Switching to HSBC Bank Malta p.l.c
Switching your account or some banking services from one bank to another is simple.
HSBC Bank Malta p.l.c. (hereinafter referred to as ‘HSBC Malta’) accounts offer a range of great features and benefits:
- Pay in money and take it out whenever you like
- A free International Debit Card
- Make payments to other HSBC and non HSBC accounts
- Send money in Euro to other accounts in the Single Euro Payment Area or in other currencies to any other account
- Free internet, mobile and telephone banking
- Set up direct debits or standing orders
- Receive money in Euro and other currencies
- Free SMS Alerts
Click here to find out more about our range of accounts
How the Switch Service works
If you do not hold a payment account with us, we will help you set up a new account. With your consent we can ask your former bank to send us details of your regular payments (Direct Debits, standing orders and bill payments).
We’ll let your former bank know you’re moving and ask them to close your former account once everything has been transferred safely. Your former bank account will close and any remaining credit balance will be transferred to your new account.
We’ll set up all payment mandates on your new payment account with us. Depending on your preference, we can either inform all your Direct Debit originators and your employer that you’ve moved bank and give them your new details or provide you with the necessary letters to do so yourself.
Ready to switch
If you already have an account set up with us, you can arrange an appointment to visit a branch and we can get you switching. You will need the details of your existing account with your current provider (including debit card numbers) and your identification.
Talk to our staff about switching to HSBC Malta by visiting your nearest HSBC Malta Branch.
Things you need to know
- The service is free to use and you can choose and agree your switch date with us
- We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary)
- If you have money in your former account, we will transfer it to your new account on your switch date
- If there are any issues in making the switch, we will contact you before your switch date
If you are switching your payment account to HSBC Malta, you can contact us to initiate the request. We will ask you to confirm that your direct debit and standing order details are correct, once these are provided by your former bank. If any direct debits and standing orders are initiated by a third party, we/you will need to inform the creditor about your new account details. We will request the former bank to transfer any credit balance to your new account with HSBC Malta, and on your instruction communicate to close the account.
If you are switching out of HSBC Malta into another local credit financial institution, we will send out a list of your direct debits, standing orders within 5 working days to your new bank upon their request. We will transfer out the balance and close the account on the switch date as per communication received from your new bank.
Approved and issued by HSBC Bank Malta p.l.c, (116, Archbishop Street, Valletta VLT 1444). HSBC is a public limited company regulated by the Malta Financial Services Authority and licensed to carry out the business of banking in terms of the Banking Act (Cap.371 of the Laws of Malta). HSBC is licensed to conduct investment services in terms of the Investment Services Act (Cap.370. of the Laws of Malta) and is enrolled as a Tied Insurance Intermediary for HSBC Life Assurance (Malta) Ltd under the Insurance Distribution Act (Cap. 487 of the Laws of Malta).
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