Belgium — Banking: Opening Account

Why this matters

A valid bank account is necessary for daily life, receiving a salary, and accessing financial services in Belgium.

Key facts

• All private individuals are entitled to the basic banking service and in principle a bank may not reject the application.
• Refusal is allowed if you already hold a basic or other call deposit account, hold at least EUR 10,000 in accounts or have signed credit contracts of at least EUR 10,000 (a 2022 FAQ gave EUR 6,000), or have fraud-related convictions.
• FPS Economy says banks set their price but may charge no more than EUR 420 a year for the basic service, with unlimited electronic transactions; the cap may be indexed.
• FPS Economy listed six providers in 2024: BNP Paribas Fortis, KBC, Belfius, ING Belgium, Argenta and Crelan.

Steps

1. Step 1: Choose a bank — Research Belgian banks that offer services in English and have a presence in your area or online. Consider factors such as fees, interest rates, and branch locations.
2. Step 2: Gather required documents — Collect identification documents, proof of address, and a tax number (if applicable). The specific documents required may vary by bank and account type.
3. Step 3: Open the account — Visit a bank branch or apply online to open the account. The process may involve meeting with a bank representative or completing an online application form.