The best banks in Belgium
Moving to another country is never easy. First, there is adjusting to the culture, food, people, and many other things which keep you puzzled every day. Although transportation and other things today have made traveling easier, it is still difficult for a person to manage everything single-handedly. Out of all those tasks that prioritize finding the best bank in Belgium is also important. Whenever you think of moving to the country, one of the first things that you should accomplish is to get a free bank account in Belgium.
While withdrawing money from an Overseas Bank could appear as an option, we recommend getting associated with a local bank considering you would be in the country for a longer time and hence, a wise decision to save on some extra cost. Take a quick look at some of the most popular banks in Belgium with the minimal hassle of opening a brand new bank account.
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#1 -The best Belgian bank
N26 is a smart bank for expats which gives more control over your money. No hidden fees and free worldwide withdrawels. |
N26 is a smart bank for expats which gives more control over your money. No hidden fees and free worldwide withdrawels. |
9.1
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Visit n26.be |
#2
With Nickel, the account process is as simple as it gets—1 Account and 1 Card in just 5 minutes. With over 3 million satisfied customers and a vast network of 9,000 Nickel points of sale, this BNP Paribas group member ensures transactions are 100% secure. |
With Nickel, the account process is as simple as it gets—1 Account and 1 Card in just 5 minutes. With over 3 million satisfied customers and a vast network of 9,000 Nickel points of sale, this BNP Paribas group member ensures transactions are 100% secure. |
8.7
| Visit Nickel.be |
#3
KBC bank in Belgium is one of the highly functioning financial institutions. It is great for ex-pats due to its services and low fees. |
KBC bank in Belgium is one of the highly functioning financial institutions. It is great for ex-pats due to its services and low fees. |
8.2
| Visit KBC.be |
#4
AXA bank in Belgium another hugely popular bank that helps customers in creating a bank account easily. However, online user experience is less friendly. |
AXA bank in Belgium another hugely popular bank that helps customers in creating a bank account easily. However, online user experience is less friendly. |
7.8
| Visit Axabank.be | #5
ING is another bank in Belgium which is also great for expats due to its vast list of services and customer satisfaction. |
ING is another bank in Belgium which is also great for expats due to its vast list of services and customer satisfaction. |
7.1
| Visit ING.be |
N26 – a mobile bank
There are many banks in Belgium, but as an outsider, you must settle for the best. One of the best banks in Belgium is N26. It is a mobile bank that helps you manage your bank account easily. Whenever you are in a dilemma as to which bank to choose in Belgium, mobile bank N26 helps you out. What makes N26 trustworthy is the way they handle all the bank accounts. The bank comes with no hidden fees and is a free bank account. Once you open an account with N26, you immediately get access to a standard bank account. The bank is easily accessible by mobile and gives you a chance to keep track of money spent easily. Also, you get a MasterCard and free ATM withdrawals in Euros. There are also no hidden foreign costs which help you to easily know what expenditure you are making.
Some strong aspects of the bank are:
Security: it has high-security features. The bank operates with a full European banking license and is protected by EU directives. There is also fingerprint identification, which keeps your money safe while making purchases.
Push Notifications Service: the push-notification service keeps track of all the transactions done, whether you are withdrawing the money or depositing an amount every activity that takes place in your account as notified to you.
Inculcating Artificial Intelligence in the App: if you fall into the category of people who are confused about where their money goes, then the N26 app has it all sorted for you. Thanks to the artificial intelligence inculcated in the app, it shows you the accurate statistics of your spending in the whole month. All these and many more features make the N26 app one of the best in the Belgium market today.
Tips and Tricks for Opening an Account with Belgium Banks
- Both credit cards and debit cards are accepted at the banks.
- All banks in the country also accept cash and coins. Therefore there is no need to worry.
- ATM’s are located in all banks, and they even accept international cards.
- Almost all banks in the country are open on weekdays between the standard business time.
- Online accounts in some banks come with an additional £100 charge.
- Many banks offer online international money transfers. You can use the service of the Swift network and transfers for transferring the money.
- Find a bank which offers free credit card, low withdrawal fees, fair credit rate, flexible contacts, savings account, and English speaking customer service.
Advantages of online banking in Belgium
Thanks to the latest technology advancements, we now have smartphones and the internet. It has made our lives a lot easier regarding online shopping, booking movie tickets, and plane or train tickets. We can now also gain Access to our finances through online banking in Belgium. Let us look at the top benefits of online banking in Belgium.
- Online Account Opening: one of the great features of online banking is that you can open a new account in minutes in the comfort of your home.
- Instant Access: online banking will allow you to enjoy a full service range from your mobile phone, computer, or tablet. You can log in to your account anywhere and anytime.
- Save Money: when you automate your finances, you can ensure to make payments on time. It will help you save money on fixed expenses.
Conclusion
Irrespective of whether you are moving to Belgium for study or other purposes having a bank account is the way to lead a stable life. Most of us might not know this, but a bank account is mandatory for a satisfying life. Choosing a bank in the financial hub of Belgium is slightly difficult. However, banks like N26, ING, Belfius, banking, and creating accounts have become smooth.
Although finding the best bank in Belgium is not very difficult, always keep in mind the services mentioned above. Moving to a new country is indeed really difficult. But with the information pitched above, you can easily find your niche and get yourself ready in a few days.
FAQ about banking in Belgium
To help ex-pats moving to the country, Belgium has a list of bank accounts. They are:
Basic Current Account:
The basic current account is a type of bank account that is offered by most of the banks. It is available without the monthly fee and helps users to access online and in-branch banking. Credits cards do not come with this account.
Premium Current Account:
The premium current account is the one that allows free cash withdrawals and cash replacements. Some also allow an extra cardholder fee.
Bundled Account:
Bundled accounts include both credit cards and insurance packages. These are charged at a slightly higher fee but require a minimum payment amount each month.
Savings Accounts:
The savings accounts come in all shapes and sizes. Users can withdraw cash within 24 hours, and some bank provides specific milestones such as buying a house to the account holders.
Offshore Bank Account:
All ex-pats living in Belgium can open an offshore account for more advantages. The account helps users to transfer money and has more legal advantages over other bank accounts.
When choosing banks in Belgium, there are a variety of things. These include the location of the bank and the ways to manage your bank. However, one thing is for sure, the majority of accounts in Belgium are free paying, so you can always think of getting the best deal.
One of the easiest ways of opening a free bank account in Belgium is by choosing the best bank with great services. Many banks in and around the country accept non-resident accounts in Belgium. Another option is to open an account with International banks. This means that the branch must have options in both your homeland and other countries as well. There are the following steps for following the same:
- In the first step, apply for a bank account before reaching the country.
- You can select the bank based on location preference and others.
- When you arrive in Belgium, visit the branch with proof of identity.
- Some banks will also ask for a residential permit, and you can go for one.
- In addition to these, almost all banks in Belgium have both credit card and debit card services, which make it easy for all purchase-related things.
- What Are The Different Types of Accounts in Banks?
There is no denying that opening a bank account in Belgium is more than a simple process. It can be said that it is one of the most straightforward processes in the world. For all those who are eager to open a current account in Belgium, all they need is a passport, a filled bank account form, and proof of your current address.
It is also true that Belgian banks offer foreign clients a variety of services. The services are mostly demarcated into personal and public. Most of the ex-pats living in the country can also partake in the investment services offered in the banks of Belgium.
Opening an account is an easy process in Belgium. Some of the banks provide hassle-free banking. We all know that Belgium has the largest bank per person ratio in the world. It is also the only nation fuelled by an electronic banking system.
Such is the privilege of how to open a bank account Belgium that people who move to the country can go for an online process. However, the policy of each bank varies highly. On average opening, a bank account in Belgium takes almost two weeks. Therefore, it is very essential to open an account before landing in the country.