All reviews of Raiffeisen bank in Luxembourg (2026)

Negative opinions about Raiffeisen Luxembourg

A major technological gap in relation to current standards

This is the most recurrent criticism. A Trustpilot review details: "Online banking won't show your spending immediately and often takes 2~4 days until it is shown on the system. This applies to both debit and credit card. Moreover, they do not provide SMS or APP notification for movements nor spending. If someone uses your card fraudulently, you won't notice it until a few days later". One Reddit user summed it up: "they're still stuck in the nineties". The absence of Apple Pay is systematically mentioned as a major obstacle.

Excessively intrusive compliance checks

There have been several reports of abusive practices. A Canadian customer reported on Trustpilot: "To open an account, you must go through an interview with many personal questions, including inquiries about your assets abroad. I felt judged [...] since I left Luxembourg, I've been treated like a pariah: I made a few transactions and my advisor asked for explanations because she found my profile 'suspicious': Do I still have a job? Why am I no longer depositing my salaries into this bank? Why did I transfer money abroad? A Belgian witness confirmed: "Staff were incredibly rude, asked about highly personal details about a larger money transfer in a tough, unfriendly manner. When I asked to have a copy of the law they claimed allowed them to request the many details they alleged, I was told to go find the law myself. That same day Raiffeisen blocked my account and 3 days later I received a letter stating that they discontinued their business with me ".

Abrupt and poorly explained account closures

The bank seems to close the accounts without sufficient dialogue. The Belgian customer quoted above concluded: "My account was closed! Clearly Raiffeisen has more than enough customers and think they operate somewhere in a communist country". The Canadian customer added: "This bank has a communist policy". These sudden closures create difficult financial situations for the customers concerned.

Abnormally long transfer times

A German testimonial on Trustpilot reports: "Halten gern mal das geld ihrer Kunden zurück, Gehaltseingang normalerweise immer am 27.eines Monats, seit ich bei raiffeisenbank luxemburg bin ist es immer erst am 30 eines Monats da [...] jeder in meiner Firma hat mittlerweile sein Gehalt seit Donnerstag sur le Konto, moi leider nur der einzige den seine Bank das Geld länger als andere Banken zurück hält". These delays suggest inefficient internal processes.

An archaic and dysfunctional telephone verification process

A detailed testimonial on Trustpilot reveals a particularly problematic system: "I tried to make an important transfer to a third country using the phone app [...] they call to verify that I requested the transfer, and that I had to renew the transfer and answer their call when it came. They don't accept the fact that I had to unlock my phone, use my bank app credentials, and then use LuxTrust [...] Despite all these verification steps, they insist on verifying the transfer through a phone call-one that anyone could pick up without unlocking the phone. The call comes from an unknown number, so you don't even know who is calling. Moreover, you have to answer immediately, no matter what you're doing, or your request is rejected". Five days later, the customer still hadn't been able to make the transfer.

Difficult-to-reach customer service

Waiting times are regularly criticised. A Trustpilot review states: "I could never reach CS on phone less than 8-9 minutes, on my complaint that once I had to sit on the line for 22 minutes they replied that they had technical problems. But it repeats again and again". Another said: "I tried calling back, but I waited on the line for 30 minutes without reaching anyone".

A lending policy that is too conservative for certain profiles

A Reddit testimonial from 2008 details a difficult experience: "I had to take out a loan for a car, to go to work [...] Reffkees didn't want to because of their conservative lending policy: my salary was quite high, but I was rejected because of my student loan". This rigidity can exclude even creditworthy customers.

Increasing charges with no improvement in service

A Trustpilot review sums it up: "The service is pretty much non-existent, but account management used to be free. For the last year or two, it's been a festival of various charges for a service that's still non-existent. Choose a free online bank, and the service won't be any worse. Former customers are disappointed by the introduction of charges for which there is no qualitative compensation.

Constantly changing and poorly trained staff

One Reddit user reports: "Staff are constantly changing, with bloody newbies at the counter who know less than their customers. This instability undermines continuity of service and the quality of advice.

Slow and incomplete digitalisation

A Reddit testimonial details: "Another thing is digitisation: the bank had a lot of trouble implementing Digicash/Payconiq. Friends around me looked at me with pity/surprise when I told them I couldn't receive or send money via Digicash". Customers are being penalised on a day-to-day basis by the fact that Luxembourg standards are lagging behind.

Important note Raiffeisen Luxembourg remains a strong and independent local cooperative bank, valued for its stability and competitive mortgage rates. However, experiences vary considerably: customers looking for a traditional, conservative bank with excellent mortgage terms and a willingness to accept a technological lag may find satisfaction. On the other hand, those expecting modern digital services, real-time notifications, Apple Pay or a less intrusive approach to compliance can sometimes be disappointed. The bank seems particularly vigilant with international or mobile profiles. A word of advice: compare bank offers carefully before making your choice.