How to Do International Banking in Belgium?10 min read

How to Do International Banking in Belgium?10 min read

Opening an international banking account in Belgium allows you to manage your finances on a global scale. 

However, selecting the right bank and satisfying their requirements can seem daunting at first. This guide will walk you through how to get started with international banking in Belgium.

What Documents are Required to Open an International Banking Account in Belgium?

Most banks in Belgium require similar documentation to open an international account. You’ll generally need:

• Valid passport or national identity card
• Proof of address in Belgium (utility bill, rental agreement, etc.)
• Income documents (pay slips, employment contract, etc.)

Some banks may ask for additional information depending on your circumstances. For example, if you’re self-employed, you may need to provide business registration documents or tax returns. 

Certain online-only banks have streamlined requirements and may accept documents sent electronically rather than physical copies.

Regardless of the bank you choose, be prepared to verify your identity and address upfront. Having all relevant documents organized will help speed up the account opening process. 

Most require this know-your-customer verification to comply with international anti-money laundering regulations.

How Long Does It Take to Open an International Banking Account in Belgium?

The timing to open an international account can vary between banks and whether you apply online or in-person. Traditional brick-and-mortar banks generally take 7-10 business days once you submit a complete application with all required documents.

Fully digital banks tend to be quicker since the entire process is online. Some allow you to open an account and receive debit cards within a week. 

With mobile verification options, it’s becoming possible to complete sign-ups in just a few business days or even hours in rare cases.

One exception is if you need to provide additional information during the due diligence process. This can add a few extra days or weeks to the review depending on how quickly you respond to requests. 

Having all requirements in order upfront helps ensure a smooth and speedy onboarding experience.

What are the Benefits of Having an International Banking Account in Belgium?

There are several advantages that make international banking accounts in Belgium useful for both locals and expats:

• Global access – Manage finances from anywhere with online and mobile banking tools. Belgo-European Economic accounts enable banking across the EEA.
• Multi-currency accounts – Hold balances in major currencies like euros, dollars, pounds, without currency exchange fees on deposits.
• International payments – Send and receive cross-border money transfers easily using SWIFT/IBAN. This includes low-cost SEPA transfers within Europe.
• Online investments – Access global investment opportunities including stocks, ETFs, funds, cryptocurrencies, metals trading with one integrated platform.
• Tax planning services – get guidance on cross-border tax filing and optimizing your global tax situation from qualified financial advisors.
• Higher interest rates – Earn higher yields on savings than typical local Belgian accounts through competitive interest rate options on deposits.
• Security and privacy – Institutional-grade security protects accounts while private banking services maintain financial discretion.

Can I Use My International Banking Account in Belgium for Online Transactions?

Yes, modern international banking platforms are fully equipped for online and digital payments. Features that enable seamless e-commerce include:

• Debit cards compatible with online shopping sites and digital wallets like Apple Pay or Google Pay
• Virtual cards available on mobile apps for one-time online payments without sharing your main card number
• “Online banking” website and app log-ins allowing bill pay, money transfers, and account management on any device
• Notification and control options to monitor transactions in real-time and disable cards remotely if lost or stolen

Secure authentication through methods like two-factor codes ensures smooth and protected web commerce. 

Many banks also insure online purchases for a period in case of fraudulent activity. So international accounts provide all the digital functionality needed for residing and shopping online globally.

Which Bank is the Best to Do International Banking in Belgium?

For individuals relocating or maintaining a global presence, The Kingdom Bank stands out as a top choice for international banking needs in Belgium. 

Here are some key reasons why:

• The Kingdom Bank is a fully licensed and regulated digital private bank established in Dominica.
• As one of the only mobile-first international banks , accounts are managed seamlessly through our award-winning app – no need to visit physical branches.
• No minimum deposit requirements or account fees allows everyone to benefit from our premium services.
• In addition to standard banking, The Kingdom Bank offers trading capabilities for stocks, ETFs, funds – perfect for knowledgeable investors.
• Multi-asset accounts let you hold balances comfortably in 50+ major currencies along with select cryptocurrencies like Bitcoin.
• Excellent customer service is available 24/7 by phone, email and the integrated help center. Support is offered in English, Spanish, German and French.

Whether relocating, traveling frequently or simply conducting global business, The Kingdom Bank’s all-digital solutions make international banking from Belgium worry-free and highly convenient compared to traditional players. Our competitive conditions also offer excellent value.

The Kingdom Bank is arguably the best online option for international banking needs from right within Belgium due to our best-in-class digital services, global capabilities and customer-centric private banking approach. 

Our dedicated mobile apps for iOS and Android deliver a seamless banking experience wherever your journey may take you.

As the world grows more interconnected, having access to global banking services from Belgium provides clear advantages.

For frequent international money transfers, online currency management or simply earning higher yields on savings – an international account overcomes many frictions of traditional local banking.

Digital-led providers have made the process remarkably stress-free by eliminating paper documents and long wait times. The Kingdom Bank stands out through our tailored global solutions and accessible requirements.

By opening such account, you gain powerful financial tools to easily tap new opportunities wherever they may arise. 

Establishing international banking with an expert like The Kingdom Bank provides maximum flexibility to take advantage of globalization’s benefits from your base in Belgium.