From 1832 to 2002, the Belgian franc was the currency of Belgium. Since the introduction of the euro (EUR) in 2002, it has become the official currency of Belgium. The euro is divided into 100 cents.
If you wish to send money to someone’s bank account in Belgium, you’ll need the recipient’s complete name, his or her account number, the name of the bank, the Rekeningnummer, the SWIFT/BIC code, and the IBAN.
Here are SWIFT codes of some popular banks in Belgium.
|Aareal Bank AG||Brussels||AARBBEB1XXX|
|ING Belgium NV/SA||Brussels||BBRUBEBB010|
|The Bank of New York Mellon||Brussels||BNYMBEBBXXX|
Nicolas had moved to Australia for work, while his ageing parents continued to live in Belgium. They had been financially dependent on him for some time, so he needed to send them money every month. For the first couple of months he used the services of a popular Australian bank. In the third month, upon the advice of a co-worker, he compared his options. The table below indicates what he found.
|BANK||MONEY TRANSFER SERVICE|
|Exchange rate||AU $1 = EUR 0.6028||AU $1 = EUR 0.6367|
|Transfer fee||AU $25||AU $0|
|Amount received for AU $5,000||EUR 2,998.93||EUR 3,183.50|
|Transfer time||2 to 5 days||2 to 3 days|
|Transfer options||Bank account||Bank account|
|Difference of||EUR 184.57|
Nicolas was going to send AU $5,000 each month, and by choosing the money transfer company over his bank, his parents ended up getting a little extra money every time. Besides, the money transfer company let him schedule his transfers and even lock in exchange rates for up to six months.
Sending money to a cash pickup location usually takes precedence if time is of the essence. Fortunately, popular money transfer companies such as Western Union, Ria, and MoneyGram have a presence in Belgium.
|RIA IN BELGIUM|
|Antwerp Ria Oudemansstraat 30 Antwerpen||Travel India BVBA Appelmansstraat 26 Antwerpen|
|Brussels Ria Rue Veeweyde 7 Brussels||Ria Boulevard Anspach 42 Brussels|
|MONEYGRAM IN BELGIUM|
|Antwerp Ishtar Sint-Elisabethstraat 52 Antwerpen||Cardland Offerandestraat 100 Antwerpen|
|Brussells Casa Emil Rue Willems 13 Boite A Brussels||Money International Chaussee De Gand 100 Molenbeek-Saint-Jean Brussels|
Instances of petty crime in Belgium are on the rise, so it is best that you exercise some caution when picking up cash from physical locations.
Do not carry large amounts of cash when you go out, and keep only the cards you need. Avoid carrying your cards, money, and travel documents in the same bag. When possible, leave valuables such as jewelry in the safe of your hotel.
Remain cautious if you are out late at night, and be vigilant on public transport and train stations. Instances of mugging and robbing are not uncommon around the Gare du Nord and Schuman (the EU quarter) and the Brussels Gare du Midi/Zuidstation (Eurostar terminal). Keep an eye out for pickpockets on international trains as well.
Don’t keep valuables in your car in plain sight even when you are in it, and keep its doors and windows secured. This is because motorcycle borne thieves try to break windows and steal valuables when vehicles come to a halt at traffic signals.
The information you need to provide depends on the chosen transfer method.
The Belgian Financial Intelligence Processing Unit (CTIF-CFI) is responsible for processing and forwarding information to combat money laundering. Transactions of EUR 10,000 or more – whether in a single operation or through multiple operations that appear to be linked – typically come under the scanner.
If you transfer money to Belgium from a country that is part of the SEPA, it is treated as a domestic transfer and no additional charges apply.