Bank Account Set-Up Guide

BANKING IN LUXEMBOURG

Most banks operate their own network of ATM/cash dispensers. The Luxembourg debit card system, known as Bancomat, allows card holders to make cash withdrawals. Payments in stores are usually made in cash, or by debit or credit card. Major credit cards are usually accepted. Checks are not used for daily transactions. The majority of banking transactions can be carried out at an ATM machine or through Internet banking. Banks may charge for the products and services that they offer, and fees vary between banks. Personal accounts may be more expensive in Luxembourg than in other countries, for example the UK or USA, as banks charge separately for each service offered (such as debit and credit cards and Internet banking facilities). GETTING ORGANISED Organizing banking in Luxembourg is a straightforward process. To open your bank account in Luxembourg, it is necessary to make an appointment with any local bank of your choice. It is strongly recommended to have a Luxembourg bank account to facilitate initial rental payments and entering into local service contracts like telecom, utilities, insurance. This will help avoid extra bank charges for using your overseas card or credit card, and in certain situations possession of the local bank account is stipulated by law. OPENING A BANK ACCOUNT IN LUXEMBOURG There are several banks that you can choose to open an account with, including BIL (International Bank of Luxembourg), BGL BNP Paribas, ING, Spuerkees (Banque et Caisse d’Epargne de l’Etat), Raiffeisen, Post. The process for each bank differs slightly, however typically required documents are as follows: + Passport + Employment contract + Certificate of residence in Luxembourg (can also be your temporary accommodation address) Further requirements may apply based on your nationality and banking needs. Please ask your Dwellworks representative for more details. ING To apply for an account, please ask your Dwellworks representative for more details. + ING Expat Package can meet your requirements and offer you a broad range of tailor- made products and services, which will apply to individual as well as joint accounts. + ING Expat Package is free of charge for current account services, electronic transfers, standing orders and direct debits, euro withdrawals at all ATMs in Europe (country restriction may apply), VISA cyber and VISA classic cards. + ING Expat Package offers credit cards with a wide range of benefits and assistance services, which include but not reduced to travel accident insurance, purchase protection, travel cancellation and interruption etc. Documentation: + Passport/ID (if a joint account, spouse’s passport/ID and personal presence are mandatory) + Employment contract

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BANKING IN LUXEMBOURG

+ Proof of residence (certificate of residence for EU citizens and declaration of arrival/residence permit for non-EU citizens) + TIN (Tax Identification Number) + IMPORTANT: Beneficiary’s salary, or if failing this, an amount to be agreed, must be paid monthly into the ING account BIL To apply for an account, please ask your Dwellworks representative for more details. + BIL offers preferential conditions for you and your spouse, which include but do not limit to current account operations free of charge, e.g. SMS banking, direct debits and standing orders. + BIL offers bank cards (two debit and three credit cards) with offered fees and additional advantages, including insurance, accident and travel cancellation, purchase protection, hire car excess waiver and other preferential terms. Documentation: + Passport or ID (if a joint account, spouse’s passport and personal presence are mandatory) + Employment contract + Proof of residence (certificate of residence for EU citizens and declaration of arrival/residence permit for non-EU citizens) + TIN (Tax Identification Number) BGL BNP PARIBAS To apply for an account, please ask your Dwellworks representative for more details. + BGL BNP PARIBAS offers essential elements in managing your daily banking: current account available in 11 different currencies; one debit and one credit card free of charge; 15 electronic transfers in the EU per month free of charge. + BGL BNP PARIBAS offers a wide network of ATM thanks to BNP Paribas Group and its partner banks; free withdrawals in euros across Europe; withdrawals abroad under domestic conditions. + BGL BNP PARIBAS offers a rental guarantee for a property in Luxembourg subject to you paying a damage deposit (for people under 30 years) Documentation: + Passport or ID (if a joint account, spouse’s passport and personal presence are mandatory) + Employment contract + Proof of residence (certificate of residence for EU citizens and declaration of arrival/residence permit for non-EU citizens) + TIN (Tax Identification Number) + IMPORTANT: Special offers at reduced prices are available to you and your partner, provided your salary is deposited directly on you BGL BNP PARIBAS account via standing order.

Disclaimer: Please note that the above information has been provided as a guide and is subject to change. The content provided herein is for informational purposes only and does not constitute a recommendation and/or opinion. Neither Dwellworks nor any of its subsidiaries make any representations, express or implied as to the timeliness, accuracy or completeness of the information contained herein. Dwellworks expressly disclaims any liability for errors or omissions in such information.

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