, it’s worth mentioning that Helios, whose offers are constantly being improved, is working relentlessly to deliver new features. In particular, the startup is about to offer its users ethical life insurance.
Opening an Account
Creating an account with Helios couldn’t be easier, as there’s no need to leave your bank to join the ranks of the ecological bank. There are two steps to opening your first account:
- Go to the Helios Bank website to download the application.
- Confirm your identity by uploading a valid ID.
Once your account has been validated, you’ll be able to use your RIB and your virtual card on Apple pay. The wooden or recycled plastic card will be delivered to you within ten working days.
Income Requirements
Helios has no income or asset requirements. To be eligible to open an account with the ecobank, you must be of legal age, live in mainland France and have a valid form of identification. In all, more than 50 countries are accepted.
Banque Helios - General Notice
Among French online banks, Helios stands out for its positive impact and human values. In our opinion, Helios is an excellent alternative to the big French banks for those looking for an eco-responsible banking solution. As it promises total transparency, its users know exactly where their money is invested, and can be sure that it is not helping to enrich sectors that are harmful to the environment.
Travelers looking for a bank card that allows them to make purchases and withdrawals abroad free of charge will nevertheless be disappointed by Helios’ offer. The online bank doesn’t offer a dedicated account for travelers; withdrawals and payments abroad are charged by Helios at what we consider to be fairly substantial sums.
Having two cards will allow you to contribute to the ecological transition with your savings, and ensure that you’re not at a disadvantage when flying. And if you want to save even more, don’t hesitate to turn to Distingo, Younited Crédit or Cashbee, companies that allow you to grow your investments with term accounts that are protected from the ups and downs of the market.
Bottom Line
Helios offers much more than just a financial service. Ecological banking pursues social and environmental objectives whose importance can no longer be denied in these times. By choosing Helios, you are actively supporting the transition to a sustainable future. By putting ecology at the heart of its actions, the online bank is helping to preserve the environment, and by financing ecological projects and offering responsible investment options, it is committed to transparency and financial education, enabling customers to make informed decisions for their future and that of the planet.
Frequently Asked Questions About Helios
Who's behind Helios Bank?
Based between Nantes and Paris, Helios is a French bank. It is associated with the German bank Solarisbank, which lends it its infrastructure and credit institution license.
Where can I download the Helios application?
The Helios – The Ecological Account application is available free of charge on the Helios Bank website.
In which countries is Helios Bank available?
For the moment, Helios is only available in France. To be eligible to open an account with the ecobank, you must be of legal age, live in mainland France and have a valid form of identification.
What cards does Helios offer?
The eco-responsible bank’s cards are Visa-Debit cards. Each offer also comes with a virtual card.
Is it possible to have a French IBAN/RIB with the Helios bank?
Yes, Helios offers a French IBAN/RIB since January 2024.
How to contact Helios
As Helios is an online bank, it can be difficult to speak to an advisor face-to-face. However, Helios customer service can be contacted at any time by emailing contact@helios.do. If you have a complaint, please contact the complaints department at reclamation@helios.do.
What is the maximum limit for Helios accounts?
At Helios, payment and withdrawal limits are combined. These are set at 3,000 euros per month, up to a maximum of 2,000 euros per day. It’s worth noting, however, that your card limit can be changed in real time via the Helios application.
How do I pay with Helios?
To top up your Helios account, you’ll need to make transfers. To date, the eco-responsible bank does not accept cheques or cash deposits.
Does Helios Bank offer business accounts?
For the time being, the eco-responsible bank does not offer any options for professionals. If you’re looking for a pro option, we recommend Revolut Business or Qonto.
Which banks are the greenest?
France’s greenest banks include Helios, La Nef, Le Crédit Coopératif and Green Got.
Which bank to choose: Helios.do or Green Got?
As the French eco-banks Green Got and Helios both have the important Bank.Green“Fossil-free Certified” seal of approval, they are at the top of the list of banks most appreciated by users looking for an eco-friendly financial solution. In our opinion, however, the Helios offer is more comprehensive, as the neobank offers a joint account as well as a savings account, which Green Got does not yet offer. bunq is also an interesting green bank.