If you are the one to cancel your KLM flight, you are generally not entitled to flight compensation, as that aims to cover inconveniences by the airline. However, if you cancel your flight within the dates specified in their cancellation policy, you can get a partial or full refund. Keep in mind that some tickets are non-refundable, but they may still offer travel credit if you cancel.

The overall amount depends on how long you were supposed to travel. If you are on a domestic flight, you will likely get up to 250 EUR for a cancelled KLM flight. That said, if the plane was supposed to take you over a longer distance (internationally), then you can get up to 600 EUR in compensation.

You are only eligible for compensation if the airline cancels less than 14 days before your scheduled departure. Indeed, they are still required to rebook and offer an alternative flight (unless you want a refund), but compensation rights only kick in when you are within those 2 weeks. Another exception is a flight cancellation caused by extraordinary circumstances outside the airline's control.

This depends on how much of a delay the alternative flight causes. KLM is required by the law to bring you to your destination with a delay lasting less than 3 hours. However, it doesn't say it has to be on the same flight. Therefore, if they rebook you and you get there with a significant delay, then you can claim your KLM flight compensation.

The processing time can depend on numerous factors, from the airline's response time to general bank processing. KLM usually aims to give a final decision in 2-4 weeks, but for more complex cases, it can take longer. If you add the internal processing to the calculation, you can expect to get your money within 6 weeks.