Opening a bank account in Malta has become increasingly demanding due to strict KYC and AML requirements. DW&P guides clients through the entire process, leveraging direct banking contacts and knowledge of which banks suit specific business models – from traditional banks like BOV and HSBC Malta to Electronic Money Institutions (EMIs).
Bank Account Opening Malta operates in the Relocation & Infrastructure phase, serving international companies and individuals establishing financial infrastructure in Malta.
Bank Account Opening Malta: Key Facts
Traditional Banks
BOV, HSBC Malta - Full-service banking with physical branches
EMI Alternatives
Wise Business, Revolut Business - Faster onboarding, digital-first approach; Revolut holds full EU banking licence with deposit guarantee up to EUR 100,000
In-Person Requirement
Typically Required - The majority of Maltese banks require at least one in-person appointment for identity verification
KYC/AML Requirements
Strict EU Standards - 5th EU AML Directive compliance mandatory
DW&P Advantage
Direct Banking Contacts - Established relationships with Maltese banks
Bank Account Opening Malta: Our Services
Bank Selection & Matching
Review of business model, transaction volumes, and requirements
Recommendation of the right bank or payment provider (BOV, HSBC Malta, Wise Business, Revolut Business)
Comparison of fee structures, services, and multi-currency options
Document Preparation & Review
Compilation and review of all required paperwork (company documents, business plans, personal identification, bank reference letters)
Pre-submission compliance review against KYC/AML requirements of chosen bank
Source of funds and source of wealth documentation
Accompaniment at Meetings
The majority of Maltese banks require at least one in-person appointment
DW&P arranges the appointment and prepares the client for the meeting
Coordination with other Malta appointments (e.g. notary visit for company formation)
Corporate Account Setup
Corporate account opening for Malta companies and holding structures
Application submission and direct coordination with the bank
Handling of follow-up questions and additional requirements
Personal Account Support
Personal bank accounts for individuals and families relocating to Malta
Coordination alongside the broader relocation process
EMI & Payment Provider Setup
Wise Business, Revolut Business, and other international payment providers
Faster opening for operational banking while traditional bank applications process
Advice on which providers fit the business model (deposit protection, lending, payment costs)
Account Maintenance Guidance
Assistance with setting up online banking and ordering cards
Support with first operational steps once the account is live
Rejection Recovery
Rapid identification of alternative banks or EMIs if an application is declined
Revised application approach for higher-risk business models (e-commerce, crypto)