As soon as you go to Belgium, one of your first tasks should be to open a bank account for managing bills, spending money daily and paying rent or a mortgage. The guide explains that for foreigners to establish banking and open an account in Belgium, either online, in person or as non-residents. Luckily, it is common to open a bank account in Belgium without needing lots of paperwork. Understanding it isn’t very complicated.
Documents required
Each bank’s requirements for documents can be different. In general, you should have the following things prepared:
- ID
- A letter from my utility company.
- You can keep proof of income handy in case you are asked for it. You can use your latest pay slip or a letter from your boss.
At the branch, you will first need to book an appointment and ensure you have your documents with you as well. Should you miss the upload when setting up your account, you can simply do so later, once the bank online application prompts you.
A passport can be used as ID in every bank, and you can also present a national identity card.
A statement of address from a real estate agency
Usually, a utility bill or rental contract is used, but before opening the account, find out if your bank accepts addresses outside Belgium.
The top bank accounts for people living in Belgium
Due to so many expats living in Belgium, there are banks with worldwide operations and staff who speak English.
Santander is one of the international banks in Belgium and might prove useful for you if you have an account with them in the UK.They include:
- BNP Paribas Fortis.
- KBC Bank.
- Belfius.
- ING Bank.
- BNP Paribas Fortis.
As one of the largest banks in Belgium, BNP Paribas Fortis is also recognised globally. It has accounts and services, in addition to mortgages, insurance and savings and investment opportunities.
BNP Paribas offers several banking packages in its everyday banking service: the Easy Guide Pack, the Easy Go pack and the Hello Pack. It is possible to add additional services, such as credit cards to these accounts.
KBC Bank
The bank was started in Belgium, yet today it supports clients in many different countries.
For your convenience, you can opt for a KBC Basic Account or a KBC Plus Account. They both allow their users to carry out banking transactions online and use a debit card. The Young Person’s account is available for those under 25.
Belfius
Belfius was set up in 1996 and today forms both a bank and an insurance company. Since it is a public company, it is fully owned by Belgium. Belfius has two types of payment accounts, named Beat New and Beat Star. Many people choose Beats Pulse, since it is a free account that gives you a debit card.
ING Bank
ING Bank Belgium is a branch of ING and provides both retail and commercial banking services. This bank has branches in every part of Belgium. It has the Do Basic and Do More packages available each day, which include a current account, debit card and more.
Some other banks and alternative options to consider
Along with traditional banks, digital banks are also available in Belgium.
The following is included on the list:
Bunq
Bunq is a bank based in the Netherlands that gives customers the choice of managing both personal and business accounts from their phones.
Vivid Money
Vivid Money is an online banking platform offered to people from the EU. Accounts and cards are provided by HSBC for people as well as companies.
Revolut
An app that offers banking, a debit card and many other services.
Since it has a licence from the German banking authorities, N26 is a completely mobile bank that lets customers choose from several current account options, even with the free plan.
There are also other companies like Revolut and Monzo that are not banks yet offer accounts, payments and cards to their customers. This also involves the Wise money services provider, which provides Belgian users with a multi-currency account, debit card, transfer services and a mobile app.
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