Royal Decree that makes the costs of a payment account more transparent, is a good thing, but Febelfin is concerned about the short implementation time

5 March 2019 - 2 min Reading time

On 18 February a Royal Decree on the implementation of the PAD (Payment Account Directive) in Belgium was published in the Belgian Official Gazette.


This European payment directive focuses on three things:

  • make switching to another bank easier
  • ensure that everyone gets a basic payment account
  • make the costs of a payment account more transparent

Belgium has had regulations on the latter area since 1995, in contrast to many European countries.

The publication of the Royal Decree ensures that the section on the costs of a current account can be implemented in accordance with the directive. It offers the financial sector - as requested by Febelfin - clarity about the adjustments that are necessary to effectively implement the directive. However, the final text took too long to arrive.


Febelfin is concerned about the short implementation time of the KB. By 1 July 2019, the sector must use the new information document model and adapt all commercial, contractual and marketing information accordingly. This leaves only a few months to carry out this complex migration in accordance with the detailed European requirements. The banks therefore fear that this will not leave enough time to implement the requested adjustments.

Dit is de vroegere tarievenlijst.

In September 2018, the Special Committee on "Consumption" of the Central Council for the Industry - in consultation with consumer representatives and Febelfin - asked for the deadline to be postponed to 1 January 2020. In this way there is a sufficiently long transition period and the current tariff list will be maintained for the whole of 2019. This is the most transparent way for consumers and the least complex migration for banks.

Febelfin regrets that due to the late drafting of the Royal Decree and the exceeding of the entry into force of the directive, no further postponement appeared to be possible.