opening a bank account in malta

lgander Active member

36POSTS

13 years ago

anyone have a bank they would recommend?

what do you need to open a bank account in malta if you have arrived with no letters or references etc.

i want my salary paid in to bank what has to happen.

any info on internet banking

See also

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dreamkin Active member

39POSTS

13 years ago

Again, can give you loads of advice on this. The best way used to be to apply for an ID card and they could basically open it there and then. Unfortunately I think the rules on ID cards have changed so they aren't issuing them without residency permits now.
So your best bet is this. While still in the uk, open an HSBC bank account. When you arrive in Malta go to HSBC and say you want to open a Maltese one. They will require you to have at least 250 euro in it at all times. But before they can set it up they have to ask your current UK bank for a reference - you cannot do this yourself.
So, this takes time, but takes considerably longer if your uk bank is not HSBC. If it is, they can email directly and it takes about a week. After the uk HSBC responds, they can set your account up.
The account comes with a cash card that can only be used in Malta. Internet banking costs six euro a year, but it you want to be able to use your card abroad or buy things online with it, you will probably need to upgrade to an advance account, which costs seven euro a month. This is a minimum year-long deal tho!

1 member reacted to this post

Toon Cyprus Expert

10236POSTS

13 years ago

Go to the UK hsbc and ask them to sort your malta hsbc accounts before you get here...we did this and it worked a treat - all our cards were ready and waiting for us at the nearest branch to where we expected to initially live.

MattM Member

20POSTS

13 years ago

Is it possible to get paid to your bank/non-maltese?

dreamkin Active member

39POSTS

13 years ago

toonarmy9752 wrote:
Go to the UK hsbc and ask them to sort your malta hsbc accounts before you get here...we did this and it worked a treat - all our cards were ready and waiting for us at the nearest branch to where we expected to initially live.

I asked my HSBC to do this and they said it wasn't possible! I now feel hugely cheated!

lgander Active member

36POSTS

13 years ago

do BOV accept you without references

GuestPoster566 ViP

3692POSTS

13 years ago

I have 2 plans of attack.
One is to open an HSBC account here in UK before we leave and have it transferred. (But I have qualms about HSBC)

The other is to open an account with Bank of Valletta before we leave which I am informed by them that we can do.
I have asked for an appointment to do this (in Valletta)when we visit in a few weeks time to save the certifying of original documents.

Here is an extract from an e-mail to me from BoV:

Although you are still Uk residents you are still able to open the account with us. You will provide us with a copy of your passport, which should be authenticated by your bank i.e. stamped and endorsed by a bank official.

As for tax, we understand that you still pay tax in your present country, that is why there is the form named Sav04 which actually states that and which should be signed by yourself.

As a residential address, you may also provide your address in the Uk, however please send us a confirmation of this address such as a utility bill which shows the address etc.

It is important that these documents are all authenticated either by a bank, OR by a legal professional such as a notary or lawyer.

I can also forward the documents that they require to be completed.

john2011 Contributor

112POSTS

13 years ago

One comment. The problem with banks here, they think that all the banks in the world speak english and they're going to provide you with a reference letter. If I imagine going to my bank in France, asking them a reference letter in English, first a reference letter is not usual there and language is not english. If I explain this to the Maltese, they don't understand. Maybe, we should make a false letter and if they want to discuss in English, I know that nobody will reply to them in any way.

ricky ViP

3522POSTS

13 years ago

I had the problem with my German bank.

Where is Malta? We are not allowed to give out details of our customers to somebody claiming to be a bank in Malta ! BOV ? Sounds disgusting .....

So I just forgot about the recommendation part and got my ID card and paid in 50 Euro's.

Of course that does not work any more as there are no ID card's for foreigners any more. The most flexible bank will take the Expat bank accounts in the future....just my opinion.

Cheers
Ricky

1 member reacted to this post

Designs Guest

0POSTS

13 years ago

#10

john2011 wrote:
One comment. The problem with banks here, they think that all the banks in the world speak english and they're going to provide you with a reference letter. If I imagine going to my bank in France, asking them a reference letter in English, first a reference letter is not usual there and language is not english. If I explain this to the Maltese, they don't understand. Maybe, we should make a false letter and if they want to discuss in English, I know that nobody will reply to them in any way.

my god, this is my problem! now i got the Maltese ID i went to the HSBC bank and they asked me for reference from my bank back
home!!! i tryed to explane that they will not send a letter in english! hello it's Libya and a goversment bank ...and until now i'm without a bank account here.... is there any other banks?
or should i go and say i don't have an account back home ,is this a good idea?

GuestPoster566 ViP

3692POSTS

13 years ago

#11

2 things perhaps. One is that the BoV issues an authorising letter for them to approach your bank to obtain a reference but my copy is written in English!

The other is that raises an interesting point so I wrote to the Times of Malta asking the questions........

Unfortunately I have to supply passport details etc!! (oh the irony) which I am not prepared to do to such an organisation by e-mail, so my letter will remain unprinted.

matm911 Serial expat

656POSTS

13 years ago

#12

Funny, I had the problems with BOV only

, they wanted a recommendation letter from my Austrian bank, even a residence certificate and an ID card for opening a savings account (without overdraft) with nationals debit card only.
To gain an international debit card I had to wait until 3 monthly salaries from my employer were paid to my account (what is not possible as unemployed person

) and a credit card was far out of reach.
OK, BOV is an authority ...

So I went to HSBC and with my ID card and my signature only I was able to open an account (without overdraft), received national (quickcash) and international (visa electron) debit card within a few days ... and some times later 1 week after applying I also received the "real"

visa credit card.

It seems all depends ... like everything here in Malta

Markus

1 member reacted to this post

Stephhh Active member

41POSTS

13 years ago

#13

Markus, would you please let me know which branch and which agent ?? As I need to open a bank account but don't work yet, I've arrived a few weeks ago.
Thanks !!

john2011 Contributor

112POSTS

13 years ago

#14

I could possibly help you to open an account if I speak to my bank.

Stephhh Active member

41POSTS

13 years ago

#15

Are you being serious ?

I haven't tried yet, but since I'm a job seeker, and still waiting for my residant card, I guess it won't be easy.

john2011 Contributor

112POSTS

13 years ago

#16

No of course you go to the bank alone, you ask to open an account, nothing difficult

GuestPoster566 ViP

3692POSTS

13 years ago

#17

Stephhh.

My advice? Don't assume something is difficult, especially if you haven't even tried yet. An aspect of human psychology is that if we presume problems our own behaviour could cause problems because that is what we expect and therefore we assure ourselves that we are correct!!
Also, I would be wary of any impersonations or declaring false details.

Try HSBC, you can apply online or contact someone here:

I will PM you a personal contact who is an International Specialist. He may be able to help you.

mantonas Serial expat

707POSTS

13 years ago

#18

I can give you my personal advice as I have being going through the same pain since I have arrived here over a month ago. If you want my personal opinion, don't try to open an account at HSBC here in Malta without a recommendation letter, coz you will wait forever and you will never receive that letter from your bank. I tried to open an account with them here in Mellieha over a month and I am still waiting for their reply. I tell you why does not work with HSBC. They normally send an electronic correspondence to your bank abroad without your signature stating they you allow them to request information about your bank account. What happens is, your bank will receive that request and they will just ignore it, they will never reply to it.

What I did was, I went to BOV last week and they have an alternative way of requesting those references. What they do is, they give you a form for you to sign it authorizing them to ask references about your account and they post it to the manager of your bank. I have just called my bank in Ireland today and they have confirmed to me that they have received that letter from BOV and that they have posted it today. So, hopefully, by next week I should have my account opening issue sorted.

I hope this info can be useful to you and goof luck!

Cheerio,
Antonio

pgl Contributor

141POSTS

13 years ago

#19

Excellent advice, thanks mantonas. I'll try that!

Edit: also, BoV doesn't need to see employment or rental contracts.

mantonas Serial expat

707POSTS

13 years ago

#20

pgl wrote:
Excellent advice, thanks mantonas. I'll try that!

Edit: also, BoV doesn't need to see employment or rental contracts.

Hi pgl,

They gave me a list of the docs I will need to provide but I'll need to try to find coz I don't rem where I put it
I don't think they need any employment doc but for sure, they will a proof of address (bill) or a copy of your tenancy agreement.

GuestPoster566 ViP

3692POSTS

13 years ago

#21

Well, this thread just shows how things can be so different depending upon the circumstances and upon whom you speak with.
That's Malta!! Love it!!

All I will add is a bit obvious but if you can; get an account open before arrival.

PPPPPP

pgl Contributor

141POSTS

13 years ago

#22

mantonas wrote:
I don't think they need any employment doc but for sure, they will a proof of address (bill) or a copy of your tenancy agreement.

Huh, I specifically asked if they needed it, and I was told no. Oh well!

mantonas Serial expat

707POSTS

13 years ago

#23

I reckon the guy from BOV should contact me Tuesday or Wednesday, hopefully. What I'll do, as soon I have all sorted out, I will let you know for sure, how did it go and what docs they asked.

mantonas Serial expat

707POSTS

13 years ago

#24

pgl wrote:
Excellent advice, thanks mantonas. I'll try that!

Edit: also, BoV doesn't need to see employment or rental contracts.

Hi pgl,

Just found the list of docs they asked to take as soon as they receive my bank's recommendation letter:

- Passport
- Evidence of address in Malta
- Tax ID number
- Countries ID Card (in my case Portuguese)

Cheerio,
Antonio

pgl Contributor

141POSTS

13 years ago

#25

Great, thanks for that.

matm911 Serial expat

656POSTS

13 years ago

#26

Stephhh wrote:
Markus, would you please let me know which branch and which agent ?? As I need to open a bank account but don't work yet, I've arrived a few weeks ago.
Thanks !!

It was the Marsascala branch of HSBC ... but due to the new e-ID-card system also opening a bank account seems to be much more difficult now

btw, I very much enjoy going to the new rebuilt HSBC branch in Zabbar They are very friendly there and you do not have to wait very long.

Rocking Ken Serial expat

402POSTS

13 years ago

#27

Hi All,

Can I get a reference from my bank whikle I am in the UK and present it to the bank clerk when opening an account in Malta. WOuld they accept it that way or does the reference have to come directly to them from your bank.

Thanks

Toon Cyprus Expert

10236POSTS

13 years ago

#28

worth a try in my opinion - you cant be any worse off really - all to gain.

pgl Contributor

141POSTS

13 years ago

#29

HSBC told me that I couldn't do this. Why, I don't know. Perhaps another branch would've said something different.

mantonas Serial expat

707POSTS

13 years ago

#30

Rocking Ken wrote:
Hi All,

Can I get a reference from my bank whikle I am in the UK and present it to the bank clerk when opening an account in Malta. WOuld they accept it that way or does the reference have to come directly to them from your bank.

Thanks

It's not possible! Both HSBC and BOV told me that the reference letter should be addressed to their branches. I am telling you this coz I mentioned to the guy at HSBC that my bank in Ireland would send me a letter to my address here in Malta with information about my acc, and the guy said they did not accept that. Sorry about it.

mantonas Serial expat

707POSTS

13 years ago

#31

Right, just an update in regards to my odyssey about opening an account here in Malta.

After nearly 2 months of waiting for an update from HSBC about the references from my bank in Ireland, with no reply, I finally managed to open an account at BOV in Mellieha. It only took me 2 weeks to open an account at BOV.

Went there this morning with all the docs that have been required, and in about half an hour, my acc has been open. I already have all my BOV bank account details, including IBAN and bank's BIC and shortly, I should also receive my debit card.

The only issue I have at the moment, is trying to provide a recent proof of address from Ireland. As I had previously changed my address details from my bank account in Ireland to my Maltese address, unfortunately, I cannot use my Irish bank statement to prove my address over there. Nevertheless, the account has been opened and I have already emailed an alternative doc confirming my address over there.

So, my advice to the people who are trying to open an acc over here is, try first with BOV, rather than with HSBC. As I have mentioned previously, at BOV, they have an alternative way of requesting references from a bank account abroad. A part from the electronic correspondence they send to your bank, which you cannot sign it, they give you a form for you to sign it confirming that you allow them to ask references about your acc on your behalf. Afterwards, they post it to your bank's branch abroad and just wait for them to post it back to their branch here. This was the only way that worked for me!

Well, I hope this info can be useful to you guys.

Cheerio,
Antonio

pgl Contributor

141POSTS

13 years ago

#32

This is indeed very useful - thanks Antonio!

mantonas Serial expat

707POSTS

13 years ago

#33

pgl wrote:
This is indeed very useful - thanks Antonio!

Your welcome pgl

Designs Guest

0POSTS

13 years ago

#34

Thanks Antonio, we will be facing the same battle in 2 weeks time as our bank in Ireland advised they do not issue letters of recommendation anyway

mantonas Serial expat

707POSTS

13 years ago

#35

I know Tinna9, I spoke with someone from AIB and they told the same thing too. They used to do it before, but they don't do it anymore. But the way I did it, I can assure you that it works

Just give them a call few days after the bank here sends the form to them, for a follow up.
I don't know what's your bank in Ireland, but everyone at AIB have been really helpful every time I call them.

Good luck!