topics
tools
editor's choice

Culture and social etiquette in Luxembourg

Museums in Luxembourg

Banking in Luxembourg

Crime and the legal system in Luxembourg

User’s Guide: Getting around

Expatica countries
Index Last Var.(%)
BEL 20 2073.88 -0.35
DAX 6271.22 -0.60
IBEX 30 6566.7 0.44
CAC 40 3008 -0.13
FTSE 100 5267.62 -1.33
AEX 288.77 -0.50
DJIA 12369.38 -0.59
Nasdaq 2778.79 -1.24
FTSE MIB 13048.9 -0.31
TSX Composite 11280.64 -0.44
ASX 4098.8 -2.61
Hang seng 18951.85 -1.30
Straits Times 2779.1 -1.54
ISEQ 20 486.89 -0.50
You are here: Home Finance & Business Banking Editor's Guide: Banking in Luxembourg
Enlarge font Decrease font Text size


22/03/2011Editor's Guide: Banking in Luxembourg

Editor's Guide: Banking in Luxembourg Here's a short introduction to our Banking section for those living in Luxembourg.

If you're an expat, you'll probably want to open a bank account abroad. The paperwork associated with expat banking can be a hassle at first, but it often eliminates the fees associated with withdrawing cash from back home.
Overseas savings accounts also give you quick access to cash and a face-to-face relationship with local financial advisers who can help you with international mortgages and other loans. Different countries have different rules on foreigners' accounts, so check out "Banking in Luxembourg", "Why expats choose Luxembourg to manage their investments" and "Tax efficient savings in Luxembourg" to learn more.
Choosing a local bank
Before you open an expat bank account, make sure that you know who owns the bank, its credit worthiness and which jurisdiction it falls under. As one of our experts advises, “In light of recent turbulence in the banking sector, you need to know if your bank deposits are protected by any government scheme. Each jurisdiction has a different position on this, and offshore accounts in particular should be checked.” And, as our article "Depositors, beware!" points out, be sure to diversify your assets.

Keeping up-to-date
Expatica’s banking channel keeps you up-to-date with news from the financial world. Articles cover everything from the local and worldwide economic climate to mergers and acquisitions in the banking sector to the benefits of Islamic banking.

Ask the expert

Expert articles include the most cost-effective ways of transferring money abroad and choosing a bank. You can find expert tips in articles like "Expert tips: How to invest your money wisely" and "Expert tips: How to get a decent return on your savings". Make use of our Ask the Expert section to pose your questions on your specific needs as an expat. Questions answered by our experts include: “How can I open a bank account while I am in Europe?” and “What is an IBAN number and where can I get one?”


0 reactions to this article

0 reactions to this article

Inside Expatica
Visas, permits and citizenship in Luxembourg

Visas, permits and citizenship in Luxembourg

Since 2008, the work permit and the residence permit (for third country national workers) have been merged into a single permit, the Autorisation de séjour. Since 2009, dual or multiple citizenship has been permitted.

Buying or renting a house in Luxembourg

Buying or renting a house in Luxembourg

Whether you decide to buy or rent in the Grand Duchy, here is our short housing guide, including a look at some of the areas you might want to live in.

The healthcare system in Luxembourg

The healthcare system in Luxembourg

Whether it’s finding a doctor or figuring out how to fill your prescription, we give you the basics you need to stay healthy in Luxembourg.

Banking in Luxembourg

Banking in Luxembourg

Here is a list of some of the many banks based in Luxembourg.