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Faroe Islands
Living in EuropeBankingFaroe Islands

Personal finance

Description

The banks offer payment services and provide loans for various purposes.

 

Banking

 

An account in a Faroese bank is necessary in order to receive salary. 

The banks offer mortgage loans for buying real estate property and loans for other purposes, e.g. for purchasing a car. The bank will make an assessment of the financial standing of the customer before granting a loan.