That has changed. You can open a basic payment account with
HSBC Malta etc now as a Malta resident or EU resident where before you could not. The banks were briefed by Malta government last year I believe to follow EU
guidance on the rights to a basic payment account for EU residents. If you still have issues opening a personal account in Malta report to regulators asap.
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Right to a basic bank account
You may want or need to open a bank account in your home country or in another EU country.
If you are legally resident in an EU country you are entitled to open a "basic payment account". Banks
cannot refuse your application for a basic payment account just because you don't live in the country where the bank is established.
When banks can refuse you a basic payment account
You can be refused an account if you
do not comply with EU rules on money laundering and terrorist financing.
In some EU countries, you may be refused a basic bank account if you
already have a similar account with another bank in the same country.
If you're applying for a basic payment account outside the country where you live, banks in some EU countries may also want you to prove a genuine interest for doing so – for example if you live in one country but work in another.
Features of a basic account
A "basic payment account" is an account that
covers standard transactions that you use in daily life, such as:
- making deposits
- withdrawing cash
- receiving and carrying out payments (for example direct debits and card purchases)
It should also
include a payment card that you can use to withdraw cash and make purchases - both online and in shops.
Where available, the bank should
include access to online banking services with your account. However, they do not always have to include an overdraft or credit facility.
In some EU countries, your bank
might still charge you an annual fee for this basic payment account. This fee should remain reasonable.
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