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Savings accounts, meal vouchers, consumer loans… what changes from December 1st

  • Post category:Economy News
  • Reading time:5 mins read

Like every first day of the month, some changes are taking place in Belgium.

VSs every first day of the month, a series of changes take place in Belgium. Here are those for the month of December 2022.

Meal vouchers

From 1 December, it will now be possible for workers benefiting from vouchers (meal vouchers, eco-vouchers and consumption vouchers) to request, within three months of their expiry, the reactivation of their expired vouchers for an additional period of three month.

This new law is a continuation of the initiatives already implemented by issuers (Edenred, Monizze and Sodexo) in consultation with the National Labor Council (CNT) and the FPS Social Security. The reactivation procedure will be available on the various issuer sites.

Keytrade Bank savings accounts

Keytrade Bank will increase the interest rate on two of its savings accounts on December 1st. It can reach up to 1%. This is quite a significant increase. The base rate will drop from 0.01% to 0.50% for the Azur savings account, and to 0.30% for High Fidelity. A loyalty bonus of 0.20% and 0.70% respectively will also be added.

Keytrade Bank, which has more than 300,000 customers, is the first major bank in Belgium to pass on an advantageous adjustment to customers, because the decision comes after the adjustment of the interest rate of the European Central Bank (ECB) during the last months. Smaller players like Santander Consumer, NIBC Direct, CKV and MeDirect preceded it.

Neuropsychological care and long covid

Patients affected by a long covid will be able to benefit from the reimbursement of their neuropsychological care from December 1st. In Belgium, some 6,000 people have been unable to work for at least three months due to the coronavirus, according to calculations by free mutuals.

From December 1, neuropsychological care will be included in the list of reimbursed healthcare costs. Many patients with long covid suffer from concentration or memory problems in particular. Second-line occupational therapy care, in a hospital for example, will also be reimbursed.

consumer loans

The maximum rates for consumer credit will increase on December 1, the FPS Economy announced on Tuesday. The legal maximum annual percentage rates (APR) for credit facilities, including so-called “credit cards” with installment repayment and the possibility of going negative on a current account, will in fact increase by 2 percentage points, explains the federal administration. These lines of credit will therefore increase if they are accompanied by a variable debit rate and the APR corresponds to the maximum, which is often the case, she continues.

The maximum APRs for installment loans and sales and for leasing up to 5,000 euros increase by 1.5 percentage points and those over 5,000 euros by 1 percentage point.

The installment loan is a loan with periodic repayment, without the possibility of reborrowing. The installment sale applies, it, when the lender does not give money, but a good or a service whose price is paid in several monthly installments. Leasing is, on the other hand, a contract for the rental of a good, together with the possibility of buying (option to buy) the rented good.