Banking in Malta

Account Opening

To open a local bank account in Malta as an expat typically the following documents and information are needed:

1. Identification - Passport and Maltese Residence Permit

2. Proof of Address - Utility Bills / Rental Agreement / Official Correspondence to Maltese address.

3. Proof of Income or Employment - Employment Contract / Payslips (Should the applicant plan to deposit a significant amount the bank will require to explain the source of the funds)

4. Tax Identification Number (TIN) - Tax Number issued in country of origin and Maltese TIN

5. Contact Details - The applicant is required to provide a mobile phone number and email address for communication purposes

5. Bank Application forms

Most banks require the client to apply in person to verify the identity and documents.

After the bank account opening the applicant will be allowed to setup the online banking for easier access and management of funds.

Some banks may require an initial deposit to open the account.

Based on your needs, we research different banks and their account offerings, fees, and services to find one that will suit you the most. HSBC seems to be the most sought after.

FAQs

  • Yes, banks may charge:

    • Monthly maintenance fees

    • ATM withdrawal fees

    • International transfer fees These vary by bank and account type.

  • It typically takes 1–2 business days if all documents are in order.

  • For individuals, the typical documents include:

    • A valid passport or Maltese ID card

    • Proof of address (e.g., utility bill or rental agreement)

    • A completed application form from the bank

    • A reference letter from a previous bank or employer (sometimes optional)