The basic banking service in Belgium is a legal measure which ensures that all citizens and legal residents, as well as businesses and missions, have access to an essential bank account. This provision requires banks to provide this minimum service as a guaranteed right.
This basic banking service grants access to fundamental payment operations, subject to legal conditions. It addresses the needs of individuals excluded from the traditional banking system. This measure allows access to the essential financial services needed for daily management.
What is the basic banking service?
The Basic Banking Service in Belgium is a legal mechanism specifically designed to prevent financial exclusion and to ensure that any individual or legal entity with a legal connection to Belgium can access a bank account with essential banking functionalities, even after being rejected by several financial institutions.
According to Article 2 of the Law of 24 March 2003, the basic bank account must include, at a minimum, the following services:
- Receiving and initiating payments within the European Economic Area (EEA): This includes the ability to receive payments from third parties and to make payments via SEPA credit transfers or direct debits.
- Cash deposits and withdrawals: Users must be able to deposit and withdraw cash from ATMs, ensuring access to physical currency when needed.
- Bank transfers: Whether via ATMs, online banking platforms, or manual transfer forms, customers can initiate both domestic and international transfers.
- Debit card payments and direct debits (SEPA): The account allows for debit card usage and setting up automatic payments for recurring bills, such as electricity, gas, internet, or phone services.
In essence, the Basic Banking Service in Belgium guarantees a minimum level of access to the banking system, enabling individuals and companies to carry out the necessary financial operations for both private and professional life. If you or your company have experienced difficulties opening a bank account in Belgium, this service may provide a legal and secure solution.
Who can benefit from the basic banking service?
Who is eligible for the basic banking service in Belgium?
The right to access the Basic Banking Service in Belgium is neither universal nor automatic. However, it is explicitly recognized under Belgian law for specific categories of natural and legal persons. This legal guarantee ensures that those meeting certain conditions can open a basic bank account and avoid financial exclusion.
1. Natural persons legally residing in Belgium
Any individual who resides legally in Belgium may be eligible for the Basic Banking Service, including:
- Belgian citizens.
- EU citizens residing in Belgium.
- Third-country nationals holding a valid Belgian residence permit.
This inclusiveness reflects Belgium’s commitment to financial access for all residents, regardless of nationality.
2. Legal persons, companies, and self-employed professionals
Entities engaged in professional or economic activity in Belgium can also benefit, provided that they:
- Are legally established in Belgium, and
- Are registered with the Banque-Carrefour des Entreprises (BCE), Belgium’s official Company Register.
This category includes companies, non-profit associations, and self-employed individuals, ensuring that the basic banking framework supports not only private citizens but also business operations.
3. Specific entities not registered with the BCE
In addition to the above, certain entities that are not registered with the BCE are also eligible:
- Accredited diplomatic missions based in Belgium.
- Homeowner associations (syndics of co-ownership), as defined in Article 3.86 of the Belgian Civil Code.
These entities, while not classified as businesses in the strict legal sense, are still entitled to access essential banking services in Belgium.
Are banks obliged to grant the basic banking service in Belgium?
While Belgian legislation provides for the right to the Basic Banking Service, this right is not absolute. Financial institutions are generally required to respect this right, but there are specific legal exceptions under which they may lawfully refuse to open a basic bank account. Banks operating in Belgium may reject an application for the Basic Banking Service in the following cases:
- If the applicant has been convicted of financial crimes, such as fraud, money laundering, or embezzlement.
- If there are serious concerns regarding money laundering or terrorist financing risks, in line with Belgian and EU anti-money laundering regulations.
- If there are irregularities in the applicant’s identification documents, or doubts about the authenticity of the information provided.
These exceptions are aimed at protecting the financial system while maintaining a balance between access to financial services and the need for security and regulatory compliance.
In case of unjustified refusal, the applicant can lodge a complaint with the Financial Mediation Service (Ombudsfin), or apply to the Financial Services and Markets Authority (FSMA) to investigate the refusal.
How to apply for a basic banking service in Belgium?
Preliminary requirement: documented refusals from three banks
The first essential step to access the basic banking service in Belgium is to have received an explicit written refusal from at least three different banks established in the country. Each of these rejections must:
- Be issued in written form.
- Include a clear and motivated explanation of the reason for the refusal.
If any of the banks fails to respond within 15 working days from the date the application was submitted, this will be considered an implicit refusal, in accordance with the principle of negative administrative silence.
Additional documentation required by law
In addition to the three bank refusals, the applicant must provide a criminal record certificate issued within the last three months. If the applicant is a company, association or legal entity, the same certificate must also be provided for the members of the statutory administrative body, or the persons responsible for the effective and daily management of the entity.
This verification process aims to enable both the State and financial institutions to assess the risk of money laundering, fraud, or terrorist financing, in line with Belgian and European financial risk prevention legislation.
Bank designation: role of the SPF FINANCES
Once all documentation is complete and the legal conditions are fulfilled, the application file is submitted to the Federal Public Service Finance (SPF FINANCES), which serves as the competent authority for the mandatory designation of a bank. The Royal Decree of 10 October 2006 sets out the practical procedures for this assignment. The file is examined, and one of the authorized financial institutions in Belgium is designated to provide the basic banking services.
Which banks provide basic banking services in Belgium?
The SPF FINANCES has formally recognized the following banks as official providers of this type of account. A total of six banks have been identified as potential providers of basic banking services:
These institutions are legally obliged to accept the assigned clients unless there is a legally justified reason to refuse the account opening, such as indications of illegal activities, fraud, or abuse of the banking system. The entire procedure may take between 4 and 8 weeks, depending on the availability of the assigned bank, how quickly the required documentation is submitted, and the processing time of the SPF FINANCES.
❗Common mistakes that prevent access to the basic banking service
To avoid delays or refusals, applicants should take care to avoid the following common mistakes:
- Submitting unsigned or undated refusal letters.
- Applying through informal channels (by phone or without proof of delivery).
- Failing to obtain at least three valid refusals.
- Failing to translate documents issued in foreign languages that are not official in Belgium (Dutch, French or German).
Right to appeal in case of refusal of the basic banking service in Belgium
The right to open a basic banking account in Belgium is not absolute. Designated financial institutions may lawfully refuse to open such an account under exceptional and justified circumstances, including:
- Unverified identity or insufficient documentation.
- Criminal convictions related to fraud or money laundering.
- High risk of terrorist financing.
- Misuse of previous accounts (e.g. repeated defaults, fraud, or suspicious transactions).
However, when a refusal is unjustified, arbitrary, or lacks adequate reasoning, the applicant is entitled to initiate legal remedies. Below are the steps to take to challenge a refusal and defend your right to access the Belgian banking system.
1. Complaint to the financial mediation service (Ombudsfin)
Ombudsfin is an independent body created to resolve disputes between banks and consumers in Belgium. You can submit a complaint if:
- The bank’s refusal was insufficiently justified.
- The bank violated its legal obligation to offer the basic banking service.
- The bank did not respond within the legal deadline without justification.
Complaints must be submitted within 12 months of the refusal.
2. Complaint to the financial services and markets authority (FSMA)
If you believe the bank engaged in abusive or discriminatory practices, you may also contact the FSMA, the Belgian regulator that oversees the financial sector. The FSMA has the power to:
- Investigate the bank’s conduct.
- Impose sanctions for regulatory breaches.
- Issue recommendations to prevent future unjust exclusions from basic banking access.
3. Civil action before belgian courts
In persistent or severe cases, you may file a civil lawsuit before the Belgian courts of first instance, based on violation of your right to financial inclusion, lack of proper justification, contrary to the principle of good faith in contractual matters, and potential discrimination, particularly if linked to nationality, origin, social status, or financial situation.
💡 Professional tip: Before initiating any legal action, it is highly recommended to request a detailed written explanation of the bank’s refusal, keep all correspondence and documents related to the application, and consult a banking law expert to assess the case and prepare a strong appeal.
If you need assistance with drafting a complaint, assessing the validity of bank refusals, or defending your right to access basic financial services in Belgium, our legal team specializing in banking law is here to support you.
Cost and conditions for accessing basic financial services in Belgium
Access to a basic bank account in Belgium is not only guaranteed by law, but also designed to be economically accessible. Belgian legislation has established a regulated pricing framework that prevents financial institutions from imposing abusive fees on applicants of the basic banking service. This regulation is grounded in the principle of financial inclusion, as set out in the Law of 24 March 2003, which protects both individuals and legal entities excluded from the traditional banking system.
Legally capped annual fee: guaranteed affordability
The cost of a basic bank account in Belgium is low and fixed. The maximum annual fee is set by federal authorities, particularly the Federal Public Service (FPS) Economy, in collaboration with FPS Finance.
As of 2025, the maximum annual fee allowed for a basic banking service account is €18.25 (indicative amount, subject to annual indexation).
This symbolic flat fee includes access to essential banking operations:
- Account opening and maintenance.
- Standard euro transfers within the EEA.
- Use of a basic debit card.
- Setting up direct debits.
- Access to online banking and account monitoring.
- A limited number of free transactions per year (depending on the bank).
This price cap ensures financial non-discrimination, promoting effective access to minimum financial services, even for those in vulnerable or precarious situations.
Additional fees for non-basic services
While the basic package is protected by the capped annual fee, banks may charge extra for optional or non-core services. These services fall outside the scope of the legal basic banking package.
| Additional service | Possible fee (estimate) |
|---|---|
| Second debit card | €5 – €15 per year |
| Urgent or non-EEA international transfers | €5 – €20 per transaction |
| Paper account statements by mail | €1 – €3 per delivery |
| ATM withdrawals outside the EEA | Variable commission (fixed + %) |
| Card replacement due to loss | €5 – €10 |
Each of these fees must be clearly disclosed in the bank’s official tariff sheet, in accordance with consumer protection and transparency principles.
Price transparency and customer rights
Banks offering basic banking services in Belgium are legally obliged to ensure full price transparency. This means that all fees must be clearly displayed, easy to understand, and accessible through various channels such as websites, brochures, or in-branch information. Customers must be informed in advance of any charges not included in the annual flat fee, and banks are required to provide a clear explanation of these costs while also offering affordable or free alternatives for managing the account and carrying out standard banking operations.
Reasons why a basic banking services account can be suspended or closed
Although the basic banking services account in Belgium is granted as a guaranteed right, this right is neither indefinite nor absolute. There are legal situations in which the bank may justifiably suspend or close the basic account.
Main reasons for suspension or legal closure of the account
- Obtaining a second bank account in Belgium: If the account holder opens another standard or commercial current account, they automatically lose the right to maintain the basic account.
- Change of residency status: If the beneficiary loses legal residence in Belgium or transfers their tax domicile outside the country, the bank may terminate the contract.
- Fraudulent or suspicious behavior: Involvement in illegal activities (money laundering, terrorism financing, fraud, document forgery). Abusive use of the account (suspicious transfers, identity theft, etc.).
- Lack of cooperation with the bank: If the customer refuses to provide identification documentation or does not respond to requests for data updates (in accordance with Belgian AML/KYC law).
- Prolonged inactivity: Some banks provide for closing accounts that have no activity for more than 12 months, after prior notice to the account holder.
Is the bank required to notify the closure?
Yes. Any suspension or closure of the basic account must be notified in writing, with a clear indication of the legal reasons and the effective date of closure. Furthermore, the account holder may appeal the decision if they believe it was made abusively or unlawfully.
Practical cases or real examples
Below are two common scenarios in which the right to a basic banking services account can be exercised, in accordance with the current legal criteria.
Case 1: Foreign worker rejected by several banks
A French national legally residing in Belgium with a residence permit as a worker. After applying for a bank account at four banks, all deny the account opening without clear explanations.
We gather denial letters from three of them and submit an application for a basic banking services account to the SPF Finances, which assigns a bank. The bank cannot refuse without serious justification, and the person obtains their bank account.
Case 2: Company denied by its usual bank
A company registered in the Banque-Carrefour des Entreprises (BCE). Its traditional bank unilaterally cancels its account after reclassifying it as a “high-risk” client due to frequent payments from foreign platforms.
The company cannot get another bank to open an account, and its professional activities are paralyzed. By meeting the requirements of Article 3.1 of the law (company registered in Belgium), it can demand a basic services account for its activity. The assigned bank must allow essential operations, such as payments and direct debits.
Social and economic impact of banking exclusion in Belgium for businesses and individuals
Banking exclusion is an issue affecting both individuals and businesses in Belgium, limiting their access to essential basic financial services necessary for everyday life and economic activity. For businesses, this compromises their ability to operate, process payments and collections, manage payrolls, and meet tax obligations, putting their viability and competitiveness at risk.
At Arthur & Marin, we have a team of lawyers specialized in banking, financial law, international trade law and corporate law, dedicated to supporting both individuals and companies in obtaining and defending access to basic banking services. We provide advice and handle the entire process, from preparing the application to resolution, ensuring an efficient procedure compliant with current legislation.
Contact us for personalized legal advice and tailored solutions at info@arthurmarin.com or +32 465 345 345.
