During the month of December, the Banx banking application will stop working. What does the future hold for current customers?
For many users, this closure raises questions about access to their accounts, the continuity of their services, and the alternatives available on the market. Are you a Banx customer? Don’t panic: the money placed in your account will not disappear, reassure Proximus and Belfius. Here’s what you need to know.
When exactly will the application end?
Concretely, the Banx app as you know it will stop working from December 31, 2024. Until this date, you can therefore continue to use it normally: it remains operational.
What to do with your account?
Starting this month, customers will receive an email or letter to be informed of the rest of the events. Several choices are available to them:
- transfer the balance of the Banx account to a Belfius account,
- transfer the Banx account balance to another bank,
- close the account without doing anything further (simplest option if the balance is €0),
- sell your portfolio before closing.
If you have money in your account or you have investment products, do not wait until the last minute before acting: “Without action on your part before December 31, 2024, we will close your Banx account and will sell your products,” warn Belfius and Proximus in a press release. The amount of your investments at current value and the possible balance of your account will be sent to the Caisse des Dépôts et Consignations.
Migrating to Belfius, the simplest choice?
Banx is the result of a collaboration between Proximus and Belfius Bank. This is why the bank encourages Banx customers to migrate to its own accounts and banking services. The banking institution promises: those who choose to stay with Belfius “will benefit, under certain conditions, from a commercial advantage”. So, if you have a Banx account with a positive balance, it offers a 40% promotion for three years for its most expensive Beats Star account, details the Echo.
If you do not have a Belfius account and you want to transfer the money from your Banx account to another institution, you can request a « Bankswitching ». This interbank mobility service allows you to transfer your accounts and payment transactions from one bank to another quickly, easily and free of charge.
All you need is:
- to open a current account online or in a branch of your new bank (unless you already have one).
- to complete an application form, which you must simply return to the bank of your choice, duly completed and signed.
- your payment account and payment transactions will then be transferred.
The transfer from one bank to another takes 10 banking days from the date of submission of your request, but you can also choose a specific transfer date yourself.
