Legal changes 1 January 2020

A summary of legal changes has been provided here for your convenience.

Got a question about any of these changes?
Feel free to contact us in your KBC Brussels branch or KBC Brussels Insurance agency, or speak to one of our KBC Brussels Live experts.

  • We have added the new ‘issuer concentration’ check to our wealth management advice.
  • We have clarified KBC Brussels's policy on leveraged investment products and products where in-depth knowledge is required, given that your experience with such products influences our advice.

View the information document.

  • We have extended the general rule in the product knowledge test to include KBC Brussels's policy on leveraged investment products and products where in-depth knowledge is required.
  • Exceptions can no longer be made for testing the product knowledge of married entities with community of property, entities with joint ownership of property, civil partnerships and partnerships without legal personality.
  • The questionnaire on the target market may be answered by an agent holding power of attorney, but the answers should reflect the account holder's standpoint.

View the information document.

The main changes are as follows:

  • A new service now enables you to open individual segregated custody accounts at CSD (Central Securities Depositories) where KBC is also a participant.
  • US residents have fewer options with regard to dividend payments and investment orders.
  • If the custody service is ended and you fail to provide instructions in time to transfer the assets concerned, we have the right to sell your financial products.
  • Separate regulations now apply to the KBC Brussels Investment Plan.

View these and all other changes.

Taking out and managing the KBC Brussels Investment Plan had previously been governed by the KBC Brussels Custody Account Regulations, but that is now no longer the case.
The terms and conditions applying to the KBC Brussels Investment Plan have been updated and published in a new and separate set of regulations. View the new regulations.

We have modified the general terms and conditions to comply with the EU Payment Accounts Directive (PAD), which introduced measures that banks must have in place for payment accounts, including the use of certain standard terms. This makes it easier for customers to compare the services provided by banks. From the end of March, you will also be able to request the PIN of your new payment card in KBC Brussels Mobile.

View these and all other changes.

What to do if you don't agree to these changes
You can cancel your KBC payment card at no charge.

KBC Bank has amended its regulations for KBC credit cards and KBC prepaid cards to fulfil its obligations towards Mastercard when processing card details.
View the regulations.

What to do if you don't agree to these changes
You can cancel your KBC credit card or KBC Brussels Prepaid Card at no charge.

Nothing fundamental has changed in terms of content. We have brought the Cheque Regulations more into line with other regulations, terms and conditions.

View the new Cheque Regulations.

The main changes:

  • We have added a brief summary of what has changed.
  • We have clarified the wording of the reference to the data protection statement.

View these and all other changes.

The main changes:

  • We have added a brief summary of what has changed.
  • We have clarified the wording of the reference to the data protection statement.

View these and other changes.

All insurance claims arising on or after 1 April will therefore no longer be covered by the KBC Insurance against Intentional Acts of Violence.

What to do if you don't agree with this change
You can cancel your KBC Brussels Mastercard Business Extra at no charge.

As in previous years, we have compiled a schedule of rates and charges for our financial services, so you can see exactly what you pay for the different products in the year ahead. View the schedule of rates and charges for 2020.

Changes have been made to the rates and charges for the following services:

  • The charge for transferring securities to a financial institution outside the KBC group has increased from 60 euros to 100 euros (incl. 21% VAT per ISIN code).
  • The charge for buying units in funds issued by other financial institutions has gone up from 2% to 3% of the purchase price.

View these and the other rates and charges.

In accordance with the General Banking Terms & Conditions and the General Credit Terms & Conditions, we will be increasing the handling fee rate for your credit facility by 3%. You will be charged the new rate for the first time at the start of April 2020.

An overview of the main changes in each data protection statement is given on page 3 of the updated data protection statement (under Preliminary: the salient changes in this version of the General Data Protection Statement). An overview of the changes made to the annex is provided at the beginning of the annex. Most of these changes are additions to the statement owing to new or modified products and services being offered by KBC.

View the General Data Protection Statement of KBC Bank NV and KBC Insurance NV.

To calculate the rates, charges and fees applying to some of your banking products, we use 'reference interest rates' such as EONIA and LIBOR. Under the regulations, certain reference rates will in due course change, be discontinued or be replaced by another rate. As a result, we are adding a new paragraph to Article I.32.4 of the General Banking Terms and Conditions (view annex).

What to do if you don't agree with the changes
You can cancel your KBC Brussels product or service, or end your customer relationship, before the change takes effect. If we don't hear from you before then, we will assume that you agree with the changes.

The Insurance Act requires insurance companies to classify customers into two categories:

  • retail customers
  • professional customers

At KBC Insurances, we always want to ensure that you are afforded the best possible protection. Therefore, we treat every customer at an insurance agent as a retail customer so that they can enjoy the highest level of protection. In practice, this means that when you go through your insurance agent to take out a savings insurance or investment-type insurance policy at KBC Insurances, you will receive the most detailed information.

Learn more.
If you wish to switch to a different category, just send an e-mail to or call 0800 92 912.

The Belgian Guarantee Fund ensures that up to 100,000 euros in savings on KBC Brussels accounts are protected per person. The ‘Deposit guarantee information sheet’ explains the practicalities and implications for you.

Learn more here and at the Guarantee Fund's website.
View the information sheet.