Opening a bank account in Malta is easy for expats and international residents. The rules have changed, making it simple for non-residents to open accounts. Services like MeDirect offer digital banking, making it easy to start an account online.
This is great for people from the EEA, the UK, or Switzerland. They can open accounts online without needing to show they live there. This makes getting a bank account in Malta easy. For more info, check out this guide on easy Maltese bank accounts.
Opening a bank account in Malta without residency is very flexible. It’s a good choice for expats. Even though some UK banks have rules, international banks like Santander keep accounts open for those moving abroad. This is helpful for UK expats moving to Malta.
Why Open a Bank Account in Malta?
Opening a bank account in Malta has many benefits, mainly for expats. The country’s tax rules are very favorable for those not living there. This can lead to big savings for people abroad. Also, setting up direct debits for local payments is easy, making money management simpler.
For expats, a Maltese bank account is key for big financial tasks. It helps with mortgage applications and buying property. Malta’s financial services are top-notch, with products for all kinds of financial needs. For example, MeDirect offers great services for international clients, like multi-currency accounts and online banking.
| Bank | Established | Specialization |
|---|---|---|
| Bank of Valletta | 1974 | Retail, Business, Corporate Banking |
| HSBC Malta | – | Commercial, Global, Retail Banking |
| APS Bank | 1910 | Retail Banking |
| FIMBank | 1995 | Trade Financing, Factoring |
| MeDirect Bank | – | Savings, Wealth Management, Investments |
| Lombard Bank Malta | 1955 | Personal, Business, Private Banking |
| BNF Bank | – | Retail, Business, Corporate Banking |
| Sparkasse Bank Malta | – | Private Banking, Investment |
| Multitude Bank | 2012 | Retail, SME Banking |
| Izola Bank | – | Custom Financing for SMEs |
For those looking for other options, Wise offers great solutions for managing money in different currencies. This is super helpful for expats because it saves money and is easy to use. Overall, Malta’s banking benefits and financial services make it a great place for people worldwide to manage their money.
Guide to Open Bank Account Malta Even Without Proof Residency
Opening a bank account in Malta as a non-resident has specific steps. Luckily, many banks have options for non-residents. Here’s a quick guide on opening a bank account in Malta without proof of residency.
- Identification: Show a valid ID like a passport or national ID. This is key for non-resident banking in Malta. Even if you’re outside Malta, banks might ask for proof of address.
Showing you can manage your money is important. Banks might ask for income statements or employment contracts. They might also want an initial deposit. The amount needed varies, so it’s good to check with the bank.
- Online Banking Solutions: Many banks offer online banking Malta options. For example, MeDirect makes it easy online. You just need to upload your ID documents quickly.
Expats have many choices. Banks like BNF Bank and Bank of Valletta are favorites among expats. They need more paperwork but offer great financial services for non-residents in Malta.
- Digital Banking Alternatives: Think about digital banks like Wise and Revolut. They’re flexible and easy to use, perfect for those who don’t need to prove residency. N26, a big digital bank in Europe, makes it easy to verify your ID through their app. This is great for those outside Malta.
Finding the right bank for opening an account in Malta without residency proof is easy. Whether you like traditional banks or digital banking, Malta has something for everyone. It makes banking accessible for all.
Top Bank Choices for Expats in Malta
Several banks in Malta stand out for expats, each meeting different financial needs. MeDirect is great for those who love digital banking. It offers modern banking solutions that are perfect for online management. This bank is ideal for expats who prefer digital platforms.
BNF (Bank of Valletta) is perfect for those who prefer a traditional banking experience. It may require initial deposits, but BNF offers a wide range of services. This bank is great for those who value face-to-face interactions and a physical bank presence.
Bank of Valletta (BOV) is the largest bank in Malta, catering to expats with complex banking needs. It offers a wide range of services. BOV is perfect for managing complex financial needs with its international banking options.
HSBC is another top choice for expats, known globally for its reliable services. It might have stricter requirements for non-residents. This bank is ideal for those who need international banking options and value global recognition.
For more detailed insights, check out this guide on top international business banks.
