Revolut Belgium: what the BE IBAN changes, and what it doesn't

Yes, Revolut's Belgian IBAN changes everyday banking: employers, direct debits and energy suppliers accept it without argument, and the current account no longer has to be reported to the National Bank of Belgium. No, it does not make Revolut a Belgian bank. Deposit protection remains Lithuanian, and the brokerage account is still a foreign account.

Has Revolut become a Belgian bank?

No. Revolut Bank UAB is a Lithuanian bank, licensed by the European Central Bank and supervised by the Bank of Lithuania. Since 2025 it has served you from a Brussels branch registered under number 0784.549.658, which the National Bank of Belgium (BNB) and the FSMA, the Belgian financial markets authority, oversee for its conduct towards Belgian customers. The contract, the money and the bank's soundness remain Lithuanian.

What does the Belgian IBAN change day to day?

Announced on 8 April 2025, the BE IBAN has been issued to new customers since 1 May 2025, and the 700,000 Belgian customers Revolut claimed at the time were migrated in waves. It changes three things, all practical. Employers pay salaries without asking questions, energy suppliers and telecom operators accept direct debits, and the Federal Public Service Finance (SPF Finances) can refund overpaid tax into the account.

With an LT IBAN, refusals were illegal but common. EU Regulation 260/2012 has required every payer and payee since 2014 to accept an account located in any SEPA country, and an employer demanding a BE IBAN breaches its Article 9. You still had to prove it to them.

The old number does not vanish overnight. According to its help page, Revolut still receives incoming transfers and runs existing direct debits on it, but the BE IBAN becomes the account's main identifier.

Is my money at Revolut protected by the Belgian fund?

No. The ceiling is identical, €100,000 per person and per bank, but the body that pays out is Lithuanian: Indėlių ir investicijų draudimas, the public deposit insurance institution in Vilnius.

This is the most commonly misunderstood point, and the press got it wrong too. Test-Achats, the Belgian consumer association, wrote on 28 April 2025 that Revolut would be subject to Belgian deposit guarantee rules. Revolut's savings terms in force since 1 August 2025 say the opposite in plain words, and every fee document the branch published in 2026 repeats it in the footer. The Guarantee Fund hosted by SPF Finances covers institutions licensed in Belgium; a branch of a European bank falls under the fund of its home country.

As long as Revolut stands, nothing changes for you. If it failed, compensation would go through a Lithuanian procedure, and the €100,000 ceiling would apply to all your holdings at Revolut Bank UAB, current account and savings added together.

Do I still have to report my Revolut account to the National Bank?

For the current account with a BE IBAN, no. For the brokerage account, yes.

An account held by a branch established in Belgium counts as a Belgian account for the Central Point of Contact (CPC) of the National Bank: the institution reports it itself. The brokerage account remains with a Lithuanian entity that has no Belgian branch, as Curvo pointed out on 16 July 2026. It is declared once to the National Bank's CPC, then mentioned in the tax return every year.

In principle, based on the National Bank's FAQ and Revolut's terms checked on 26 September 2026. For a transition year, SPF Finances has the final word in case of doubt.

Is interest on the Revolut savings account taxed?

Yes, at 30% from the first euro.

Instant Access Savings is a non-regulated savings account under Belgian rules. It qualifies neither for the €1,020 per person exemption in 2026 nor for the reduced 15% rate, both reserved for regulated accounts according to Wikifin, the FSMA's financial education site. Revolut withholds the précompte mobilier, Belgium's withholding tax on investment income, at source and pays interest net, every day, once it reaches one cent.

The base rate depends on the plan and tracks the ECB deposit facility rate; it is shown in the app and can change immediately. No loyalty bonus. The deposit cap is €100,000 in total, across all vaults, under the terms of 1 August 2025. The frequency of deposits, on the other hand, is not limited. At launch, in late August 2025, Econostrum reported 1.50% gross on Standard and 2.50% on Ultra.

A 2.50% gross rate gives 1.75% net. Against a regulated account kept below the exemption threshold, a taxed account must show 1.43 times the gross rate to break even, a calculation detailed in our comparison of term deposits and savings accounts.

How much does a Revolut account cost per year?

From €0 to €840 depending on the plan. Belgian branch fee schedule in force on 9 July 2026, checked on 26 September 2026, with three Belgian accounts alongside.

Standard costs nothing. Plus, at €47.88, already exceeds the KBC pay-per-use account with its card. And both Premium and Metal cost more than the most expensive package found on the Belgian market, Crelan Excellence Pack at €96 a year, as shown in our ten-year calculation of online versus branch banking.

Five withdrawals and €1,000 of exchange: the bill starts after that

Standard gives you 5 withdrawals or €200 per rolling month, whichever comes first. Beyond that, 2% of the amount, with a €1 minimum. A small €20 withdrawal on the sixth visit therefore costs €1, or 5% of the sum.

Currency exchange is free on weekdays up to €1,000 a month. Take €1,500 of dollar spending over one month, in fifteen payments of €100 made on a Tuesday or a Thursday: the first €1,000 goes through free, the next €500 bears 1%, so €5. The same basket paid with an Argenta debit card, at €0.60 per payment plus a 2% margin according to the fee list of 16 September 2026, comes to €39.

A €34 difference. On a single trip.

Weekends change the picture, and the timing is not what you might expect: Revolut adds 1% from Friday 5 pm to Sunday 6 pm New York time, which corresponds roughly to the period from Friday 11 pm to midnight on Monday in Brussels, so a restaurant bill paid in pounds on a Saturday evening costs 1% more than the same dinner on a Monday. The Argenta debit card, for its part, charges the same margin seven days a week, as detailed in our survey of debit and credit card fees.

Who can make it their main account?

Plenty of people, now that there is a Belgian IBAN. Before paying your salary into it, a few points are worth checking.

• The new BE IBAN, visible in the app, given to your employer and registered in MyMinfin for tax refunds.
• Direct debits still attached to the LT IBAN, to be moved one by one.
• The brokerage account, to be declared to the CPC even though the current account no longer is.
• The total amount held at Revolut, if savings approach €100,000: above that, nothing is covered, and the competent fund is Lithuanian.
• The complaints channel: no branch, an in-app chat, then Ombudsfin, named in the branch's terms.

This site compares fees and conditions; it provides no investment advice or personal recommendation. To see how Revolut compares with Belgian banks, our bank ranking lists annual costs institution by institution, and the bank comparison tool lets you put two offers side by side.

Sources

• Revolut, Obtenir un IBAN belge (Getting a Belgian IBAN): migration to the Belgian branch, LT IBAN kept for existing payments, plans and prices. Checked on 26 September 2026.
• Revolut, Personal fees (Standard): withdrawals, exchange limit, weekend surcharge, administration fee, version in force on 9 July 2026.
• Revolut, Instant Access Savings terms: non-regulated account, €100,000 cap, tax withheld at source, Lithuanian guarantee, Ombudsfin, version of 1 August 2025.
• La Libre (Belga), La néobanque Revolut va proposer des IBAN belges à partir du 1er mai: 700,000 Belgian customers, Belgian branch, 8 April 2025.
• Test-Achats, Revolut annonce des IBAN belges pour ses comptes: migration timetable and end-2025 target, 28 April 2025.
• Curvo, How to declare your Revolut account to the Belgian authorities: current account with a BE IBAN and brokerage account at Revolut Securities Europe UAB, 16 July 2026.
• Econostrum, Nouveau compte d'épargne Revolut : attention à ce piège fiscal: launch rates by plan, 26 August 2025.
• National Bank of Belgium, Central Point of Contact, questions from private individuals. Checked on 26 September 2026.
• SPF Finances, Guarantee Fund, frequently asked questions: €100,000 cover for institutions licensed in Belgium. Checked on 26 September 2026.
• Wikifin (FSMA), Comment sont taxés les intérêts sur votre compte d'épargne ?. Checked on 26 September 2026.
• EUR-Lex, Regulation (EU) No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro: Article 9, reachability of accounts within SEPA.
• Ombudsfin, Introduire une plainte (Lodge a complaint). Checked on 26 September 2026.