Which Neobank to Choose in Belgium? 2026 Comparison

Four neobanks compete for Belgian residents: Revolut, N26, bunq and Wise. All four offer a free (or nearly free) account, a Visa or Mastercard, and lower foreign exchange fees than traditional banks. The differences lie in the details, and those details matter when you live in Belgium.

This comparison covers the pricing, exchange fees, IBAN type and deposit security of each neobank using June 2026 data verified on the official sites of Revolut, N26, bunq and Wise.

How Much Does Each Neobank Cost Per Month?

All four offer a free plan, but features vary significantly between tiers.

Wise stands out by having no monthly plans at all. You pay €7 for the card upfront, then only conversion fees as you use it. In practice, this is the cheapest option for someone who travels rarely but makes regular international transfers.

N26 Standard includes a free virtual card, but the physical card costs €10. Revolut Standard includes the physical card at no extra cost. With bunq, the Free plan only gives you a virtual card; the physical card comes with Core at €3.99/month.

What Foreign Exchange Fees Do They Charge?

This is the decisive criterion for travellers and expats in Belgium.

N26 is the only one that charges zero exchange fees on card payments regardless of amount. A £3,000 purchase during a London trip costs exactly the same as the equivalent in euros. Revolut matches this, but with a €1,000 monthly cap on the Standard plan. Beyond that, 0.5% applies, and on weekends a 0.5–1% markup is added on volatile currencies.

One detail worth noting: Wise does not offer 0% fees. It applies the interbank rate (the "real" rate) plus a transparent commission of 0.33–0.57% depending on the currency. On a €500 transfer to US dollars, that comes to €1.65–2.85. It's transparent and cheaper than the 1.5–2% charged by traditional Belgian banks, but it's not free.

What IBAN Do You Get in Belgium?

The IBAN type determines how smoothly your neobank integrates into daily Belgian life.

Revolut has been issuing Belgian IBANs (BE) to all new accounts since May 2025, and migrated existing clients during 2025. Wise also provides a BE IBAN through Wise Europe SA, its entity registered in Belgium (NBB, BCE 0713629988). N26 still issues German IBANs (DE) and bunq Dutch IBANs (NL).

A foreign IBAN works for standard SEPA transfers, as regulation 260/2012 requires. But some Belgian employers, energy providers and public bodies still refuse non-Belgian IBANs for direct debits. In spring 2025, a test showed that Proximus and Engie accepted direct debits from a DE IBAN, but two smaller providers refused. With a BE IBAN, this problem disappears.

How Does Deposit Protection Work?

Revolut, N26 and bunq are licensed banks. Deposits are covered by the European deposit guarantee of €100,000 per person per bank: the Lithuanian fund for Revolut, BaFin (Entschädigungseinrichtung deutscher Banken) for N26, and De Nederlandsche Bank for bunq.

Wise is not a bank. It's an electronic money institution (EMI) authorised by the NBB. Client funds are "safeguarded" in partner banks, ring-fenced from Wise's balance sheet. But there is no formal deposit guarantee. In the event of insolvency, funds would take priority in liquidation proceedings, without the automatic protection of the banking guarantee scheme.

What this means for you: if you keep €500 on Wise for transfers, the risk is minimal. If you're considering storing €10,000 there, it's worth thinking through.

Should You Keep a Traditional Bank Account?

Yes, for most Belgian residents. The main reason: Bancontact. This debit payment network handled 1.9 billion transactions in 2024 according to Worldline. Parking garages, EV charging stations and some Belgian e-commerce sites require it.

Only bunq supports Bancontact (since 2023). Revolut, N26 and Wise don't offer it. A Belgian resident using only one of these three neobanks will find themselves stuck at the Carrefour car park or the Ionity charging station.

The most pragmatic advice: keep a current account with ING, KBC, Belfius or Argenta for Bancontact and direct debits, and use a neobank as a secondary account for travel, online shopping and international transfers. The dedicated guide on debit vs credit cards covers the differences in detail.

Which Neobank Suits Which Profile?

Revolut works for the broadest range of users. The Belgian IBAN, budgeting features, integrated trading and insurance from the Premium plan onwards make it the most versatile option. See the full Revolut Belgium review for details.

N26 is the pick for frequent travellers who regularly spend more than €1,000 in foreign currencies per month. The uncapped 0% exchange fee on card payments is unmatched. The German IBAN remains a friction point for daily Belgian life, and the Revolut vs N26 comparison covers the trade-offs.

Wise is built for people making regular international transfers. The real interbank rate, Belgian IBAN and no monthly subscription make it an ideal complement. It's not a bank, though, and the card includes no insurance. The Revolut vs Wise comparison goes deeper on this point.

bunq is the only neobank that can function as a primary account in Belgium thanks to Bancontact support. Its ecological positioning (trees planted per transaction) appeals to sustainability-minded users. Exchange fees of 0.5% are the highest of the four, and paid plans the most expensive.

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