Coronavirus: frequently asked questions

Coronavirus: frequently asked questions

Important: We’ll be regularly updating this page, so keep checking back for our latest updates.

31 March update: Belgium’s federal Minister of Finance and financial industry regulator Febelfin have drawn up repayment holiday schemes for those having difficulties repaying their mortgages or business loans.

Now that the Covid-19 situation is getting back to some degree of normality, more and more of the measures that had been put in place are starting to be relaxed. As a result, we are increasing access to our branches from 11 May so you have more opportunity to discuss your banking and insurance matters with us face-to-face. However, as in previous weeks, all visits are by appointment only.

Need to make an appointment?

Contact your usual KBC Brussels branch or KBC Brussels Live and we'll look at the possibilities together. You can rest assured that we are taking every precaution necessary to ensure your visit takes place under the safest possible conditions.

It's also important that you take the necessary precautions yourself:

  • Keep a distance of at least 1.5 metres
  • Use the disinfecting hand sanitiser we're providing
  • If you have a face mask, feel free to wear it

Don't think a visit to the branch is necessary?

Check out our list of FAQs below or contact us through the usual channels.

Got a specific question and can’t find the answer in the list of FAQs? Just e-mail it to us at corona@kbc.be and we’ll help you to the very best of our ability.

See the Belgian federal public health authorities website for more general information on the coronavirus.

Quick links

Using our services

Do I still have access to my branch/insurance agency and when are they open?

Our branches and insurance agencies are only open by appointment until further notice. Feel free to call your KBC Brussels branch (on their general number) or insurance agent.

Can I contact KBC Brussels Live and when are they open?

Contact our KBC Brussels Live experts using our KBC Brussels Mobile app or call them on 02 303 31 60 (weekdays from 8 a.m. to 10 p.m. – Saturdays from 9 a.m. to 5 p.m.) for more help.

Payments

Can I manage my banking and insurance remotely?

You can do all your key banking and insurance business with us online on your phone, tablet or computer using our KBC Brussels Mobile and KBC Brussels Touch apps.

That means it’s easy to manage your everyday banking and insurance with us without leaving your home, especially if you’re self-isolating. See our guides to learn more.

How do I install KBC Brussels Mobile?

Go to Google Play or Apple’s App Store on your phone and install the app (just follow the instructions on your phone).

See our installation guide and demo.

How do I install KBC Brussels Touch?

You can use KBC Brussels Touch on your computer or tablet. See our guide to logging in to KBC Brussels Touch.

How do I transfer money?

KBC Brussels Mobile:

  1. Log in to KBC Brussels Mobile on your phone and tap the blue circle with the two arrows at the bottom right
  2. Choose the type of transfer you want to make: to another account or to one of your own
  3. Tap another account to make a cross-border transfer and select the account to be debited
  4. Enter the beneficiary’s details or – for a foreign account – tap the flag next to the account number
  5. Enter the amount, execution date and reference, then tap ‘Continue’
  6. Check the details of your transfer are correct and tap ‘Confirm’ to sign it using your PIN
  7. The transfer will be scheduled for a later date or be carried out if you are making immediate payment

KBC Brussels Touch:

  1. Log in to KBC Brussels Touch on your PC or tablet
  2. Tap or click ‘Transfer’ in the menu at the top right of the screen
  3. Choose between a ‘SEPA Credit Transfer’ and an ‘International transfer’ (a domestic transfer falls under ‘SEPA Credit Transfer’)
  4. Fill in the various fields
  5. Hit ‘Sign’ at the bottom
  6. Enter your PIN
  7. Your transfer will be made

How do I pay a friend?

See ‘How do I make a transfer?’ and follow the guide there.

How do I pay online?

Most websites let you pay by

  • Maestro or Bancontact
  • Mastercard or Visa
  • KBC Brussels Payment Button

See our guide to paying online.

How do I get account statements using KBC Brussels Touch?

KBC Brussels Touch gives you access to your account statements for three months, during which time you can view, download, save and/or print them. Even if you’ve already read them, they still remain available there for three months. You don’t get notified when new statements become available.

Print a guide

How do I change my debit card limits using KBC Brussels Touch?

You can set how much you can spend or withdraw with your debit card per day or per week. See how:

  1. Go to ‘Payments’ in KBC Brussels Touch and tap or click ‘... More’ at the top right
  2. Select ‘Debit cards’
  3. Select the debit card whose limits you want to change
  4. Open the ‘Manage’ tab
  5. Tap or click ‘Available amount for cash withdrawals in euro’ and/or ‘You can still transfer’
  6. Set your limits
  7. Hit ‘Save’
  8. Sign using your PIN

What are the limits for my debit card?

Standard limits

  Adults Minors
Daily limit for cash withdrawals* 650 euros 120 euros
Weekly limit for cash withdrawals 2 500 euros 900 euros
Weekly limit for payments 2 500 euros 900 euros

Maximum limits

  Adults Minors
Daily limit for cash withdrawals 2 500 euros 500 euros
Weekly limit for cash withdrawals 10 000 euros 5 000 euros
Weekly limit for payments 10 000 euros 2 500 euros
PIN-less payments*

25 euros per purchase

50 euros per parking session

25 euros per purchase

If you make several purchases one after the other at a payment terminal that hasn’t got a number keypad (vending machines or car park ticket machines) and they add up to 50 euros or more, you then have to pay using your PIN or enter your PIN at an ATM before you can make another PIN-less payment.

Can I still pay by cash?

While the Belgian federal public health authorities say that cash payments don’t pose a risk in that cash does not transmit the virus, they do encourage paying electronically to respect social distancing rules.

Can I still make cash withdrawals at KBC Brussels branches?

You can still use the ATMs in the self-service lobbies at our branches, though bear in mind that they’re closed at night. Use our branch finder to see our nearby ATMs and opening hours.

Can I deposit cash or do I need an appointment to do so?

Some of our ATMs let you make cash deposits. If this feature isn’t available, get in touch with your KBC Brussels branch (by phone or e-mail), your usual contact or KBC Brussels Live for more help.

Can I still use KBC Brussels ATMs to make transfers or get statements, or do I need to make an appointment to do so?

You don’t have to make an appointment for this. You can still use the ATMs in the self-service lobbies at our branches, though bear in mind that they’re closed at night. Use our branch finder to see our nearby ATMs and opening hours.

Can I hand over my paper transfer forms at KBC Brussels branches and, if so, do I need to make an appointment?

Given the present situation, you can’t just go into a branch and hand over your transfer forms at the counter. If you want to hand over paper transfer forms or indeed collect new forms you’ve ordered, you’ll need to make an appointment.

Can I temporarily or permanently raise the limit for PIN-less contactless payments?

No, you can’t at the moment. We’re hearing this question more and more though, so we and our partners are looking into what can be done in the future. The current limits continue to apply for the time being.

Learn more about paying by contactless.

Can I still pay by cash?

While the Belgian federal public health authorities say that cash payments do not pose a risk in that cash does not transmit the virus, they do encourage paying electronically to respect social distancing rules.

Can I still make cash withdrawals at KBC Brussels branches?

You can still use the ATMs in the self-service lobbies at our branches, though bear in mind that they’re closed at night. Use our branch finder to see our nearby ATMs and opening hours.

Can I deposit cash or do I need an appointment to do so?

Some of our ATMs let you make cash deposits. If this feature isn’t available, get in touch with your KBC Brussels branch (by phone or e-mail), your usual contact or KBC Brussels Live for more help.

Can I still use KBC Brussels ATMs to make transfers or get statements, or do I need to make an appointment to do so?

You don’t have to make an appointment for this. You can still use the ATMs in the self-service lobbies at our branches, though bear in mind that they’re closed at night. Use our branch finder to see our nearby ATMs and opening hours.

Can I hand over my paper transfer forms at KBC Brussels branches and, if so, do I need to make an appointment?

Given the present situation, you can’t just go into a branch and hand over your transfer forms at the counter. If you want to hand over paper transfer forms or indeed collect new forms you’ve ordered, you’ll need to make an appointment.

Loans

All about mortgage loans and business loans

Belgium’s federal Minister of Finance and financial industry regulator Febelfin have drawn up repayment holiday schemes for those having difficulties repaying their mortgages or business loans.

The coronavirus crisis is having a severe impact on Belgium’s economy and that’s putting financial pressure on a lot of people. Many are in danger of losing their jobs or having to get by with less or even no income at all, while financial expenses and obligations still have to be met.

This led to the 22 March announcement by Federal Minister of Finance Alexander De Croo, the National Bank of Belgium and Febelfin, that financial support would be available to individuals and businesses suffering financial difficulties due to the coronavirus outbreak. This includes the possibility of applying for a repayment holiday of up to six months for mortgages and business loans, without incurring any bank charges or penalties.

The measure is part of a package put together by the federal Minister and Febelfin, with separate support schemes for those having difficulties repaying their mortgages or business loans.

We’re working hard on implementing these support measures and will provide more details in the days ahead.

What if my employer has decided to close my place of work for three weeks and I’m worried about making my monthly loan repayments?

Am I eligible for a home loan repayment holiday?

Can I take a loan repayment holiday?

Can I apply for a personal or bridging loan online to get through these difficult times, what are the eligibility criteria and, if I’m eligible, how soon would the money be on my account?

If you’re having difficulty making your monthly loan repayments because you’re temporarily unemployed or had to close your business, make an appointment with your KBC Brussels branch (by phone or e-mail) or get in touch with your regular contact or KBC Brussels Live to see how we can help. That includes the option of taking out another loan, which may be the best solution for you.

Eligibility for this depends on the type of loan. If you are eligible to take out another loan, the money can be made available to you quite quickly.

I bought a new home at the end of 2019, but still haven’t sold my old one. Where do I stand with my bridging loan?

If you’re having difficulty repaying your bridging loan because you’re temporarily unemployed or had to close your business, make an appointment with your KBC Brussels branch (by phone or e-mail) or get in touch with your usual contact or KBC Brussels Live to see how we can help.

Does my mortgage loan come with guaranteed housing insurance and, if so, how do I activate this insurance?

Free guaranteed housing insurance is a Flemish government initiative. Strict conditions apply. If you fulfil them, you can activate the insurance through the insurer, Ethias.

We only give the necessary documents to customers who have taken out a home loan and might be eligible for this insurance. You have to activate the insurance yourself by no later than one year after taking out your home loan.

If you have activated guaranteed housing insurance, you should contact Ethias to see what they can do for you in the current circumstances.

See the Flemish government’s website to learn more about guaranteed housing insurance (in Dutch).

I’m considering buying a building plot/house/apartment, but having second thoughts due to the coronavirus situation. Is now the right time to buy with interest rates falling? Could the current situation have consequences for me later if I decide to buy now or should I put off buying for a while?

There’s no direct reason to postpone buying a building plot or home.
That said, the coronavirus situation does create a number issues that make the practicalities of actually going ahead with such a purchase difficult:

  • Is it possible to view properties?
  • Are there still notary publics available to draw up the necessary deeds?
  • How is the current situation affecting you financially and do you have enough financial breathing space to take out a home loan?

If you have specific questions about this, make an appointment with your KBC Brussels branch (by phone or e-mail) or get in touch with your usual contact or KBC Brussels Live to see how we can help.

Do I still have to pay the commitment fee for my home loan now that the construction or renovation work on my home has come to a standstill due to the coronavirus situation?

If you are unable to continue drawing on your home loan because the works have come to a standstill as a result of the coronavirus situation and you are subsequently charged a commitment fee, make an appointment with your KBC Brussels branch (by phone or e-mail) or get in touch with your usual contact or KBC Brussels Live to see how we can help.

Can the period for drawing on a home loan be extended free of charge now that the works on my home have come to a standstill due to the coronavirus situation?

The standard period for drawing down a home loan is 24 months (two years after the loan deed has been executed). If you’re nearing this deadline with your home loan, make an appointment with your KBC Brussels branch (by phone or e-mail) or get in touch with your usual contact or KBC Brussels Live to see how we can help.

Can I take a mortgage repayment holiday if I temp and don’t have any work as a result of the coronavirus situation?

I still have my permanent job and am not temporarily unemployed, but I’ve lost my flexi-job, which makes it difficult for me to pay off my home loan. Am I eligible for a mortgage repayment holiday?

I pay off my mortgage using rental income, but my tenants are temporarily unemployed and unable to pay their rent. Am I eligible for a mortgage repayment holiday?

The coronavirus situation has forced me to close my business. Am I eligible for a mortgage repayment holiday?

What do I have to do to apply for a mortgage repayment holiday due to the coronavirus situation?

All about consumer credits (instalment loans, KBC Brussels Flex Budget, KBC Brussels Budget Facility,...)

Can I take a repayment holiday on my instalment loan, credit card (with KBC Brussels Flex Budget facility) or arranged overdraft (KBC Brussels Budget Facility)?

Yes. You can apply for one from 25 May through 31 July 2020, provided you meet a number of conditions.

You can take a repayment holiday of up to three months, then extend it once by another three months. When you take an instalment loan repayment holiday, you take a break from paying off both the principal and the interest. If you have a KBC Brussels Flex Budget facility or KBC Brussels Budget Facility, you get a break from paying back the amount overdrawn, but you still have to pay interest.

Do I qualify for a repayment holiday on my instalment loan, credit card (with KBC Brussels Flex Budget facility) or arranged overdraft (KBC Brussels Budget Facility)?

To be eligible for a repayment holiday, you must have:

  • Lost some or all of your income due to the coronavirus crisis (your or your partner’s income)
  • Requested a repayment holiday or more time to clear the debt you owe on your loan or credit facility
  • No payment arrears exceeding a month on 1 April 2020
  • Met the conditions applying to instalment loans
  • Monthly repayments of at least 50 euros

How do I apply for a repayment holiday on my instalment loan, credit card (with KBC Brussels Flex Budget facility) or arranged overdraft (KBC Brussels Budget Facility)?

You can apply between 25 May and 31 July 2020 by contacting KBC Brussels Live or your usual KBC Brussels branch.

Our experts will check whether you meet the conditions for a repayment holiday and start your application if you do.

Can I use an arranged overdraft to overdraw my current account?

This isn’t available as standard. You can only go overdrawn on your account if you’ve linked a KBC Brussels Budget Facility to it. If you’re having financial problems difficulties in repaying your loans with us, contact your KBC Brussels branch (by phone or e-mail), your usual contact or KBC Brussels Live to see how we can help.

Can I temporarily spread my credit card repayments instead of having to repay the whole amount at once?

You can only spread your repayments if you have a credit card linked to a credit facility (KBC Brussels Flex Budget).

Repaying a loan has left my bank account empty. What can KBC Brussels do?

If you’re having difficulty making your monthly loan repayments because you’re temporarily unemployed or had to close your business, make an appointment with your KBC Brussels branch (by phone or e-mail) or get in touch with your regular contact or KBC Brussels Live to see how we can help.

What should I do if I’m unable to pay my bills?

You should contact those billing you to see if the payments can be postponed.

If you’re having difficulty making your monthly loan repayments because you’re temporarily unemployed or had to close your business, make an appointment with your KBC Brussels branch (by phone or e-mail) or get in touch with your regular contact or KBC Brussels Live to see how we can help.

Insurance

Is financial aid available to help pay for my insurance?

KBC Insurance and its fellow insurers in Belgium have come up with a package of financial support measures for people having trouble paying for their insurance in these difficult times.

Need a temporary break from repaying your loan?

You can apply for a repayment holiday for your home loan. Once your repayment holiday has been approved, you can also apply for a premium payment holiday for your mortgage protection insurance and/or home insurance.

Speak to your usual contact about the right option for you using our KBC Brussels Mobile app or by calling us on 02 303 31 60 (weekdays 8 a.m. to 10 p.m. – Saturdays 9 a.m. to 5 p.m.).

If I’m having trouble paying off my home loan, can I also apply for a premium payment holiday for my mortgage protection insurance and home insurance?

You can apply for a repayment holiday for your home loan. Once your repayment holiday has been approved, you can also apply for a premium payment holiday for your mortgage protection insurance and/or home insurance.

Speak to your usual contact about the right option for you using our KBC Brussels Mobile app or by calling us on 02 303 31 60 (weekdays 8 a.m. to 10 p.m. – Saturdays 9 a.m. to 5 p.m.).

If I have to go into hospital, will the costs involved be covered?

If you’re admitted to hospital with a coronavirus infection, you’re covered by your hospitalisation insurance policy. Admission to a Belgian hospital is always covered by the policy.

Does my assistance insurance cover the coronavirus?

If you become ill or are injured abroad, KBC Brussels will pay the costs of your medical care, hospital accommodation expenses and any transport costs necessary for the purpose of arranging care. These costs will be covered up to the sum insured specified in the policy (once the cover provided by the health insurance fund has been exhausted).

KBC Brussels will take care of your repatriation to Belgium, if your medical condition so requires.

When, how and where you are taken will be judged exclusively in accordance with this medical condition and in consultation with the doctor in attendance.

For all epidemics, including the coronavirus, KBC Brussels will always need to follow the rules and regulations imposed by the local authorities (like access to cities or hospitals) and comply with the sanitary and hygiene standards and regulations issued by the competent bodies (including quarantine). Government measures in other countries may delay us in helping you.

Learn more about our assistance insurance.

My scheduled hospitalisation has been postponed due to coronavirus measures. What does that mean for pre-hospitalisation expenses covered by my hospitalisation insurance?

Hospitalisation insurance usually covers your hospital stay, as well as any related expenses in the period before getting admitted to and after being discharged from hospital.

KBC Insurance is temporarily broadening the conditions for the length of time it would normally cover prior to and following hospital admission. This means that the pre-hospitalisation period will be extended from the date you were originally scheduled to go into hospital to the date you’re actually admitted.

If you are in this situation, please let us know the date you were admitted to hospital using our KBC Brussels Mobile or KBC Brussels Touch app or by calling 0800 900 68 (option 1).

I’ve already been treated in hospital, but I’m unable to receive follow-up treatment (like physiotherapy). What does that mean for pre- and post-hospitalisation expenses covered by my hospitalisation insurance?

Hospitalisation insurance usually covers your hospital stay, as well as any related expenses in the period before getting admitted to and after being discharged from hospital.

In the case of hospital admissions that were postponed and took place before 18 May 2020, KBC Insurance is temporarily broadening the conditions for the length of time it would normally cover following hospitalisation. In cases like this, we’re extending our post-hospitalisation period by three months.

If you are in this situation, please e-mail us at schade.hospitalisatie@verz.kbc.be or call us on 0800 900 68 (option 2).

Are my hospitalisation expenses covered if I’m admitted to a hospital abroad?

Cover for hospitalisation abroad depends on the general conditions of your policy. Under the current conditions, (a limited part of) the cost is covered. Even if you have travelled to a high-risk area against Foreign Office advice, we’ll still help pay for hospitalisation due to a coronavirus infection as specified in the general conditions.

How is my car insurance affected if I’m involved in an accident during the coronavirus crisis and am unable to get to the vehicle inspection centre in time due to the coronavirus measures?

If you have an accident and couldn’t make it to the vehicle inspection centre in time because it was closed, your vehicle stays insured.

See more on the validity of your vehicle inspection certificate.

Can I still get roadside assistance from VAB or is your service affected by official coronavirus measures?

We’ll continue to do our utmost to help you, though official measures being taken in Belgium and abroad are having a considerable impact on our services.

We’re closely following government recommendations and have already taken a number of measures to protect the health of our customers and our VAB roadside patrols. We are endeavouring in particular to:

  • Limit the use of cash
  • Avoid rescued drivers travelling alongside our patrol staff in the cabin of their recovery vehicle. However, if a driver does, they'll have to wear a face mask.
  • Clean and sanitise our replacement vehicles even more thoroughly
  • Tow broken down vehicles to repair services on weekdays rather than weekends where possible

How do I file a hospitalisation claim for myself or a family member with KBC Brussels?

  • Use our KBC Brussels Mobile and KBC Brussels Touch apps
  • Call us on 0800 90 068: Monday to Friday from 8 a.m. to 12 noon and from 1 p.m. to 5 p.m.
KBC Brussels Mobile KBC Brussels Touch
  1. Log in to KBC Brussels Mobile on your phone
  2. Tap ‘More’ at the bottom right and then ‘Family’
  3. Select your hospitalisation insurance to go to ‘Manage’ and start filing your claim
  4. See immediately whether your expenses are covered
  1. Log in to KBC Brussels Touch on your laptop or tablet
  2. Go to ‘Family’
  3. Select your hospitalisation insurance and start filing your claim
  4. See immediately whether your expenses are covered

My flight has been cancelled by the airline. What am I entitled to?

Our travel cancellation insurance policies don’t cover cancelled flight costs. You should contact the travel agency, tour operator or airline to ask them whether you can get a refund or change or postpone your trip.

The European regulations impose specific obligations on airlines based in the European Union. See the Federal Public Service for Economic Affairs website (in Dutch or French) to learn more about your rights when an airline cancels your flights.

My trip has been cancelled by the travel organisation. What am I entitled to?

Our travel cancellation insurance policies don’t cover cancelled trip expenses. You should contact the travel agency, tour operator or transport operator to ask them whether you can get a refund or change or postpone your trip.

There are statutory protections in place for package holidays. See the Federal Public Service for Economic Affairs website (in Dutch or French) to learn more about your rights when a travel organisation cancels your trip.

I have to postpone my trip due to the coronavirus. Does my insurance cover the cancellation costs?

No, the outbreak of the coronavirus in the country that you're planning to travel to from Belgium, a travel warning issued by the Belgian authorities (general travel ban in Belgium) or a ban on entering the country you're going to due to the coronavirus is not a valid reason for cancelling your trip.

We recommend that you contact your travel agency, tour operator or transport operator to enquire about a possible cancellation. If you organised your trip yourself, you must contact the various service providers (like the airline and hotel) to check the options available. Accommodation costs are subject to the hotel’s general conditions. Some hotels have very lenient cancellation policies, allowing you to cancel your reservation free of charge up to the last minute, while others will charge you for the first night in the event of a no-show. If you received a generous discount because you booked your trip very early, you generally won’t be able to cancel it for any reason.

Learn more about our cancellation insurance.

Can I still travel abroad?

Follow official guidelines available on the Belgian federal public health authorities website.

Savings and investments

Should I leave my savings where they are or are there alternatives?

There are indeed alternatives. Make an appointment with one of our wealth management experts to see which ones suit you and your risk profile best. Just get in touch with your usual contact or KBC Brussels Live for more help with this.

Is the coronavirus outbreak affecting my investments and should I be changing them accordingly?

Current market conditions are definitely having an impact on your investments. How much depends on your investments and whether they’re capital-protected, as many of our investment products are.

Make an appointment with one of our wealth management experts to find out whether you should change your current investment strategy. Just get in touch with your usual contact or KBC Brussels Live for more help with this.

Can I make an appointment with an adviser who specialises in share investments?

Our KBC Brussels branches don’t have this type of adviser, but you can find lots of information on our online investment platform, Bolero.

Can I stop my regular monthly investment and is that a good idea?

You can stop monthly investments. Whether that’s a good idea depends on your personal situation and for how long you think you’ll need the money you usually invest every month. The current slump in share prices also provides opportunities for the longer term, as you get more units of your investment for your money. Be sure to discuss this with one of our wealth management experts. Just get in touch with your usual contact or KBC Brussels Live for more help with this.

Why is my pension savings fund losing value?

A pension savings fund invests in shares and bonds, both of which have a daily market price that fluctuates according to market conditions.

At KBC Brussels, we have two types of pension savings funds. One has more shares than bonds, while the other has more bonds than shares.

Talk to one of our wealth management experts to find out more about your personal situation. Get in touch with your usual contact or KBC Brussels Live for more help with this.

Is it still advisable to keep paying into my pension savings fund or should I stop doing so?

You can stop paying into your fund if you wish. Whether that’s a good idea depends on your personal situation. The current slump in share prices also provides opportunities for the longer term, as you get more units of your investment for your money. Be sure to discuss this with one of our wealth management experts. Just get in touch with your usual contact or KBC Brussels Live for more help with this.

Will I lose a lot of money if my pension savings plan ends now?

There are two ways you can save for your pension. You can take out guaranteed-interest life insurance contract which matures when you turn 65. The fixed interest rate you get with this type of product means you won’t lose money on it.

Another way to save for retirement is through a pension savings fund. A pension savings fund consists of shares and bonds, both of which have a daily market price that fluctuates according to market conditions.

Although current market conditions are causing pension savings funds to lose value, they don’t have a maturity date. That means you can let your investment run after you turn 65, even if you’re no longer allowed to make deposits. That way, you can cash it in later under better market conditions.

Talk to one of our wealth management experts to find out more about your personal situation. Get in touch with your usual contact or KBC Brussels Live for more help with this.

Can I transfer the money I’ve saved in my Pricos pension savings plan to a pension savings fund offering capital protection, and is that a good idea?

Current market conditions have clearly had an impact on your retirement savings. You could switch to a pension savings fund with fewer units if you wish, but that would have financial consequences when the markets start picking up again.

You can only switch to pension savings funds that offer capital protection after paying the final tax on your pension savings, which is usually when you turn 60.

If you want to see whether it’s worthwhile changing something now, get in touch with your usual contact or KBC Brussels Live.

Can I withdraw my pension savings now or is it already too late, and is it a good idea anyway?

Current market conditions have clearly already had an impact on your retirement savings. If you withdraw your investment now, it may have tax consequences. You should only do it after paying the final tax on your pension savings, which is usually when you turn 60.

Pension savings funds don’t have a maturity date, so you can leave your money in them until such time as the markets start recovering.

If you want to see whether it’s worthwhile changing something now, get in touch with your usual contact or KBC Brussels Live.

Is it a good time to buy shares, who can advise me and can I buy them myself?

When markets experience significant fluctuations – like they are now – opportunities arise. Even so, such situations also require extra vigilance. Check out the latest news and views from our experts and strategists to see how the coronavirus is affecting investments.

Our KBC Brussels branches don’t have this type of adviser, but you can find lots of information on our online investment platform, Bolero.

Will I lose a lot of money if my retirement savings end now?

There are two ways you can save for your pension. You can take out guaranteed-interest life insurance contract which matures when you turn 65. The fixed interest rate you get with this type of product means you won’t lose money on it.

Another way to save for retirement is through a pension savings fund. A pension savings fund consists of shares and bonds, both of which have a daily market price that fluctuates according to market conditions.

Although current market conditions are causing pension savings funds to lose value, they don’t have a maturity date. That means you can let your investment run after you turn 65, even if you’re no longer allowed to make deposits. That way, you can cash it in later under better market conditions.

Talk to one of our wealth management experts to find out more about your personal situation. Get in touch with your usual contact or KBC Brussels Live for more help with this.

Can I transfer the money I’ve saved in my Pricos pension savings plan to a pension savings fund offering capital protection, and is that a good idea?

Current market conditions have clearly had an impact on your retirement savings. You could switch to a pension savings fund with fewer units if you wish, but that would have financial consequences when the markets start picking up again.

You can only switch to funds that offer capital protection after paying the final tax on your pension savings, which is usually when you turn 60.

If you want to see whether it’s worthwhile changing something now, get in touch with your usual contact or KBC Brussels Live.

Can I withdraw my pension savings now or is it already too late, and is it a good idea anyway?

Current market conditions have clearly already had an impact on your retirement savings. If you withdraw your investment now, it may have tax consequences. You should only do it after paying the final tax on your pension savings, which is usually when you turn 60.

Pension savings funds don’t have a maturity date, so you can leave your money in them until such time as the markets start recovering.

If you want to see whether it’s worthwhile changing something now, get in touch with your usual contact or KBC Brussels Live.

How do I change my investment plan?

KBC Brussels Mobile:

  1. Tap ‘‫‫‫‫‫‫‫‫‫ֹ‬‬‬‬‬‬‬‬‬Investments’ at the bottom‬‬‬‬‬‬‬‬‬
  2. Go to ‘More’ at the top right
  3. Press ‘Periodic investments’
  4. Select the investment plan you want to change
  5. Open ‘Manage’
  6. Hit ‘Automatic payments’
  7. Change your plan and tap ‘Continue’

KBC Brussels Touch:

  1. Open ‘Savings & investments’ on the left
  2. Go to ‘More’ at the top centre
  3. Hit ‘Automatic payments’
  4. Select the order you want to change, then edit and sign it

Tip: If you have several orders, just go to ‘More > Periodic investments’ to see them all together and find the one you’re looking for.

How do I start investing my spare change?

KBC Brussels Mobile:

  1. Tap ‘‫‫‫‫‫‫‫‫‫ֹ‬‬‬‬‬‬‬‬‬Investments’ at the bottom‬‬‬‬‬‬‬‬‬
  2. Press the plus (+) icon
  3. Select ‘I want to invest’
  4. Hit ‘Invest your spare change’

How do I change my spare change investment?

KBC Brussels Mobile:

  1. Tap ‘‫‫‫‫‫‫‫‫‫ֹ‬‬‬‬‬‬‬‬‬Investments’ at the bottom‬‬‬‬‬‬‬‬‬
  2. Go to ‘More’ at the top right
  3. Press ‘Periodic investments’
  4. Select the investment plan you want to change
  5. Open ‘Manage’
  6. Hit ‘Automatic payments’
  7. Change your plan and tap ‘Continue’

How do I open a pension savings plan?

You can open a pension savings plan using KBC Brussels Mobile in just five easy steps. You can also easily ask for our advice before doing so if you want to.

How do I create a profile?

Find out why you need a risk profile and create one now using KBC Brussels Touch.

How do I update my risk profile?

How do I sign digital documents?

Check out our frequently asked questions to find out all about signing digital documents.

How do I buy Cera cooperative ‘E’ shares?

How do I download the KBC Brussels Invest app and what can I do with it?

Is paying the most tax-efficient amount into my pension savings plan a good idea now and, if so, how do I go about it?

It may indeed be a good idea to do that now through a pension savings fund. The stock and bond markets have reacted negatively to the coronavirus crisis. This has caused the unit price of pension savings funds, which invest in a mix of shares and bonds, to drop substantially since the start of this year. That means you’ll get a lot more units for your money now than you would have earlier this year.

It’s difficult to say whether now is the time to do this without knowing how the financial markets will perform between now and the end of 2020. In any case, to get full tax relief you must ensure that your most tax-efficient amount of either 990 euros (30% tax break) or 1,270 euros (25% tax break) has been paid in by the end of the year.

If you’d like personal advice, just get in touch with your usual contact or KBC Brussels Live.

If you’d like to pay the most tax-efficient amount into your pension savings plan, simply:

  1. Open KBC Brussels Mobile
  2. Tap ‘‫‫‫‫‫‫‫‫‫ֹ‬‬‬‬‬‬‬‬‬Investments’ at the bottom‬‬‬‬‬‬‬‬‬
  3. Go to ‘Tax-advantaged savings and investments’
  4. Select your pension savings account
  5. Press the blue button at the bottom right
  6. Choose the maximum amount eligible for tax relief (you won’t be able to do this if you’ve already opted for the highest amount)
  7. Tap ‘Continue’
  8. Hit ‘Sign’

If you had already set up your monthly standing order, the blue button may be temporarily unavailable and your order is being processed. Once that’s been done, the blue button will appear again.

Can’t find what you’re looking for?

Send your questions to corona@kbc.be and we’ll help you to the very best of our ability.

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