Getting a bank account in Malta can be difficult. Maltese banks have a notoriously long waiting period to approve a bank account, and employers prefer a Maltese IBAN when it comes to paying out salaries. For many expats, the answer is often to take their salary in cash. Fortunately, iPaymix now makes getting a Maltese IBAN much easier.
Malta is an ideal country for expats to consider as their new home: the weather is favorable, over 90% of the local population speaks English at a native level, and its location in the middle of the Mediterranean make it a prime option for expats looking for a life by the sea and with good travel opportunities. Job opportunities are plentiful, and you can even work as a sole trader or a freelancer with relative ease.
Here are the five steps you need to take to get a Maltese IBAN and online wallet account.
1. Go onto iPaymix.com
iPaymix is an e-wallet that is designed to provide anyone over the age of 18 with a Maltese IBAN. The secure website will ask you to confirm some basic personal details, and answer a few know-your-customer questions that are in line with Maltese law.
2. Download the app
The best way to use iPaymix is with the custom-built app, so go ahead and download the free app from the Apple App store or Google Play store.
3. Upload your personal documents
When it comes to verifying your identity, iPaymix will ask you to provide a scanned copy or a picture of a government-issued document, such as an ID Card, driving license, or residence permit. Upload an image of both sides.
To verify your address, you will need a copy of a utility bill or a bank statement that is no less than 3 months old.
4. Verify your mobile phone
iPaymix will send you a validation number to your mobile phone, so make sure that the number you give them is correct.
5. Wait 48 hours
That's it! Your iPaymix account should be ready to use within 48 hours.
With an iPaymix eWallet account, not only do you have a Maltese IBAN, you can use your account the same way as you would any bank account. Transfer money internationally, pay
contactless, and receive funds from other iPaymix account holders without any delay, and with the app, you always know how much money is available to you.
iPaymix is a licensed institution that complies with Maltese legislation to protect your money and make sure you have nothing to worry about when it comes to getting your salary. Their website is highly protected, and they work with legal entities to ensure that you are always on the right side of the law. Your card details are protected within a PCI Level 1 infrastructure, and only you will have access to your card's personal information.
All iPaymix accounts are global premium personal accounts with a loading limit of €50,000 per year. Only one account can be opened per customer, and you can close your account without any hassle, though some termination fees may apply.
Best of all, you can transfer funds to people who don't have an iPaymix account through the iPaymix website.
For more information on the app you can visit the iPaymix page here.
For more information on the company you can visit the Finance Incorporated Ltd page here.
