HSBC Bank Malta

HSBC Bank Malta is the local retail arm of the HSBC group, and it covers the usual needs of a household or a small business: a place to hold your salary, a debit card that works abroad, a mortgage when you buy a property, and investment and insurance products once the basics are in place. Its banking centre sits in the Central Business District at Qormi, and this directory entry places a branch at Żejtun, in the south-east of the island. The bank's website is written for customers in Malta and offers pages in English, which suits British newcomers.

For UK readers, the practical appeal is a bank that belongs to an international group yet runs its own Maltese products, from a basic account to a home loan. On VisitMalta.co.uk the bank sits in our directory of banks in Malta, which is the best place to compare the options before you decide where to open an account.

Everyday accounts for different customers

Personal accounts are grouped into tiers. HSBC Premier is the top tier, with a global debit card, free phone and online banking, access to the bank's ATM network at no charge to the account holder, and travel and purchase protection insurance included. You have to qualify for it. HSBC Advance sits below Premier and is open to existing Advance customers for its debit card, which also brings free phone and online banking and no charge for withdrawals at the bank's own ATMs in Malta or abroad. Other banks may charge for using their machines.

There is a graduate version of Advance and an HSBC Student account for younger customers, plus a current account and a basic bank account for people who want something simple. A switching service helps customers moving across from another bank. For savings the range includes a standard savings account, an online savings account and a term deposit account, where money is placed for a fixed period.

New cards and PINs arrive within seven working days of an application, though postal delays can add time. A fee-free international debit card is available to people aged between 13 and 25, and there are Premier, Advance, Mastercard and Visa credit cards, including a supplementary card for a second user.

Home loans and borrowing

Borrowing starts with personal, car, home improvement, student and energy efficiency loans, along with overdrafts. The headline product for people buying property in Malta is the Classic Home Loan, designed for a main or second home. The bank lends up to 90 per cent of a property's value for a primary residence and up to 75 per cent for a second residence, subject to its internal lending criteria. The processing fee is waived on this loan, although the legal processing fee and the booking fee, where it applies, still have to be paid. Buy-to-let and HomeOwner loans sit alongside it, and there is an online route for drawing down funds after the final deed is signed.

A first-time buyer loan can run for up to 40 years but has to be repaid in full by retirement age. The bank quotes variable rates as a margin over its own home loans base rate, so the rate moves if that base rate changes, and it expects borrowers to hold life cover and buildings insurance for the property. Applicants should have recent payslips and an FS3 tax form if employed, or two income tax returns if self-employed, a Maltese identity or residence card, the preliminary agreement or deed for the property and a valuation by the bank's appointed architect. Those still researching the process may find our guide to relocating to Malta from the UK useful, along with our guide to Malta tax for UK nationals.

Anyone struggling to meet payments is asked to contact the bank early so that it can look at ways to help.

Investments, pensions and insurance

The wealth side of the bank offers financial advice and wealth management, remote financial planning, a risk tolerance questionnaire, savings calculators and a wealth dashboard. Its investment range includes unit-linked investments, the World Selection portfolios, responsible investment funds and a set of locally managed funds covering Maltese government bonds, Maltese assets, international bonds and equity growth. For people planning ahead there are workplace pension plans and a retirement pension plan. The information here describes what is offered and is not advice, so speak to the bank's advisers about suitability.

Insurance covers life insurance, critical illness cover, loan insurance, travel insurance and building insurance, and life claims are handled by HSBC Life Assurance (Malta) Ltd. Policy changes, cancellations and claim notifications can be dealt with at a branch, and the bank operates a dedicated claims team for claims. If you are weighing up the wider market, the directory also lists AIB Insurance Brokers for independent cover.

Digital banking, payments and security

Customers can bank online, through a mobile app with fingerprint or face recognition on the device, or by phone. Online transactions are protected by a Secure Key, a small device linked to the customer that produces one-time codes, and card payments online use two-factor authentication. The bank also runs a security centre explaining how to avoid fraud and what to do about unrecognised transactions, and a Move Money guide shows customers how to send payments step by step. Anyone who has not used Maltese banking before will find this a gentle introduction, because the help pages cover everything from activating a new card to finding an IBAN and viewing statements online.

For payments, an IBAN identifies the account and the bank's BIC is MMEBMTMT, so there is no separate sort code. Money sent through online banking or the app is converted at live foreign exchange rates, while transfers made in a branch or by phone use the rate at the time. International currency accounts, global transfers and a Global View service help people who keep money in more than one country, while mobile alerts and mobile top-ups cover everyday needs, and our guide for digital nomads in Malta explains why many remote workers consider that arrangement.

If a card goes missing, call the bank at once. It cancels the card immediately and sends a replacement card and new PIN separately within seven working days. Disputed card payments need a dispute form and supporting evidence to reach the bank within 60 days of the transaction.

Branches, contact routes and complaints

The banking centre is at 80 Mill Street in the Central Business District, Qormi. The site refers visitors to a branch finder and to Express Banking locations for the nearest office, and an appointment with a bank official can be requested online. Phone lines for retail banking run from 08:00 to 16:00, excluding Sundays and public holidays, and Advance customers have longer hours on weekdays. Complaints can be made in English or Maltese. The bank acknowledges them within 48 hours and aims to reply within 10 working days, and customers who remain unhappy can write to the Office of the Arbiter for Financial Services in Msida.

Visitors who combine a banking appointment with sightseeing can explore our Valletta guide, or use our guide to where to stay in Malta to choose a base. Businesses that need more than a retail bank can look at CLA Malta for company, tax and relocation work, or read about financial services in Malta more generally.

How to start

The bank's website invites new customers to apply online, and the Become an HSBC Customer page walks through the steps. If you would rather talk to someone, you can request an appointment at a preferred branch. Please use the VisitMalta.co.uk enquiry form on this page, tell us what you want to do, and we will pass your message to the bank. Never put account numbers or other confidential details in that message.