Bank fees in Belgium
Charges on a Belgian current account fall into four groups: account maintenance, cards, cash withdrawals and transactions outside the euro area. Maintenance runs from nothing to just under a hundred euros a year on the accounts compared here. It is the most visible line and, for anyone who travels, far from the heaviest one.
Compare only the two or three lines you genuinely use. A package at forty euros a year is irrelevant if it saves you a hundred and fifty in conversion commissions; conversely, a free account does not compensate for an expensive credit card if car hire or hotel bookings mean you need one. Everything else on the schedule is noise.
The four charge lines
Account maintenance is the package fee. On the Belgian accounts compared on this site it goes from zero on the online and neobank tiers up to just under a hundred euros a year on the most complete branch packages, which bundle advisers, premium cards and insurance.
Cards split in two. The debit card is normally inside the package; the credit card is normally outside it, billed annually, and priced by card tier. A second card for a partner is charged separately again.
Cash withdrawals are free within a quota and within the arrangement your bank belongs to, then billed per operation. Belgian banks have pooled a large part of the machine network, so the practical question is what your own tariff counts as an in-network withdrawal.
Transactions outside the euro area carry a conversion commission as a percentage of the amount, sometimes with a fixed minimum, plus a surcharge on cash withdrawals in another currency. This is the line on which two accounts with identical package fees can differ by a factor of several.
The charges that surprise newcomers
Dynamic currency conversion is the trap that catches most new arrivals travelling outside the euro area. A foreign terminal offers to charge you in euros; the rate applied is the merchant's, not your bank's, and it is almost always worse. Always choose the local currency.
Rejected direct debits and unauthorised overdraft charges are billed per incident and the amounts are not small. They are also entirely avoidable, and they cluster in the first months after a move, when direct debits are still being redirected.
One-off acts — a certificate for a landlord or a consulate, a document search, an urgent transfer, a card stop instruction — are billed per act on a published schedule. Ask the price before requesting one; it is often cheaper by another route.
Securities transfer fees apply if you move an investment portfolio and can be significant enough to delay a bank change. Closing a plain current account is regulated and generally free once it has been held for a minimum period.
Frequently asked questions
What does a current account cost per year in Belgium?
On the accounts compared here, the maintenance fee ranges from nothing to just under a hundred euros a year. The spread reflects what is bundled: the zero tiers are online-only with a debit card, while the top of the range includes branch advice, premium cards and insurance cover attached to the package.
Why is my card billed separately from the account?
Because Belgian banks price the package and the cards as separate products. The debit card is usually inside the package and the credit card outside it, with its own annual fee that depends on the card tier. Add that fee to the package before comparing an account against another.
How do I avoid currency conversion charges?
Use a card from an institution that applies the interbank rate without a markup for the amounts you actually spend, and always pay in the local currency when a foreign terminal offers you the choice. The conversion proposed by the merchant is almost always worse than your own bank's.
Does closing a Belgian account cost anything?
Closing a current account is regulated and generally free once the account has been held for a minimum period. Charges can remain for transferring a securities portfolio, which follows separate rules. The bank mobility service that moves your direct debits to another bank is free in all cases.