The term “non-regulated account” can be confusing. All savings products offered in Belgium are subject to the supervision of the financial regulators (the National Bank of Belgium and the FSMA) and are in accordance with Belgian law.
A regulated account means that the first €980 in interest on a savings account is exempt from withholding tax. The account must comply with certain rules for this, such as a loyalty bonus. Savings products that do not meet these requirements (such as fixed term deposits and other simple savings accounts with one clear interest rate) do not fall under the technical category of regulated accounts. They are subject to withholding tax. Non-regulated accounts are therefore completely legal and approved by the financial regulators. MeDirect chooses to offer non-regulated accounts because the clear and high interest rates (even after deduction of withholding tax) offer great advantages for our customers.