Bank account

AdrianBo wrote:

Hi guys.  Could anyone please tell me how easy ot is to open a Maltisian bank account e.g Valletta Bank or any other besides the HSBC Bank as a EU foreigner ??

If you read previous posts you will find the answer to your question, this subject has been asked many times, good luck.

AdrianBo wrote:

Hi guys.  Could anyone please tell me how easy ot is to open a Maltisian bank account e.g Valletta Bank or any other besides the HSBC Bank as a EU foreigner ??

On 7th December, 2016, the Maltese authorities transposed Directive 2014/92/EU, regulating the access to and opening of bank accounts with basic features for non-Maltese citizens, into national law.

As regards Directive 2014/92/EU, please see Article 15, entitled, 'Non-discrimination'.

AND

Article 16, entitled, ‘Right of access to a payment account with basic features’.

Sources:

http://eur-lex.europa.eu/legal-content/ … 32014L0092http://www.justiceservices.gov.mt/Downl … 09&l=1

Thank you Fionn. Very helpful

I work a lot and dont have time to go through old posts. I got the answer from someone else..

AdrianBo wrote:

I work a lot and dont have time to go through old posts. I got the answer from someone else..

Actually you did not get the information from someone else you got it from Fionn who always quotes
EU law which in reality means nothing, reading past posts will be more helpful.

Oh. Thank you very much. I aprecciate that

GozoMo wrote:

AdrianBo wrote:

I work a lot and dont have time to go through old posts. I got the answer from someone else..

Actually you did not get the information from someone else you got it from Fionn who always quotes
EU law which in reality means nothing, reading past posts will be more helpful.

@GozoMo

On the contrary, your assumption is mistaken.

Please see excerpts: ‘…..4. Commission reply (REV), received on 27 June 2014

On 20 January 2014, the petitioner provided new evidence concerning the credit policy of HSBC bank in Malta, which required the Maltese nationality as an eligibilty criterion for granting credit. HSBC in Malta stated the following on its website:

‘To apply for a Flexicredit Loan you must be a Maltese citizen aged 18 or over, receiving a regular income sufficient to support your monthly repayments over the whole term of the loan.’

And

‘To apply for a Flexicredit Overdraft you must be a Maltese citizen aged 18 years or over, receiving a regular income.’

The Commission services contacted the Maltese FSA and asked for explanations. 

The Maltese FSA in turn contacted the bank and requested further information on the policy conditions applied by HSBC in Malta………………

………As a result, HSBC has REVIEWED its internal process for granting credit and REMOVED all references to nationality.....and updated its website accordingly.'

Source: Page 3.

http://www.europarl.europa.eu/meetdocs/ … 0823en.pdf

@GozoMo

Contrary to what you implied in your comment, you are yet again mistaken. I also quoted Maltese law as follows - 'On 7th December, 2016, the Maltese authorities transposed Directive 2014/92/EU, regulating the access to and opening of bank accounts with basic features for non-Maltese citizens, into national law.'

In this regard, please see LEGAL NOTICE 411 of 2016:

http://www.justiceservices.gov.mt/Downl … 09&l=1

There is no point in going on and on about EU laws when they are ignored anyway peoples actual experience is far more helpful and not as boring.

GozoMo wrote:

There is no point in going on and on about EU laws when they are ignored anyway peoples actual experience is far more helpful and not as boring.

@GozoMo

You are, yet again, incorrect.

Maltese law applies, as follows - 'On 7th December, 2016, the Maltese authorities transposed Directive 2014/92/EU, regulating the access to and opening of bank accounts with basic features for non-Maltese citizens, into national law.'

In this regard, please see LEGAL NOTICE 411 of 2016:

http://www.justiceservices.gov.mt/Downl … 09&l=1

Fionn wrote:

GozoMo wrote:

There is no point in going on and on about EU laws when they are ignored anyway peoples actual experience is far more helpful and not as boring.

@GozoMo

You are, yet again, incorrect.

Maltese law applies, as follows - 'On 7th December, 2016, the Maltese authorities transposed Directive 2014/92/EU, regulating the access to and opening of bank accounts with basic features for non-Maltese citizens, into national law.'

In this regard, please see LEGAL NOTICE 411 of 2016:

http://www.justiceservices.gov.mt/Downl … 09&l=1

You always choose to ignore the fact that you can copy and paste EU legislation as much as you like but even if the Maltese government signs up to these things it does not generally happen in practice in Malta.

Perhaps it would be more useful if you followed what this forum is about:- to help others by passing on your experiences, not to copy and paste!
I am sure most members totally ignore all the links you love to post backing the EU as they know it makes no difference in reality!

Ray

F0xgl0ve wrote:

Fionn wrote:

GozoMo wrote:

There is no point in going on and on about EU laws when they are ignored anyway peoples actual experience is far more helpful and not as boring.

@GozoMo

You are, yet again, incorrect.

Maltese law applies, as follows - 'On 7th December, 2016, the Maltese authorities transposed Directive 2014/92/EU, regulating the access to and opening of bank accounts with basic features for non-Maltese citizens, into national law.'

In this regard, please see LEGAL NOTICE 411 of 2016:

http://www.justiceservices.gov.mt/Downl … 09&l=1

You always choose to ignore the fact that you can copy and paste EU legislation as much as you like but even if the Maltese government signs up to these things it does not generally happen in practice in Malta.

Perhaps it would be more useful if you followed what this forum is about:- to help others by passing on your experiences, not to copy and paste!
I am sure most members totally ignore all the links you love to post backing the EU as they know it makes no difference in reality!

Ray

@F0xgl0ve

Like them or not, the new Maltese rules are the new Maltese rules and members are entitled to be aware of them.

LOL, quoting the law is meaningless in regards to this topic.

When I lived on a Greek island there was EU law, Athens law, Island law and finally normal accepted practice.  The only one that mattered was the last.

For example, EU law required the wearing of helmets on motorcycles, etc.  So did Athens law and Island law but the only time anyone wore one was for 2 weeks each April when the local police set up roadside checks and wrote their quota of 'no helmet' tickets for the year.

As for bank accounts, when I moved to the UK, I went into a bank on day two with a bank draft for a 5 figure amount in GBP.  The teller told me I could not open an account and deposit the money without some proof of residence such as a rent receipt, utility bill, etc.  I asked her if she understood what she was saying.  I had money to deposit, she worked for a bank and she was refusing to take my money!

I went to the next bank on the street and asked to see the Manager.  I told her I was moving to the country and had a bank draft (for those who are not familiar with bank drafts, they are as good as cash) that I wished to deposit.  I showed her my passport, told her I was staying at a local B&B and gave her the address where I would be living as of the next week.  She understood what the teller in the first bank did not.   She was in the banking business, not the business of turning away money.

Many people tell stories of how 'impossible' they found it to open an account in the UK without meeting the same requirements as the teller in the first bank told me were required.  Yet I had an account in 1 day.

I did the same when moving to Canada.  Walked in, said I wanted a bank account and would be having a 6 figure amount of CAD transferred into the account by a Forex company, on that same day.  No problem.

What this should tell you AdrianBo is that how easy it will be for YOU to open an account is not a question anyone can answer without knowing far more than just, 'I wanna open an account'.  What it should also tell you is that there is the law and there is what can be done if someone wants to do it and that as always, money talks.

Also....not just having money but resourcefulness and gumption and most of all " dont take what you read" always to be true! Always find out yourself, keep trying....that's what I have to do!

Im quite aure u r right

If  you intend to open a bank account with BOV, go to the Sliema branch. I had an issue that they wouldn't provide me a debit card. I went to the Paola branch and to the Valletta one with no luck. I went to Sliema and solved my issue in less than 10 minutes. The reason is that all of the branches, except some are not used with foreigners. Try the Sliema one

I will live in Sliema so thats the bank iI will go to. Thank u very much!

Whatever the intricacies of opening an account in any one of the banks in Malta, one thing is constant, the rude and arrogant attitude of the staff.

Hello Everyone as all of you know get a bank account in Malta is something complicated and sometimes frustrating, recently Fexserv financial services, launch a Bank and payment pp called Myney, with that you can have a bank account number, a debit card make transactions inside and outside of the island and also send a receive money from western union *the money will go directly from or to your Myney account) an also you are able to pay in different shops of the island or send money to your friends  with your mobile phone!!! the app is available in Google store and apple store apps more info you can find it on www.myney.com

i forgot to mention to open the account you only need your mobile and your id card in hand, you will have your account approved just in minutes! and the best part you do not need to give money to open the account!

I have gone to the BoV branches in St. Julians, St Pauls Bay and Marsa, and have no complaint about any of them. Actually in Marsa they made a mistake which caused a 20 minutes waiting time, and they were genuinely sorry for it and did their best to speed things up.

amcalde wrote:

i forgot to mention to open the account you only need your mobile and your id card in hand, you will have your account approved just in minutes! and the best part you do not need to give money to open the account!

Looking at the website it appears to be nothing more than a prepaid card, not a bank account  and the fees are very high with a fee for everything, even paying money in!
Also not sure about Western Union, even Maltapark warn against using them!

Ray

Hello it is not a prepaid card, its an account check on google store and you will see that the app exist and that is a payment app and not a card that give you all what i am telling you, also on the site you can access to your account and have all what i am telling you

the only kind of high fee is the one of the prepaid card but the rest the fees are low!

about western union, its a safe method to send money everywhere, you have to be careful to send money through it if you do not know the person who you send it thats all!

Hi! And is it NECESSARY to open a maltee bank account in order to work and receive the salari or they usually accept foreigner accounts?
Thanks!

victorvecino wrote:

Hi! And is it NECESSARY to open a maltee bank account in order to work and receive the salari or they usually accept foreigner accounts?
Thanks!

Dont see it being an issue at all.Although there may be fees the employer has to pay so if its a small company they may not be happy doing this. I think I read somewhere you can be paid by a cheque which can be instantly cashed at any bank(not sure about that,maybe someone can confirm?).