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Customer Account Fee

Our personal banking tariff is changing

You may be aware that the operating environment has changed significantly in recent years. As a result, the cost of providing our services has increased.

What is changing?

In order to partially cover the costs to serve our customers, for some customers who do not qualify for any of the exemptions mentioned below, we will start charging a €5 monthly fee. To provide sufficient time for our customers to determine their personal choice, the fee shall be applied from the beginning of May 2021, or for customers aged 61 years and over, from June 2021.

How will the fee work?

Every month, starting from May 2021 (June 2021 for customers aged 61 years and over) we will check your accounts and your account activity over the previous 3 months to determine whether the fee will be applied or not.

When applicable, the fee will be debited from your account each month without notice, and will show in your statements.

What are the exemptions?

The fee will not be applied if:

You meet one of the income exemptions:

  • you pay in a minimum of €2300 (€1250 if 61 years old or over), over the 3-month period into any of your current or savings accounts held with HSBC Bank Malta p.l.c. (transfers made between accounts held by the same customer(s) (in both joint and sole name), are not taken into account)
  • you receive a disability, medical sickness or unemployment government assistance benefit paid directly into your HSBC Bank Malta p.l.c. accounts, irrespective of the amount
  • you receive your local Social Security pension (Age, Two Thirds Pension, Widows Pension, or other pension), directly paid into your HSBC Bank Malta p.l.c. accounts, irrespective of the amount
  • a part of your local Social Security pension pays for your home for the elderly expenses and the remainder is paid directly into your HSBC Bank Malta p.l.c. accounts, irrespective of the amount

You meet one of the product exemptions:

  • you hold one of the following products: Home Loan, Home Owner Loan, Personal Loan, or Wealth Products distributed through HSBC Bank Malta p.l.c.
  • you are already paying the monthly HSBC Advance proposition fee
  • you are a student (a customer who is up to 25 years of age and are currently following a full-time program of studies) and hold a HSBC Student Account

You meet one of the other exemptions:

  • you are a minor (a person under 16 years of age)
  • you are a new customer of HSBC Bank Malta p.l.c. (applies for the first six months from the date on which your customer relationship was set up)
  • you are a member of a joint account where any one of the other account holders meets any of the exemption criteria above
  • you only hold a Term Deposit/s account with HSBC Bank Malta p.l.c.
  • you hold a supplementary credit card where the main card holder meets any of the exemption criteria
  • you are registered with the Commission for the Rights of Persons with Disability (CRPD), are not eligible for a Social Security Disability benefit, and have provided us with the relevant documentation
  • you are only in part-time employment with your salary paid into your HSBC Bank Malta accounts, irrespective of the amount, and have provided us with the relevant documentation

FAQs

Customer Account Fee

Product Related FAQs

Pensioners

Persons with a Disability

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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