Discovering Luxembourg

Money and Banking Banks Banks may charge for the products and services that they offer and fees vary between banks. Please ask your DSC for the current offers. Most banks operate their own network of ATM/cash dispensers, but you can withdraw cash from all ATMs for a small fee. The Luxembourg debit card system, known as Bancomat, allows card holders to make cash withdrawals. The majority of banking transactions can be carried out at an ATM machine or through internet banking. Your Dwellworks Consultant can provide information on banks that offer special deals. Bank Accounts A Luxembourgish bank account will be required to facilitate initial rental payments and entering into local service contracts (mobile phone, utilities, etc.), so it is a good idea to make this a priority. Some Luxembourg banks will allow customers to open an account before arriving in the country, permitting transfers into the account only. You will the need to present yourself in person to the bank upon arrival in order to transfer money out of the account. Exchange As a member of the European Union, Luxembourg uses the Euro as currency. It is important to discuss with your home country bank what the most efficient and cost-effective method of fund transfer will be. Payment Methods Debit Cards Whether Maestro, VPay or Bancomat, debit cards are most widely accepted in Luxembourg. Credit Cards Credit cards are an option for payment in many larger establishments, but often not in smaller stores or restaurants.

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Discovering Luxembourg