Are you planning to open bank account malta? If so, you have to be ready with the many requirements you need to secure in order to successfully open an account. You have to remember that banks are strict in terms of the requirements they ask from their customers because they want legality all the time, especially that most transactions in banks involve a huge amount of money.
Different banks have different requirements; hence, you have to make sure that you ask the bank directly about their requirements before pursuing bank application to avoid wasting time.
To give you a good head start, here are a few of the most basic requirements bank asks from anyone who is applying to open an account with them:
You definitely have to provide them with an identification card, stating your complete name, age, signature, and the like. Most of the banks in Malta require a government issued ID, so as much as possible, you have to secure one for an easier transaction.
Just in case your name does not match your ID, you can provide documents to prove the legality of the change of name, it can be a marriage contract or something else that made your name changed.
Maltese residence permit is also a basic requirement banks ask from customers opening an account.
Proof of address
Another important paperwork to submit to a bank is documents to prove where you currently live or your permanent address. This can be an electric bill, water bill, or any other bills addressed to you and the address where you currently live.
Payslip or employment contract
The bank may also require you to submit a payslip or employment contract just to prove your capability to deposit money or transact using money.
Your payslip or employment contract may be necessary, although not all banks may require it. Just in case you do not have it, it is strongly recommended that you find a bank that is lenient with this.
Reference letter from either your current bank or employer
Some banks may require a reference letter from either your current employer or bank. This is to attest your capability to do monetary business with them. If you are unemployed, does not have an existing bank account yet, you can let them bank and ask for other requirements to fulfill in the absence of the reference letter.
Money to deposit
Sure, you are opening an account to deposit money. Hence, preparing the money you will deposit is a must. How much do you want to deposit? It does not need to be a huge amount, but should be enough to comply with the bank’s minimum requirement.
You may want to ask the bank about their minimum deposit requirement, so you can prepare. Just in case the bank asks for too high a minimum deposit, you may want to find a different bank that will allow you to deposit the amount that you can afford.