How to Open a Bank Account in Belgium

If you are preparing for a move abroad to live and possibly work overseas in Belgium then you will probably want to open up a bank account of some sort at some point. Banking in Belgium is a major industry and there are plenty of different banks for you to choose from when you get ready to open up an account for your self. It is a good idea to shop around and see what bank offers you the best services at the lowest cost as that tend to vary from bank to bank. Researching banks may take a little bit of time as Belgium is supposed to have the largest amount of banks branches per capita of all the countries in the world.

Banks in Belgium offer a variety of services to account holders. They have personal and business banking options as well as investment and insurance services and even loans. Most of the banks list their services on their websites, which should make your research a bit easier. You will find that a basic checking account, called a current account, will be a bit more expensive than in the United States or in the United Kingdom. You can expect a basic current account with a debit card and internet banking to cost you between 50 and 100 Euros per year. Typically the banks in Belgium charge for each service individually. You will usually come out better in getting a package of services that have an annual fee than by paying for each thing separately.

The major banks in Belgium are ING Bank, KBC and Fortis. However there are a number of local and international banks to choose from when opening up an account. Typically banks in Belgium are open from 9 am in the morning until 4 pm in the afternoon. Only a few banks are open on Saturdays. And some banks close for an hour, between 1 pm and 2 pm, for lunch.

When you have selected a bank and are ready to open up an account for your self you will find it to be a pretty simple and quick process. You will need to have your passport or another form of ID to open up a current account. And that is all that you will need!

If you would like to have your account open when you arrive in the country you can pre-open an account before you get into the country. You will need to go to the bank once you arrive though to get your bank and credit cards in person.