The Universal Banking Service was created five years ago through a charter agreed between the banking sector (Febelfin) and the Ministers for the Economy, Finance and Consumer Protection, initially for a period of three years. During the government negotiations, banks voluntarily continued to apply the charter pending its formal renewal by the ministers.

Digital banking services are not accessible to all consumers. The most vulnerable groups—those without the necessary equipment or access, or lacking the required digital skills—may face difficulties in managing their finances. The Universal Banking Service is specifically designed to provide these consumers with a basic package of non-digital banking services at a capped price. This package includes, among other things:

This basic package is offered by 12 banks to all adult consumers in Belgium.

The charter has now been extended for a further five years. The maximum annual cost of the basic package has been set at €62.50, which represents an increase below inflation compared to 2021.

The charter also includes accompanying measures, such as continued efforts to improve consumers’ digital literacy and the promotion of the FSMA’s online fee comparison tools for key banking products.

Rob Beenders, Minister for Consumer Protection: “It is important that people can access banking services at a fixed and affordable cost. This is a basic right. We are pleased to be able to extend this commitment for the next five years.”

Jan Jambon, Minister of Finance and Pensions: “A well-functioning financial system must serve everyone. This extension ensures that essential banking services remain accessible and affordable.”

David Clarinval, Minister for the Economy: “The digitalisation of banking services offers many advantages, but it must not lead to the exclusion of vulnerable consumers. The Universal Banking Service ensures that those who are less digitally inclined can still manage their daily banking needs at a reasonable cost. At the same time, we will continue to invest in digital literacy and financial education for our citizens.”

Karel Baert, CEO of Febelfin: “In 2024, the banking sector deliberately took the initiative to extend the Universal Banking Service indefinitely. This was to make it clear that accessible banking for everyone, including those who are less digitally engaged, remains a lasting priority. We therefore welcome this extension in cooperation with the public authorities, which further anchors this commitment for the years ahead.”