Opening a maltese bank account

Some people have had success with the BOV but as with all banks in Malta requirements  change from  branch to branch.
You would need proof of address so  a rental contract for more than 6 months would be ideal plus your passport.


Terry

most people rent when they arrive so don't have utility bills in their name (its in the landlords name here).

Rental contract should be sufficient for Proof of address.

Its worth asking your UK bank for a reference letter as some banks seem to want one.

Aside from HSBC you have Bank of Valletta or Banif

If you find somewhere to rent you will a have a lease agreament, this is enough for proof of address and together with your passport you should be able to open an account with Banif.

There are dozens of posts on the forum regarding opening a bank account so have a look and see what others have suggested in the past!  (Listed under Banks and Finance at the top right of the page)

Ray

Just a nightmare. Don't get me wrong I do understand as you would usually need a proof of address opening a bank account here in the UK. This is a bit of a nightmare as I was not looking shared accommodation for more than 3 months this was only until I found my feet. But even if I rented a room I am not sure if they would provide me with a contract? I would assume I would just pay a deposit and that is it?

socialwhirl wrote:

Aside from HSBC you have Bank of Valletta or Banif

As well as Lombard and APS.

Ray

danbatch wrote:

Just a nightmare. Don't get me wrong I do understand as you would usually need a proof of address opening a bank account here in the UK. This is a bit of a nightmare as I was not looking shared accommodation for more than 3 months this was only until I found my feet. But even if I rented a room I am not sure if they would provide me with a contract? I would assume I would just pay a deposit and that is it?

Some companies provide a letter so the employee can take to the bank to facilitate the opening of the bank account. You can always check with your employer if they can do that.

Opening a bank account in Malta is a painful and slow process. It takes longer than in any other country I know of - just warning you

slink wrote:

Opening a bank account in Malta is a painful and slow process. It takes longer than in any other country I know of - just warning you

Took us all of 30 minutes!

If you mean opening an account whilst you still live in S.Africa, then I can imagine that it would be bordering on impossible!

Ray

apply at Mediterranean Bank on www.medbank.com.mt or call 2557 4400 ... they don't do cards but have free internet banking and do efficient online payments.

F0xgl0ve wrote:

slink wrote:

Opening a bank account in Malta is a painful and slow process. It takes longer than in any other country I know of - just warning you

Took us all of 30 minutes!

If you mean opening an account whilst you still live in S.Africa, then I can imagine that it would be bordering on impossible!

Ray

My 1st attempt to open an account with HSBC, was equally painful, after 6 months I was still waiting for an update from them with regards to the references they requested to my previous bank in Ireland. Then tried with BOV and it was done straight away, within a week from the time they received my bank references, I got my account opened and the debit card posted to my address over here.

My hsbc account took about 10 mins and 5 days for the letter to be sent with my account details on

My partners bov account took about 20 mins and they gave him the details there and then

Hi guys!

I just want to tell you my unsuccesful experience with Banif.

Almost a month ago I went to the St Julians branch to ask about the documents required to open an account as there's no such information on their website. They gave me a paper with these requirements:

- Passport
- Maltese ID / Tax Number
- Social Security Number
- Proof of address
- 600 Euros deposit
- Contract of employment

A few days later I visited again the branch to ask some questions about the documents. When I had everything ready, almost 3 weeks after my first visit, I called to customer care to book an appointment and again we went through all the documents to make sure I've got them all. So finally, when I went to the St Julians branch with all my documents, I've been told I wasn't able to open an account as my employment contract is very recent - I'm at a probation period- and that I should come back after the 6 months probation period! Ridiculous! But what it enfuriates me the most is that nobody told me such thing after 2 visits and a phone call. If this requirement is a critical one to decline a new application I don't understand why they don't tell to new customers to not make them waste time and effort for nothing.

I'll try with BOV and HSBC now, but I don't think my bank will provide the letter of reference. Wish me luck!

Try to ask the HR department from the company where you work, to see if they can provide you with a document to present at the bank for that matter.

Hope you can get it sorted, good luck!

mayn wrote:

Hi guys!

I just want to tell you my unsuccesful experience with Banif.

Almost a month ago I went to the St Julians branch to ask about the documents required to open an account as there's no such information on their website. They gave me a paper with these requirements:

- Passport
- Maltese ID / Tax Number
- Social Security Number
- Proof of address
- 600 Euros deposit
- Contract of employment

A few days later I visited again the branch to ask some questions about the documents. When I had everything ready, almost 3 weeks after my first visit, I called to customer care to book an appointment and again we went through all the documents to make sure I've got them all. So finally, when I went to the St Julians branch with all my documents, I've been told I wasn't able to open an account as my employment contract is very recent - I'm at a probation period- and that I should come back after the 6 months probation period! Ridiculous! But what it enfuriates me the most is that nobody told me such thing after 2 visits and a phone call. If this requirement is a critical one to decline a new application I don't understand why they don't tell to new customers to not make them waste time and effort for nothing.

I'll try with BOV and HSBC now, but I don't think my bank will provide the letter of reference. Wish me luck!

We are retired  and obviously don't have an employment contract but we just walked in with no appointment, we had nothing more than a Tenancy Agreement and Passport and we walked out 15 minutes later with the account opened! We deposited 100 euros to open the account and that was all.
When we recieved our eResidence card we then gave them the ID numbers.
I think different branches and different people mean different answers! We went to Victoria branch as we live in Gozo and it was 3 years ago so things may have changed.

Ray

F0xgl0ve wrote:

We are retired  and obviously don't have an employment contract but we just walked in with no appointment, we had nothing more than a Tenancy Agreement and Passport and we walked out 15 minutes later with the account opened! We deposited 100 euros to open the account and that was all.
When we recieved our eResidence card we then gave them the ID numbers.
I think different branches and different people mean different answers! We went to Victoria branch as we live in Gozo and it was 3 years ago so things may have changed.

Ray

It has changed Ray! I remember about 2 1/2 years ago when first tried to open my account at HSBC, the guy told at the time that the request for bank references, was something relative new at that time. Just few months before that, there was no need for reference letter.

Five years ago we had to provide a bank reference before HSBC would open  an account.

Terry

mantonas wrote:

F0xgl0ve wrote:

We are retired  and obviously don't have an employment contract but we just walked in with no appointment, we had nothing more than a Tenancy Agreement and Passport and we walked out 15 minutes later with the account opened! We deposited 100 euros to open the account and that was all.
When we recieved our eResidence card we then gave them the ID numbers.
I think different branches and different people mean different answers! We went to Victoria branch as we live in Gozo and it was 3 years ago so things may have changed.

Ray

It has changed Ray! I remember about 2 1/2 years ago when first tried to open my account at HSBC, the guy told at the time that the request for bank references, was something relative new at that time. Just few months before that, there was no need for reference letter.

Sorry to contradict, but when we approached HSBC and BOV in 2012 both insisted on references from our UK banks, in fact BOV told us to ask our bank to send them a reference before they would even discuss an account!
That's why we went to Banif.

Ray

I guess I'm may be in a similar situation. HSBC suggested I became a Premier customer when I started living in the US, it was their suggestion and worked really well for the 10 years I was there. I cam back to the UK a year ago and plan to move to Malta next April but as yet don't have an address there.
If you're not an HSBC premier customer in the uk I suggest you go and explain to them your intentions.
I will update again if I find things easier
Good luck
John C

Thank you for this. I have spoken with them and they suggested an international account. Unfortunately I will not be able to whack in the 10k per month that they were asking for haha.

Does anyone know what the reference consists of from my UK bank? Currently banking with Lloyds.

As we're moving next week this will concern us, too. Does anyone know if the employer can also pay the salary into a non-Maltese account within the EU? In theory this shouldn't be a problem thanks to SEPA. I had colleagues at my last job who got paid into their German bank accounts for the first few months before they could open an Irish one.

You are correct it should be easy to have it paid into any bank via SEPA but this is Malta and you may have to insist that its OK.

Terry

blackangelheart wrote:

As we're moving next week this will concern us, too. Does anyone know if the employer can also pay the salary into a non-Maltese account within the EU? In theory this shouldn't be a problem thanks to SEPA. I had colleagues at my last job who got paid into their German bank accounts for the first few months before they could open an Irish one.

That's what I did, and I use my italian atm card to withdraw cash.

Manliogman6 wrote:

blackangelheart wrote:

As we're moving next week this will concern us, too. Does anyone know if the employer can also pay the salary into a non-Maltese account within the EU? In theory this shouldn't be a problem thanks to SEPA. I had colleagues at my last job who got paid into their German bank accounts for the first few months before they could open an Irish one.

That's what I did, and I use my italian atm card to withdraw cash.

So your employer paid the salary into an Italian bank a/c? That's brilliant! Was that easy to arrange or would they kick up a fuss? And are you within iGaming? I can imagine them being the most flexible since they work with lots of different nationalities.

As usual, Manliogman6, your info on getting started in Malta is super helpful!

Yeah when they suggested I open the account I was quite well off. Not so anymore (my ex in Texas is living very well though lol...not).
Joking aside even though I'm now on a very restricted budget (but enough to live a good life in Malta) they have never taken it away. So no I don't get 10k a month paid into my account as they are now saying. Unfortunately I guess I got my offer just at the right time.
I'm sure it will all work out in the end, don't forget to get your EU health card which will gives you access to health care.

EU health card will only give you access to healthcare as long as you are a tourist and only for emergencies and is not accepted for residency purposes.

Ricky

Chalks1 wrote:

I'm sure it will all work out in the end, don't forget to get your EU health card which will gives you access to health care.

If you are referring to the EHIC card it is of no use if you intend to work or obtain residency in Malta.

Important – the European Health Insurance Card:
◾is not an alternative to travel insurance. It does not cover any private healthcare or costs such as a return flight to your home country or lost/stolen property,
◾does not cover your costs if you are travelling for the express purpose of obtaining medical treatment,
◾does not guarantee free services. As each country's healthcare system is different services that cost nothing at home might not be free in another country.

Please note: when you move your habitual residence to another country, you should register with the S1 form instead of using the EHIC to receive medical care in your new country of habitual residence.


Terry

tearnet wrote:

Please note: when you move your habitual residence to another country, you should register with the S1 form instead of using the EHIC to receive medical care in your new country of habitual residence.

Terry

If you are not yet of retirement age please be aware that the S1 route is only available to UK citizens in receipt of a UK State Pension and would also enable an application to the UK government for a UK issue EHIC card.
The alternative, for those below state pension age is the Reciprocal Health Agreement.

Ray

Yes thanks Terry and Ray you're right of course. I'm just using mine while I tour the island in February. Bearing in mind I've never been to Malta I'm wanting to find the right area to live before I move in April. I do get a UK state pension next year and have checked out those rules but of course I will register etc when I finally move,
By the way and suggestions on location always appreciated although I now it's down to personal preference. I like the idea of having things within walking distance which I missed in the US as you had to drive everywhere even for a cup of coffee.
Anyway good luck all
John 

mantonas wrote:

F0xgl0ve wrote:

We are retired  and obviously don't have an employment contract but we just walked in with no appointment, we had nothing more than a Tenancy Agreement and Passport and we walked out 15 minutes later with the account opened! We deposited 100 euros to open the account and that was all.
When we recieved our eResidence card we then gave them the ID numbers.
I think different branches and different people mean different answers! We went to Victoria branch as we live in Gozo and it was 3 years ago so things may have changed.

Ray

It has changed Ray! I remember about 2 1/2 years ago when first tried to open my account at HSBC, the guy told at the time that the request for bank references, was something relative new at that time. Just few months before that, there was no need for reference letter.

I did exactly the same, walked in to Banif, SPB n more than 18 months ago. Maybe tell them you're not working then they don t; need contract, its not necessary to be working to open an account. I did wait until I had eresidence card as I wa in no rush and from memory took that and passport only.