![Do
you
have
to
do
anything
yourself
to
cash
in
the
government
bond?
When
will
the
money
be
in
your
account?
And
what
about
taxes?](https://euro.dayfr.com/temp/resized/medium_2024-09-04-5134547b0e.jpg)
Do I have to do anything myself to get that money back?
The government has now released the money, says Jean Deboutte, CEO of the Federal Debt Agency.
This was done on the one hand via the National Bank for those who subscribed to a bank and on the other hand via Bpost for those who subscribed to the government bond directly with the General Ledger, according to Maric Post, Director of Treasury and Capital Markets at the Federal Debt Agency.
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This is the largest operation in the history of the Debt Agency. Last year, a record amount of 21.896 billion euros was subscribed. That money is now being released, plus the interest (2.81 percent): all together more than 22.5 billion euros.
When will the government bond money actually be repaid?
Depending on your financial institution, the money will be in your account today or the next banking day. For SEPA transfers (European), the processing by the financial institution can take up to 3 banking days, it sounds.
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But for most banks that will be the case today or has already happened. According to Ulrike Pomme of Belfius the money is already in the account. This is also the case with other major banks. “All the customer accounts involved were credited this morning,” says Pieter Kussé of KBC. Also Hilde Junius from BNP Paribas Fortis agrees: “The money is already in our customers’ accounts if they signed up via the bank.” This is also the case with Silver. Bee Deutsche Bank that will not be the case until Thursday.
Do I still have to pay taxes on that?
No, the 15 percent withholding tax is paid directly to the tax authorities.
To which account number will the money be refunded?
The capital and interest will be repaid to the account number that you specified when subscribing to the government bond.
What happens if my account is closed?
“We do expect some cases. If the account number provided is no longer active, the amount paid out will automatically return to our account. As soon as the money is back in our account, we will contact the customer to make the payment again to a correct account number,” says the Federal Debt Agency.
The investor will then have to be able to present a RIB certificate of the new account number. You can obtain this bank certificate from your financial institution. They will also ask for your national register number. This information must be sent by email to [email protected] with the subject: “TB: change of account number: name and first name”.
With which communication will the refund be made?
The refund will be made from the GBGL account and with the ISIN code of the Staatsbon (BE3871291212) as the message. GBGL stands for ‘Grootboek – Grand Livres’.
“But I think most people will notice it from the amount. You will also see that it concerns two amounts. The capital and the interest are paid separately,” says Jean Deboutte of the Federal Debt Agency.
What if payment is not made?
Are you taking days to receive your money? Then contact the bank where you bought the government bond. They can check whether there is a problem with the payment. Did you register via the government? Then contact the Debt Agency directly.
Will there be a new government bond and will it be just as interesting?
The new 1-year government bond that you can subscribe to later has a net yield of 1.93 percent. That is a lot less than the one that is paid out now. The more favorable withholding tax of 15 percent instead of the usual 30 percent will be eliminated. You can subscribe from tomorrow, Thursday. At your bank you have until Friday September 13th, via the government until Thursday September 12th.