List of banks in Belgium and their types

Belgium is home to a diverse range of banks, each with its own unique characteristics and services.

Some of the most well-known banks in Belgium include BNP Paribas Fortis, KBC Bank, and ING Group.

These banks are often categorized into different types based on their business models and services offered.

In Belgium, you'll find several types of banks that cater to different needs.

Retail banks, like BNP Paribas Fortis, are the most common type, offering everyday banking services to individuals and small businesses.

Commercial banks, such as KBC Bank, primarily focus on serving large corporations and institutions.

Investment banks, like Belfius, specialize in providing financial services to companies and governments looking to raise capital or engage in large transactions.

Cooperative banks, like Vancity, are member-owned and focus on serving the financial needs of their members.

Commercial banks play a vital role in the Belgian banking system, with 95 different banks operating in the country. Many of these banks are part of international or foreign banks, with around 3,195 branches in Belgium.

The largest commercial banks in Belgium focus on private clients and small and medium-sized enterprises, offering a range of services including current accounts, loans, and savings accounts. For example, KBC Bank, the second-largest bank in Belgium, offers current account services with a yield of 1% and 5 cents for each transaction executed.

Some commercial banks in Belgium also offer mobile banking apps, allowing customers to bank and make payments using their smartphones or tablets. This is especially convenient for customers who want to access their accounts and keep track of their finances on the go.

Here are some of the services offered by commercial banks in Belgium:

Overall, commercial banks in Belgium offer a wide range of services to meet the needs of individuals and businesses alike.

Private banks are a type of bank that specializes in managing the financial affairs of high net worth individuals and families.

Delen Private Bank, a Belgium bank, is a prime example of a private bank that offers specialized services in asset management, including discretionary management.

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It was established in 1936 and initially operated as an exchange office, offering banking and insurance services.

The bank is now a part of a holding company called Finaxis and is a pioneer in estate planning, which involves structural analysis and planning of assets.

Delen Private Bank has branches spread across Belgium, Switzerland, and Luxembourg under the National Bank of Belgium (NBB) and FSMA (Belgian Financial Services and Markets Authority).

As of 2018, the net profit of Delen Private Bank was around €1,186 million.

The bank offers a range of services, including private wealth management and stock brokerage services.

Its expertise in estate planning is a key differentiator, allowing clients to plan and structure their assets effectively.

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In Belgium, cash is still widely accepted, especially at smaller shops and markets. There are over 13,700 cash dispensers and ATMs in the country.

You can withdraw cash using your Bancontact/Mister Cash card, which is a debit card linked to your current account. It's a good idea to have one of these cards, as some places still don't accept alternative payment methods.

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Most major banks in Belgium offer credit cards, although fees can vary greatly depending on the type. You can also get international credit cards like Visa and MasterCard in Belgium, but they may operate like debit cards, taking the full balance from your account each month.

Direct debits and standing orders are also popular in Belgium. You can authorize companies to debit money from your account before a bill deadline using direct debits, or set up standing orders for regular payments of a fixed amount.

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There are over 13,700 cash dispensers and ATMs in Belgium.

Most cash machines in Belgium are located at Belgian banks, so you'll often find them in bank lobbies.

Certain ATMs may not issue cash on credit cards, in which case trying a different Belgian bank's ATM can sometimes work.

Dispenser lobbies within Belgian banks are often open after hours, but usually only for bank customers who must swipe their bank card for entry.

You may find yourself queuing at peak times for an ATM at central banks in Brussels, or that machines are low on cash after a big Saturday night.

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Debit cards are a popular payment method in Belgium, especially for online purchases, where they rank as the second most common form of payment between 2015-18.

The most common bank card in Belgium is the Bancontact/Mister Cash card, which is a debit card linked to your current account.

It's a good idea to have a Bancontact/Mister Cash card, as there are still places that don't accept alternative payment methods.

You'll receive a Bancontact/Mister Cash card with a PIN number when you open a Belgian bank account.

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Most types of credit cards are accepted in Belgium and were the most popular form of online payment method as of 2018.

You can get a Visa in Belgium or MasterCard from a local bank, and the standard option is for this to operate like a debit card, with the full balance taken from your account each month.

Most major banks in Belgium offer credit cards, although fees can greatly vary depending on the type.

American Express and other major international credit cards can also be obtained and used in Belgium.

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Direct Debits are a convenient way to pay regular bills in Belgium, and they're known as domiciliation/domiciliering.

You can authorize trusted companies to debit money from your account before a bill deadline, making it a common choice for utility bills.

Direct Debits can be set up by contacting your Belgian bank, and many banks also allow this to be done online.

Digital banking in Belgium is a convenient and secure way to manage your finances. Most standard Belgian banks now offer internet banking options as well as phone banking to make it easier for customers to access their accounts and keep track of finances.

You can also use mobile banking apps in Belgium, enabling customers to bank and make payments using their smartphones or tablets. Some of the bigger banks offer mobile banking apps, making it easy to stay on top of your finances on the go.

Online banks in Belgium, like N26 and Revolut, offer a range of services, including fee-free accounts and user-friendly features. These banks allow you to open and manage your account without ever having to see your banker.

Some online and mobile providers of banking in Belgium include:

Digital banking in Belgium is evolving to keep pace with technological advancements, with established banks investing in digital transformation and fintech startups introducing specialized financial solutions. The regulatory framework and initiatives to promote innovation are fostering a dynamic and competitive digital banking environment.

Belgium has a diverse range of banks to choose from, each with its own unique offerings.

Revolut is a popular choice among digital banking enthusiasts. It offers a range of features and services that cater to the needs of modern consumers.

Argenta Bank is a well-established bank in Belgium, with a strong presence across the country.

BNP Paribus Fortis is another major player in the Belgian banking scene. It offers a wide range of financial products and services to its customers.

KBC Bank is one of the largest banks in Belgium, with a reputation for excellent customer service.

AXA Bank - Belgium offers a range of financial services, including insurance and investment products.

ING Belgium is a well-known bank with a global presence. It offers a range of financial services to its customers.

Crelan is a digital bank that offers a range of online banking services.

Rabobank is a Dutch bank with a presence in Belgium, offering a range of financial services to its customers.

ING Belgium also makes the list, offering a range of financial services to its customers.

Key-Trade Bank specializes in providing financial services to small and medium-sized businesses.

Here is a list of the top banks in Belgium:

If you're looking to bank with a major institution in Belgium, KBC Bank is a popular choice with a long history dating back to 1925.

KBC Bank has a significant presence in the country with over 1,000 branches across Belgium.

One of the most well-known banks in Belgium is BNP Paribas Fortis, which offers a wide range of financial services to both individuals and businesses.

BNP Paribas Fortis is a universal bank operating in Belgium, offering three core services: retail banking, corporate & institutional banking, and investment solutions. The bank is the largest operating unit in Belgium, headquartered in Brussels.

As of July 2021, it has almost 1,93,000 staff members, a testament to its vast operations. The bank's headquarters is located in Brussels, making it a significant player in the country's financial sector.

BNP Paribas Fortis has a significant presence in Belgium, with a wide range of services catering to various customer needs. Its services include retail banking, corporate & institutional banking, and investment solutions.

As of 31 December 2020, the net income for shareholders was €7.1 billion, indicating the bank's financial stability and success. This impressive figure is a reflection of the bank's strong market presence and customer base.

The bank's services are designed to meet the diverse needs of its customers, from individuals to corporate entities. Its investment solutions are particularly noteworthy, offering customers a range of options to manage their finances effectively.

Here are the three core services offered by BNP Paribas Fortis:

These services are a key part of the bank's operations, catering to the needs of various customers and helping them achieve their financial goals.

KBC Bank is the second-largest bank in Belgium, established in 1973 with headquarters in Brussels. It's actively involved in various banking services.

The bank focuses on private clients and small and medium-sized enterprises. This target market allows them to tailor their services to meet the unique needs of these groups.

KBC Bank offers a range of services, including retail banking, asset management, debt capital markets, and corporate banking. They also provide specialized services like reinsurance and private equity.

The bank's net income in 2019 was €2.48 billion, with total assets of €290.7 billion. This significant revenue is a testament to their successful business model.

Here are the current account services offered by KBC Bank:

Savings account holders can earn an interest rate of 1.50% and a fidelity premium of 0.40%.

Key-Trade Bank is a financial institution based in Belgium with subsidiaries in Luxembourg. They offer a range of banking services, including regular retail banking, which is perfect for everyday transactions.

Their trading activities are also quite impressive, providing access to a variety of financial products such as stocks, bonds, mutual funds, options, and warrants. This makes it easier for investors to diversify their portfolios.

Key-Trade Bank's online platform is designed to make investing in Forex and the futures market more accessible to professional investors. This is a game-changer for those who want to trade on their own terms.

Rabobank is the branch of the Dutch financial group.

Rabobank is one of the largest online banks in Belgium.

The bank's main focus is on providing a healthy interest rate, professional customer service, transparency, and security.

Rabobank's net profit in 2018 was 3,004 Million Euros, a 12% increase from the previous year.

The bank's total revenue remained stable despite low-interest rates.

Rabobank is active in more than 40 countries, allowing it to leverage expertise and execute power at a global level.