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In just a few days, November will start. That means some things are changing again that could impact your financial situation. We shine our light on the main changes.

Belfius increases its savings rates

Not a month seems to go by without a bank changing its savings rates. On November 1, it will (finally) be the turn of a major bank. Belfius will then raise the interest rates on some savings accounts.

  • The interest rate on the ordinary savings account rises from 0.9 to 1.1 percent.
  • The so-called Fidelity account guarantees an interest rate of 2 percent in a few days, up from 1.25 percent today.

Also this: Competitors BNP Paribas Fortis and KBC are raising savings rates on December 1.

BNP Paribas Fortis and bpost bank customers to choose current account

Bpost bank will become part of BNP Paribas Fortis on January 1, 2024. This merger is not without consequences for customers of both banks. They must now indicate at which branch network they wish to handle their financial affairs as of next year. They do so by choosing from two current account formulas. The deadline to do so expires on Nov. 18.

  • First, you have the basic Easy Go package. For that package, you will pay 2 euros a month. In exchange, you get a current account, a maximum of 2 debit cards, the possibility to make six manual transactions a year and basic advice. If you choose this formula, you can ask all your financial questions at one of bpost bank's branches.
  • For those in need of more personalized advice, the major bank is launching the Easy Guide Pack formula. You pay 5.50 euros a month for this subscription formula. In addition to the basic offer, this package includes 2 credit cards and extensive financial advice. Those who opt for this formula are served at one of BNP Paribas Fortis' branches (after making an appointment).
  • The existing current accounts of the two financial institutions will disappear.

Telenet stops free wifi

Wi-Free, Telenet's free service that allows you to connect to public hotspots, will stop as of Nov. 1. That service saw the light of day in 2012.

  • Many users now use their mobile network to surf, so there is less need for Wi-Free. Therefore, Telenet says it can no longer justify the maintenance costs of that service.
  • In addition, recent and future modems can no longer transmit the Wi-Free signal. That function will therefore become obsolete.

Rent subsidy and rent allowance changes

Starting November 1, it should be easier to apply for a housing allowance or housing subsidy. The rent subsidy and rent allowance are a monthly amount to help you pay the monthly rent.

  • For a rent subsidy, you no longer have to register on a waiting list for social housing.
    • You can apply for the rent subsidy up to nine months after you move.
  • Living in Flanders will no longer conduct a compliance investigation when applying for a rent subsidy. "If a home has already been declared unsuitable, uninhabitable or overcrowded at the time of your application, you will not receive a rental subsidy. Because then it is already clear that the property is not in order. In other cases, Wonen in Vlaanderen assumes that the house is in order. This allows your application for the rent premium to proceed more quickly," the government agency announced on its site.
    • You don't have to apply for a rent premium. You will automatically receive a letter with the necessary application documents if you have been on the waiting list for four years.

Flemish premium for a gas condensing boiler disappears

From November 1, it will no longer be possible to apply for a premium for a gas condensing boiler.

  • That premium will only apply if the final billing date is no later than October 31, 2023. In that case, the application will still be possible until October 31, 2024.
  • The gas condensing boiler must not be older than two years at the time of application.

Indexation of benefits

According to the Federal Planning Bureau's latest forecast, the pivot index will be exceeded in November. In an earlier outlook, the government agency was still assuming an overshoot in September, but it did not occur due to lower-than-expected inflation.

  • If the pivot index is exceeded this month, benefits will be indexed in November. Civil service wages will follow in December.
  • Private sector wages will also rise if the pivot index is exceeded. When and how this happens depends on the joint committee you fall under.

Temporarily higher rates at Bpost

Bpost charges a 1 euro surcharge for packages sent between Black Friday (Nov. 24) and Christmas Day.

  • "In the end-of-year period between Black Friday and Christmas, it is always very busy in the sorting centers, on the road, in the Bpost network and in the distribution," the postal company said in a press release in early October. "To compensate for the extra costs during this period and to encourage the spread of demand outside this period, all customers will be charged a surcharge of 1 euro per parcel for parcel dispatch in Belgium."

Further rate increases are planned, but they will not apply until Jan. 1, 2024.

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