Regulated savings accounts marketed by MeDirect
This web page for clients and non-clients alike is brought to you with a view to increasing transparency for savers. This web page summarises all relevant information relating to three different regulated savings formulas offered by MeDirect bank.
If money is transferred from a savings account to another savings account opened in the name of the same account holder at the same institution, other than through a standing order, the period during which the fidelity premium was accrued on the first savings account will be maintained, provided that the amount of the transfer is at least €500 and that the account holder concerned has not already made three such transfers from the same savings account during the same calendar year.
Rate information and terms of regulated savings accounts
(the highest return after 12 months appears first).
The payment always consists of a base rate and a fidelity premium.
Note: the sum of the base rate and the fidelity premium applies today only for an amount that remains in your account for one year and as long as the base rate does not change!
Before opening a savings account, read the essential information document for savers.
MeDirect Essential Savings
1
Category*
B
Base rate
2.00% on an annual basis
Fidelity premium
0.80% on an annual basis
Addition of base rate and fidelity premium
2.80% on an
annual basis
Applicable conditions
Account reserved for online use
Category B: A regulated savings account for which amount conditions apply. For instance, limits may be imposed on the maximum amount that can be held in the account or on the maximum amount that can be deposited per month into this account.
MeDirect Fidelity Savings
2
Category*
A
Bases rate
0.75% on an
annual basis
Fidelity
premium
1.80% on an
annual basis
Addition of base rate
and fidelity premium
2.55% on an
annual basis
Applicable
conditions
Account reserved for online use
Category A: This is a ‘classic’ savings account, meaning that no conditions apply to either the base rate or the fidelity premium.
MeDirect Dynamic Savings
3
Category*
A
1.40% on an
annual basis
Fidelity
premium
0.40% on an
annual basis
Addition of base rate
and fidelity premium
1.80% on
an annual basis
Applicable
conditions
Account reserved for online use
Category A: This is a ‘classic’ savings account, meaning that no conditions apply to either the base rate or the fidelity premium.
Interest at the base rate is earned from the day of depositing the money in the account until the day on which it is withdrawn. The bank can alter the base rate at any time. The base rate is paid into your account on the value date (1 January) or when you close the account.
The fidelity premium is only earned on amounts that have remained continuously in the regulated savings account for 12 months after they are deposited. If you withdraw your money before the end of the 12-month period, you will not receive a fidelity premium on that money. This withdrawal will not affect you earning a base rate. This premium runs from the day of the deposit. A new 12-month accrual period starts on the day on which the fidelity premium is earned. The bank can alter the fidelity premium rate at any time. The fidelity premium rate in force at the time of payment or the start of a new period remains unaltered for a period of 12 months. Fidelity premiums that have already been earned are paid into your account on the first day following the quarter in which they were earned, i.e. 1 January, 1 April, 1 July and 1 October, or when you close your account.
Clients will be notified through their account statements of changes in the rates below.
Costs: opening/closing/annual statement/any postage costs: free of charge
Where to consult MeDirect Bank’s savings calculator.
1) Go to www.medirect.be and click on the login tab at the top of your screen.
2) Log in.
3) Select the savings account for which you want to simulate a withdrawal.
4) Click on the “Calculator” tab.
Which account and payment match your needs?
This link takes you to the web page of the simulator developed by the Belgian supervisory authority (FSMA). After you enter some data in this simulator such as the amount to be saved and the term of the deposit, its purpose is to provide you with a summary of the income per regulated savings account and per institution.
Link to the bank switching service:
This link takes you to Febelfin’s bank switching service where you can find all the necessary information to use this service to switch to another bank, if required.
Main risks:
Insolvency risk: In the event of the insolvency or risk of insolvency of the financial institution, savers risk not recovering their savings or may be required to reduce/convert the amount of their claims against the financial institution above €100,000, an amount covered by the deposit protection mechanism, into capital shares (Bail-in). More information on this protection mechanism can be found on the website of the Guarantee Fund (garantiefonds.belgium.be/en).
Inflation risk: Continuous price increases can cause the deposited money to lose value.
General:
The savings accounts described on this page are regulated savings accounts of MeDirect Bank. These products are subject to Belgian law and have an unlimited duration.
Taxation:
Complaints:
If you have a complaint, you can contact [email protected].
If you are dissatisfied with the response, you can contact the Ombudsman for Financial Services (www.ombudsfin.be/en).
A noter sur nos produits d'épargne
Nos taux d’intérêt ne sont pas figés. Les taux en vigueur sont toujours visibles sur notre site.
Votre épargne est garantie jusqu’à 100.000 € euro. Tous les dépôts dont vous disposez au-delà de 100 000 € pourraient être réduits ou convertis en actions (bail-in). Pour en savoir plus, consultez la fiche d’information sur la protection des dépôts.
Vous pouvez gérer vos finances depuis votre salon, votre travail, le train, votre transat … Nous sommes toujours – et uniquement – en ligne.
Vous trouverez toutes les informations essentielles sur nos produits d’épargne sur leurs pages respectives. Nous vous encourageons à lire les documents attentivement.
Il vous reste des questions ?
How do I open an account ?
- Click ‘Become a client’ to start the online application process. You will be asked if you wish to open up a single or a joint account. Complete your personal data as requested on screen.
- You will be guided to provide a clear copy of the front and back of a valid Belgian ID and to take a selfie.You can choose from the following 2 options:
- Use your smartphone to take a photo of your ID and a selfie.
- Upload a photo or a scan of your ID and take a selfie using the camera on your electronic device (eg webcam).
- Complete the online application process and sign it digitally. Keep your mobile close at hand.
- Make a first payment to your MeDirect Cash Account from an external account registered in your name.
- If you applied to open a joint account, you can transfer your first payment from an external joint account (registered in the name of both account holders) or from two different accounts, each registered in the name of the individual account holder.
- Once the payment has been received, a MeDirect Cash Account will be opened for you. You will then get full access to the secure website.
How can I deposit funds in my account?
You can deposit funds by instructing a bank transfer from an external bank account to your MeDirect account.
Are there any fees for opening an account?
Helpful answers
MeDirect
Essential Savings
MeDirect
Fidelity Savings
MeDirect
Dynamic Savings
Click on the button below for more information about the MeDirect Essential Savings account.
Click on the button below for more information about the MeDirect Fidelity Savings account.
Click on the button below for more information about the MeDirect Dynamic Savings account.