KBC Extra Current Account Reviews: Earning Rewards on Purchases
Did you know 85% of KBC Extra Current Account reviewers are unhappy? This shows how many people are not satisfied with Belgium’s major bank. KBC Bank tries to make things better with rewards and cashback, but many still face problems.
KBC Bank’s accounts have changed a lot in ten years. They introduced Kate Coins to make banking better. Now, customers can get these digital tokens by using their credit cards or even planning home renovations in the Setle app.
Over 283,000 customers have earned Kate Coins, with almost half able to use them. But, despite this, many are still unhappy. The bank’s plans to work with more places, like Amazon.com.be and Brussels Airport, don’t seem to fix the main issues.
Key Takeaways
- 85% of reviewers are dissatisfied with KBC Extra Current Account
- Kate Coins reward system introduced for earning rewards on purchases
- Over 283,000 customers have earned Kate Coins
- New partnerships allow spending Kate Coins at various retailers
- Customer complaints include poor service and lack of multilingual support
- KBC Bank current accounts face challenges despite innovative features
Introduction to KBC Bank Current Accounts
KBC Bank has two main current accounts: the Basic Account and the Plus Account. These accounts meet different banking needs. They offer services from basic to more advanced packages.
Overview of KBC Basic and Plus Accounts
The KBC Basic Account costs 2.00 euros a month. It has basic banking services and some features. The Plus Account, at 3.75 euros monthly, has more benefits and no limits on charging.
| Feature | Basic Account | Plus Account |
|---|---|---|
| Monthly Fee | 2.00 euros | 3.75 euros |
| Charging Limit | 5 MB | Unlimited |
| KBC ATM Withdrawals | Free | Free |
| Other ATM Withdrawals | 0.50 euros after 25th transaction | 0.50 euros after 25th transaction |
Evolution of Account Features
KBC has added digital payments, instant transfers, and more through KBC Mobile. They also offer debit card cash back and credit card rewards.
Customer Preferences and Trends
75% of customers like the Plus Account for its extra features. Yet, recent feedback is mixed. Some enjoy the bonuses, but others have issues with account management and service.
Reviews from October 2020 to July 2024 show varied experiences. 11% gave 5-star ratings, while 76% gave 1-star. Common complaints include unexpected fees, account blocks, and communication problems, especially for expats.
KBC Extra Current Account Reviews: Earning Rewards on Purchases
KBC Bank has introduced the Extra Current Account, a game-changer in banking. It lets customers earn rewards on their daily spending. This turns everyday purchases into valuable rewards.
Kate Coins: A Unique Reward System
The Extra Current Account features the Kate Coins system. Launched in early 2023, it rewards customers for their banking and purchases. Kate Coins can be used for cashback or discounts, making it a great deal for smart shoppers.
Partnerships and Cashback Opportunities
KBC has teamed up with top retailers for its rewards program. Since November 21, 2023, customers earn Kate Coins at Amazon.com.be, Foodmaker, and Brussels Airport. This opens up more chances to earn rewards on favorite brands and services.
Customer Adoption and Usage Statistics
The Extra Current Account is a hit with KBC’s customers. With over 12 million users worldwide, its potential is huge. KBC’s strong position in Europe also boosts the program’s growth.
| KBC Financial Highlights (2019) | Amount |
|---|---|
| Revenue | €7.629 billion |
| Net Income | €2.489 billion |
| Total Assets | €290.7 billion |
| Total Equity | €20.4 billion |
KBC is growing its partner network and improving Kate Coins. Customers can expect more ways to earn rewards. This makes the Extra Current Account a top choice for innovative banking.
KBC Plus Account: Features and Benefits
The KBC Plus Account is a top choice among KBC Bank current accounts. It offers a wide range of banking services. This makes it perfect for those who want more from their banking experience.
Comprehensive Banking Services
The KBC Plus Account has services for all kinds of banking needs. You get current accounts, debit cards, and instant transfers. Plus, you get a free second debit card for easier money management.
Digital Payment Options
The KBC Plus Account uses the latest tech for payments. You can pay with Apple Pay if you have an iOS device. This makes paying for things online or in stores easier than ever.
Fee Structure and Comparisons
The KBC Plus Account has great features but costs a bit more. Starting April 1, 2024, the monthly fee will be €3.75. But, if you’re under 25, you can get it for free. Despite the cost, about 75% of users prefer the Plus Account over the Basic one.
| Account Type | Monthly Fee | Key Features |
|---|---|---|
| KBC Plus Account | €3.75 (from April 1, 2024) | Free second debit card, Apple Pay, free card replacements |
| KBC Basic Account | €2.00 (from July 1, 2024) | Current account, debit card, instant transfers |
The KBC Plus Account also gives you credit card rewards and debit card cash back. This adds even more value to your banking experience.
KBC Basic Account: Affordable Banking Solutions
KBC’s Basic Account is a cost-effective choice for those needing basic banking services. Starting July 1, 2024, it will have a monthly fee of 2 euros. However, it will be free for anyone under 25. This change fits with the trend of Irish retail banks managing €270 billion in deposits for both homes and businesses.
The KBC Basic Account comes with a current account, debit card, and 24 free cash withdrawals each month. It also offers instant transfers and free electronic transactions. This helps customers manage their money well. Plus, it can be linked to KBC’s purchase incentives and bank account bonuses.
KBC makes banking easy with its ATM network. Customers can withdraw cash for free at KBC ATMs. This supports the 5 million daily transactions by Irish retail banks. It caters to those who still prefer traditional banking alongside digital options.
KBC is also making it easier to upgrade to higher-tier accounts. Plus Account holders can keep a free Basic Account with the same account holders. This move meets the changing needs of customers, blending old and new banking services.
Innovative Banking with KBC Mobile and Kate
KBC Bank current accounts have changed a lot. They now offer top-notch digital solutions through the KBC Mobile app. This app makes banking easy, combining financial and non-financial features for a smooth experience.
KBC Mobile App Features
KBC Mobile is the best banking app worldwide, says Sia Partners. It has many services in several languages. You can manage your accounts, get loyalty rewards, and find partner offers easily.
The app is easy to use and keeps your banking safe. You don’t need a card reader for transactions, making them fast and simple.
Kate: The Personal Digital Assistant
Kate is the app’s digital helper. It talks in many languages, helping you understand your finances better. Kate Coins is a special reward system that gives cashback on your purchases.
Non-Financial Services Integration
KBC Mobile does more than just banking. It lets you buy tickets, order service vouchers, and even switch energy contracts. This mix of services makes KBC Mobile a go-to app for everyday needs, setting a new standard in digital banking.
| Feature | Description |
|---|---|
| Languages | English, Dutch, French, German |
| Reward Program | Kate Coins for cashback |
| Special Services | Energy contract switching, ticket purchases |
Conclusion
KBC Bank leads in innovative banking, especially with the KBC Extra Current Account. This account lets customers earn rewards on purchases through Kate Coins. The bank’s focus on cashback and partnerships has won over many customers.
The KBC Mobile app is the top choice in Belgium, serving 1.95 million users daily. It’s known for its ease of use and extra services like parking and public transport tickets. Kate, the digital assistant, has also been a hit, with 1.8 million unique users.
KBC’s digital innovation and customer focus have boosted its finances. The bank excels in key areas and keeps a strong market position. Despite tough times, KBC keeps improving, adding features like Kate Coin and more cashback. It shows that rewards and responsible banking can go hand in hand.
Source Links
- KBC Bank & Verzekering is rated "Bad" with 1.5 / 5 on Trustpilot
- KBC enables customers to earn money with Kate and Kate Coins
- KBC Bank & Verzekering is rated "Bad" with 1.5 / 5 on Trustpilot
- Compare our current accounts – KBC Brussels Bank & Insurance
- Credit card with extensive protection – KBC Brussels Bank & Insurance
- KBC Group
- KBC responds to changing customer behaviour by updating its account offerings
- Discover the KBC Brussels Credit Card – KBC Brussels Bank & Insurance
- Additional services in KBC Brussels Mobile – KBC Brussels Bank & Insurance
- Central Bank Response to the Retail Banking Review Consultation
- Innovation 2020
- KBC Mobile
- KBC Mobile¹ named best mobile banking app in Belgium for the third time in a row by independent international research agency Sia Partners.
- KBC Keeps Moving to Maintain its Lead
