Uh Oh…Opening a Joint Account in Malta

      

       It’s not so Easy for EU’s Either

 

 

This always happens.  Mr. S. tells me not to do something—and then he ends up doing it himself. But then it’s OK.  (Don’t worry—this is useful information.)

We went to the HSBC branch in Sliema today to open a joint account for the rent.  They’re actually very nice in there. While we were waiting to see an account opener—or whatever they’re called—they asked if we wanted coffee or hot chocolate.

Yes, hot chocolate.

I was so shocked that a bank would offer you hot chocolate that I panicked and said no. Then chocolate withdrawal set in. By the time I finished shaking, it was our turn. Mr. S. had asked me if I really wanted to do the talking because, it seems to him, that I talk around in circles sometimes and I don’t get to the point.

Huh. 

So I told him to give me a signal—instead of interrupting me—by touching my arm if I’m talking to much. 

We sat down, I stated our business in maybe 60 seconds. 

Then we got the info about starting a joint account.  I was all set because I already had an account with HSBC-Malta which I had started about six months before I came to Malta.

Mr. S., on the other hand, had to go through a whole process—even though he’s from the EU and has an account in Germany.

The first question: did he have the elusive Maltese ID card?  The answer was no—and then that meant that the HSBC-Malta Plan B would have to go into effect.

Mr. S. would have to come in with his passport, his bank account and address in Germany and the name of his personal banker. He would have to sign a whole bunch of papers which would then be sent by regular mail—no emails, no faxes allowed—and then wait for all this to be returned by regular mail to HSBC-Malta.

How long would it take?  As long as it took the bank in Germany to complete and return the papers by regular mail.  In other words—it could take a long time.

At that point, Mr. S. started saying, well, did he really have to go through this; after all he was an EU resident; he didn’t really need his own account; we just wanted to get the joint account for the rent; we had to pay the rent six months in advance…in other words, he just started going around in circles and not getting to the point.

So, I touched his arm, then squeezed it hard until he stopped talking—and then I got him out of the bank before he yapped the account person to sleep.

Lessons Learned:

1. If you want to start a bank account in Malta, start the process months before you need to use it. Start in your own country—whether you’re a non-EU or from an EU state.  You’ll still have to go through a lengthy procedure in which the Maltese bank will check your references with your former or other bank.

2. Let the woman do the talking.

 

 

 

Comments

[Sennuwy (an ancient Egyptian name)]

That sounds really good, A--yes, I need some of that... xxx Ilene

[Alexandra Claes]

Why want some?

Just fresh air and love :)

[Sennuwy (an ancient Egyptian name)]

Alex--what are you on? xxx Ilene

[Alexandra Claes]

Woo hoo --- flying free in Panama; lovin' it !!!

What's that ? : Lex Luther is calling me to the bat cave... gotta print the reverse side of the notes ; )

[Sennuwy (an ancient Egyptian name)]

Ugh, Mike--stop it.

[Mike Owen]

OMG Try spending a $50.00 bill here in Panama. Even worse, a $100.00 bill requires all the usual stuff; passport, 17 forms of I.D. and even what color knickers one wears...The ladies anyway. Not so bad for me with no undies.....

[Alexandra Claes]

Chicka, chicka --- BOOM! Just in case you missed the first shot ;)

Everything you have said about HSBC or banking in general in Malta is spot on --- and it is a Maltese thing, not a European thing. It is beyond crazy. But I have to say I am still having a wee giggle over the reasoning of "laundering and terrorism".

So with considerable restraint I will retire to my part time job in the under ground catacomb with my "mint" cap, white tie and matching shoes to crank up the old litho printing press. Pack up my violin case before hitting the airport that I will enter via the "hole" in the surrounding .wire security fencing and I'll be off...!!!

Just hope those enormous flock of birds along the runway don't hinder my departure and blow my cover :)

[Sennuwy (an ancient Egyptian name)]

Go girlfriend! xxx Ilene  And lets not forget the recent research conducted by this blog that shows that men have less brain capacity for words xxx

[Mary Bartolotta]

Steve,
The reason women talk so much more than men is because men don't listen. Therefore, women often have to repeat. Obviously, the reverse is true. Women listen the first time and men don't have to repeat.

[Sennuwy (an ancient Egyptian name)]

Lucky you, Tony--for already having Maltese citizenship. Just go online to HSBC International. Tell them that you want to start an account in Malta and they will advise you.  If you already have a Maltese ID card, you can just walk into any Maltese bank and start an account much faster.  Good luck--Ilene

[Tony Mifsud]

Ilene,

I was going to wait until I was there this summer to open an account. Guess I better start here. How do you and who do you contact? HSBC is fine with me. I live here in the states (NC). Also, besides being a US citizen, I am a citizen of Malta by my parents being born and raised there.

Tony

[Sennuwy (an ancient Egyptian name)]

BANG!

[Steve H.]

Hi Ilene, lessons learned,
1. I know it's all a pain in the A*** , the reasons are all about money laundering and terrorism, and would be the same in any European country.

2.The following is a quote from the British newspaper the Daily Mail so it must be true.
"In fact, women talk almost three times as much as men, with the average woman chalking up 20,000 words in a day - 13,000 more than the average man".

Don't shoot the messenger.