Changing of banks will be facilitated on January 1, 2018

Changing banks will become easier on January 1, 2018.

Starting from this date, clients will no longer have to transmit their new bank numbers to their employers or to their energy or telecom suppliers. In case of changes, it is the new bank that will take care of administrative notifications, said the federation of the financial sector, Febelfin, on Friday.

“The new bank will send the necessary notifications to the various creditors and originators of recurring incoming transfers via a new central service called Bankswitching”, says Febelfin.

This new mechanism is in line with the European Directive on payment accounts, which is to be transposed into Belgian law and will enter into force on 1 January next year.

All necessary information can be found at

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