Accounts


Payment Account with Basic Features

A Payment Account with Basic features is a basic bank account that allows consumers legally resident in Malta or in another EU Member State…

Savings Account

A savings account is a type of bank account that allows you to deposit and withdraw money from your account easily…

Current Account

A current account is a type of bank account that allows you to access and use your balance at any moment…

Fixed Deposits

Also known as Term Deposit Account, this type of bank account requires you to keep the amount deposited in the account for a term that can vary between one month and five years…

Opening an Account: Basic Requirements

When you approach the bank to open an account, the bank will request a personal identification such as an ID Card or Passport…

Keeping Track of the Balance in your Account

You can keep track of the balance on your account by means of a statement. This document is sent by the bank to all account holders on an ongoing basis…

Bank Account Switching

If you hold a payment account with a payment service provider (bank or other financial institution) located in Malta you can request a switch to another payment account in the same currency…

Closing a Bank Account

To close an account you will probably need to go to your branch. Be aware that maintaining a balance of EUR 0 will not cause the automatic closure of an account…

Depositor Compensation Scheme

The Depositor Compensation Scheme is a rescue fund for depositors of failed banks which are licensed by the Malta Financial Services Authority (MFSA). It can only pay compensation if a bank is unable to meet its obligations towards depositors…

Bank Fees – Knowing and Comparing

In order to allow consumers to be able to make quick and informed decisions, payment service providers (such as banks) are required to give consumers the information related to their payment account…