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What is the local currency?
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What denominations does it come in?
Notes (euros): 5, 10, 20, 50, 100, 200 and 500
Coins (cents): 1, 2, 5, 10, 20 and 50
Coins (euros): 1, 2
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What is the best way to exchange currency?
Most of the expats open a bank account as soon as they arrive in Luxembourg. During the very first days, expats withdraw cash or pay with a credit card.
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What are commonly-used forms of payment for everyday purchases (such as groceries)?

  • Debit cards

Payments in Luxembourg are often made with a debit card known as Bancomat or Maestro. This card is issued when opening a bank account and allows use of the bank's ATMs for a range of transactions. The basic card only allows cash withdrawal at the banks’ own ATMs or in their branches. Some banks charge for withdrawals made from other ATM networks.

  • Credit cards

Credit cards are used widely in Luxembourg. Both Visa and MasterCard are available through all banks. American Express cards are available in some banks or through their website.
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Will I be able to use my credit card around town? If not, list when I’ll need cash.
Restaurants, hotels and department stores generally accept all major credit cards. However, paying by credit card is less common in smaller shops. Instead, you'll need to pay by cash or bank card.
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By what method are bills (such as rent and utilities) paid?
Pre-authorized debit is an efficient way of paying bills for gas and electric utilities. With this method, your bills are automatically deducted from your bank account. The various utility companies can help with the arrangements.
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What are the requirements for opening a bank account? At what stage of the settling-in process should I open it?
A current account (compte à vue) may be opened in Luxembourg by 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. 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.
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Will foreign residents be able to find banking services in their native languages?
In Luxembourg, all services are provided in three languages (French, Luxembourger and German). Nonetheless, services in Italian, Spanish or Dutch can be easily found.
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Are there any restrictions on services for those who are new to your country?
No restrictions that are known.
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What are typical banking hours?
Monday - Friday: 8:30 a.m. – 4:30 p.m.
Most banks are closed on weekends and holidays, although some banks are open on Saturdays.
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Are automatic teller machines (ATMs) available around the clock?
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Is there any other money information that might help me?
Some debit cards have what is known as a mini-cash facility that can be used for making small payments. Customers without a debit card may apply for a separate mini-cash card. Cash cards can be loaded electronically at ATMs and can be used for paying parking fees, newspapers and most other everyday items. Mini-cash cards do not require a PIN code, so if the card is lost it may be used by anyone.
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Crown Relocations has made every effort to present accurate information. However, regulations, rates and other variables are subject to change and Crown Relocations cannot accept responsibility for the errors that might result. Should you have any questions or need additional information, please contact your local Crown representative.

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