bunq in Belgium: review, credit card and fees

bunq stands out on one specific point in Belgium: it is one of the few neobanks offering a genuine Mastercard credit card, where Revolut and N26 only issue debit. The question is whether it justifies the monthly cost, and whether that card is much use in a country where local retail runs on Bancontact.

Quick verdict: bunq is handy for travel and car rentals thanks to its credit card, but it does not replace a Belgian account. The Dutch IBAN, the lack of Bancontact and the subscription from the first euro put it in the secondary-account category, especially for an expat keeping one foot in two countries.

Does bunq actually work in Belgium?

Yes. bunq is a Dutch mobile bank, licensed by the Dutch central bank (De Nederlandsche Bank), and available to Belgian residents through its app, in both French and Dutch. Opening an account takes a few minutes with a Belgian ID.

bunq is a European neobank founded in 2012 that operates with no branches, entirely through an app. In practice, you manage everything from your phone: account opening, cards, sub-accounts, transfers and spending categorisation.

The catch: bunq generally assigns a Dutch IBAN (NL prefix), not a Belgian one. EU Regulation 260/2012 forbids a creditor from refusing an IBAN from another SEPA country. In practice, some Belgian employers or health funds are still slow to accept a foreign IBAN for a direct debit. If you plan to have your salary paid in, check with payroll first.

Does bunq give a Belgian IBAN?

No, not at this stage. Revolut has assigned a Belgian IBAN (BE) to new accounts opened in Belgium since May 2025; bunq still issues a Dutch IBAN. To compare the two approaches, see our guide Revolut or N26 in Belgium.

Do you need to declare a bunq account to the tax office?

Yes. Any account opened with a foreign bank must be declared to the Central Point of Contact of the National Bank of Belgium and mentioned in your tax return (box XIV). The mechanism is detailed in our guide on the CPC register.

Does bunq offer a real credit card?

Yes, and that is its main distinctive feature. bunq is one of the few mainstream neobanks issuing a genuine Mastercard credit card, where Revolut and N26 only offer debit cards with systematic authorisation.

The bunq Credit Card is a Mastercard credit card with deferred payment, card freeze from the app and adjustable limits. It unlocks the situations where a debit card is often refused: car-rental deposits, hotel guarantees, online bookings abroad. On that ground, it plays in the same league as Belgian banks' Gold cards, but without a current account to open first.

A point worth noting: the credit card is not included in the free plan. bunq Free only gives a virtual card. For a physical card, you need at least a paid plan. Pro and Elite users can order a Metal Credit Card for a one-time 99 €.

How much does bunq cost in Belgium?

bunq works on a monthly subscription, from 0 to 18.99 € depending on the plan. The higher the plan, the more sub-accounts, cards and favourable withdrawals you unlock. Here is the 2026 line-up.

bunq has no account with a free physical card, unlike Revolut Standard or N26 Standard. That is the point that weighs most for a basic Belgian use case: paying a subscription for what others offer for free only makes sense if you actually use the credit card and the sub-accounts.

Is the bunq credit card accepted everywhere in Belgium?

No. In Belgium, a large share of shops only accept Bancontact, the local debit network, and refuse credit cards. This is especially true at small retailers, bakeries and some car parks. bunq does not support Bancontact.

What that means for you: the bunq credit card is handy for online purchases, travel and deposits, but it is not enough for daily life in Belgium. The bunq Mastercard debit card now works at most Belgian terminals since Mastercard widened debit acceptance, but it remains less universal than Bancontact.

In practice, keep an account at a Belgian bank for Bancontact, and use bunq as a complement. To understand what separates the two card families, see credit card vs debit card in Belgium.

Are bunq's exchange and withdrawal fees competitive?

It depends on the card. The bunq Credit Card advertises Zero FX outside the eurozone, which makes it attractive for travel. bunq debit cards, on the other hand, apply a 0.5% FX fee outside the eurozone, on all plans.

For cash withdrawals, bunq Free charges 2.99 € per ATM operation. Paid plans include a monthly quota of free or reduced-fee withdrawals, beyond which the fees return. Nothing exceptional: it sits in the upper average for neobanks.

The honest comparison: for small foreign-currency volumes, Revolut Standard (fee-free exchange up to 1,000 €/month) is cheaper than a paid bunq plan. bunq earns its place for the credit card itself, not for beating Revolut on exchange. Before a trip, compare your fees abroad card by card.

Are your bunq deposits protected in Belgium?

Yes. bunq holds a full Dutch banking licence. Your deposits are covered by the Dutch deposit guarantee scheme up to 100,000 € per depositor, the same ceiling as a Belgian bank.

That is reassuring compared with some fintechs that operate as electronic-money institutions, without a genuine deposit guarantee. bunq is a fully fledged bank, supervised by De Nederlandsche Bank.

The nuance: the guarantee is Dutch, not Belgian. In the event of failure, the Dutch fund would step in, with its own timelines. The level of protection is identical; the counter is simply abroad.

bunq, Revolut or N26: which to choose in Belgium?

The choice comes down to a single decisive criterion: do you need a real credit card?

If yes, for example to rent cars regularly, travel or block a deposit, bunq has an argument that Revolut and N26 do not: its Mastercard credit card. If not, and you mainly want a free account for exchange and payments, Revolut Standard or N26 Standard cover the need with no subscription.

bunq makes sense for a specific profile: an expat or frequent traveller in Belgium who rents cars and accepts paying a subscription for a credit card without opening a traditional bank account. For settled daily use in Brussels or Wallonia, a Belgian account plus a free Revolut works out cheaper and covers Bancontact.

Still undecided? Our neobank comparator lines up the offers active in Belgium, and the quiz points you in the right direction in two minutes.

Frequently asked questions

The answers to the most common questions about bunq in Belgium are in this page's frontmatter and display automatically below.