What is a statutory debt clearance period?

What is a statutory debt clearance period?

What is a statutory debt clearance period?

Your credit facility is subject to a debt clearance requirement. Before the end of the debt clearance period, you must have fully paid off the outstanding balance on your credit facility at least once so that the outstanding balance comes down to zero. That's why it's called 'debt clearance.' It is a statutory requirement under the consumer credit legislation.

If you pay off your spending in full each month, you automatically meet the requirement. If you spread repayment of your spending, you have to keep an eye out for the last day of the debt clearance period (the debt clearance date), which is shown on your billing statement and in KBC Brussels Touch.

Pay the outstanding balance off in time

If you want to fully pay off the outstanding balance at a certain time, you can easily do so by selecting your KBC Brussels Credit Card's tile in KBC Brussels Touch.

You can also do a classic transfer operation if you wish. Just use the account number mentioned at the foot of your monthly credit facility overview.

Debt clearance date reset

Once the outstanding balance has been fully repaid, a new debt clearance date is calculated. You can then see the new statutory debt clearance date on your next billing statement and in KBC Brussels Touch.

General questions about KBC Brussels Touch

Get help with things like problems using KBC Brussels Touch, a forgotten PIN or changing your settings.
General questions about KBC Brussels Touch

Cancellation insurance

If you're unable to head off on your travels or have to return home early, some of the costs incurred will be reimbursed under this cover.
Cancellation insurance

Making payments & transferring money in KBC Brussels Touch

This facility gives you a handy overview of all your accounts and cards, letting you see everything at a glance.
Making payments & transferring money in KBC Brussels Touch

Questions on payments

Find answers to your questions about current accounts, payment cards, self-banking and other additional services.
Questions on payments