How do I open an account?
You can open an account by visiting one of our branches
. We will assist you with the account opening process, which consists of submitting an account application form, an official identification document (ID card or passport) as well as a proof of address (recent utility bill or bank statement).
If you are unable to visit one of our branches
, you can open an account online, by clicking on Become a Client
from our website.
You will be prompted to provide an official identification document (ID card or passport) and take a picture of your face before filling the on-line application form. Once we have reviewed your application you will be notified by e-mail.
If you already hold an account with MeDirect opening additional accounts is quick and easy. You will just need to Log In to your account, click on Open an account and follow the steps indicated on screen.
Are there any fees to open and maintain an account?
No charges are applicable to open and maintain an account with MeDirect. For more information about fees please read our Tariffs & Charges Schedule for Banking Services
How can I deposit funds in my account?
You can deposit funds by instructing a bank transfer from an external bank account to your MeDirect account. We also accept cheques and bank drafts.
How can I close an account?
Should you wish to close an account, you can call us on (+356) 2557 4400 or send a secure mail through your Online Banking providing us with instructions to send any outstanding balance together with any interest due to an account of your preference. Fixed Term Deposit Accounts and NOW Accounts cannot be closed prior to the maturity date. Me12 Savings Accounts require a twelve months’ withdrawal notice, while Me6 Savings Accounts require a six months’ withdrawal notice, in order to be closed. Me3 Savings Accounts require a three months’ withdrawal notice period and the Me1 Savings Accounts requires a one month withdrawal notice, prior to closing these accounts.
What are the requirements to open an account?
In order to open an account you just need to be aged 18 years or older. Minor accounts may also be opened by visiting one of our branches
Why do I have to mention during the application process if I or any of my relatives hold any public office?
In order to comply with European regulations, MeDirect must apply enhanced due diligence procedures to politically exposed persons. Politically exposed persons are individuals who have been entrusted with a prominent public function or who are closely related to such persons.
Why do I have to tell you during the application process whether I am a US citizen, US resident alien or US tax resident?
MeDirect asks this question in order to comply with the Foreign Account Tax Compliance Act (FATCA), a US law which requires non-US financial institutions to provide the US tax authority (the Internal Revenue Service or IRS) with information on certain US persons with accounts outside of the US. If you qualify as a US person, you cannot apply for an account.
How can I register for Online Banking?
Once you open an account with MeDirect, you can register to use our Online Banking. The service is available 24/7 and is free of charge. In order to register you need to call us on (+356) 2557 4400 or visit one of our branches to request an Activation Code and Client number. Click on Log In on our website and follow the steps indicated on screen.
Can I open a joint account online?
Yes, you can open a joint account with existing MeDirect clients and with new clients. Click on Become a Client and follow the steps indicated on screen.
What are the options to transfer money online?
You can move money between your accounts, to third party accounts with MeDirect or to external accounts. Once you set up a transfer you may also save the beneficiary details for future transfers.
Can I exchange currencies online?
You can exchange currencies online by moving money from a debit account to a credit account that are denominated in different currencies.
How is the currency exchange rate determined?
The Online Banking platform will provide you with an indicative exchange rate. Exchange rates shown in the newspaper and on some currency conversion sites are generally interbank rates available only to banks for high-value transactions. These rates are not generally available to the public. MeDirect’s spread on foreign exchange is low compared to most banks and other exchange rates services providers, and it is transparent since there are no hidden commissions or other charges.
What is the maximum daily amount that I can transfer to another bank through Online Banking?
For security reasons, transfers to an external account and to a third party MeDirect account are subject to a daily limit set by the Bank. Transfers between your MeDirect accounts are not subject to any limit. If you would like to transfer an amount exceeding the daily limit, you will be prompted with a notification to contact our Customer Service Centre, where you will be guided accordingly.
Can I access my account statements online?
Yes, you can view and download your statements through Online Banking by clicking on My Transfers > Bank Statements.
How can I communicate with the Bank online?
You can send and receive secure mail through Online Banking by clicking on Mailbox.
Is it possible to change my security or contact details online?
You can change your security or contact details by logging in to your Online Banking, clicking on Settings and then selecting the details you wish to modify.
Can I set up standing orders?
Yes, you can instruct us to send a fixed amount of money at regular intervals to an account of your choice. If you would like to set up a standing order, you may contact us on (+356) 2557 4400 or send a secure mail through your Online Banking.
What happens to my standing order if there are insufficient funds on my account?
Standing Instructions will be processed on the date scheduled, as you originally requested. After the initial attempt, two further attempts will be made to process the Standing Instructions, when there are insufficient funds in your account.
Can I set up future dated payments?
Yes, you can set up future dated payments up to twelve months, through your Online Banking (My Transfers > Move Money), if the debit and credit accounts have the same currency.
How can I withdraw funds from my Me Accounts?
You can place a Me Account withdrawal notice at any time, for Me1, Me3 and Me6 accounts, whereas you can place a Me12 withdrawal notice after the first three months from the date of account opening. You can place a notice for free by logging on to your Online Banking (by clicking on the Transfers/Statements tab > Me Withdrawals) or at a charge by calling our Customer Service Centre or by visiting one of our branches.
Where and when is the interest earned paid out?
Different accounts have different rules for interest payments.
- NOW Account: all interest is paid 10 working days after opening the account into your Savings Account
- Fixed Term Deposit Account: you can opt for your interest to be paid monthly, quarterly, semi-annually, annually or only once at maturity of the deposit into your Savings Account
- Me1, Me3, Me6 and Me12 Savings Accounts: interest is paid semi-annually on the last working day of June and December and is compounded into your Me Savings Account
- Savings Account: interest is paid semi-annually on the last working day of June and December into your Savings Account
- Investment Cash Account: interest is paid semi-annually on the last working day of June and December into your Investment Cash Account
You can contact us on (+356) 2557 4400, write a secure mail or visit one of our branches if you would like your interest to be paid to a different account.
What happens if interest rates go up or down?
Should the Bank announce a change in interest rates, the interest rate on your existing Fixed Term Deposit Account or NOW Account will remain unchanged as agreed upon opening. Interest rates on other products might change at any time.
The Bank is required to announce changes in the interest rates of the following Accounts, prior to effecting changes, as indicated below respectively:
- Me12 Savings Account: revised interest rates will be effective one year after they are announced
- Me6 Savings Account: revised interest rates will be effective six months after they are announced
- Me3 Savings Account: revised interest rates will be effective three months after they are announced
- Me1 Savings Account: revised interest rates will be effective one month after they are announced
For more information about the Bank's interest rates please read the
Interest Rate Sheet
Once I open a Fixed Term Deposit Account, can I later change the amount, rate or term?
Once a Fixed Term Deposit Account is opened, you cannot change the amount deposited, the rate or the term.
How do I complete a W-9 Form?
You need to submit a W-9 Form
if you are a US citizen, US resident alien or US tax resident. The W-9 Form can be found on our website under Support > Document Centre. The W-9 Form
can be completed in either blue or black ink. If correction fluid (Tip-ex) or correction tape are used the form will be rejected. Please complete the fields as indicated below.
Row 1: Enter your full name Row 3: Check the box which indicates the appropriate tax classification Rows 4 and 5: Enter your permanent address.
Part I: Taxpayer Identification Number (TIN)
Enter your TIN: for individuals this is the Social Security Number (SSN)
Part II: Certification
Sign and date the form, keeping in mind that the US date format is mm-dd-yyyy so for example 25th of September 2012 should be written 09-25-2012.&
Please note that the information above is for guidance purposes only and should be read alongside the official IRS instructions that are available on the IRS website
. We advise
you to consult your tax advisor in order to get more specific advice and to assess your overall tax position.
Will my Fixed Term Deposit/NOW Account be automatically rolled over upon its maturity?
The Bank will send you a letter three weeks prior to the maturity date to remind you of the upcoming maturity of your account. By default, unless instructed otherwise by you, funds held in your Fixed Term Deposit/NOW Account will be automatically transferred to your Savings Account.
What happens if I pass away?
In the event that an account holder passes away, all accounts in his or her name will be blocked until the heirs' notary provides the documentation needed to liquidate the funds, details can be sent to the bank by filling in the Deceased Form
. An administration fee will apply as specified in our Tariffs & Charges Schedule for Retail Banking Services