State Secretary Bertrand wants to better inform consumers about savings rates | Interior

Bertrand is pleased that the banks recently raised their interest rates. “We are coming from a situation where bids were only 0.11 percent a few months ago. Now there are eight banks that offer more than 2 percent and about twenty banks that offer more than 1.25 percent,” she said in De Ochtend (Radio 1). It is mainly the fidelity premium that has been increased. “I understand that in part,” said Bertrand. “The banks benefit from customers leaving their money, which also has to do with the stability and liquidity of the banks.”

Nevertheless, competition between the various banks must be stimulated, says Bertrand. That is why she wants to make agreements with the sector about better informing consumers, to make them aware of the existing alternatives and possible better savings formulas. Bertrand wants to pour a few things into a protocol.

In concrete terms, every three months, when paying the interest, via the account statement or via a message in the banking app, each bank will have to indicate what interest has been earned for each savings account, both in percentage and in euros. This concerns the basic savings account and the fidelity premium. At the same time, it must be stated whether the bank itself has more interesting accounts – which therefore offer a higher interest rate.

Consumers must also be offered the link to the FSMA’s savings comparison tool, and the link to the bank switching service, with which banks take full responsibility for the transfer of new customers.

Bertrand wants the protocol to come into effect at the beginning of 2024.