Malta: MFSA Informs Citizens of Banks Offering Basic Payment Account

On December 7, 2018, the Malta Financial Services Authority (MFSA) released an announcement on financial inclusion, informing all Maltese citizens of their right to access to basic banking services and, in particular, the opening of a bank account with basic features.

The authority wising to ensure the proper implementation of the Legal Notice 411 of 2016, transposing into the national legal order the Payment Accounts Regulations, points out that all legally residing people in Malta or another EU member state are entitled to open a bank account with basic features.

Request a Free Trial

As a trusted source of regulatory intelligence for the global payments industry, we enable organisations to manage the growing volume and velocity of regulatory risk with confidence, empowering more informed and effective decision making, in an efficient and cost-effective way.

Take a Trial