High bank charges

I recently opened a sterling account with Bank of Valletta. I already have one with HSBC and just to ensure that the BoV account had some initial funds I made a small transfer from my HSBC Malta sterling account to my newly opened BoV sterling...

I recently opened a sterling account with Bank of Valletta. I already have one with HSBC and just to ensure that the BoV account had some initial funds I made a small transfer from my HSBC Malta sterling account to my newly opened BoV sterling account.

Big mistake.

For making the £20 transfer, HSBC actually charged me €12 and when the money arrived at BOV they charged me another £8.40! Thus my £20 transfer actually cost me almost £40!

And this for a transfer from one Maltese bank to another. It’s no wonder bankers are getting richer with these charges.

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