Search Q&A
Searching for the Best Bank for Expats
Hello there! I just would like to ask for your opinion. I am planning to open a bank account here in Belgium for the first time. I am starting now to apply for a job and a bank account is one of their requirements. What is the best bank in Belgium for an expat like me? Looking forward for your replies. Thank you so much! :)
In the 15+ years that I have been using this site I have seen every bank in the country praised - and every one cursed!
Although much banking is now done on-line, your account still has to be based at a specific branch so you want a branch which is convenient for your work or home and where the staff will be happy to speak in a language which you understand. Also, opening hours might be important - do they open late at least once a week and/or on Saturday morning.
As far as I can see, no specific bank offers benefits which makes it stand out over the rest.
IF your French/Dutch remains pretty basic, then ING have the advantage that you can (largely) communicate with them in English, including their internet banking and helpline.
I currently use both ING and Belfius, both have advantages and disadvantages.
Yea, they all screw up from time to time which is why you see them all cursed at some point. Personally it's pure idleness that has stopped me closing my (expensive) ING account and going to an online bank such as keytrade.
The most inconvenient thing at ING is electronic money transfer, as it can take around 3 days. There were a few bad stories with papers as well. I swiched to KBC.
RAISA must be on the money-laundering suspect monitor list. Electronic money transfers from my ING account, ordered on Homebank, are normally in the destination account by the next day.
I too must be on the money-laundering suspect monitoring list and have been for 15 years. ING.
Transfers take two to three days. Mind you, are we not all under suspicion these days, particularly us expats? I spend my life paranoid that one international transaction will trigger an investigation that will cost a fortune. Already seen it happen to one person who was naïve enough to think it could not happen to them because "they" were here working for the commission, and she only had a part time job working for StoneManor.
THEN she discovered that taking a local job means Belgium wants to know why there is XXX amount in a foreign account and that taxes were due on a host of things that she never dreamt were possible.........
Don't know what your nationality is, but if you are American, some banks are now wary to let you open an account because of the new US requirements for overseas banks to report Americans' account info. Deutsche Bank, for instance, won't take you. But large banks with a lot of American clients (like ING) are still serving Americans.
All are robbers. You need to find out who robs you the least. Just like electricity and gas companies. I recommend KBC.
keytradebank.com is the best bank I've had experience with in Belgium by far - online platform is a dream to work with and is all in English. ING is horrible.
I've been with KBC for 3 years now - I'm very happy with them. professional, multi-lingual staff, good product offers, and I find their website & on-line banking very safe & secure.
