What we do
for Diamond Companies

The basic banking service is a current account with a debit card with which you can perform the following transactions:

• deposit money
• withdraw money
• make transfers
• make ongoing payment orders
• perform direct debits
• pay with a payment card or similar means

You can only perform these transactions if there is sufficient money in your account. Your account cannot have a negative balance. These operations can be performed via the counter and via the internet platform of the basic banking service provider. 

1. The company completes an application online via the website of the basic banking service chamber, The link is available via de website of AWDC (the company can also file an application on paper for example for individuals that don’t have a Belgian ID card and cannot log in via Itsme). The online application form will ask you to upload the following items or submit information to approve the admissibility of your application:

Proof that shows that your company was refused a payment service by a Belgian credit institution at least 3 times (termination of an account is also eligible as additional exhibit);

Declaration on honour that your company does not already have a basic banking service or payment account with a Belgian or EU-based credit institution (payment institutions or credit institutions located outside the EU do not fall under this);

Name of applicant company, legal form, address of the registered office, company number or proof of registration with the Crosspoint Bank for Companies, name and capacity of the representatives, contact details, and the needs of your company in the area of banking services (e.g. USD); Note that a EUR account is part of the standard package of the Basic banking law and a USD account can be provided on request. So a company does not have to file two separate requests for a EUR and USD account.

2. First, the application must be declared admissible by the basic banking service Chamber. No deadline has been set for this, but a reasonable period must be determined.

3. After that, the basic banking service Chamber will submit the file to the Financial Intelligence Unit (FIU) for a mandatory opinion. The FIU must provide its advice within a maximum period of 60 days.

4. If that opinion is obtained, the file shall be considered complete and the basic banking service chamber shall take a decision on the designation of a basic banking service provider no later than within the month following the month that the file is considered complete.

5. After the internal decision on the designation, the basic banking service chamber will inform the company thereof by registered letter and request the risk-mitigating measures from the company before it informs the basic banking service provider of the decision by registered letter. In the request to the company, the basic banking service chamber will include within what period the company must submit the documentation.

6. Once the applicant company has submitted all documentation in the context of the risk-mitigating measures (the basic banking service chamber does not perform a substantive check of this documentation and transfers this to the basic banking service provider), the basic banking service provider will be informed of the decision of the basic banking service chamber by registered mail. After this registered letter, the basic banking service provider has 10 working days to provide the basic banking service and will contact the applicant itself. If the basic banking service provider cannot provide the basic banking service within the ten working day period due to the obligations under the Anti-Money Laundering Act, the basic banking service provider shall inform the company and the basic banking service chamber, in writing. If the basic banking service provider does not provide the basic banking service, the basic banking service provider shall inform the company and the basic banking service chamber of this decision, in writing.

The credit institutions located in Belgium that according to the National Bank of Belgium are systemically relevant credit institutions, provide the basic banking service. The list of systemically relevant credit institutions is updated annually and published on the website of the National Bank of Belgium.

In 2023, following banks will be eligible as providers of the basic banking service:

• BNP Paribas Fortis
• KBC Group
• Belfius Bank
• ING Belgium
• Argenta
• Axa Bank Belgium

Any company located in Belgium that is registered in the Crossroads Bank for Enterprises or is in the process of applying for a registration. 

The term ‘company’ means:

• any natural person who independently exercises a professional activity (e.g. a sole proprietorship, a director of a company, an artist);
• any legal entity (any company, non-profit organisation or foundation);
• any other organisation without legal personality (e.g. a partnership).

Three different Belgian credit institutions (bank office, head office, ..) must also have refused to offer the company a minimum payment service. This refusal must be explicitly written and sufficiently substantiated (unless the substantiation would be contrary to the Belgian Anti-Money Laundering Act) at the request of the company and is given no later than within 10 working days after receipt of the application. AWDC provides template letters available on the website of AWDC which you can use to request a bank account and advises to send these letters by registered post. The law provides no time limit on the date of the refusal letter by the bank (thus the refusal letter does not have to be recent).