Mark Esnault, St Julians
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 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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Peter Murray
Jan 10th, 10:39
Surely when you opened the account with BoV you deposited "initial funds" to effect its opening?In any event,if the BoV and HSBC had Clearly highlighted these charges then you only have yourself to blame for giving them these banksters the opportunity to rip you off.In mitigation,charges should reflect the cost incurred by the banks to perform the work involved with any excess fees deemed as PROFITEERING -but who in Malta is tasked with ensuring such fair and just costs are applied to consumers?
Alan Kay
Jan 10th, 10:20
Sir, for your future help & guidance : HSBC Global View allows transfer of funds between accounts in any country eg UK to Malta through internet banking, in real time on your screen, at a charge of £5 GBP for transfers up to £10,000 per day. No charge on receipt - in like for like currency.
You must be registered for internet banking in each participating country.
The charges between banks within Malta are a disgrace and you should enquire of BOV what has been the actual cost to it's business of your transfer.
Peter Murray
Jan 10th, 12:06
Why should fees be charged for operating an internet account at all-a fee which apparently is a classic case of ......only in Malta -as they are certainly not charged to a banks' customers in any civilised country.
Peter Murray
Jan 10th, 10:15
The biggest mistake you made was leaving any spare money in any bank!