Bank Account in Belgium

Belgium is a cozy European country with great neighbours: Germany, France, the Netherlands, and Luxembourg. Belgium is famous for its exquisite architecture and delicious chocolate. But these are not its main advantages. It is a highly developed state with modern seaports of international importance in which many political and financial interests are concentrated. The capital of Belgium is Brussels, which is also the capital of the European Union and the headquarters of NATO.

Due to a good business climate and support with benefits and subsidies by the state, Belgium can be called a very good place for creating and conducting business.

Belgium is one of the big banking and finance centres in Europe. Already more than 100 banks, including foreign ones, operate in this country. Belgium is among the European leaders in the ratio of bank branches per capita. The most popular financial institutions in the country include ING, BNP Paribas Fortis, and KBC.

Specialists from “Second Passport” will provide more detailed information and give full assistance in choosing a bank that will fit your personal request.

How to Open a Belgian Bank Account

Opening a current, saving, or checking account in most Belgian banks requires a passport or Belgian identity card with proof of your place of residence. Once you have registered, the bank will personally provide you with a new card or will send it to the address indicated.

If you would like to open an account before your arrival, you should send confirmation of your place of residence to the representative office of your bank upon arrival. In each bank, it is necessary to clarify in advance whether it provides the possibility of opening an account remotely – international banks often offer such a service to their clients.

If you plan to open an account in one of the Belgian banks, we recommend asking questions to our experts through the messenger by phone, located at the very beginning of the page, or by clicking the “order a consultation” button in the top right corner. Our experts will advise and inform you about what initial steps are required to continue with the financial transaction successfully.

From large international banks to small savings banks, Belgium offers a considerable number of banking institutions and services available both for its citizens and foreigners. The density of bank branches places Belgium third in Europe according to the European Central Bank. Belgium is also among the frontrunners when it comes to introducing electronic banking services. At present, over 90% of all transactions are made electronically.

It is desirable to open accounts in Belgium in the large systemic banks, such as Dexia and ING Bank. These banks are oriented toward the business audience, offering the lowest tariffs for account servicing, no fees for opening, and low prices for transfer services.

During recent years, one can notice the destruction of traditional stereotypes in the banking sector. Along with the privatization of state-owned banks and their inclusion into existing financial groups, banks now offer a more complete set of financial services, from passive accounts to business credits and financial market access. Large financial institutions are complemented by specialized banks, offering services that meet individual client needs.

Over the past years, the banking services industry has been revolutionized. Large banks have merged, and the penetration of foreign banks has increased. The five largest Belgian banks – Fortis, BBL, KBC, Dexia, and Artesia – operate in all market segments, including insurance services.

A bank transfer can be made using self-banking ATMs or by phone. Most banks offer account management by phone. Using this service, you can pay bills by phone with tone dialing, from anywhere in the world, by entering a series of passwords to access the account management system.

In Belgium, it is common to pay regular bills by domiciliation, a bank order for automatic payments. The bank will automatically pay your bills for gas, electricity, water, etc. You can also give an order to the bank for regular payments of the same amount, such as rent or loan repayment – this type of order is called a standing order. You can even instruct the bank to transfer funds automatically from your current account to your savings account if the balance in the current account exceeds a certain limit set by you.

If you wish to open a business bank account in Belgium, our staff here at Regulated United Europe will be happy to guide you through the process. We have eight years of experience in opening bank accounts across the European continent. We draw upon an extensive network of trusted associates in the European financial services industry, striving to provide the most applicable and cost-effective solutions that enhance the operations of the businesses we work for.

Company Bank Account in Belgium

Opening a corporate bank account in Belgium is one of the major milestones that many companies seek to accomplish while doing business at the very heart of Europe. Belgian banks are good for businesses because they can offer a broad variety of services along with a great level of customer orientation. Let’s have a closer look at the main steps of opening a corporate bank account in Belgium and the benefits of the process.

Advantages of Opening a Corporate Bank Account in Belgium

• Geographical Position: This country is located right in the center of Europe, so it’s very convenient for business activities in the European markets one way or another.
• Stability and Reliability: Banks in Belgium are known for their stability and reliability; this gives customers a great sense of security and protection of their funds deposited in the bank account.
• Services consist of a wide variety of financial services: financial products like loans and deposits, trading, and liquidity management services are all provided in a wide range of Belgian banks to corporate clients.

Steps of Opening a Corporate Bank Account in Belgium

Personal Bank Account in Belgium

Opening a personal bank account in Belgium is an important step for people who live, work, or invest in this country. In general, the wide range of services offered by Belgian banks, together with a high level of customer service, make managing personal finances easy and convenient. Let’s look at the important steps for opening a personal bank account in Belgium and the benefits associated with the process.

Advantages of Opening a Personal Bank Account in Belgium

• Stability and Reliability: From a long-term perspective, Belgian banks are considered to be stable and reliable. They provide maximum protection and security for customers’ money.
• Wide Choice of Services: Having a personal account opened in a Belgian bank includes the opportunity to get a wide range of financial products: debit/credit cards, savings accounts, loans, and investment opportunities in general.
• Innovative Technologies: The banks of Belgium are very active in applying innovative technologies with the aim of improving customers’ services, such as internet banking and mobile applications that help manage personal finance more efficiently and comfortably.
• Professional Service: Highly qualified service from bank specialists who are ready to give consultations and assist in the solution of any financial issues.

Following are the steps to open a personal bank account in Belgium.

By opening a personal account with any bank in Belgium, customers are entitled to a wide range of financial services under conditions of high customer service. It is recommended that a bank’s reputation, terms of service, and services provided are considered for the best choice in managing personal finances.