Although there are a wide variety of banking options in Malta, the general consensus is that the larger banks are more efficient at processing applications from foreigners. The two main contenders are therefore Bank of Valletta and HSBC Malta. If you thought you needed a Zen approach to get your E-residence permit, then know that full-on meditation might be required at the bank. Opening an account at the bank your employer uses can be a good way to cut down on the hassle. The requirements vary between banks but you’re likely to need;

• a passport or photo I.D. card,
• a utility bill with your full address (you can use your previous address if necessary, just remember to bring one with you),
• a reference from your current bank,
• a work contract,
• a rental agreement for six months or a preliminary agreement to buy a property,
• an application form

The Maltese bank will contact your current bank to verify your identity and establish your credit rating. And that is where things can go slightly haywire, with some people reporting delays of up to six months (although under a month is the norm). Keep in regular contact with both banks to try to hurry them along. If you’ve been declared bankrupt or have a history of bad debt, that can also complicate matters. Once you get an account open, it might speed things up if you arrange to pick up your new card and pin from the local branch rather than having it posted. For Non-EU Nationals, the process should be the same, but there might be additional scrutiny.

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