What is a statutory debt clearance period?

What is a statutory debt clearance period?

What is a statutory debt clearance period?

Your credit facility is subject to a debt clearance requirement. Before the end of the debt clearance period, you must have fully paid off the outstanding balance on your credit facility at least once so that the outstanding balance comes down to zero. That's why it's called 'debt clearance.' It is a statutory requirement under the consumer credit legislation.

If you pay off your spending in full each month, you automatically meet the requirement. If you spread repayment of your spending, you have to keep an eye out for the last day of the debt clearance period (the debt clearance date), which is shown on your billing statement and in KBC Touch.

Pay the outstanding balance off in time

If you want to fully pay off the outstanding balance at a certain time, you can easily do so by selecting your KBC Credit Card's tile in KBC Touch.

You can also do a classic transfer operation if you wish. Just use the account number mentioned at the foot of your monthly credit facility overview.

Debt clearance date reset

Once the outstanding balance has been fully repaid, a new debt clearance date is calculated. You can then see the new statutory debt clearance date on your next billing statement and in KBC Touch.

How to log in and sign in KBC Touch

First time using KBC Touch on your computer or tablet? See how to log in and sign transactions.
How to log in and sign in KBC Touch

KBC Budget Facility

  • Handy at the end of the month
  • No need to worry about your balance
  • No charges if your account remains in credit

KBC Budget Facility

Choose the current account that suits you best

  • KBC Basic Account with standard services
  • KBC Plus Account for added convenience
Choose the current account that suits you best

Making payments & transferring money in KBC Touch

This facility gives you a handy overview of all your accounts and cards, letting you see everything at a glance.
Making payments & transferring money in KBC Touch
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