In Belgium, companies must have a business account if they are a corporation. For sole proprietorships, this is not mandatory, but it is strongly recommended.
As a sole proprietorship, you can choose to simply open a separate account, but you can also choose to open a ‘professional account’. This is not an additional private account, but an account that you open in the name of your business.
Starting out? Be sure to check out the extra benefits
Some banks offer discounts and benefits with their business accounts. It may be worthwhile to compare these as well.
- KBC: up to €1,000 in benefits with the KBC Boostpack
- ING: up to €1,200 in benefits with the Starters Package
- Belfius: up to €700 in benefits with the Starterspack
What is the best bank for a business account?
You should also compare the price, ease of use, and any additional costs. These are shown in the overview table below.
KBC (Business PRO)
- Costs: €51 per year for the basic account without a credit card. With a Mastercard Business, it costs €66 per year. The first debit card is free, additional debit cards cost €9/year.
- Included: a professional current account with a free private account (KBC-Twin), a KBC Business debit card and an unlimited number of transactions (manual or electronic). Access to online banking through KBC Touch and the KBC Mobile app is included.
Crelan
- Costs: €54 per year without a credit card, €72 per year with a Visa Business credit card. Two debit cards are included.
- Included: free Crelan current account, debit card, second debit card for joint account holder or proxy, cash withdrawals in euros at the counter and one replacement debit card per year in case of loss or theft.
BNP Paribas Fortis
- Costs: €33.75 per year for Pack Essential Pro, €112.50 per year for Pack Flex Pro.
- Included: The cheaper package includes 1 current account, 1 debit card, and 1 free Mastercard Business Premium. The more expensive package includes 1 to 2 current accounts, up to 3 bank cards, a (free) Mastercard Business Premium, unlimited access to Cofin ordering and mobile apps, plus 15 free transactions per quarter. You pay more for additional transactions and cards, but you do get a professional package with advice.
Hello Bank! (sole proprietorships only)
- Costs: €0 per year
- Included: As a sole proprietor, you can open a free business account with Hello bank! This basic package offers a Bancontact-Mastercard debit card and all payments/receipts in euros are free of charge. The Hello Pro account is fully online, with an app and Easy Banking, and allows contactless payments through Apple/Google Pay and Payconiq.
Belfius
- Costs: Belfius offers three options. Business Account costs €42 per year, Business Pack costs €54 per year, and Business Pack Plus costs €90 per year. With Belfius, a Pack is more affordable than individual products.
- Included:
- Business Account: €3.50 per month (excl. VAT). This is the most basic business account available at Belfius, with one current account and access to Belfius Direct Net (app/online banking).
- Business Pack: €4.25 per month (+ €0.17 VAT). This includes: 1 debit card, mobile banking (app), free urgent transfers (instant payments and urgent SEPA) and a 50% discount on electronic CODA lists. So you get more standard features for a small additional fee.
- Business Pack Plus: €7.50 per month (excl. VAT, + €0.17 or +€0.82 VAT depending on the card). This package includes everything in the Business Pack plus a credit card or prepaid card, and a 75% discount on CODA.
ING Belgium
- Costs: For sole proprietorships, the cost is €96 per year. For corporations, the cost is €150 per year. The first year is free in both cases.
- Included: ING packages include at least one current account, a debit card, and online banking. Additional costs apply for debits, credits, or counter transactions.
Alternative (international) banks and fintech
You can also opt for an international or online bank. These are gaining popularity due to their attractive rates. As a self-employed person, however, you may quickly encounter some limitations. For example, some banks give you a foreign IBAN and you cannot use structured messages, which you need to pay your social security contributions, for example.
Aion Bank
- Costs:
- Basic Business (basic membership): €108 per year
- Premium Business: €468 per year (3 months for free)
- Included: The first package offers a euro current account with accompanying multi-currency debit card, free daily banking (including transfers), currency exchange at interbank rates, and free cash withdrawals worldwide. The accompanying app has functions for invoicing, expense management, and VAT estimation assistance. The more expensive package has more limits and services (USD/GBP/CHF/… accounts), additional tools, IBANs in 5 currencies, etc.
N26
- Costs: from €0 to €202.80 per year, with cashback between 0.1% and 0.5% when paying with Mastercard
- Included: N26 is a French/German neobank aimed at freelancers in the EU. They offer four packages. The free package includes 0.1% cashback and a virtual debit card. With the second package (N26 Business Smart: €4.90 per month), you get a physical Mastercard debit card and all your expenses are automatically categorized.
Revolut Business
- Costs: The basic plan starts at €120 per year.
- Included: This plan gives you local and global bank accounts (in 25+ countries) and allows you to send, receive, and exchange money in more than 35 currencies. You can add unlimited team members and issue both physical and virtual payment cards. You can also accept online and face-to-face payments (e.g., via QR codes). There are higher payment plans (Grow €30/month, Scale €90/month) that offer larger exchange credits and more free transfers.
Wise
- Costs: €50 setup fee, then free. Wise Business does not charge a fixed monthly fee. You only pay per transaction or service.
- Included: Multi-currency account (hold and receive money in >40 currencies); free EU IBAN in EUR, UK IBAN in GBP, etc. A Wise debit card (Mastercard) is available for payments worldwide. Transfers are made at realistic exchange rates (mid-market) with low, transparent fees.
Which business account is best?
Depending on your situation as a self-employed person, there are several good choices:
- Sole proprietorships: Consider free or low-cost (online) accounts. The Hello Bank! Pro current account (BNP) is completely free and perfect for sole proprietorships. International neobanks such as N26 or Wise/Revolut can also be attractive for those who make a lot of online payments or currency exchange transactions. These packages offer low costs and modern apps, but do not have physical locations.
- Corporations: Traditional banks often are a better fit for corporations. They offer advice and support through offices, multiple cards/users, and often additional services (such as affordable loans or complex accounting links). These accounts cost a bit more, but offer robust service and integrations for businesses.
Compare business accounts
This table provides an overview of the key features of the banks discussed here, along with the main costs. This allows you to see which categories are most important to you.
| KBC Business Pro | Crelan | BNP Paribas Fortis | Hello Bank! (sole proprietorships only) | Belfius | ING | Aion bank | N26 | Revolut | Wise | |
|---|---|---|---|---|---|---|---|---|---|---|
| Annual costs | €51 | €54 | €30 | €0 | €42 – €90 | €96 (sole proprietorships) €150 (corporations) | €108 – €468 | €0 – €202.80 | €120 | €0 |
| Physical card | ✅ | ✅ | ✅ | ✅ | Depending on package | ✅ | ✅ | ✅ | ✅ | ✅ |
| Virtual card(Apple Pay & Google Pay) | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ |
| Belgian IBAN | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | 🚫 | ✅ | ✅ |
| Card usage fees | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 |
| International payments | €25.40 | ± €15 ‑ 20 | €4.54 – €6.05 | ± €6 | €6 | €15 ‑ 20 | €0 fixed costs | €0 – €3 | Within limit €0, outside limit ± €5 | €0.47 + % per transfer (transparent, depending on currency) |
| Costs for payments in foreign currency | 1.94% exchange margin | 1.50% exchange margin | 1.21% + 1.90% commission | 3% exchange margin | 1.50% | 1.60% | 0% markup (interbank rate) | 0.70% | 0% weekdays 1% weekends | From 0.33% |
| Cash withdrawals in the SEPA zone | own ATM free, other ± €0.50 | own free, other ± €0.50 | own free, other ± €0.50 – €0.75 | own free, other ± €0.50 | own free, other ± €0.60 | own free, other ± €0.50 | depending on plan | free with limitations, afterwards €2 | free up to €200/month, then 2% (min. €1) | 2 free up to €200, then €0.50 + 1.75% |
| Deposit guarantee | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | Only with a fully licensed EU bank account | 🚫 |
| Website available in English | ✅ | 🚫 | ✅ | 🚫 | 🚫 | ✅ | ✅ | ✅ | ✅ | ✅ |
