Medirect Bank Malta are blocking accounts.

[Marie Manila]

They had actually also blocked my account since so I got lucky.

Why did they block your account? Were there any reasons mentioned?
I also have an account there and no problems so far.

 

[Martin Everson]

Why did they block your account? Were there any reasons mentioned?
I also have an account there and no problems so far.

They sent me a mail asking to update account details, job, use of account etc etc last year. You may have got the same letter also. I never responded to it so I can only assume that is the reason plus account is now empty. I don't even get the SMS sent to me when I try and login to it.

 

[Marie Manila]

They sent me a mail asking to update account details, job, use of account etc etc last year. You may have got the same letter also. I never responded to it so I can only assume that is the reason plus account is now empty. I don't even get the SMS sent to me when I try and login to it.

I did not receive this letter and my account is working as expected. I can log in and I can receive the SMS.
But I did not try a money transfer recently.

 

[Martin Everson]

I did not receive this letter and my account is working as expected. I can log in and I can receive the SMS.
But I did not try a money transfer recently

So they never sent you a letter, it was like a questionnaire almost? Your lucky then I guess or they are upset I moved my assets.

 

[Tecno]

So guys, any reliable, trustworthy banks in Malta now ? I have an account with FIM Bank by means of easisave.com... Thinking of opening a MeDirect bank account, because of their fixed deposit rates...

I'm a EU resident by the way.

Thanks for your help!

 

[Martin Everson]

So guys, any reliable, trustworthy banks in Malta now ?

Did you just really use "trustworthy", "bank" and "Malta" in same sentence..lol? .

Medirect have come into 21st century with release of mobile app for first time ever. They are are core bank in Malta unlike FIMBank so there is some consolation I suppose.

Are things really that bad out there that a 1.5% rate is good enough to draw you in to a fixed deposit?

 

[Tecno]

Did you just really use "trustworthy", "bank" and "Malta" in same sentence..lol? .

Medirect have come into 21st century with release of mobile app for first time ever. They are are core bank in Malta unlike FIMBank so there is some consolation I suppose.

Are things really that bad out there that a 1.5% rate is good enough to draw you in to a fixed deposit?

Unfortunately so...

But if you have other ideas, please do share!

Also can one really consider any offshore bank, to be trustworthy? Any country better than Malta and with good savings account or fixed term deposits rates and low to no fees?

Thanks!

 

[Martin Everson]

Also can one really consider any offshore bank, to be trustworthy?

You have a point. Most of the major banks have closed down their offshore branches in recent years. You pick a bank, read their financial report, google their reputation, do the sign of the cross 3 times and take your chance.

Any country better than Malta and with good savings account or fixed term deposits rates and low to no fees?

If you find any bank offering high interest rates in euro currency then that is either a desperate bank or a bank in a country not so desirable...which makes it also a desperate bank and why they are offering high interest rates...lol. Change your strategy from term deposits or just take the rates the major banks are offering right now and ride it out. Don't take risks for 0.5% or 1% difference in deposit rates.