Switching to MeDirect Bank (Malta) plc.
Switching bank accounts does not need to be stressful. MeDirect accounts offer a range of great features and benefits:
- A free online account
- A free international Mastercard® Debit Card
- The ability to manage all your accounts from the MeDirect mobile app and online platform
- The facility of opening and managing accounts in EUR, GBP, USD, AUD, NOK, CAD, CHF, JPY, DKK and SEK
- Transfer funds online without any additional charges
Become a MeDirect client
If you do not hold an account with MeDirect, you can apply to become a client by clicking here. The process is completely online, and once your application is confirmed, your account will be automatically opened.
How does the Switching Service work?
Switching your account or some banking services from one bank to another is simple. You can switch your account to MeDirect (receiving Bank) from another Bank (transferring Bank). Within this user guide, you will find all the steps that are to be followed to switch your account.
Things you need to know:
- The service is free to use and you can choose and agree your switch date with us
- We will take care of moving all your payments going out (for example, your standing orders). MeDirect does not currently offer the service of direct debits and hence we will not be able to move any direct debit mandates you might have in place
- We will also take care of moving all your payments coming in (for example, your salary)
- If you have money in your former account, we will transfer it to your new account on your switch date
- If there are any issues in making the switch, we will contact you before your switch date
Further information
Switching in
If you are switching your payment account to MeDirect, you can contact us to initiate the request, by submitting a written authorisation to give consent to start the procedure of switching all or some services from the transferring bank to MeDirect. MeDirect accepts receiving the forms in a digital format but would still require the originally signed hard copies to be able execute the instructions.
We will ask you to confirm that the details provided by your former bank are correct. If any direct credits and/or other instructions are initiated by a third party, we/you will need to inform the creditor about your new account details. We will request the former bank to transfer any credit balance to your new account with MeDirect, and on your instruction communicate to close the account.
Switching Out
If you are switching from MeDirect to another local credit financial institution, we will send out a list of your account instructions within 5 working days to your new bank upon their request. We will transfer out the balance and close the account on the switch date as per communication received from your new bank.
Documents
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