bunq or Revolut: which to choose in Belgium?

Two popular neobanks, two opposite philosophies. Revolut plays versatility and the Belgian IBAN; bunq bets on organising money into sub-accounts. To choose in Belgium, the smart move isn't to crown "the best" in the abstract, but to pick the one whose trade-offs fit how you actually use a bank. Here's how I tell them apart.

bunq or Revolut: which one is right for you?

For a Belgian resident, Revolut is currently the easiest to live with day to day, especially now that it issues a Belgian IBAN. bunq keeps an edge as soon as you want to compartmentalise your money into sub-accounts and accept a paid plan. Both are licensed banks, with deposits guaranteed up to €100,000.

The nuance matters, because these two accounts don't target the same use. Revolut casts a wide net: real exchange rate, free card, travel, and now a Belgian IBAN that clears most domiciliation friction. bunq owns a more niche position around the "bank of the free": sub-accounts with a dedicated IBAN, spending categorisation, a sustainability angle. I've opened and used both accounts myself over the past few months; the difference shows less in the fees than in how each one makes you manage your money.

What are the differences between bunq and Revolut?

The gap comes down to four points: the IBAN type, the entry price, the exchange fees and the account logic (all-in-one with Revolut, sub-accounts with bunq). The rest — debit card, mobile app, contactless payment — is very similar.

Here are the entry-level terms, current as of summer 2026. Neobank pricing changes often: always check the current offer before opening an account.

In practice, for everyday use: if you want a free account that almost replaces a Belgian bank, Revolut is the more obvious pick. If you want to run a tight budget by splitting rent, groceries and holidays across separate sub-accounts, bunq is better equipped — but you pay for it.

bunq or Revolut: which has the better IBAN in Belgium?

On this specific point, Revolut has taken the lead. Since May 2025 it has issued a Belgian IBAN (BE prefix) to new accounts opened in Belgium. bunq stays on a Dutch IBAN (NL), possibly with other European IBANs depending on the plan.

Why does it matter? Because a foreign IBAN still runs into direct-debit refusals here. I've seen payments rejected by an energy supplier and a health fund because the IBAN started with DE or NL — technically banned by the SEPA regulation, but still common practice. A Belgian IBAN removes that friction for salary, direct debits and domestic transfers. With a Dutch bunq IBAN, plan to check case by case that your billers accept it.

Are your deposits guaranteed with bunq and Revolut?

Yes, in both cases, and it's a genuinely reassuring common point. bunq and Revolut hold a European banking licence: your deposits are guaranteed up to €100,000 per depositor, by the guarantee fund of their home country.

For bunq, that's the Dutch fund (bunq is supervised by the Dutch central bank). For Revolut, it's the Lithuanian fund, via its banking entity Revolut Bank UAB. The condition to know: the guarantee only applies if your money is held with the banking entity, not a plain payment service. That's the case for a standard current account with both. If in doubt about a provider's status, its licence can be checked with the FSMA and the National Bank of Belgium.

How much do bunq and Revolut really cost?

The real price difference is at the entry point: Revolut keeps a free Standard plan (IBAN, debit card, real exchange rate within a monthly limit), whereas bunq no longer has a permanent free tier and starts with a paid subscription, of the order of €3 per month depending on the plan.

So the real annual cost is zero on one side, about thirty euros on the other for bunq's entry tier — before even mentioning the premium plans, which climb to around fifteen euros a month on both sides. Watch the small print: the free caps (withdrawals, exchange) on the Revolut Standard plan, which fill up fast if you travel, and the bunq plan level needed to unlock multi-IBAN sub-accounts. Paying for bunq can make sense if you genuinely use its organisation tools; otherwise, Revolut's free plan is hard to beat.

Can you pay everywhere in Belgium with bunq or Revolut?

No, and it's the shared limit to know before opening: neither bunq nor Revolut supports Bancontact, the network used for about 85% of in-store card payments in Belgium. Their cards run on Mastercard or Visa.

In practice, most shops accept Mastercard and Visa, so you'll pay without trouble in supermarkets, restaurants or online internationally. But some Belgian terminals, parking machines, ticket dispensers or a few local e-commerce sites only accept Bancontact. That's why neither fully replaces a Belgian bank: I keep a Belgian card as a complement, precisely for those cases. Travelling with a single neobank, whichever it is, remains the real risk.

bunq or Revolut for which profile?

Start from how you use an account rather than a one-size verdict:

For a student or a first low-fee account, Revolut Standard is plenty. For a freelancer or a household that wants to ring-fence provisions (VAT, taxes, project savings), bunq's sub-accounts justify the subscription. Our quiz suggests a recommendation in two minutes based on your profile, and the comparator puts both offers side by side.

In short

Between bunq and Revolut, there's no universal winner, but two logics. Revolut is the more versatile and the easier to live with in Belgium since its Belgian IBAN of May 2025, with a solid free plan. bunq targets those who want to organise their money into sub-accounts and accept paying for it. Both are licensed banks with guaranteed deposits, neither supports Bancontact, and neither alone replaces a Belgian card. To go further, compare every offer line by line in our comparator, or read our guide to the best neobank for saving if saving is your priority.

Sources: National Bank of Belgium (deposit guarantee, Central Contact Point), FSMA (register of licensed institutions), SEPA Regulation (EU) No 260/2012, bunq and Revolut pricing terms consulted in July 2026.