| What is the local currency? |
| The euro (eur) |
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| What denominations does it come in? |
- Notes (euros): 5, 10, 20, 50, 100, 200 and 500
- Coins (euros): 1 and 2
- Coins (cents): 1, 2, 5, 10, 20 and 50
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| What is the best way to exchange currency? |
| Try foreign exchange offices. Many are open on Sundays. |
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| What are commonly-used forms of payment for everyday purchases (such as groceries)? |
- Cash
- Cash cards (Proton cards)
- Debit cards (Mister Cash/Bancontact)
- Credit cards (Visa, Eurocard, Diners Club, American Express)
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| Will I be able to use my credit card around town? If not, list when I’ll need cash. |
| While major credit cards are very popular, there are still many places in Brussels that do not accept credit cards. Since you can never be too sure which places these are, be sure to carry at least a small amount of cash at all times. For quick withdrawals, a bank will usually have an ATM machine. |
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| By what method are bills (such as rent and utilities) paid? |
Pre-authorized debit is an efficient way of paying gas, water and electricity bills. By this method, your bills are automatically deducted from your bank account. The various utility companies can help you with the arrangements.
Additionally, a bank transfer/payment slip (red and white) - found at the bottom of almost all Belgian bills - is filled in, signed and handed in at your bank before the due date of the bill. |
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| What are the requirements for opening a bank account? At what stage of the settling-in process should I open it? |
| You'll need a passport and a work contract. A bank account can be opened at any stage, but the sooner the better. You do not need a permanent address in order to open an account. |
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| Will foreign residents be able to find banking services in their native languages? |
Yes. Some useful links are listed below. Some banks even offer:
- preparation of a credit card before arrival of the expat (ready for use)
- preparation of a cash/debit card before arrival (also ready for immediate use, but limited)
- an expat contact center (telephone service from early morning to late evening and on Saturdays)
- personal tax check
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| Are there any restrictions on services for those who are new to your country? |
| No restrictions that are known. |
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| What are typical banking hours? |
Monday through Friday, 9am until 3:30pm (sometimes 4pm).
Several banks close for lunch. They are also closed on Saturdays, Sundays and holidays. |
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| Are automatic teller machines (ATMs) available around the clock? |
| Yes. |
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| Is there any other money information that might help me? |
The most common card in Belgium is the Mister Cash/Bancontact card, which is a card linked to your current bank account. This card is accepted at department stores, supermarkets, gas stations and restaurants. The Mister Cash/Bancontact is a good complement to other cards as there are many places in Belgium that do not accept credit/debit cards.
The Proton card is used as a rechargeable electronic purse and may be used to pay for items such as newspapers and cigarettes, as well as items in the supermarket or bakery. It can also be used to pay for gas and parking. The card is recharged via a cash dispenser using a four-digit PIN code. You can load the card with up to 1240 euros, which are taken from you current bank account. |
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| Useful Links |
KBC Bank
www.kbc.be/
ING Belgium Bank
www.ing.be
Fortis - financial services
www.fortis.be |