Opening a bank account - multiplicity of criteria - Malta forum

Opening a bank account - multiplicity of criteria

mantonas Serial expat

707POSTS

11 years ago

Hi,

This post it's just to show how different branches from the same bank have different rules/criteria for someone who needs to open a bank account. Everyday I convince myself more that to opening a bank account in Malta, doesn't depend only for its bank requirements but mostly from whom you deal with at the bank.

Just an example, my sister has been in Malta for about 2 months now and she went to a BOV branch in Mellieha with a reference letter from her employer and they told her she could only open an account with that letter, if she had the Maltese e-Residence card...well, fair enough!
Couple of weeks later after she got her EID card, she went back to the same branch and they told her that unfortunately, she also needed a bank reference from her previous bank. As you can imagine, she was a bit pist off.

But anyway, today she went to register at the health center in Mosta and afterwards, she went to try the BOV branch over there. And guess what? with the same employer's reference letter and her EID card, she managed to open a bank account within few mins.

There you go, that's how things here work, sometimes!

Cheerio,
Antonio

3 members reacted to this post

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robpw2 ViP

1574POSTS

11 years ago

Thanks for the info ,

1 member reacted to this post

MovingToTheMed Contributor

145POSTS

11 years ago

Thanks Antonio - will keep this in mind.

We are coming to Malta next month and have already tried to open an account both from the UK and by contacting direct a bank in Malta. Both times we haven't got anywhere. Will now do so once we arrive.

Cheers
Matt

StigTommy Member

16POSTS

11 years ago

When me and my wife came in January 14 we had no problem getting an account,聽 but we had a rekomending letter from the bank in Sweden.
We also had to go to the head office of the BOV bank in Valetta. You cannot do it in the office in Sliema, that is just beside were we live

Tommy

stef88 Contributor

105POSTS

11 years ago

Yes i agree, i went in and asked the lady with the clipboard at hsbc how to open an account, she may as well have said don't bother you cant with her ridiculous list of things. I went to bov in mosta they told me i needed a bank ref. Went to bov in bugibba and opened it with passport and apartment lease!
Movingtothemed- i tried to do it from back home it was a waste of time... I was told to let my bank know before i left to put a note on the system if they do get a request for a ref in Malta its expected and to be completed, which they dis, but didn't need it in the end!

1 member reacted to this post

pmichelazzo Contributor

139POSTS

11 years ago

Stef,

Which branch did you go in Bugiba?

stef88 Contributor

105POSTS

11 years ago

Just up from the hsbc at the top of the square聽

pmichelazzo Contributor

139POSTS

11 years ago

Great!

I will be there in the next week. I have the same "problems" to open an account and I feel that the "rules" have a personal touch too

Thank you!

1 member reacted to this post

mantonas Serial expat

707POSTS

11 years ago

pmichelazzo wrote:
Great!

I will be there in the next week. I have the same "problems" to open an account and I feel that the "rules" have a personal touch too

Thank you!

They have for sure! Sometimes it's a matter of luck by dealing with the right person. Even at the same branch, if you speak with different people, you'll get a different outcome.

1 member reacted to this post

jonathanmalta Member

1POSTS

11 years ago

#10

Hi there

Try Banif, I opened an account with them and it was very straight forward and I have no complaints about them at all.

MovingToTheMed Contributor

145POSTS

11 years ago

#11

jonathanmalta wrote:
Hi there

Try Banif, I opened an account with them and it was very straight forward and I have no complaints about them at all.

Any particular branch?

Do you know if they are in Marsaskala?

Thanks
Matt

mantonas Serial expat

707POSTS

11 years ago

#12

I聽 have a friend who opened a Banif acc at Qormi (inside Pavi) and he only had to show his Maltese EID and make a deposit of 50. They did not asked him for any references. He's from UK so I don't if it's the same procedure with all the other nationalities.

I don't think there's a branch in Marsaskala but I'm not 100% sure. I know they've got branches in Attard, Fgura, Gozo, Naxxar, Qormi, Rabat, San Gwann, Siggiewi, St Julian's, St Paul's Bay, Mosta and Paola.

Hope it helps

Antonio

MovingToTheMed Contributor

145POSTS

11 years ago

#13

Thanks Antiono,聽 - very helpful

In fact although we will be living in Marsaskala we will be opening a pet grooming salon in Fgura - so that might be a good place to open the account.聽

Matt

mantonas Serial expat

707POSTS

11 years ago

#14

There you go, it could be handy then

You're welcome!

Cheerio,
Antonio

1 member reacted to this post

Grumpymovers Member

11POSTS

11 years ago

#15

We will be retiring to Malta in the very near future. Need to sell up and then we are off. Decided to sort bank out here in UK. Took 2 months to get sorted, most of the problems seemed to be caused by some new legislation introduced because of the yanks, but once all the reams of paperwork was sorted and HSBC Malta took over the process it all went very smoothly. Cards pins and internet banking all in place. Patience is the Key

1 member reacted to this post

robpw2 ViP

1574POSTS

11 years ago

#16

matt (my hubby) got a bank account with bov on saturday he had british passport , letter of introduction from his employer and his work contract .. (we still dont have id cards ... cries) and they opened it there and then
this was in valletta btw

nilonilonilo Contributor

163POSTS

11 years ago

#17

Went to BOV in Attard, they said I needed the bloody reference letters, they wrote to my bank and said they would call me back, haven't heard from them since (3 weeks ago ...)聽

559lkm Active member

81POSTS

11 years ago

#18

Hi Matt

We have also tried to open an account in Malta whilst we are in Uk but line you, no luck. I even called HSBC head if five in Malta who gave me an email address to write to. I did this twice but they haven't answered me.
Are you taking a letter of recommendation from your bank in UK?
Good luck with your move
Lesley

robpw2 ViP

1574POSTS

11 years ago

#19

i am robert , matts my husband ...no it was a letter from his work in malta on headed notepaper that is an introduction to banking services ... with this and a contract bov (bank of valletta) opened him an account ..
No reference was required from the UK

Hsbc may have different rules though ..

559lkm Active member

81POSTS

11 years ago

#20

Hi Grumpy mover,

How did you manage to open an account from UK. Please can you tell me who I should get in contact with to do this as I have been trying for the last month without any success.
Any advice much appreciated,
Lesley

mantonas Serial expat

707POSTS

11 years ago

#21

Hi Lesley,

Have a look a this link, hope it will help setting up your account from UK:

Good luck!

Antonio

559lkm Active member

81POSTS

11 years ago

#22

Thanks Antonio!

mantonas Serial expat

707POSTS

11 years ago

#23

You're welcome Lesley,

I read before on this forum before about people having to pay something like 100 to set up an HSBC acc in the UK and then transfer it to Malta. Try to contact them and see what they say.

ade7ade Active member

25POSTS

11 years ago

#24

God! It feels better to see that I am not insane

story:
- husband: he opened the bank account at Banif, St Paul's bay: with FOREIGN ID (not passport) and temporary work contract
- wife: living a nightmare

) at the same branch, plus tax number (married rates), I received a categorically NO. Why? Because the tax number is not mine, she said... well, I tried to explain why actually I have a different tax number - it's just the same root but a different termination... so it's definitely not the same number.. anybody can see that

Also, Banif Attard - I insisted in checking my husband's account. Answer: no, he doesn't exist in our database (meanwhile I was holding his bank statement in my own hands and... guess what? of course, we used his salary from that banif account

)

As I was getting more and more frustrated and risking to not be registered in the payroll system... I checked our EU rights. Starting April 2014, there is a directive on opening bank accounts in any EU country, even for non-residents of that country.
I informed one of the bank's representative about it, she said: "yes, we signed it" / "then why this is not applicable to me?"/ and the magnificent answer: "because you don't have a tax number"....

Grumpymovers Member

11POSTS

11 years ago

#25

There was no charge for opening in the uk.

mantonas Serial expat

707POSTS

11 years ago

#26

ade7ade wrote:
God! It feels better to see that I am not insane
story:
- husband: he opened the bank account at Banif, St Paul's bay: with FOREIGN ID (not passport) and temporary work contract
- wife: living a nightmare ) at the same branch, plus tax number (married rates), I received a categorically NO. Why? Because the tax number is not mine, she said... well, I tried to explain why actually I have a different tax number - it's just the same root but a different termination... so it's definitely not the same number.. anybody can see that
Also, Banif Attard - I insisted in checking my husband's account. Answer: no, he doesn't exist in our database (meanwhile I was holding his bank statement in my own hands and... guess what? of course, we used his salary from that banif account )

As I was getting more and more frustrated and risking to not be registered in the payroll system... I checked our EU rights. Starting April 2014, there is a directive on opening bank accounts in any EU country, even for non-residents of that country.
I informed one of the bank's representative about it, she said: "yes, we signed it" / "then why this is not applicable to me?"/ and the magnificent answer: "because you don't have a tax number"....

That's unbelievable! That was exactly the reason I've created this topic. There is no standard procedures in Malta on how to open a bank account, it's crazy. My sister opened a bank acc without a tax number. And all this is recent, just 1 or 2 years ago, not even references they asked before to set up a bank acc over here. It's like, you have to beg them to have your money go to their banks.

1 member reacted to this post

559lkm Active member

81POSTS

11 years ago

#27

Hi Mantonas,
Using the link you have sent me, I have applied through the HSBC international section so let's see what happens! They have acknowledged my email and I am supposed to receive a call today from a branch in Malta. Fingers crossed!

mantonas Serial expat

707POSTS

11 years ago

#28

559lkm wrote:
Hi Mantonas,
Using the link you have sent me, I have applied through the HSBC international section so let's see what happens! They have acknowledged my email and I am supposed to receive a call today from a branch in Malta. Fingers crossed!

Nice one, glad to hear. Best of luck

ade7ade Active member

25POSTS

11 years ago

#29

Well, imagine that my husband opened a bank account a month ago

)) and I've already checked with that branch also

it seems that today I might be lucky with BOV... I asked for clarifications regarding the policy and signed agreement for EU directive, and I obtained a contact from International Banking department. Although I wanted a written confirmation that I haven't obtained, they might be able to help...
fingers crossed

i聽 will get back to you with the update

559lkm Active member

81POSTS

11 years ago

#30

So they rang and basically told me to walk into a branch in Malta with my passport and proof of where I am living and they will open it there and then. Let's see about that! I tried!

MovingToTheMed Contributor

145POSTS

11 years ago

#31

Thanks to all the folks that have contributed to this topic

We won't have a letter of employment as we are going to start a business - we'll have to see what happens - which just seems to be anything!

GrumpyMovers聽 - got an account sorted for no charge and I think others have been successful from the UK but not I. Most of my banking is really the Nationwide Building Society so I have no relationship with the likes of HSBC.

What was the banking agreement of April 2014?

BTW I am writing this is Marsaskala! No I'm not here permanently yet but dropping off luggage in advance of our move later this month. If setting up a bank account is the hardest thing we do, I'll be very happy聽

559lkm Active member

81POSTS

11 years ago

#32

Please keep me posted Matt as I have just come off the phone with HSBC International services and they've told me it's very straightforward and I can just walk into a branch anywhere in Malta and with proof of identification and a utility bill I will be able to open an account. Having read most of the comments on this site, I'm very sceptical about that but we'll see and like you said if this is the hardest thing I have to do then I can live with that!

1 member reacted to this post

ade7ade Active member

25POSTS

11 years ago

#33

Hi all,
it seems I am lucky, after all... or after researching over and over again about EU rights

the agreement I was talking about is: "Access to payment accounts: these provisions provide for all EU consumers, without being residents of the country where the credit institution is located and irrespective of their financial situation, a right to open a payment account that allows them to perform essential operations, such as receiving their salary, pensions and allowances or payment of utility bills "

so, whenever the bank claims you can't open a bank account without the maltese ID or that it will take a century to open it with foreign IDs, just ask if they signed this agreement:

Although, Banif confirmed the agreement - once again, the agreement stating clearly that you don't have to be a resident of that country - they refused my application (one branch because I don't have the maltese ID and other branch because I don't have a tax number (a total stupidy, as I do have a unique tax number, but with the root of my husband's as we applied for married rates);

So, as I finally have a bank account with BOV

in my opinion, they are more civilized and professional than Banif - at least considering my situation;

559lkm Active member

81POSTS

11 years ago

#34

Wow, thanks for doing that research for all of us and If I have any problems whatsoever opening an account I will quote what you said and ask if they have signed The agreement to which you have referred to.

robpw2 ViP

1574POSTS

11 years ago

#35

is a visa electron the standard card that you get in malta for a current account ?聽 just my husbands card has arrived and its a visa electron -not had one of those for years lol