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Belgium (BE)

Belgium is a small but densely populated federal kingdom at the crossroads of Western Europe, split across three linguistic regions — Dutch-speaking Flanders, French-speaking Wallonia, and bilingual Brussels — and famed for its medieval cities, world-class beer and chocolate, and its role as the de facto capital of the European Union.

Capital: Brussels
Region: Europe
Language: Dutch
Currency: EUR (€)
Cost of living: Expensive (index 72)
Emergency: 112
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Banking in Belgium

Recommended banks, payment culture and credit score basics.

Belgium has a mature and highly digitalised banking system. The dominant banks are BNP Paribas Fortis, ING Belgium, KBC, Belfius, and Argenta. Bancontact is the Belgian domestic debit card network — accepted almost universally in Belgium. Opening a bank account requires commune registration (to have an address) and an eID or valid residence document. Neobanks (Revolut, Wise, N26) are widely used by expats as complementary accounts. Belgian banks are regulated by the National Bank of Belgium (NBB) and the FSMA.

Recommended banks

BNP Paribas Fortis

English
traditional

Monthly fee: €1–3/month (Easy Banking Plan); private accounts can be fee-free with sufficient activity

Requirements: Belgian address (commune registration), eID or passport + residence permit, Belgian tax number (NISS). EU citizens may open before receiving eID using passport + Annex 19.

  • + Largest bank in Belgium — branches everywhere
  • + Strong English-language online banking and mobile app (Easy Banking)
  • + International Money Transfers via Hello bank! sub-brand
  • + Accepts EU citizens before they have an eID (using passport + Annex 19)
  • + Wide ATM network; Bancontact issued automatically
  • - Monthly fees of €1–3/month apply on all Easy Banking account tiers
  • - Physical branch visit required for account opening — online-only opening not available for new customers
  • - International wire fees outside SEPA: €15–25 per outbound transfer — Wise is significantly cheaper
  • - Customer service wait times can be long at busy Brussels and Antwerp branches

KBC

English
traditional

Monthly fee: €1.25–4/month depending on plan

Requirements: Belgian address and eID or valid residence permit. KBC app highly rated.

  • + Very strong mobile app (Kate AI assistant)
  • + Bancontact + Mastercard included
  • + Good English-language support
  • + Strong in Flanders and Brussels
  • + Integration with Belgian government services
  • - Less widely available in Wallonia and the French-speaking south — KBC is predominantly a Flemish bank
  • - Monthly fee of €1.25–4/month applies; no free account tier
  • - In-person branch visit required to open — online-only account opening not available
  • - International wire fees outside SEPA: €15–25 per outbound transfer — Wise or Revolut are cheaper

Belfius

English
traditional

Monthly fee: €1.75–3.50/month

Requirements: Belgian address, eID or passport + residence document

  • + State-owned (since 2011 rescue) — stable and trusted
  • + Good mobile app with English support
  • + Strong presence in Brussels and Wallonia
  • + Competitive savings products
  • - Less internationally focused than BNP Paribas Fortis or ING — fewer expat-specific products
  • - Monthly fees of €1.75–3.50/month apply; no free account tier
  • - International wire fees outside SEPA: €15–25 per outbound transfer
  • - Non-EU nationals may face additional documentation requirements at opening

ING Belgium

English
traditional

Monthly fee: €0–5/month depending on account type

Requirements: Belgian address, eID or passport + residence permit, NISS/INSZ number

  • + Part of the international ING Group — reassuring for expats
  • + Strong English-language digital banking
  • + ING Orange Savings Account with competitive rates
  • + Good customer service in Brussels
  • - Branch network reducing — ING has been closing Belgian branches; app and online banking are the primary channels
  • - International wire fees outside SEPA: €15–25 per outbound transfer — Wise is significantly cheaper
  • - NISS/INSZ number required — may delay opening for very new arrivals before commune registration
  • - Monthly fees apply if minimum conditions (salary credit or balance) are not met

Wise

English
online

Monthly fee: €0 (account free; fees per transfer)

Requirements: Passport or ID; no Belgian address required. Can be used from day 1 before commune registration.

  • + Best exchange rates for international transfers
  • + Belgian IBAN issued (BE xx xxxx xxxx xxxx)
  • + Ideal while waiting for commune registration and eID
  • + No foreign transaction fees
  • + Multi-currency account
  • - Not a full Belgian bank — limited for Bancontact transactions
  • - Not accepted for all Belgian salary payments
  • - No Belgian ATM network

Revolut

English
neobank

Monthly fee: €0 (Standard) to €13.99/month (Premium)

Requirements: Passport or EU ID; no Belgian address needed to open

  • + Instant setup from phone — ideal for day 1 in Belgium
  • + Excellent multi-currency accounts and international transfers
  • + Belgian IBAN available
  • + Wide range of financial products (stock trading, crypto, insurance add-ons)
  • - Not a full Belgian bank; some Belgian payees do not accept Revolut IBANs
  • - No Bancontact — use Visa/Mastercard option
  • - Not covered by Belgian deposit guarantee — covered by Lithuania's deposit protection scheme (€100,000 per depositor; Revolut is EU-licensed via Bank of Lithuania)

Payment culture

Belgium is predominantly a card and contactless payment society. Bancontact (the Belgian domestic debit network) is accepted in virtually every shop, restaurant, market, and service provider in the country. Contactless and mobile payments (via Apple Pay, Google Pay linked to Bancontact or Mastercard) are widespread. Credit cards are less commonly used for everyday purchases but widely accepted in hotels, restaurants, and online. Cash is still used at some small markets, older cafés, and for tips. ATMs (distributeurs automatiques / geldautomaten) are plentiful in cities.

Cash access

Bancontact ATMs (branded as Mister Cash or Bancontact) are widespread. Major bank ATMs: BNP Paribas Fortis, KBC, Belfius, ING at train stations, shopping centres, and city centres. Foreign Visa and Mastercard work at all Belgian ATMs. Fees vary: Belgian bank ATMs are usually free with a Belgian card; foreign cards may incur €2–5 per withdrawal. SEPA-zone cards generally incur lower fees.

CCP — Central Point of Contact for Credits

You can request your personal credit data at the National Bank of Belgium (NBB). The CCP records all consumer credits, mortgage loans, and defaults in Belgium.

Free annual check: One free check per year via the NBB portal: nbb.be. You can also request via post or in person at an NBB branch.

Belgium does not use a single credit score system like the US. Banks assess creditworthiness individually based on your CCP data, income, employment stability, and length of residence. A clean CCP record is essential for mortgages and consumer credit.

International transfers

SEPA transfers within the EU are free or very cheap via Belgian banks. For international transfers outside SEPA, use Wise or Revolut — traditional Belgian bank charges can be €15–30 per transfer. Belgian banks are SWIFT-enabled for global transfers. Some banks offer preferential rates for expats with international salary arrangements (e.g., ING Expats Programme).