For the first time in five years, KBC is going to change the fees of certain bank accounts and related services for private individuals.
These changes will apply from 1 September 2019.
Monday, June 17, 2019 — In addition to the ‘à la carte’ KBC Current Account, KBC and KBC Brussels offer their customers two payment packages: the free KBC Basic Account and the fee-based KBC Plus Account. Almost 80% of KBC customers opt for a KBC Plus Account. Each package consists of a current account, bank card, access to mobile and online banking, and a number of (optional, paid) banking services to go with it.
KBC is adjusting a number of fees for the first time in five years:
- The monthly fee for the KBC Plus Account will increase from 2 euros to 2.50 euros. The price of the optional credit cards in this package will remain the same. The KBC Basic Account will remain free of charge. Anyone wishing to supplement their KBC Basic Account with options that require a high degree of manual intervention and for which free digital alternatives are available, will pay more from 1 September 2019 onwards. These changes for manual options also apply in a number of cases to the KBC Plus Account and the KBC Current Account (bank account created ‘à la carte’ by the customer).
- The monthly fee for the KBC Current Account will go from 1.25 euros to 1.75 euros. With this account, manual transactions remain free of charge for the over-65s and the disabled.
- The KBC-Plus Account remains free of charge for young people up to and including the age of 24.
- The monthly fee of the KBC Basic Banking Service will go from 1 euro to 1.25 euros.
KBC and KBC Brussels will inform their customers individually and in writing of these changes.
Patrick Tans, Senior General Manager Banking, Products & Transformation KBC, Belgium Business Unit, explains the decisions: "Five years ago, we launched our free KBC Basic Account and the fee-based KBC Plus Account. Nearly 80% of KBC customers opt for a KBC Plus Account, a comprehensive package tailored to their needs. In recent years, we have systematically increased the added value of our offer and have also greatly expanded our digital offer. And that has clearly caught on. We’ve noticed that more and more customers are using our free digital offer. At the same time, we have been making efforts for years to guide and support our customers who are not yet so familiar with the digital world. We organise free training sessions (more than 20 000 customers have already participated in our DigiWise training sessions since its launch in March 2018) or our branch staff provide individual, tailored support. We will continue these efforts. After all, we have noticed that customers aged 55 and over are increasingly jumping on the digital bandwagon and are embracing the many possibilities we offer via KBC Mobile and KBC Touch, among other things. But also among the over-65s, we’re seeing a significant increase in the degree of digitisation.
On 1 September, we will adjust the fees for a number of services that require a high degree of manual intervention and for which free digital alternatives are available. It remains our ambition to offer our customers a state of the art, modern, innovative service and user experience, tailored to their needs."
a) Which fees will change from 1 September 2019 onwards?
KBC Plus Account fee
From 1 September, the monthly fee will be 2.5 euros (currently 2 euros).
The price of the optional credit card linked to it will not change.
It is the first fee adjustment since this package account was launched in June 2014.
2. 'Manual' options/transactions on KBC Basic Account and KBC Current Account
Customers who wish to receive a number of additional banking services (options) in addition to the standard offering of the free KBC Basic Account and the basic offering of the fee-based KBC Current Account, will pay for them separately. The fees for a number of services and transactions that require a high degree of manual intervention or processing and for which free digital alternatives are available, will increase as of 1 September 2019.
These transactions remain free of charge with a KBC Current Account for persons over 65 years of age and disabled persons.
KBC has 1 184 ATMs in Flanders and Brussels. A large number of these ATMs already allow you to withdraw cash with the contactless bank card or via the Mobile Cash function in KBC Mobile. These new ATMs also issue smaller denominations of 5 and 10 euros, in addition to the familiar 20- and 50-euro banknotes.
c) Lesser-used options for the KBC Basic Account, KBC Plus Account and KBC Current Account for which user-friendly and free digital alternatives exist.
For a number of less widely used and separately charged payment services/options (e.g., cheques), fast, reliable and user-friendly alternatives exist today and are appreciated by an increasing number of customers (e.g., digital transfers).
KBC will adjust the fee for these separately charged payment services for the KBC Plus Account, the KBC Basic Account and the KBC Current Account.
KBC has also noted that the demand for paper account statements by both private customers and businesses is decreasing by around 15% annually. Customers can retrieve and save their account statements digitally much easier, faster and free of charge.
If a direct debit cannot be executed because the customer’s account has insufficient funds, a fee of 6.05 euros will be charged from 1 November 2019. However, customers can avoid paying this one-off fee for a non-executed direct debit due to insufficient funding by activating a push notification in their KBC Mobile. In doing so, they will receive a message when a direct debit is to be offered for payment and they will be able to make sure the necessary funding is available on their account in time.
New fee (incl. VAT)
Writing out cheques (per cheque)
Ordering cheques (per cheque)
Crediting a cheque on an account
International paper-based transfer at the counter*
Sending monthly paper-based account statement (price per month)*
Sending daily paper-based account statement (price per month)*
If a direct debit cannot be executed because there is insufficient money in the account
6.05 euros (from 1 November)
*This increase also applies to the KBC Basic Banking Service.
Note to the editors
Brief overview of the most important account types
A detailed overview of these types of accounts can be found on the KBC website:
a) The free KBC Basic Account
This type of account includes the basic payment functions and entitles the customer, free of charge, to:
- One bank card (usable for payments throughout Europe)
- Contactless payment by bank card
- Online banking with computer and tablet (KBC Touch)
- Mobile banking with smartphone (KBC Mobile)
- Cash withdrawals at KBC/KBC Brussels and CBC ATMs
b) KBC Plus Account
The KBC Plus Account includes a more extensive payment package than the KBC Basic Account. In addition to these basic payment functions, the monthly fee also entitles the account holder, among other things, to:
- Two bank cards (usable for payments throughout Europe)
- Optional credit cards (paid option depending on the type of credit card)
- Twice a year, a personalised bank card with a photo of your choice
- Instant payment transfers
- Cash withdrawals from all ATMs in the euro area