So you recently moved to Malta, and now you want to open a bank account?
First of all, do you really need a local Maltese bank account?
This is a companion discussion topic for the original entry at https://nomadgate.com/easy-maltese-bank-accounts/
This is a companion discussion topic for the original entry at https://nomadgate.com/easy-maltese-bank-accounts/
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I enjoyed the article, very thorough. I would add that the PostaPay account can have a maximum balance of 8000€.
You forgot FerratumBank. You can open an account via their app.
I did try Ferratum, but it said they didn’t support Maltese residency. I’ve also heard that they only allow you to open an account if your residency = your nationality. Not sure if that’s still the case.
Which residency did you use to open an account?
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I might have opened the account with german residency. They support changing it to Malta. If you ask them I am sure that you can open it with maltese residency as well.
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Never open bank accounts on Malta. They have closed 3 banks in recent couple years with all the depositors’ funds frozen till this day. Stay away from this mafia island.
Dear Thomas,
Thanks very much for this article, which I have only just seen. We bought an apartment in Malta 3 years ago with the intention of using it when we retire. In the event, plans for early retirement had to be changed and I’m in the strange position of trying to keep a foot in several countries, made more difficult by Brexit. Trying to open an account with BOV was like Monty Python and we gave up, despite having all the papers. I could have tried HSBC, but they got a terrible score in the grading tables - probably due to corruption, money laundering etc. But you’re right that, unless you have employment/salary in Malta, you don’t need a Maltese bank account. I didn’t know about MeDirect, which looks quite interesting, so I will open an account there. Since the Financial Crisis, I don’t trust any bank, and it’s important to spread funds around. Revolut, Monese and Transferwise are great, but it is very important to remember that they are ‘Electronic money Organisations’, not official banks and do not qualify for the 100 000€ guarantee, unlike N26, Bunq, Starling, MeDirect etc, which are registered banks. Keep up the good work! Steve
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Hey I experienced many problems opening account in Malta being non-resident but after hard googling have found info about blackcatcard. I opened the EU account only with my photo and copy of ID. The setup is free. All transactions inside the system are free, instant and unlimited, The issue is that this card isn't very popular and not many people use it. Anyway, top up fee from other cards is just 3,5% so it's ok. Maybe you can recommend it to your clients as well. It also has loyalty program - If you have at least 300 euros deposited on your card and spend at least 200 euros, the interest on your account balance is 2.2% . 0.1% cashback on purchases. So generally I really recommend this card.
By coincidence, I discovered Blackcatcard just recently. The advantage of this account is the Maltese IBAN number, which may be very useful for people who work there and need a MT IBAN for their salary. It looks like it has a strange history. It’s part of Papaya card, which looks as if it’s not offering the card any more. Maybe their marketing team felt that ‘Blackcat’ was a better name to use. A bit of searching reveals that Papaya (Blackcat), is based in Sliema and their cards are issued by IDT Financial Services Ltd, based in Gibralter. IDT has the standard 100 000€ guarantee, but I don’t know if this also applies to Blackcat. Klaus, if you see this reply, could you let me know if they require proof of residence via phone GPS, or is a utility bill okay? I’ve had tons of problems using my phone to prove location in the past!
Just to update about Blackcat card, the more I read, the more nervous I feel. It’s very difficult to find any positive reviews. Based in Malta, card issued by IDT in Gibraltar and presumably just a different version of their Papaya card.
It appears that, in their Malta office, you are allowed to pay cash into your card for a 5% fee: Papaya
The 2.2% cashback is provided by an Estonian company: https://fintechassetsou.com/
Er, 2.2% in these days of negative interest rates, and requiring only a minimum of 300€?
Strangely, they also say that you can buy top-up vouchers for up to 500€ !! Yes, 500€. The link takes you here:
https://mbo-bank.ru/karta-otdelenij/#147
I am sure that they are genuine and absolutely safe to use. 
Hi fellow nomads! I suggest a small update to the article: the PostPay&Save Account now has internet banking! They charge a one-time fee of 15 EUR for the activation of the internet banking. They give you a software token to be used to log-in the Lombard Bank internet banking.