Opening a Bank Account

It is a good idea to open a bank account on arrival in Belgium (you will need your passport and a local Belgian address to do this). After you have opened your bank account, you can apply for a bank card (+/- 10€), which will be handy to do your shopping. Especially the first month can be expensive: make sure you have enough money on arrival as you may have to pay a deposit for your room.

Opening a current account (compte à vue/zichtrekening ) in Belgium is relatively easy. To open a bank account in order to deposit funds and have a credit or debit card, the following papers are necessary:

•    Passport
•    Bank Account Application Form (completed and signed)
•    Some banks will request proof of address (such as a utility bill)

Some banks allow customers to open bank accounts online , and there are banks in Belgium that allow foreigners to open an account online before they arrive in Belgium. The bank must be informed once a residency permit has been issued.

Once the account has been opened it can take up to two weeks to receive the cards, PIN codes and passwords necessary to manage the account, although the process may sometimes be quicker. Bank statements (extraits de compte/rekeningguittreksels ) are generally sent out monthly, but it is possible to receive them more frequently for an additional charge.

Overdraft facilities are available on current accounts but banks will request proof of income (for example a work contract) or three months of payslips.

Major Belgian Retail Banks

•    Fortis Bank (in French & Dutch)
•    KBC Groep  
•    Dexia (in French & Dutch) 
•    Citibank Belgium  
•    ING (in French & Dutch)
•    AXA Bank Belgium (in French & Dutch) 
•    Argenta (in French & Dutch)

Post Office Accounts

The Belgian Post Office (La Poste/De Post) offers banking services and is generally cheaper than Belgian retail banks. One of the advantages of a Post Office bank account is that Post offices generally have longer opening hours than other banks. They also have Internet banking facilities.
For further information on the services offered: Click here (in French & Dutch).

Money

The euro (€) is the currency of Belgium (and 14 other European Union countries). Euro notes are issued in denominations of 5, 10, 20, 50, 100, 200 and 500 Euro. Coins come in denominations of 1 & 2 Euro, and 1, 2, 5, 10, 20, 50 cent pieces.

Banks are open Monday through Friday, 9:00am - 4:00pm and are normally closed on Saturdays, Sundays and Holidays. Some banks are open on Saturday morning (sometimes you need an appointment); some close for lunch. Some foreign exchange offices however are open both on Saturdays and Sundays.

ATM machines take almost all popular credit and debit cards and are can be easily found in every train station and shopping street.

Credit Cards

Credit cards are used widely in Belgium, and differ from debit cards in that payments for purchases are removed from the bank account once a month. Both Visa and MasterCard are available through banks, but American Express and Diners Club cards are issued by the respective company. An annual fee is charged for a credit card. Monthly statements are issued about ten days before the payment is debited from the bank account.