MeDirect Bank (Malta) plc provides products and services in the areas of retail banking, corporate banking. The range of products offered by MeDirect Bank (Malta) plc includes savings accounts, time deposit accounts (0.50 - 1.00 %), investment accounts, guarantees.
Opening an account with MeDirect Bank (Malta) plc can be done by performing the following steps: completely online.
MeDirect Bank (Malta) plc requires the following documents to open a personal bank account: passport; proof of address; income details; application form.
While opening a bank account MeDirect Bank (Malta) plc has to perform KYC procedure and comply with AML requirements. KYC procedure usually includes obtaining the information about customer identity, residential address, current occupation and source of income. KYC checks performed by MeDirect Bank (Malta) plc and the documents used are outlined below.
MeDirect Bank (Malta) plc may require additional documentation or information depending on the case.
MeDirect Bank (Malta) plc performs identity verification using selfie.
Products and services offered by MeDirect Bank (Malta) plc are available at its branches and via its online banking system, mobile application.
Time deposits accounts are interest-bearing deposit accounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).
MeDirect Bank (Malta) plc offers the following time deposit accounts.
Updated on 20 September 2020
Germany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.
Deposit Guarantee. Time deposit accounts made with MeDirect Bank (Malta) plc are covered by deposit guarantee scheme of Malta up to 100,000 EUR per depositor.
Withholding Tax. Interest income gained on time deposit accounts by non-residents of Malta is not taxed. Interest gained on time deposit accounts by residents of Malta is taxed at 15.00% rate. When the interest is paid, this tax is automatically withhold by MeDirect Bank (Malta) plc from the time deposit account.