In order to become a customer you must:
You can send and receive secure messages through our Online Banking by clicking on 'Messages'. Once you are on the default screen, click on ‘Send New Message’. To assist you further, you will be asked to select the most suitable topic from the list of FAQ topics displayed, or select ‘Other’ and write your own topic. After selecting a topic, should these questions still not be of help, click on ‘Chat with an agent’ to get in touch with the MeDirect Team.
You can change your security or contact details by logging on to your Online Banking, clicking on 'Profile' and then selecting the details you would like to change.
Yes, you can instruct us to send a fixed amount of money at regular intervals to an account of your choice. Log in to your Online Banking, click on 'Move Money', choose payment type and insert payment instructions. Before submitting payment, tick ‘Would you like to repeat this payment?’ and choose your preferred frequency and the date for the last payment in the series. You may also view your standing orders online by clicking on ‘Move Money’ and selecting scheduled payments.
If you have Standing Instructions relating to Me Notices, these will be processed on the date scheduled, as you originally requested. After the initial attempt, if the payment is unsuccessful, two further attempts will be made. If still unsuccessful, the standing instructions will become null and void.
If you have Standing Instructions relating to payments to a third party beneficiary, these will be processed on the date scheduled, as you originally requested. If the payment is unsuccessful, you will receive an SMS and secure message stating that the payment has failed.
Yes, you can set up future dated payments for up to twelve months in advance. Through your Online Banking click on ‘Move Money’, choose the payment type and insert your payment instructions. When inputting these instructions, make sure that the ‘Execution date’ is future dated. Alternatively, this can also be done via the Mobile App through the ‘Transfer’ option and selecting ‘Pay someone else’ also making sure the ‘Execution date’ is future dated. Future dated payments can only be made if the debit and credit accounts have the same currency.
You can place a Me Account withdrawal notice at any time for free by logging on to your Online Banking clicking on ‘Move money’ and selecting ‘Me withdrawals’ or at a charge by calling our Wealth Support Centre on (+356) 2557 4400.
Different accounts have different rules for interest payments:
Yes, you can view and download your statements through Online Banking by clicking on ‘My Accounts’ or ‘My Investments’ and selecting ‘Statements’.
Our team of financial advisors will assess your financial situation to make sure your investments are targeted towards achieving your goals.
Once you have opened an Investment Account and accessed your Online Trading platform, you can place an order in a few different ways.
If you know the name, ticker or ISIN of the security, you can access the “Place an order” screen from your dashboard by:
You can also place orders through the Navigator. This helps you search for investments and enables you to place orders, by clicking on the "Buy" button located next to each security. The Navigator tools can be accessed by clicking on ‘Browse products’ and selecting ‘Other investments’, where you can choose any one of the investment categories.
You can also buy or sell securities that you already hold by clicking on ‘My Investments’ selecting ‘Overview’ and clicking on the ‘See details’ button of that specific account. You can then use the Buy and Sell buttons next to each security in your portfolio.
You can explore our universe of tradable securities on your Online Trading platform by clicking on ‘Trade’ and selecting ‘Place an order search’. You can search for individual securities by ISIN, ticker or name, or you can view securities with specific features, such as from a specific sector, with a specific currency, etc.
Once an order has been executed, you will receive a secure message through your Online Banking. You will also be able to download your contract note with all the details of the executed trade from the trade history section, by clicking on ‘My investments’ and selecting ‘Trade history’. Executed orders will be reflected in ‘My investments Overview’, while pending trades will be shown by clicking on ‘Trade’ and selecting ‘Pending trades’. Once executed, these trades will move into the ‘Overview’ section under ‘My investments’.
The securities in your portfolio can all be viewed in one place by logging onto your Online Banking and clicking on ‘My Investments’ selecting ‘Overview’ and clicking on the ‘See details’ button of that specific account. This is where you will be able to find information about the value of your investments, their book cost and an estimate of the unrealised gains or losses related to each security in your portfolio.
The price of a unit of a mutual fund is referred to as the NAV (‘Net Asset Value’). The NAV is calculated by dividing the total net assets of the fund by the total number of units issued. Mutual funds typically update their NAVs at the end of the trading day and the valuation of the assets within the mutual fund are then based on the closing market prices of the fund's securities.
The NAVs published on the MeDirect website for a mutual fund is hence backward looking, and does not act as an indication of the NAV for the following trading day.
Trading in mutual funds is always done on a ‘Forward Pricing’ methodology. Mutual funds transacted during the trading day will receive the end of day NAV as their transaction price. Mutual funds transacted after the market’s close will receive the next day’s forward price. With forward pricing, a mutual fund transaction cannot take place at a previous NAV. It's price can only be based on a value determined after receipt of an order.
The ‘Ongoing Charge’ is a fee applicable to both Mutual Funds and Exchange Traded Funds. This figure, which is usually expressed as a percentage, is an indication of the cost an investor would incur over the year for investing in that fund or ETF. The investor will bear these fees indirectly as the NAV will be negatively impacted by this fee. The Ongoing charge fee includes payments to the management company, payments to persons providing outsources services, registration, regulatory, audit, compliance, legal and professional advisers charges, distribution charges, etc. However this does not include transaction charges as a result of cash inflows and outflows instructed by the investors (entry/exit charges or commissions) nor does it include a performance fee paid to management companies.
If you are looking to either purchase your primary or secondary residential property or else refinance your existing home loan facility, we would be able to assess if we can offer you our home loan product.
You would need to be over 18 years of age, have an income and enough savings to cover at least 10% of the property cost for your primary residence or at least 15% if you are looking to buy your secondary residence.
We will guide and help you finance all the costs in relation to the acquisition, construction and finishing your property.
When assessing your borrowing capacity, we will look at your overall financial situation. This mainly includes:
Our Eligibility Calculator will help you get a better understanding of the maximum amount you will be able to borrow.
This will be defined depending on which type of residence you are looking to purchase.
Maximum Loan Amount
of the Total Project Cost
of the Total Project Cost
Acquisition of Primary Residence
Up to 90%*
Acquisition of Second Property
Up to 85%*
75% (from July 2021)
The Borrower-Based Measures Directive was issued by the Central Bank of Malta (CBM) in March 2019 to protect both the banks and the borrowers from potential damage deriving from the real estate market.
Such measures set limits on the amount of money you as a borrower would be able to borrow and the maximum years you have to fully repay the loan.
After taking into consideration what property you will be purchasing and whether you hold any other home loans, you will be classified in one of the two categories determined by the CBM; each category with its own limitation.
The CBM has defined two categories and you would be classified under one of the two on the basis of:
This depends on the Category you would fall under.
Category 1 – Maximum term of 40 years or the official retirement age. *
Category 2 – Maximum term of 25 years or the official retirement age. *
*Official Retirement Age:
1952 – 1955: 62 years
1956 – 1958: 63 years
1959 – 1961: 64 years
Born after 1961: 65 years
The Interest Rate is the actual rate at which interest is charged on the amount you are borrowing.
APR stands for the Annual Percentage Rate, which is the total cost of your mortgage over its full term, taking into consideration both the interest rate being charged and all other obligatory fees you will be paying for the duration of the loan.
Yes, extra repayments in addition to your monthly repayment can easily be done during the full duration of the loan at no extra charges. Such requests can be easily requested through our ebanking platform.
After the sanction letter is issued and prior to the contract date being set, you will be required to provide us with the original certificates for the following insurances:
Additional insurances might be required, depending on the nature of the home loan facility.
Your investment is safely kept in our nominee account, which allows us to give you the lowest execution fees under our scalable business model. However this means that we have certain restrictions on the corporate action that can be offered. Below are some corporate actions which are currently not offered:
The Morningstar Analyst Rating is a qualitative assessment that is issued by Morningstar fund analysts. This rating represents a forecast on the future performance of funds relative to peers and relevant benchmarks.
In order to issue a rating, the Morningstar fund analysts base their assessment on three pillars: investment team, investment process and fund house. Cost weighted performance is a consideration across all three of these pillars.
A rating of ‘Gold’, ‘Silver’ or ‘Bronze’ is attributed to investment funds that are expected to perform better during a future full market cycle than the category average and risk-adjusted relevant benchmarks. The difference between these ratings is determined by the conviction of the fund analyst with regards to the ability for the fund to outperform its peers. Funds that are not expected to distinguish themselves will receive a 'Neutral' rating, while funds that perform below par on several levels will be assessed as 'Negative'.
|1||0 - 0.49%|
|2||0.5 - 1.99%|
|3||2 - 4.99%|
|4||5 - 9.99%|
|5||10 - 14.99%|
|6||15 - 24.99%|
MeDirect’s Mobile Banking service allows you to view your balances and investments, while also providing you with the ability to conduct financial transactions using your mobile device.
The MeDirect Mobile App offers you a convenient way to take control of your finances on the go. With your MeDirect app, you can:
MeDirect is constantly striving to improve its offering. So, stay tuned for more features.
The service is available to all our existing and new clients. If you are an existing customer, you will need access to our existing online banking services to link your app. If you are not a client of MeDirect you will need to choose Become a Client and follow the steps indicated on screen.
Yes, internet banking can still be used. You will receive the usual SMS verification code.
The MeDirect Mobile App is compatible with smartphones running on IOS version 11 and above or Android version 6 and above.
The MeDirect Mobile App is currently not available on tablets and wearables such as smartwatches.
To download the MeDirect Mobile App, access your Google Play Store (for Android devices) or Apple Store (for Apple devices), search for ‘MeDirect’ and click install.
To pair your device, you need to:
This 6-digit code will be used to log into your app, as well as authorise payments and manage your beneficiaries as an alternative to using facial recognition/finger print scanner. We have placed security restrictions on the passcode for your safety, for example, 111111, 123456 or 654321 will not be accepted by the MeDirect Mobile App. We recommend using a passcode that is as complex as possible and is well-known to yourself.
This is a secondary step for security to prevent any screen readers or people in your vicinity from seeing what you are selecting.
Your passcode can be changed from the ‘More’ tab.
For security reasons, the MeDirect Mobile App will be locked after five wrong attempts.
To reset your passcode, the device will need to be unpaired. To unpair your device, you need to:
‘Unpair device’ is used to deactivate your profile from the app. You will also have to unpair your device from your client profile via online banking. Once this is done, you will not be able to see your information anymore on the app.
If your mobile is stolen, unpair the mobile application as soon as possible. To unpair your app, you need to:
For security reasons, you should always unpair your device by using the upair functionality in the MeDirect Mobile App before changing your device. If you are unable to do so, you can log in to our Online Banking Platform and unpair Mobile Banking from there. You can then proceed to re-pair your device with your MeDirect account.
For security reasons, the app is set to be timed out after 30 seconds of inactivity. This can be increased to 1 minute from the settings section of your app.
For security reasons, only one account per device can be paired with your account at any given time.
Yes, the MeDirect Mobile App supports facial recognition and fingerprint scanning.
The fingerprint scanner and facial recognition might not be working for one of the following reasons:
Biometrics could be switched off from the ‘More’ tab.
Yes. Your personal information is safe with us. We use advanced encryption and monitoring technology and we never store any personal banking information on your phone.
For the ‘Accept’ button to be clickable, you must read and scroll to the bottom of the End-User License Agreement and Terms and Conditions.
A preferred account will be the account you choose to have displayed first on your homepage, along with being the first account suggested when making a transfer.
The gold star near your account refers to your selected preferred account.
Your preferred account can be changed from the ‘More’ tab.
The balance shown in each account represents your available balance.
All mandatory fields must be filled in before being able to proceed with the payment.
This field can help distinguish between transactions when viewing the transaction list in an account’s details page.
You can view your up-coming Me Account transactions, by selecting that specific Me account and choosing the withdrawals tab.
Yes, you can set up future dated payments for up to twelve months in advance, through the Mobile App (Transfer > Pay someone else), if the debit and credit accounts have the same currency.
By selecting Scheduled Payments in the Transfer tab, you will be able to view all your scheduled payments and you will have the option to amend or delete such payments.
A beneficiary can be created by navigating to the ’Transfer’ tab, followed by ‘Manage Beneficiaries’ and press on the icon found on the top right of your screen.
A beneficiary can be deleted by navigating to the ’Transfer’ tab, followed by ‘Manage Beneficiaries’. Here, either select the three dots located next to the beneficiary and choose ‘Delete beneficiary’, or alternatively, select the beneficiary you want to delete and press on the bin icon in the top right corner of the screen.
The BIC is auto-populated if the country chosen is within the EEA.
The ‘MeCode’ tab is used for logging into the Online Banking platform.
Yes, MeDirect is a member in the Investor Compensation Scheme.The Investor Compensation Scheme is a rescue fund for customers of failed investment firms which are licensed by the Malta Financial Services Authority (MFSA). The Investor Compensation Scheme can only pay compensation if a licensed investment firm is unable or likely to be unable to pay claims against it. Find out more at www.compensationschemes.org.mt
The following are subject to income or capital gain in Malta:
MeDirect will pay your income/trade consideration net of withholding tax due and remit the withholding tax to the Maltese tax authority where applicable. Please note that the information above is for guidance purposes only. We advise you to consult your tax advisor in order to get more specific advice and to assess your overall tax position.
The APIs (account aggregation, payment initiation and confirmation of available funds) all relate to PSD2. The technical specifications and Sandbox environment relating to these are available on the developer portal. MeDirect Developer Portal allows third parties licenced by a national Central Bank to use Application Programming Interfaces (APIs) to enable them to co-create the best user experience possible.
Click here to find the statistics on the interfaces availability and performance during the last quarter.