A Luxembourg authorisation does not allow the same private-banking services in every client country. The EEA passport gives access, but country-by-country rules still shape client contact, advice, products, marketing and file evidence.
Closing a retail payment account in Luxembourg is a legal exercise before it is an operational one. The Luxembourg Law of 10 November 2009 on payment services (the Payment Services Law) regulates the payment-services framework contract: the durable contractual arrangement covering recurring services, including transfers, cards, direct debits, and standing orders. For ordinary termination under…