The KBC spare change investing service will soon be available to help customers invest change from transactions.
Saving money should be a simple and seamless task. However, the reality is that it can be a very difficult thing to achieve. Now KBC will launch a savings investment tool to help customers put away a little extra change to help them reach financial goals.
Whether that be saving up for a car or for a rainy day, the KBC spare change investing service will offer customers an easy and secure place to save.
How the KBC spare change investing app works
KBC will round up a customers daily spending and payment transactions to the next
full euro amount and invest the difference for you. The difference is immediately transferred to the customer’s KBC Investment Plan.
Once that customer reaches €10 ($11) it’s invested in one of KBC’s strategy funds. By doing this the customer’s investment is built up gradually and spread over time.
The bank stated that the roundups are small and unnoticeable, therefore customers choosing to use the service won’t need to change their financial lifestyle at all.
Furthermore, opening and tracking the investment plan is very easy and will be accessible through the KBC Mobile app.
KBC’s general manager for digital transformation, Karin Van Hoecke, stated: “This makes investing much easier and does away with many of the usual administrative steps. We’re aiming to get rid of the mysticism surrounding investment. You could compare it to your glass jar full of change, except it’s in the form of an investment fund.
“We do of course make it very clear to customers from the outset that they’re investing, but in simple language they can understand. That way, they can decide for themselves and make informed choices. Many people know the importance of saving and investing, but often lack financial knowledge. Spare change investing fits in perfectly with our public duty to do something about that.”