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How to Open a Bank Account in Luxembourg (Full Guide – BGL, ING, BCEE, Raiffeisen)

Opening a bank account in Luxembourg is a standard administrative procedure. The process is similar across most financial institutions, including BGL BNP Paribas, ING Luxembourg, BCEE (Spuerkeess), and Raiffeisen. The information below explains required documents, steps, processing times, and general conditions.

1. Required Documents

Most banks request the following documents during account creation:

• Valid passport or national ID
• Proof of address (rental agreement, recent utility bill, or residence certificate)
• Employment contract or employer certificate
• Recent payslip (if applicable)
• Tax identification number (if available)
• Residence permit for non-EU residents
• Some banks may request additional documents depending on the applicant’s profile.

2. Account Opening Procedure

Step 1: Choose a Bank
Individuals may select a bank based on fees, digital services, language support, and product offerings.

Step 2: Schedule an Appointment
Banks usually require an appointment, which can be booked online or by phone.

Step 3: Provide Documents at the Meeting
During the appointment, a representative will review your documents, verify your identity, and ask about the intended use of the account (salary, savings, daily banking, etc.).

Step 4: Sign Account Agreements
Once approved, you will sign the necessary forms, including KYC (Know Your Customer) and AML (Anti-Money Laundering) declarations.

Step 5: Initial Deposit
Some banks may request an initial deposit (often between €50 and €100), although this is not mandatory everywhere.

Step 6: Card Issuance
Debit or credit cards are typically issued within 3–8 working days and sent to your home address or collected at the branch.

3. Standard Timeline

• Appointment availability: 1–3 days
• Account validation: same day to 48 hours
• Bank card delivery: 3–8 working days
• Processing times may vary based on workload and profile verification.

4. Fees and Conditions

Common fees include:

• Account maintenance: €2–€7 per month
• Debit card fee: €2–€5 per month
• Credit card annual fee: €18–€36
• ATM withdrawals abroad may incur small charges
• Fee structures differ by bank and account type.

5. Cross-Border Workers (Frontaliers)

Non-residents working in Luxembourg can open a bank account by providing:

• Identity document
• Proof of employment in Luxembourg
• Proof of residence abroad
• Some banks are more adapted to cross-border clients.

6. Online Account Opening

Several banks provide partial or full online account opening processes. Applicants may upload documents digitally before visiting the branch.

7. Conclusion

Opening a bank account in Luxembourg follows a clear administrative process that is largely consistent across all major banks. By preparing the required documents, scheduling an appointment, and following the standard verification steps, most applicants can complete the procedure within a few days. Fees, timelines, and account features may vary by institution, so it is advisable to compare options and select the bank that aligns best with your personal or professional needs.

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Frequently Asked Questions (FAQ)