Opening a Bank Account in Luxembourg

Understand what is required to open a bank account in Luxembourg...

A current account (compte à vue) may be opened in Luxembourg by both residents and non-residents. In general, the only documents required are a valid passport or identity card and proof of address. However, in order to use all the facilities that the bank has to offer, for example debit or credit cards, proof of income will also be required. Newcomers to Luxembourg should also provide a work contract or letter from their employer.

Some banks allow customers to open an account online, but the relevant documents will need to be sent by post to the bank.

Most banks provide different products for children, students and job-seekers, with lower, or no banking fees.

Savings accounts are offered by all banks. Interest rates vary from bank to bank. A tax, known as précompte mobilier, is paid on interest accumulated.