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ADVICE #235

How to choose a bank in Malta?

Malta is an international banking centre and a real financial hub of the entire Mediterranean. Banking activities are regulated and controlled by the Malta Financial Services Association (MFSA). The Central Bank of Malta heads the entire banking system of the island. Malta has opened many banks, including international representative offices. The oldest and largest banks in Malta are considered to Bank of Valletta and HSBC Bank of Malta. They have the most departments and ATMs on the island. APS Bank and Banif Bank also have a lot of departments. As the local banking sector is directly related to the banking sector in Britain, Malta has enough banks that rightfully claim to be the oldest in Europe. One of the peculiarities of the banking sector in Malta is that accounts servicing here is extremely inexpenisive. Those services that the banks in other countries charge their customers a fee (cash withdrawals at ATMs, transfers between accounts, on-line banking and sms-notification, issue of an additional debit card,etc) are often free of charge in the Maltese banks. Another feature is the checkbooks. They are tied to the current account and issued simultaneously with a debit card. In addition, Maltese banks offer their customers a variety of specialized programs. For example, HSBC Bank of Malta has a program,designed for pupils, students and graduates. Low rates for annual servicing make this program attractive to young people.

Мальта

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