Banking in Belgium for Indian Expats
Asha MenonCommunity desk
Brussels · Belgium · 27 July 2024 · 2 min read
Belgium is close to cashless, so the account is not a convenience — rent, the deposit, your salary and most shops all assume you have one. The good news is that a basic current account is free at most Belgian banks, and none of them make you pay for the privilege of being new.
At a glance
The banks worth shortlisting
| Bank | Basic account | Why people pick it |
|---|---|---|
| KBC | Free | Simple to open, strong app, good service in English |
| ING | Free (“Lion”) | Around 700 branches; easy to find one near you |
| Beobank | Free | Straightforward free current account |
| BNP Paribas Fortis | €3/month pack | “Comfort Pack” covers up to three family accounts; dedicated expat desks in the big cities |
Belfius and Argenta are the other names you will hear. For a first account the differences are small — pick one with a branch near you and an app in a language you read.
What to bring
- Passport, and your residence card or the proof of registration if the card has not arrived
- Your national number, which comes from commune registration
- Proof of address — your lease
- Employment contract, for some banks
This is why the order in your first weeks matters. Most banks want the national number, which comes from the commune, which wants your lease. If a bank turns you away, it is usually this chain rather than the bank — see the first-week checklist.
Opening before you arrive
Some banks will start the process from abroad, and a few online-only providers will open an account on an address alone. It is a reasonable bridge for the first weeks — but a Belgian account at a Belgian bank is what landlords and employers expect, so treat the remote option as temporary.
Self-employed and students
Self-employed need a separate professional account, legally distinct from your personal one; banks offer specific packages and will want your company number. Students get free youth accounts with no fees and usually a free card, on production of an enrolment certificate.
Sending money abroad
Belgian banks apply poor exchange rates and fixed fees to international transfers. For anything substantial, a dedicated transfer service is markedly cheaper — the practicalities are in sending money back to India.
Your bank will never ask for your codes
Phishing by SMS and phone is common here and specifically targets newcomers, who are less sure what is normal. No Belgian bank asks for your card reader response, PIN or app confirmation over the phone or by message. If a caller pressures you to approve something in your banking app, hang up and ring the bank yourself on the number on your card.
Written in 2024. Account fees and packages change — confirm current terms with the bank. For what people are being offered right now, ask in the Namaste Community app.
From our desk, not official advice
Written by the Namaste Community desk under our standing byline, from the questions this community asks most often — not a single person's own account. Rules change and offices differ — check anything that matters with the people who decide it.
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