1 Minute in Finance: Money Transfer

ABBL Published 25.01.2019

In 2018 the ABBL has decided to launch a series of videos aimed at informing retail bank customers on issues regarding the relationship they have with their banks.

A first sequence “My bank and my personal data” intended explaining why customers have to reveal a certain amount of personal information to their bank as well as why the origin of the money has to be known by financial institution.

Investments in financial instruments and investor protection is the topic of the second sequence “My bank and my investments”. It explains how the Markets in Financial Instruments Directive (MiFID) puts the banks in the position to provide adequate advice and assistance, by requesting to know the client’s personal situation and goals, and thereby helping him to take informed decisions.

The questions the third sequence “Money transfer” is responding to are:

  • Who is entitled to transfer money?
  • How to transfer money?
  • Is a money transfer a secured banking operation?

In order to make them accessible and understandable, 1 minute in Finance videos are available in English, French and Luxembourgish.

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Association des Banques et Banquiers, Luxembourg

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Monday to Friday from 8:00 to 17:30.