Luxembourg
Profile
ING Luxembourg SA offers the whole range of international banking products and services. Its local and international clients include private individuals, companies and institutional investors.
Private Banking, financial engineering and corporate advice are the main services offered to clients abroad.
For more information, please visit our website www.ing.lu.
ING Luxembourg SA provides the following financial services: account opening, reporting, documentary trade, treasury-, payments & cash management- and corporate finance products.
General information
| Currency | Euro € EUR |
| Time zone | Greenwich Mean Time + 1 hour, Eastern Standard Time + 6 hours |
| Language | Letzebuergesch or Luxembourgish, a German dialect with a French |
Means of payment
The most commonly used means of payment by companies are credit transfers. Direct debits are used almost exclusively for recurrent and retail payments. The use of cheques has declined dramatically due to the widespread use of debit and credit cards and the disappearing of the ‘eurocheque.’ Although the use of bills of exchange has declined in Luxembourg, it still remains quite commonly used for both domestic and international business transactions.
Payments and Cash Management Services
| ACCOUNT OPENING | |
|---|---|
| Non-resident account | • |
| Resident account | • |
| PAYMENTS & CASH MANAGEMENT | |
| Cash facilities | • |
| Cheque Book | • |
| Credit Card facilities | • |
| Cross-border transfers | • |
| Domestic transfers | • |
| Direct Debits | • |
| Electronic Banking | • |
| Local Cash Pooling | • |
| Repatriation of funds | • |
| Standing orders | • |
| REPORTING | |
| Electronic end of day reporting | • |
| Electronic intra day reporting | • |
| Paper account statements | • |