Emerging borderless payment and digital banking solutions like Grey make international transactions quicker and safer than traditional banks. They also make it easy to open US, UK, and Euro bank accounts in Belgium, so freelancers, digital nomads, international students, and expats can now avoid the expensive currency conversion rates. This guide explains why you should consider opening multi-currency accounts and walks you through the process of getting started on Grey.

Read also: How non-US citizens can open a US bank account online.

Benefits of opening US, UK, and Euro bank accounts in Belgium

Holding multi-currency accounts while residing in Belgium provides a range of benefits tailored to your various financial needs:

Streamlined international transactions

Opening a US, UK, or Euro bank account simplifies international transactions, helping you avoid conversion fees and delays associated with local banks. This is especially useful for dealing with clients or services in multiple countries.

Lower currency conversion fees

Managing payments in USD, GBP, and EUR eliminates the need for frequent currency conversions. You can send and receive money directly in these currencies, saving significantly on exchange rates and bank fees.

Increased financial stability

Holding funds in stable currencies such as USD and GBP offers financial security. While Euro is already the standard in Belgium, having US and UK accounts allows you to hedge against economic fluctuations worldwide.

Global platform integration

US and UK accounts are easier to integrate with Stripe, PayPal, and other e-commerce platforms. Having these accounts linked makes it easier to receive payments or manage subscriptions without restrictions.

Convenience for students and expats

International students and expats can benefit from paying tuition, rent, and other living expenses directly in foreign currencies. This eliminates the hassle of conversion fees and allows for smooth cross-border payments.

Travel flexibility

Frequent travellers benefit from holding multi-currency accounts, which make it easier to book flights, pay for accommodations, and manage other travel expenses in their respective currencies without incurring exchange rate losses.

A step-by-step guide to opening US, UK, and Euro accounts in Belgium

With Grey, opening multi-currency accounts remotely from Belgium is straightforward. Follow these simple steps:

Step 1: Create an account on Grey

Start by visiting Grey’s official website or downloading the mobile app:

• Click on the “Get Started – it’s free” button.

• Select Belgium as your country of residence.
• Enter your personal details, including your full name, email address, and phone number.

Step 2: Set up a secure password

Choose a strong password that includes:

• A combination of uppercase and lowercase letters.
• At least one number and a special character.
• A minimum of eight characters in total.

Step 3: Verify your email

You will receive a One-Time Password (OTP) sent to your registered email. Enter the code to verify your email address.

Step 4: Complete identity verification (KYC)

To comply with financial regulations, you’ll need to verify your identity:

• Upload a valid ID: This can be a passport, driver’s license, or national ID card. Ensure the photo is clear and legible.
• Provide proof of address: Upload a recent utility bill, bank statement, or any official document showing your address.
• Take a selfie: Ensure good lighting and remove any accessories like hats or glasses for clarity.

Step 5: Wait for approval

Once you’ve submitted your documents, the verification process typically takes a few hours. However, if there are issues with the clarity or validity of your documents, it may take a few business days. Once approved, you’ll receive your account details and can start transacting immediately.

Who can benefit from US, UK, and Euro accounts in Belgium?

Freelancers and remote workers

Freelancers working with international clients often need to receive payments in different currencies. US and UK accounts allow for direct payments without hefty conversion fees, making it easier to manage projects across borders.

Digital nomads

Belgium is a growing destination for digital nomads. Multi-currency accounts enable seamless management of subscriptions, tools, and online services in different currencies, simplifying global operations.

Students and expats

International students can use these accounts to pay tuition and living expenses, while expats benefit from managing their finances in multiple currencies, avoiding high transaction fees.

Business owners

Entrepreneurs and business owners in Belgium can handle cross-border transactions more efficiently, ensuring smooth operations and faster payments from global clients.

Frequent travellers

Travellers benefit from using their multi-currency accounts to pay for international travel expenses without worrying about spending on exorbitant exchange rates.

Conclusion

Opening US, UK, and Euro bank accounts in Belgium gives you financial flexibility, streamlines your transactions and simplifies international payments. Whether you’re a freelancer, student, business owner, or traveller, having multi-currency accounts with Grey improves your banking experience.

Take advantage of this opportunity today — sign up on Grey and enjoy reliable banking across borders!

‍