How to open a bank account in Malta as a foreigner
Money & work
How to open a bank account in Malta as a foreigner
Quick answer
Foreigners can open a bank account in Malta, but the process depends on the bank, where you live and the type of account you need.
The main options are Bank of Valletta, HSBC Malta and APS Bank for traditional banking, MeDirect for fully online banking with a Maltese bank, and Revolut for fast digital banking.
Most providers ask for identification, proof of address, tax information and evidence of your connection to Malta. Some banks also require a Maltese residence card or permit.
Which bank account should you choose?
The right option depends on whether you need branch access, cash services, local financial products or an account you can manage entirely online.
Bank of Valletta
Bank of Valletta, commonly known as BOV, is one of Malta’s main retail banks and has branches and ATMs across the islands. It may suit you if you want traditional banking, cash services or access to local lending products.
You can begin an application for a personal savings account through the BOV online onboarding portal. For other payment accounts, you normally need to book an appointment.
HSBC Malta
HSBC Malta offers current, savings and basic bank accounts. You can apply online, after which the bank will contact you to arrange a branch meeting and complete its checks.
HSBC also allows foreign nationals to begin the process before arriving in Malta.
APS Bank
APS Bank offers everyday accounts and branch support. You can prepare the application form before your appointment, but it must be submitted to a branch with the required documents.
APS currently requires non-Maltese applicants to provide both a valid Maltese residence card and passport.
MeDirect
MeDirect is a bank licensed in Malta that offers online current accounts, debit cards, transfers, direct debits and savings products.
The application is completed online. To qualify, you must be an adult and a resident of an EEA country, Switzerland or the UK. US persons cannot currently apply.
Revolut
Revolut is a digital bank that can be used for card payments, international transfers, direct debits and salary payments.
Customers registered in Malta normally receive a Lithuanian LT IBAN rather than a Maltese MT IBAN. The account is opened through the app, although additional identity or compliance checks may sometimes be required.
You do not necessarily need to choose only one provider. You may use a digital account for everyday spending and international transfers while maintaining a traditional Maltese account for branch or cash services.
What documents do you need?
Requirements vary between banks, but you should prepare the following before applying.
Identification
You will normally need a valid passport or national identity card.
Additional requirements depend on the bank. HSBC requires a Maltese residence permit from non-EU applicants. APS asks all non-Maltese applicants for a valid Maltese residence card and passport.
Proof of address
Depending on the bank, accepted documents may include:
- A registered rental agreement
- A recent utility bill
- A recent bank statement
- Correspondence from a government authority
- Another official document showing your residential address
If you have recently arrived and the utility bills remain in your landlord’s name, your rental agreement may be the easiest way to prove your address.
Check how recent each document must be. HSBC, for example, generally requires address documents to have been issued within the previous four months.
Proof of your connection to Malta
A bank may ask why you need an account in Malta. Depending on your situation, you may provide:
- An employment contract
- A university acceptance letter
- A registered rental agreement
- Evidence that you own or are buying property
- Self-employment or company documents
HSBC requires an employment contract to have at least six months of validity when it is used to prove that you work in Malta.
Tax and income information
Be ready to provide:
- Your tax identification number
- All countries where you are tax resident
- Details of your employment and income
- Information about the source of the money entering the account
- An estimate of how you expect to use the account
Banks are required to verify customers and understand where their money comes from. They may ask for further documents depending on your circumstances.
EU and non-EU applicants: what is different?
There is no single rule covering every bank.
EU nationals can often apply with a passport or national identity card, although banks will still ask for proof of address, tax details and a reason for opening the account.
Non-EU applicants are more likely to face additional residence document requirements. HSBC requires a Maltese residence permit from non-EU citizens, while APS requires a Maltese residence card from all non-Maltese applicants.
Can you open an account before arriving in Malta?
You can sometimes start the application, but not every account can be opened fully from abroad.
HSBC Malta allows foreign nationals to apply online before arriving. A representative will then explain what is needed to complete the process.
BOV currently offers online onboarding for personal savings accounts. Other types of payment account normally require an appointment.
APS Bank lets you prepare the application form at home, but you need to submit it and your documents at a branch.
MeDirect can be opened online if you meet its residency requirements. Revolut can also be opened through the app if you live in a supported country.
If you open an account before relocating, update your registered address and tax residency after your move.
How long does it take to open a bank account?
There is no standard timeline across all banks.
HSBC says you should receive a decision within ten business days after your branch meeting and once all requested information and documents have been provided.
BOV and APS do not publish a standard approval time. The process may take longer if the bank needs additional documents or cannot verify your identity, address, income or source of funds.
The MeDirect application is completed online, after which the bank performs final checks. Revolut applications are also completed online, although extra verification can delay approval.
Applications for a payment account with basic features must be accepted or refused within ten business days after the bank receives a complete application.
Do not wait until your first salary is due. Start the process once you have the documents required by your chosen provider.
Should you use Revolut in Malta?
Revolut can be a practical option if you need an account you can manage online. You can use it for card payments, transfers, currency exchange, direct debits and receiving your salary.
Customers registered in the EEA receive an LT IBAN for euro transfers.
Your employer can pay your salary into this account. Under European SEPA rules, an employer or service provider should not reject an account simply because its IBAN was issued in another EU country.
How to open a bank account in Malta
The process usually follows these steps:
- Choose the type of account you need. Decide whether you need traditional branch banking, a fully online account or both.
- Check the provider’s eligibility rules. Pay particular attention to residence card requirements if you are not Maltese.
- Prepare your documents. Gather your identification, proof of address, employment documents, tax numbers and evidence of income.
- Submit the application. Depending on the provider, the process may be completed online, started online and finished at a branch, or handled fully in person.
- Attend a meeting if required. Bring the original documents and be ready to explain why you need the account and how you expect to use it.
- Respond to further questions. Approval may be delayed if the bank needs updated documents or more information about your income or transactions.
- Send your IBAN to your employer. Use an official account confirmation document to reduce the risk of errors.
Frequently asked questions
Can I open a bank account in Malta before I arrive?
You may be able to start the process, but not every account can be opened completely from abroad. HSBC accepts online applications from foreign nationals before arrival. BOV’s online onboarding currently covers personal savings accounts. MeDirect and Revolut can be opened online if you meet their eligibility requirements.
Can I receive my salary through Revolut in Malta?
Yes. Give your employer the euro IBAN shown in your Revolut app. Customers registered in Malta normally receive an LT IBAN. An employer should not refuse it simply because it comes from another EU country.
Do I need a work permit to open a bank account?
Not necessarily, but some banks require proof of residence. EU nationals do not need a work permit to work in Malta. However, they still need to meet the bank’s identity, address and tax requirements. Non-EU applicants may need a Maltese residence permit or residence card, depending on the bank.
What if my employer works with a particular bank?
Your employer may recommend a bank, provide a supporting letter or introduce you to a bank representative. This may make the process easier, but the bank must still complete its own checks and decide whether to approve your application.
Can I open a business bank account in Malta as a foreigner?
You can apply, but business accounts follow a separate and more detailed process. Banks normally ask for company registration documents, information about directors and shareholders, proof of business activity, expected transactions and evidence showing where the company’s funds come from. Approval is not automatic and can take longer than opening a personal account.
Which option is best?
There is no single best account for everyone moving to Malta.
Choose BOV, HSBC or APS if you value branches, cash services and traditional banking products.
Consider MeDirect if you want a fully online current account with a bank licensed in Malta. Use Revolut if you want online banking, international transfers or multi-currency features.
Whichever option you choose, prepare your documents before applying. A valid ID, proof of address, tax details and evidence of your employment or income will make the process smoother.
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