MeDirect is a fully licensed Maltese credit institution, regulated by the Malta Financial Services Authority (MFSA) and supervised by the European Central Bank (ECB).

MeDirect was established in June 2004 and one year later became a fully licensed Maltese credit institution, regulated by the Malta Financial Services Authority (MFSA).

In July 2009, MeDirect was acquired by new shareholders, a fund managed by AnaCap Financial Partners LLP, a UK private equity firm, and was recapitalised. In September 2014 MeDirect bought Volksbank Malta Limited, a subsidiary of Volksbank Austria providing banking services to the Maltese retail and corporate sectors and incorporated it under the name of Mediterranean Corporate Bank Limited.

In 2017 the activities of Mediterranean Corporate Bank were merged with the existing corporate banking services offered by MeDirect. In 2015, the holding company of MeDirect, completed the acquisition of Charts, a local investment services company, thus further strengthening its presence in the local market.

With approximately  350 employees at Group level in aggregate, we are growing a world-class Tech platform in Malta to support our pan-European operations, currently in Belgium, The Netherlands and Malta.

More information about the Bank's directors can be found on the Leadership page.

The ultimate shareholders of MeDirect are AnaCap Financial Partners II L.P., a fund managed by AnaCap Financial Partners LLP, a UK private equity firm focused on investing in the European financial sector. Senior management of the Bank are also shareholders with a minority stake in the Bank’s equity.

It takes a few minutes to become a MeDirect customer. To apply, just click on the Become a Client button and follow the steps indicated on screen.

To become a customer you must:

• Be over 18 years of age
• Be a resident of an EEA country, Switzerland or the UK
• Hold a valid identification document (ID card or passport)

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.

MeDirect asks this question in order to comply with the Foreign Account Tax Compliance Act (FATCA). This is 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.

If you already hold an account with MeDirect opening additional accounts is quick and easy. Just Log In to your account, click on 'Open an Account', and follow the steps indicated on screen.

If you are not a client of MeDirect you will need to choose 'Become a Client' and follow the steps indicated on screen. Once your application is confirmed, you will just need to Log In, click on 'Open an Account' and follow the steps indicated on screen.

MeDirect offers a range of bank accounts available in multiple currencies which are designed to suit the needs of all our customers.

In addition to standard easy access current and savings accounts, MeDirect offers a range of other types of accounts to help customers manage and grow their money. These include:

Me Savings Accounts which are notice savings accounts of 1, 3 or 6 months, offering different interest rates depending on the notice period.

MeMax Savings Account, which is a higher interest bearing instant access savings account into which customers can deposit up to €2,000 per month, up to a maximum balance of €50,000.

Term Deposit Accounts of varying duration from 3 months up to 5 years, designed to help customers save for the longer term.

To open an account with MeDirect you first need to become a customer. This process can be completed online here.

The MeMax Savings Account is an interest-bearing account which gives you instant access to your money. Interest is paid monthly and compounded into your MeMax Savings Account.

You can deposit up to €2,000 during each calendar month, up to a maximum account balance of €50,000.

Deposits can be made at one go or through multiple transfers throughout the month up to the stipulated €2,000 deposit limit. Once the €2,000 deposit limit is reached during that particular calendar month, no further deposits will be allowed until the new month.

You can withdraw funds from your MeMax Savings Account whenever you want. There is no limit on the amount which can be withdrawn provided the account is sufficiently funded.

Yes, when accounts are available as joint accounts, these can be opened online.

If you are both existing clients and have your online banking activated, the main account holder will be required to initiate the process online. The main account holder will also need to indicate that the account is to be in joint names and providing the joint account holder's client number. The joint account holder will consequently receive an SMS notification, requesting him or her to log in and authorise account opening.

If you are new clients, you would need to click on ‘Become a Client’ and follow the steps indicated on screen for joint accounts.

Some products, such as the MeMax Savings Account are limited to only account per customer. In these circumstances, it is not possible to open a joint account online.

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.

New MeDirect clients are automatically registered for Online Banking. The service is available 24/7 and is free of charge. If you are already a client of MeDirect and would like to register for Online Banking, please call us on (+356) 2557 4400 to request an Activation Code.

You can deposit funds by instructing a bank transfer from an external bank account to your MeDirect account. We also accept deposits by means of cheques and bank drafts.

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. Alternatively, you can select ‘Other’ and write your own topic. Should you require further assistance, 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.

For external transfers (transfers to accounts with other banks), you need to set up the beneficiary details before proceeding with the payment. A ‘Beneficiary’ can be created by clicking ‘Transfer’ on the Mobile App or 'Move Money' through online banking, followed by ‘Manage Beneficiaries’. From here you can create, delete or edit your beneficiaries.

Adding a brief description can help distinguish between transactions when viewing the transaction list in an account’s details page.

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. 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.

You can exchange currencies online by moving money from one account to another that are denominated in different currencies.

The Online Banking platform will provide you with an indicative exchange rate when you click on ‘Estimate’ when inputting the instructions.

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.

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 the payment instructions. Before submitting the payment, tick ‘Would you like to repeat this payment?’ and choose your preferred frequency together with 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 Orders 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.

If you have Standing Orders relating to MeNotices, including scheduled withdrawals, 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 instructions will become null and void.

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. Select ‘To someone else’ and make sure the ‘Execution date’ is future dated. Future dated payments can only be made if the debit and credit accounts are denominated in the same currency.

By selecting ‘Scheduled Payments’ in the ‘Transfer’ tab of the Mobile App and the ‘Move Money’ tab through online banking, you will be able to view all your scheduled payments. You have the option to amend or delete such payments.

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.

Once a Fixed Term Deposit Account is opened, you cannot change the amount deposited, the rate or the term.

By default, unless instructed otherwise by you, funds held in your Fixed Term Deposit will be automatically transferred to your Savings Account or Me Account upon maturity (depending on the account indicated by yourself during account opening). The Bank will notify you on the upcoming maturity of your account.

• Fixed Term Deposit Account: you can opt for your interest to be paid monthly, quarterly, semi-annually, annually or only once at the maturity of the deposit into your Savings Account or Me Account.
• MeMax Savings Account: interest is paid monthly and is compounded into your MeMax Savings Account.
• Me Savings Accounts: interest is paid semi-annually on the last working day of June and December and is compounded into your Me Savings Account unless otherwise instructed.
• Savings Account: when applicable, interest is paid semi-annually on the last working day of June and December and is compounded into your Savings Account.
• Current Account: when applicable, interest is paid semi-annually on the last working day of June and December and is compounded into your Current Account.

You can contact us on (+356) 2557 4400 or send us a secure message if you would like your interest to be paid to a different account if applicable.

Should the Bank announce a change in interest rates, the interest rate on your existing Fixed Term Deposit Account will remain unchanged as agreed upon account opening. Interest rates on Cash Accounts, Savings Accounts, Investment Cash Accounts and MeMax Savings Accounts might change at any time at the Bank's discretion.

For Me Accounts, the Bank will announce changes of interest rates in advance in line with the ‘withdrawal notice period' linked to the specific Me Account.

For more information about the Bank's interest rates please read the Interest Rate Sheet

Yes, you can view and download your statements through Online Banking by clicking on ‘My Accounts’ or ‘My Investments’ and selecting ‘Statements’.

Should you wish to close an account, you can send a secure message through Online Banking providing us with instructions to send any outstanding balance together with any interest due to an account of your preference. Alternatively, you can call us on (+356) 2557 4400. Fixed Term Deposit Accounts cannot be closed prior to the maturity date and Me Savings Accounts require the expiry of their respective withdrawal notice prior to closing these accounts.

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 the notary by filling in the Deceased Form. An administration fee will apply as specified in our Tariffs & Charges Schedule for Retail Banking Services

To be eligible to order a card you need to have a current account in your sole name. Login to the MeDirect App or via Online Banking and go to the Cards tab. Here you will be given the option to choose a virtual or a physical card.

When ordering a physical card, you will be requested to confirm your delivery address as well as create your card PIN. This PIN will be used for cash withdrawals and certain card payments.

Virtual cards are only available for online transactions, while physical cards can also be used in person at point-of-sale (POS) terminals and for cash withdrawals at ATMs.

Upon receiving your physical card, you must first activate it by using the card (by entering your PIN), at an ATM or by making a purchase at a point-of-sale (POS) terminal. The contactless feature will automatically be activated after the first purchase.

When making a payment with your card, the funds are debited from your sole current account which holds the same currency as the transaction. If you do not own a current account in this currency, or you do not have enough balance in this account, the funds are debited from your Euro current account or from the foreign currency current account that holds the highest balance.

Yes, you can use your card wherever Mastercard is accepted. You can also open and fund accounts in multiple currencies; this will enable you to buy the currency you need ahead of time.

Yes, you can make a payment online with both your physical and virtual cards. You might receive a notification on your Mobile app requesting you to authorise the payment being made. If you do not find the automatic pop-up upon logging into the app, you may find the authorisation request in the "More" tab and you would need to choose "Authorisations". Alternatively, you might be redirected to the MeDirect private website to authorise the payment being made.

You can make purchases of up to €5,000 per day. The withdrawal limit from ATMs is €1,000 per day; charges may apply as per our tariffs and charges schedule that can be found here. Contactless payments which do not require a PIN are limited to €50 per transaction. As a security feature you will be required to use your PIN when you complete a total of €100 in successive contactless transactions.

Withdrawing cash from an ATM using your MeDirect card is free of charge for the first €350 per month. After this limit is reached, a fee is charged as per our tariffs and charges, which can be found here.

Yes, the physical card supports contactless transactions. The contactless feature will be activated automatically after the first transaction at an ATM or point-of-sale (POS) terminal.

The most common causes for contactless not working are, either you haven’t activated your contactless feature, or you have exceeded your contactless limit. To activate/reset the contactless function, use your card at an ATM or a point-of-sale (POS) terminal.

Ask the merchant to try the card Chip and PIN option as this is initially required to activate the contactless feature. If the transaction is still declined, try a different ATM or point-of-sale machine, verify that you have sufficient funds and that the card is active by logging in. Should the card still fail you can go to "Settings" and click on "Replace Card". Make sure you invalidate your defective physical card by cutting it into pieces.

Yes, go to the Cards tab on the MeDirect App or via Online Banking and click on “Show details”. The card details you will need to make an online payment will be displayed temporarily. A "Copy card number" feature is provided to easily make use of your details.

To view your card PIN, go to the Cards tab on the MeDirect App or via Online Banking, click on “Settings” followed by “Show PIN”.

To reset your card PIN, go to the Cards tab on the MeDirect App or via Online Banking and click on the “Unlock PIN” button.

We are currently working on enabling the functionality to connect your debit card to digital wallets like Google Pay or Apple Pay. While this feature is not yet available, it will be made possible in the near future.

If your card has been misplaced, go to the Cards tab on the MeDirect App or via Online Banking, click on “Settings” followed by the “Report lost or stolen” card option. Alternatively, contact us immediately on +356 2557 4400.

If you have identified a transaction that you did not carry out, immediately freeze your card by going to the Cards tab on the MeDirect App or via Online Banking and clicking on the “Freeze” button located just under the image of your card. Once done, contact us by secure message or call us on +356 2557 4400.

If you can identify the merchant behind the charge, approach them first. This will give them the chance to resolve the dispute for you. In many cases the retailer can resolve your issue much faster than we can. If you are unable to resolve the matter, you can raise a charge back dispute by sending us a secure message through the mobile app or online banking with the details.

To get a replacement for a damaged card, go to the Cards tab on the MeDirect App or via Online Banking, click on “Settings” followed by the "Replace card" option to replace your card. Make sure you invalidate your damaged physical card by cutting it into pieces.

If your card was taken by an ATM, go to the Cards tab on the MeDirect App or via Online Banking, click on “Settings” followed by the "Replace card" option to replace your card.

You may temporarily block your card by freezing it. To freeze your card, go to the Cards tab on the MeDirect App or via Online Banking and click on the “Freeze” button located just under the image of your card. To unfreeze your card, click on the "Unfreeze" button and authenticate to be able to transact with your card again.

To terminate your card, go to the Cards tab on the MeDirect App or via Online Banking and click on the “Settings” button. The “Terminate” button can be found at the bottom of the list. This will cancel your card upon confirmation.

You will be asked to terminate your card before being given the option to order a replacement.

MeDirect’s team of financial advisors is available to discuss your financial goals and, based on a clear understanding of your financial situation and risk appetite, provide advice on an appropriate investment strategy.

If you are already a client of MeDirect opening additional accounts is quick and easy. You will just need to Log In to your account via desktop or open our Mobile App, click on 'Open an Account' and follow the steps indicated on screen. All the securities that are available on our online trading platform can be traded through the app. The trading experience via the app is very similar to our online platform, so you can use whichever you prefer. All trades made via the app can be seen online, and vice versa. For an overview of trading on the app see our Mobile App User Guide. If you are not a client of MeDirect you will need to choose Become a Client  and follow the steps indicated on screen.

No charges are applicable to open and maintain an Investment Account that allows trading with MeDirect. For more information about fees please read our Tariffs & Charges Schedule for Investment Services.

You can fund your trades by depositing funds in your Current Account, either from another account you hold with MeDirect or from an external bank account. Money in your Current Account can be used to fund your buy orders on a cleared funds basis.

Once you have opened 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:

• Clicking on ‘Trade’ and selecting ‘Place an order’
• Clicking on 'My Investments', selecting ‘Overview’ and click on the button ‘Invest’

You can also place orders through the search tools. This helps you search for investments and enables you to place orders, by clicking on the "Place Order" button located next to each security. The search tools can be accessed directly from the “Trade” menu or by clicking on ‘Browse products’ and selecting ‘Explore investment products’, 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’, clicking on a security and choosing whether you would like to Buy or Sell the security from your portfolio.

You can explore our universe of tradeable securities on our online trading platform by clicking on 'Trade’ and selecting ‘Place an Order’. You can search for individual securities by ISIN, ticker or name, or you can view securities with specific features, using our dedicated filters such as price, specific sector, etc..

If you wish to trade or transfer a security that is not currently available on our online trading platform, please call us on (+356) 2557 4400 or send us a secure mail and we will let you know whether it is possible for the requested security to be added to our universe of tradeable securities.

For shares, the minimum order size is normally one share. For bonds the minimum order size ranges from 1,000 to 100,000 in the currency of denomination. For mutual funds there is no specific minimum order size. The minimum investment level will be disclosed to you in the order placement screen.

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 under ‘My Investments’.  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’.

• You can purchase or sell securities on our Online Trading platform in accordance with the following rules:
• Orders to buy or sell bonds and equities listed on the Malta Stock Exchange are to be placed as limit orders. When submitting a limit order, you will have to provide a limit price. Buy orders will only be executed at a price equal to or lower than the limit price, while sell orders will be executed at a price equal to or higher than the limit price. Such orders will be left pending for up to 14 calendar days after the order was submitted. The part of the order not executed after 14 calendar days will be cancelled. 
• Orders to buy or sell international bonds can be placed as limit orders. When submitting a limit order, you will have to provide a limit price. Buy orders will only be executed at a price equal to or lower than the limit price, while sell orders will be executed at a price equal to or higher than the limit price. Orders for international bonds are Day orders and any part not executed will be cancelled at the end of the day.
• Orders to buy or sell international equities and ETFs can be placed as market orders or limit orders.
  • If you place a market order, your order will be executed at the best available market price in accordance with our Best Execution Policy, which is included as Annex 2 of the Investment Services Terms and Conditions. All orders with be Good for Day, meaning they will automatically expire if not executed by the end of the day when the order was placed.  A “Good for Day” order is an order that is good for that day only, during which time, partial fills can take place. If it is not filled, the order (or any unfilled parts of the order) will be cancelled.
  • When submitting a limit order, you will have to provide a limit price. Buy orders will only be executed at a price equal to or lower than the limit price, while sell orders will be executed at a price equal to or higher than the limit price. When placing limit orders, apart from Good For Day orders, you can also choose to place the order Good Till Date, where you can choose a date up to a maximum of 6 months later till when the order remains valid, or Good Till Cancelled, which means that your order will remain active until you cancel it yourself or until it expires automatically after 6 months. The part of the order not executed after the date chosen by yourself or the 6 months if Good Till Cancelled is chosen, will be cancelled.

A limit order may be split into several orders and executed at different prices during the same business day or any following business day. If your order is only partially filled, and any part of the unfilled portion of the order is completed on subsequent business days, you will be charged separately for each partial order. As a result, the total charge may differ from the original estimate provided.

In the case of securities traded on the Malta Stock Exchange, there may be instances where a minimum amount needs to be held by the investor in accordance with the terms and conditions of the security’s prospectus. In such circumstances, when an order is only partially filled and the minimum holding requirement is not met, the remaining unfulfilled part of the order will remain pending until the trade is settled in full.

A limit price on sell orders must not be more than 5% below nor more than 30% above estimated price. If you would like to submit a sell order with a limit price outside such boundaries, you will need to place your limit order offline by calling us on +356 2557 4400 during opening hours. A limit price on buy orders must not be 5% above nor more than 30% below estimated price. If you would like to submit a sell order with a limit price outside such boundaries, you will need to place your limit order offline by calling us on +356 2557 4400 during opening hours.

As from 3^rd January 2018, in line with the provisions of the second Markets in Financial Instruments Directive (MiFID II), prices on equities and ETFs for limit orders are to be entered in accordance with the applicable decimal price increments (tick size) for the respective financial instrument.

A tick size is the minimum upward or downward price movement of a security and is determined by the stock exchange where the security is traded. For example, if the tick price of a security is EUR 0.01, when submitting a limit order on that security, the limit price that you enter must be a multiple of EUR 0.01 as the price of the security can only vary by multiples of EUR 0.01. Limit orders placed with an incorrect tick size multiple may be rejected. You can check the tick sizes of equities traded on the Malta Stock Exchange by clicking here.

Cancellation of pending orders is subject to the following rules:

• Orders for mutual funds cannot be cancelled.
• Orders for international equities and ETFs can be cancelled from your Online Trading platform by clicking the Cancel button on the Pending trades screen.
• Orders for bonds, local equities and local ETFs can be cancelled by sending a secure mail through your Online Banking.

We cannot guarantee that requests for cancellation of orders will be executed, in particular if such requests have been validly received after the order has already been executed, or if such cancellation is not possible because of the regulation and operational rules of the markets concerned.

Proceeds from sales of investments will be reflected in your Current Account immediately after the trade is executed. The sale proceeds shall be available for withdrawal or further investment once the trade has settled. Proceeds from sales of holdings within the advisory portfolio or MeManaged will be reflected in your Investment Cash Account linked to the portfolio.

The securities in your portfolio can all be viewed in one place by logging onto your Online Banking and clicking on ‘My Investments’ clicking ‘Overview’ and selecting the portfolio you wish to view. 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 prices quoted on the Online Trading platform for international Equities and ETFs are, wherever possible, real-time. The source for prices is cboe.com and are as quoted on BATS exchanges. We do not guarantee their accuracy. These prices are indicative only and not guaranteed at execution.

Bonds and mutual funds prices display previous day closing prices and prices for Maltese Equities are delayed by 15 minutes. These price quotes serve only as an indication of the real-time market price.

The trading platform is available 24/7, but you can trade only on working days during the following hours:

• Equities and ETFs - 8.00am to 6.00pm for European and UK markets, 2.30pm to 10.00pm for US markets (with the ability to place orders from 8 am for execution at market opening).
• Bonds and Mutual Funds - 8.00am to 6.30pm (with the ability to place orders until 10.00pm for execution the next day).

Transaction charges can be found in our Tariffs & Charges Schedule for Investment Services.

No, the custody service is provided at no additional cost.

Your securities will be held in segregated custody accounts with robust, investment grade rated global providers of custody and safekeeping services. Such accounts are held in the name of MeDirect as nominee for its clients.

Our qualified team of investment advisors can help you reach your financial goals by making sound investment decisions. Give us a call on (+356) 2557 4400 to book an appointment, and we will help you get the most out of your money.

You can invest on the following stock markets across the world:

• Malta (Malta Stock Exchange) – Euro, Pound Sterling, US Dollar
• Italy (Borsa Italiana)
• Belgium, France, Netherlands and Portugal (Euronext)
• Sweden (Stockholm Stock Exchange)  
• Denmark (Copenhagen Stock Exchange)
• Finland (Helsinki Stock Exchange)
• Norway (Oslo Stock Exchange)
• Spain (Madrid Stock Exchange
• Switzerland (Six Swiss Exchange) 
• Germany (Xetra)
• United Kingdom (London Stock Exchange)
• United States of America (Nasdaq, NYSE, AMEX, ARCA)

You can trade over 175 bonds on the MeDirect Online Trading platform. These have been selected to provide you with a wide variety and choice and cover the following areas:

• Issuers: governments, corporate, financial institutions, super-national bodies.
• Domicile: Malta, US, Germany, UK, France and many more.
• Maturity: short term (less than two years), medium term (two to five years), long term (over five years).
• Currencies: EUR, USD, GBP and more.

We have a list of over 900 mutual funds in which you can invest in. They cover a range of investment objectives, markets and asset classes in order to help you diversify your portfolio.

You can also make use of a Sustainability Filter to narrow the selection of mutual funds to only those funds that promote environmental and/or social characteristics and may invest in sustainable investments or to those funds that have sustainable investment as their main objective.

You can trade over 350 ETFs on the MeDirect Online Trading platform, covering a wide range of investment objectives, market indices, and asset classes to help you diversify 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 are, therefore, backward looking and do 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. Its 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 outsourced 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.

A Discretionary Portfolio Management Service means that you, as the investor, authorise a portfolio manager to carry out transactions on your behalf. It is important, therefore, that the portfolio manager has a clear understanding of your financial situation, the level of risk you are willing to take and your financial goals when the account is set up. This helps to ensure that decisions taken on your behalf are in line with these objectives.

To provide the portfolio manager with this understanding of your financial goals, you will need to complete an online questionnaire before your MeManaged account is opened. More information on MeManaged is also available in Annex 3 of our Investment Services Terms and Conditions and in the Product Sheet available here.

MeManaged is different in several ways, making it a distinctive product. The most important difference is accessibility. Discretionary Portfolio Management services are usually available only to high-net-worth individuals, requiring a significant initial investment. By setting the minimum investment at €100, MeDirect has made this service much more accessible to retail investors. Additionally, should investors wish to top up their MeManaged account on a regular basis, the minimum investment required is €100 per month. Alternatively, customers can add lump sums to their MeManaged account at their discretion.

The second important difference which makes MeManaged unique in Malta is that the entire process of opening and managing the account happens through the MeDirect website and mobile app, avoiding the inconvenience of having to attend meetings in person.

Opening a MeManaged account is straightforward. If you are an existing MeDirect customer, login to online banking or the mobile app, click on MeManaged under Investment Accounts and follow the steps set out. If you are new to MeDirect, go to the MeDirect website and click Become a Client.

The process of opening a MeManaged account includes an online questionnaire designed to establish your financial goals, risk appetite and sustainability preferences. Once this questionnaire is completed, you will be assigned an investment profile and asked to confirm a MeManaged Discretionary Portfolio Management Service Agreement. 

After the documents are signed, you can execute your portfolio with a minimum investment of €100 and the option to set up regular monthly contributions to the investment. The process of opening a MeManaged account, including the completion of the initial questionnaire can be completed in stages with customers able to save their responses and continue at another time at their convenience. Customers are also able to use different devices and switch from the website to the mobile app during the process.

By opting for a Discretionary Portfolio Management service, you are placing your investment decisions in the hands of highly trained investment professionals to manage your investment.  This frees you to focus on the things you do best.

The fee structure of Discretionary Portfolio Management services is based on the market value of your portfolio, rather than per transaction. In the case of MeManaged, the quarterly management fee is 1.2% p.a. of the portfolio value.

While the customer relationship is solely with MeDirect, the bank has partnered with BlackRock which is the world’s largest fund manager. MeDirect’s team of global investment experts maintain ongoing dialogue with fund managers at BlackRock to ensure that customers are receiving the best possible service.

A Discretionary Portfolio Management service is tailored to your specific financial goals. However, it is not a personalised service. The purpose of understanding your goals and risk appetite when opening the account is to build an investment profile which fits into one of several investment strategies which the fund manager is pursuing. Once you have created your profile, your funds will be allocated to the strategy that best suits your needs, together with the funds of all the other investors whose profile fits into that same strategy.

You can withdraw funds from your MeManaged account at any time through online banking or the mobile app, providing a minimum balance of €100 is maintained. You can also redeem your MeManaged account any time. No additional fees or charges will apply.

If you already have a MeManaged account and would like to set up a monthly contribution or invest a lump sum, log on to your account via the mobile app or online banking platform. Once you have accessed your portfolio, the options to set up a monthly contribution or deposit a lump sum will be visible next to the total current value of your portfolio. Click on the option you wish to pursue and follow the instructions provided.

Yes, you can increase, decrease or delete the monthly contribution to your MeManaged account at any time.

To do this, log on to your account via the mobile app or online banking platform. Once logged on, select ‘Investments’ and then ‘MeManaged’ to access your portfolio. Once you have accessed your portfolio, click on the three dots located to the right of the ‘Add a lump sum’ button which is visible next to the total current value of your portfolio. This will open a menu which gives you the option to either edit or cancel your monthly contribution.

Changes requested until the 27^th of the month will be implemented during the same month while changes requested after the 27^th will be implemented during the following month.

We will debit your account with the agreed monthly contribution amount every 27^th of the month.

Yes, if your goals or circumstances change you can rebalance your portfolio and be assigned a new investment profile. You can opt to rebalance your portfolio at any time, subject to a 24-hour cooling off period. To complete the process, you will need to once again answer the questionnaire given before opening an account.

This will ensure that your new investment profile accurately fits your changed objectives. Following this, a new MeManaged Discretionary Portfolio Management Service Agreement will need to be signed.  All MeManaged clients will be asked to undergo a portfolio rebalancing exercise every five years to check that the investment strategy still matches the customer’s goals.

You will receive a monthly report including market commentary and the outlook for the customer’s portfolio type will also be provided. You can also check the performance of your investment at any time via our online banking facilities.

At MeDirect we promise speedy response times and no processing fees on our home loans. If you are looking to buy your primary or secondary residential property or want to refinance your existing home loan facility, we will quickly assess your eligibility for a home loan. You 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. If you are purchasing a secondary residence, you will need to have saved at least 25% of the property cost.  Our team is on hand to help you finance all the costs in relation to the acquisition, construction and finishing of your property.

When assessing your borrowing capacity, we will look at your overall financial situation. This mainly includes:

• Your current income
• Your financial commitments

Our Eligibility Calculator will help you get a better understanding of the maximum amount you will be able to borrow.

This will be defind depending on which type of residence you are looking to purchase.

	Maximum Loan Amount of the Total Project Cost	Initial Contribution  of the Total Project Cost
Acquisition of Primary Residence	Up to 90%*	10%
Acquisition of Second Property	Up to 75%*	25%

* Terms & Conditions apply.

• A primary residence would be the residence you live in or intend to live in.
• A secondary residence would be the residence you intend to occupy, in addition to the primary residence. Typically this would be your vacation or recreational home.

The Borrower-Based Measures Directive was issued by the Central Bank of Malta (CBM) in March 2019. It aims to protect both the banks and the borrowers from potential financial risks associated with purchasing property.

The Directive sets limits on the amount of money you can borrow and the maximum number of 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 Directive. 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:

• whether the property you will be purchasing will be your primary residence – meaning the property you live in or intend to live in.
• whether you, as a borrower, would have any outstanding home loans on the contract signing date of your new property.

The maximum term for a home loan 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:
Born between 1959 and 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. The APR considers both the interest rate being charged and all other obligatory fees due for the duration of the loan.

Yes, in addition to your monthly repayment, extra repayments can be made on your home loan at any point at no extra charges. Such payments can be requested easily through a secure message via our online banking 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:

• Life Insurance
• House / Buildings Insurance

Additional insurances might be required, depending on the nature of the home loan facility.

You can transfer your existing portfolio of securities apart from complex financial instruments or other financial instruments which we are unable to accommodate for online trading. You can send us a summary of your portfolio or send a duly filled in Asset Transfer Form, and we will analyse your holdings to confirm whether or not we can add the securities you hold to our tradable universe of securities.

We do not charge any fee to transfer your securities from your current broker/financial institution to your account with MeDirect. We will reimburse third party transfer-out fees, up to 0.5% of the total value of the securities being transferred in. Please speak to your Relationship Manager to discuss how MeDirect can assist you in transferring your existing investment portfolio to us.

If you would like to transfer your portfolio, you need to download and send us a signed Asset Transfer Form. MeDirect will liaise directly with your existing broker to arrange the transfer on your behalf.

A corporate action is an event, agreed upon by a company’s board of directors and authorised by its shareholders, that causes material change to the company's securities.

A mandatory corporate action is an event initiated by the board of directors of the corporation that affects all shareholders. Participation of shareholders is mandatory for these corporate actions. An example of a mandatory event would be a spin-off, where part of a company is spun-off to create a new company. If you have shares in the original company, you will receive shares of the new company whilst retaining your original investment.

A voluntary corporate action is an action where the shareholders elect to participate in the action. A response is required for the corporation to process the action. A tender offer is an example of a voluntary event, where a third party wants to buy a portion of equity in your invested company. You will have the option to sell  all or part of your investment. The event could eventually become a mandatory takeover where the third-party attempts to buy the entire share capital leaving you with no option other than to sell.

You should wait for us to contact you. You will receive a secure mail through your Online Banking explaining the type of corporate action taking place and how it affects you.

Certain corporate actions require you to take a decision. If this is the case, we will indicate which options are available to you and confirm the date by which your response must be received.

Your instruction on what action to take must be delivered by return secure mail.

Notifications of corporate actions will be sent via secure mail through your Online Banking. You will also be sent an email alert to let you know that you have a new message to read.

No, it is free to participate in corporate actions.

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:

• Dividend reinvestments/dividend options on international markets. Where possible we will offer this option for listed securities on the Maltese Stock Exchange.
• Company meetings and proxy voting for bonds. Where possible we will offer this option for listed securities on the Maltese Stock Exchange.
• Odd lot offers, e.g. mini tenders.
• Non official offers, or offers that are not supervised or regulated by an official entity.
• French loyalty bonus offers.
• Consent offers. Exceptions may apply depending on the terms of the event.
• Unregulated/unprotected corporate actions offered by third parties.

You can provide your instruction by sending us a return secure mail through your Online Banking. Instructions must be very clear and not be subject to interpretation.

The company's registrar will set a deadline for security holder responses to a corporate action. Our deadline will always be set prior to the company registrar's deadline to be able to manage and process all client instructions on time.

Our investment services are on an 'execution-only' basis. This means we shall not provide personal financial advice about the suitability of an account or an investment you hold within it.

If you have missed the MeDirect deadline then the default instruction option will be applied on your investment.

If you wish to alter an instruction you can contact us on (+356) 2557 4400 or send a replacement secure mail and we will do our best to accommodate your request. If your instruction has already been acted upon, and forwarded to the company's registrar, this may not be possible.

The company's registrar will often set a default option for security holders to be used when no reply is received. We will tend to use the same default option although there may be some occasions when we will set a different default option. We will always communicate the default option on our corporate action notifications to you.

In certain scenarios your investment will be blocked from market trading upon receipt of your submitted corporate action election. An example of this scenario would be a tender offer or a company repurchase offer. Once an instruction is submitted, you will no longer be able to sell your holding.

This will vary, but generally we will not send notifications until the company has sent out the official documentation to shareholders. We will first validate and second source the terms of the corporate action before distributing the information to you. We will continue to forward any updates that effect your corporate action.

If you believe you should have received correspondence from us please call us on (+356) 2557 4400 or send a secure mail through your Online Banking.

Corporate action terms can be found in the official documents issued by the company. These documents are usually published on the official company website, or on the stock exchange website which the company is listed on.

Your investment is safely kept in our nominee account.  This allows us to give you the lowest execution fees under our scalable business model. However, this also means we cannot submit votes or attend company meetings.

The shares / rights will be available for trading once they are visible in your investment portfolio.

Please note there may be a delay of 1 or 2 days in the crediting of rights due to market/operational constraints.

Cash entitlements resulting from corporate actions will be paid straight to your Current Account, in the same currency of denomination of the security. Should you not have a Current Account in the currency of denomination of the security, a new Current Account will be automatically opened to allow the processing of this entitlement.

If you received an entitlement of bonus shares in relation to your investment in a Maltese equity and you wish to request a tax certificate, you can call us on (+356) 2557 4400 or send us a secure mail through your Online Banking.

If you wish to request a tax certificate in order to attach it to your Income Tax Return as proof of tax at source deducted from your dividend, you can call us on (+356) 2557 4400 or send us a secure mail through your Online Banking.

A Model Portfolio is a basket of mutual funds. By investing in a Model Portfolio, you spread your investment over a selection of funds, which helps to mitigate the overall risk of your portfolio. This means that you are able to invest your money efficiently and diversify your portfolio at one go.

The funds are selected based on the ratings given by Morningstar, an independent market leader in investment research. Morningstar’s professional financial analysts determine fund ratings based on past performance, as well as future market projections. Morningstar’s fund evaluation is based on five pillars, which are management team, fund house, investment process, yields and costs. This enables Morningstar to weigh the fund’s potential for outperforming similar funds.

You can start investing in a Model Portfolio by visiting one of our investment centres in Malta or Gozo. If you would like to know more about Model Portfolios, you can call us on (+356) 2557 4400 or send us an email at info@medirect.com.mt

You can start investing in a Model Portfolio from as little as €5,000.

Investing in a Model Portfolio will cost you just 0.5% of the amount invested if this is over €40,000, and 1% of the amount invested otherwise. We do not charge any exit fees or other transaction charges.

The mutual funds that we buy on your behalf carry their own charges that impact your portfolio performance. You would incur the same charges regardless of whether you invest with us or with any other investment manager. We work hard to keep these fund costs as low as we can so you can benefit from better net returns.

You can choose between income and accumulator Model Portfolios. The former aim to provide you with a regular income, while the latter aim to grow the value of your investment over the long term. The income Model Portfolio has a balanced risk profile, while the accumulator Model Portfolio is available in five different risk profiles, from defensive to dynamic. A defensive portfolio contains mainly fixed income funds, whereas a dynamic portfolio mostly contains equity funds. The profit expectations of a dynamic portfolio will be higher than those of a defensive portfolio, but so will the risks associated to it.

It is important that we get to know you and understand your needs before advising which Model Portfolio best suits you. Based on what you tell us about your finances and plans, our investment centre representatives will recommend a Model Portfolio with a suitable risk profile that is tailored to your financial needs. You should still carefully read all the legally required documentation about the funds. These documents include the prospectus, the (semi) annual report and the KIID (Key Investor Information Document). MeDirect will not manage the Model Portfolio for you, and therefore you should check your investment on a regular basis.

Although it is recommended to keep Model Portfolios over a longer term, you may redeem the investment at anytime.

Whenever a dividend is paid on one of the funds included in your Income Model Portfolio, the dividend will be paid to your Current Account where the portfolio is held under execution only or your Investment Cash Account where the portfolio is held under Advisory.

MeDirect’s Mobile Banking service allows you to view your balances and investments. It also gives you the ability to conduct financial transactions and trade directly from your mobile device.

The MeDirect Mobile App offers a convenient way for you to take control of your finances on the go. With your MeDirect app, you can:

• Open savings and fixed term deposit accounts. You can also view your account balances and transactions.
• Explore investment opportunities.
• Place trade orders on a wide selection of investment securities - with real time pricing on equities. The MeDirect app also gives you the functionality to view and monitor your investment holdings
• Transfer funds between your accounts and to third parties.
• Use the authorisation functionality to log in securely onto the online banking platform, verify payments made via eBanking and to verify your identity when calling our support team.

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 accounts to the app. If you are not a client of MeDirect you will need to choose Become a Client and follow the steps indicated on screen.

No, there is no charge for the MeDirect Mobile App. However, your standard mobile phone service and data charges will apply.

Yes, internet banking can still be used. You will receive the usual SMS verification code to access this service.

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: 

• Login to our online banking platform. 
• Click on the “Profile” section on the top right-hand side of the screen 
• Click on “Devices”
• Select 'Send me a code'. This will trigger an SMS code to your mobile. Input this code and select 'Confirm'.
• Scan the QR Code using the MeDirect Mobile App. Alternatively, you can enter the activation code to pair your account.

This 6-digit code will be used to log into your app. 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.

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:

1. 1.  Login to our online banking platform.
2. 2.  Click on the “Profile” icon on the top right-hand side of the screen.
3. 3.  Click on “Devices”.
4. 4.  Follow steps shown.

‘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  on the app anymore.

If your mobile is stolen, unpair the mobile application as soon as possible. To unpair your app, you need to:

1. 1. Login to our online banking platform.
2. 2. Click on the “Profile” section on the top right-hand side of the screen.
3. 3. Click on “Devices”.
4. 4. Unpair Mobile Application. Alternatively, you can call us on (+356) 2557 4400.

For security reasons, you should always unpair your device by using the unpair 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 pair your new 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 device can be paired with your account at any given time.

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 is the account you choose to have displayed first on your homepage. It is also the first account suggested when making a transfer. A gold star will appear next to this account to help you better identify your preferred account. This account can be changed at any time from the 'More' tab.

The balance shown in each account represents your Available Balance.

Kindly contact our Wealth Support Team on (+356) 2557 4400 or at  customerservice@medirect.com.mt to guide you accordingly.

Kindly contact our wealth support team on (+356) 2557 4400 or at customerservice@medirect.com.mt to guide you accordingly.

All mandatory fields must be filled in before being able to proceed with the payment.

You can view your up-coming Me Account transactions, by selecting that specific Me Account and choosing the withdrawals tab.

The ‘Authorisations’ tab is used for logging into the Online Banking platform, verifying payments made via online banking and verifying your identity when calling our support team.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia and Asia. They offer an extensive line of products and services for individuals, financial advisors and institutions. Morningstar is highly respected for their independent investment information. Their strength lies in their independent status, expert research and well tested rating and equity scoring models.

The Morningstar Star Rating is derived from a quantitative method in which mutual funds are ranked on the basis of their historical returns (adjusted for risk and costs) over periods of at least three years. These "risk-adjusted returns" are based on the monthly returns of a fund, where downward variations result in a lower score and a consistently good performance is rewarded with a higher score. Another important aspect is costs, making it more difficult for relatively expensive funds to receive a high star rating.

The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars and the bottom 10% receive one star. Star Ratings are calculated over periods of three, five and ten years.  If possible, Morningstar will also calculate ratings for all time periods in its Overall Morningstar Star Rating.

The Morningstar Medalist Rating is a forward-looking assessment of investment strategies across within funds vehicles, such as funds and managed accounts. The comprehensive system is designed to assess the potential performance and quality of investment strategies within the context of relevant benchmarks and peer group. It takes into account various factors such as historical performance, risk analysis, fund manager expertise, and consistency of investment approach. Open-end mutual funds and ETFs can receive Gold, Silver, Bronze, Neutral or Negative ratings on this scale.

A rating of ‘Gold’, ‘Silver’ or ‘Bronze’ is attributed to investment funds that are expected to perform positively going forward. 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 will be assessed as 'Negative'.

The Synthetic Risk and Reward Indicator (SRRI) was defined in 2009 by the Committee of European Securities Regulators (CESR) to provide investors with a method of assessing a fund's risk.

The SRRI measures the volatility of the fund. Higher volatility means there is greater uncertainty about the size of the changes in a fund's value. This means that the price of the fund can change quickly and dramatically in either direction. Lower volatility means that a fund's value is not expected to fluctuate dramatically, but rather to change in value at a steady pace over a period of time.

The table below shows the mapping between the volatility and the SRRI value. The table shows the differences in percentages that the value of a fund may experience over one year (Annualised Volatility). The percentage is linked to the respective SRRI rating. The more limited the variation is, the lower the SRRI Rating of a fund. The higher the variation, the higher the SRRI Rating.

SRRI	Annualised Volatility
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%
7	25% +

The SRRI is calculated using the fund returns for the last five years. If a fund is less than five years old, the returns of a comparable benchmark are used for the period before the fund was launched.

Fund Selection Process

MeDirect works closely with Morningstar Investment Management Europe (MIME) to define a bespoke fund universe or portfolio of funds to support specific investment goals. The fund selection process is comprised of the following quantitative and qualitative phases:

1. Determining asset allocation

Before selecting individual funds Morningstar looks at the composition of the portfolio in terms of stocks and bonds (the so-called asset classes) and examines its geographical and sectorial allocation. This determines the composition of the portfolio.

2. Quantitative Screening

Morningstar applies a ranking process that considers the Morningstar Risk Adjusted Return benchmark. Other factors that are taken into consideration are:

• Performance consistency – if a manager has consistently performed poorly in three out of the last four calendar years, the fund will typically be removed at this stage. Empirical evidence suggests that long term poorly performing funds will continue to perform poorly going forward.
• Manager Tenure – If a manager has been running a fund for less than three years, they will typically be removed from the selection.
• Style – If the fund displays erratic changes in style, it will typically be removed at this stage.
• Currency – If a multi-regional fund search is undertaken, those funds that do not have an offering in the base currency of the intended users will typically be removed from the selection.

3. Qualitative Evaluation

The purpose of the qualitative selection methodology is to instil discipline into the
manager research process by appraising critical factors that can help determine a fund’s ability to outperform. Funds are evaluated across the five pillars that Morningstar has identified as being
helpful in predicting the future success of funds: Parent, People, Process, Performance, and Price.

• Parent - The culture and structure of an asset management firm can have an impact on its ability to attract and retain talent and the likelihood for it to serve the best interests of fund shareholders.
• People - Evaluating the depth and capabilities of an investment team is critical in attempting to identify funds that have a competitive advantage.
• Process - Morningstar favours managers who employ a disciplined, consistent, and repeatable investment process. Ultimately, Morningstar is looking for traits that give the investment team an edge over its competition.
• Performance - The goal is to identify management teams that in the past have demonstrated skill which we define as the ability to outperform their respective benchmark/peer group on a risk-adjusted basis in a consistent fashion.
• Price - Research indicates that expenses are critical in predicting future fund performance. A fund’s expense ratio should be evaluated within the context of the relevant region and relative to its
  Morningstar peer group. It should also consider the trend in expenses and assets in the fund.

4. Portfolio Construction

Morningstar firmly believes that asset allocation is a primary determinant of investment returns within a global fund portfolio. Hence, an important consideration for our final selection is how the fund will complement the remainder of the portfolio or select list.

All MeDirect accounts are guaranteed up to €100,000 by the Malta Financial Services Authority (MFSA) under the Depositor Compensation Scheme.

The Depositor Compensation Scheme is a rescue fund for depositors of banks which are licensed by the Malta Financial Services Authority and which find themselves unable to meet their obligations towards depositors or have suspended payment. The Scheme is based on the EU Directive 94/19 on deposit-guarantee schemes. The scheme is managed by a single Management Committee which is appointed by the MFSA. For more information, please read the Depositor Compensation Scheme Information Sheet.

Yes, MeDirect is a member in the Investor Compensation Scheme. The Investor Compensation Scheme is a rescue fund for customers of investment firms which are licensed by the Malta Financial Services Authority (MFSA) and are unable or likely to be unable to pay claims against it. Find out more at www.compensationschemes.org.mt.

All client holdings are held in separated client custody accounts with robust, investment grade rated global providers of custody and safekeeping services. Such accounts are held in the name of MeDirect as nominee for its clients and not in MeDirect’s own name. As a result, no matter what happens to MeDirect, all client investment holdings will remain in these segregated client custody accounts and would continue to be held for your benefit.

The following are subject to income or capital gain in Malta:

• Interest income earned on Savings Accounts, Me Accounts and Fixed Term Deposits.
• Coupons paid on bonds’ holdings.
• Dividends paid on equities, ETFs and funds’ holdings.
• Capital gains earned from the sale of international securities.

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.

Interest income earned on Investment Cash Accounts, Savings Accounts, Me Accounts and Fixed Term Deposits is not subject to foreign withholding tax. Income from securities issued by foreign companies may be subject to withholding tax in the country where the security was issued. However, a Maltese investor may benefit from a lower foreign withholding tax rate or be entitled to a refund of foreign withholding tax by virtue of the double taxation agreement between Malta and the country where the issuer of the security is located. We advise you to consult your tax advisor in order to get more specific advice and to assess your overall tax position.

The W-8BEN Form is issued by the Internal Revenue Service (IRS) of the United States of America with the purpose of allowing non-US persons to benefit from a reduced rate of taxation on dividends and coupons paid by US companies. If you wish to invest in US securities, you will have to provide us with a duly signed W-8BEN form. The W-8BEN form is valid for three calendar years after the year in which it was signed and submitted to IRS. A new form must be submitted when the existing one expires or if there is a change in circumstances making any information on the form incorrect.

The W-8BEN form can be completed and submitted digitally by logging in to your Online Banking. Click on 'Profile', choose 'Document Centre' from the dropdown menu and follow the steps indicated on screen.

If you need specific advice and/or assistance in assessing your overall tax position, we advise you to consult your tax advisor.

Maltese tax residents can choose either to have 15% Maltese withholding tax, if any is due, automatically deducted from the gross amounts earned. This includes interest earned from deposit accounts and from dividends or interests earned from your investments. Alternatively, you can opt to not to have Maltese withholding tax automatically deducted at source. We suggest you to consult your tax advisor in order to asses which option is better for you.

You can benefit from foreign withholding tax reduction on income paid on US equities, ETFs and bonds. In order to claim the benefit on your behalf, we need you to submit a W-8BEN Form. We do not offer foreign tax refund services.

The APIs (account aggregation, payment initiation and confirmation of available funds) all relate to PSD2. MeDirect Developer Portal allows third parties licensed by a national competent authority to use Application Programming Interfaces (APIs) to enable them to co-create the best user experience possible.

GDPR stands for General Data Protection Regulation. It is the European Union Regulation which replaced the Data Protection Directive (DPD). GDPR was approved by the EU Parliament on 14^th April 2016 and involves the protection of personal data and the rights of individuals. Its aim is to ease the flow of personal data across the 27 EU member states. GDPR came into effect on 25^th May 2018.

GDPR introduced 8 fundamental rights. These are:

• The right to be informed – Organisations must be completely transparent with regards to how they use personal data.
• The right of access – Data subjects (identifiable people) have the right to access their personal data and supplementary information. This means that you are aware of and able to verify the lawfulness of the processing of your data. 
• The right to erasure (or right to be forgotten) – You are entitled to have your personal data erased or removed without the need for a specific reason as to why you wish to discontinue.
• The right to object – You have the right to object to the processing of your data based on legitimate interests and/or direct marketing and/or processing for scientific, historical research or statistical purposes.
• The right to rectification – You have the right to rectify or complete any personal information that an organisation holds about you.
• The right to data portability – You have the right to obtain and reuse your personal data for your own purposes, across different services. You are also entitled to move, copy or transfer your data from one organisation to another.
• The right to restriction of processing – You have the right to restrict or suppress access to your personal data.
• The right of automated decision-making and profiling – GDPR has introduced controls to protect individuals against the risk that a potentially damaging decision is made without human intervention. For example you can choose not to be the subject of a decision where the consequence has a legal bearing on you or is based on automated processing.

MeDirect developed and implemented a GDPR compliance programme. As part of the programme, different initiatives are carried out on a continuous basis with both customers and employees. These include:

• Updating our Data Protection Policy
• Providing Data Privacy awareness training to all our employees
• Delivering training to employees on how to deal with GDPR requests
• Revising our Privacy Notices, Terms and Conditions and Cookie policy
• Revising our Marketing Consent statements
• Updating our internal policies to ensure that they are in line with GDPR legislation

MeDirect ensures that your data is stored securely. Therefore, we have implemented and constantly updated our technologies to ensure that your personal data is protected from unauthorised access, unauthorised modification or loss.

In instances where a third-party provides a service to MeDirect we ensure that they are contractually bound to implement adequate information security controls, including encryption, to safeguard access to your data. Data provided to those third-parties shall only be utilised for the sole purposes stipulated in the contractual agreement.

We have updated our Privacy Notice to reflect GDPR requirements. The Notice provides an explanation of what information we gather about you, what we use the information for and who we give the information to. The Privacy statement also sets out your rights as a Data subject and provides the MeDirect point of contacts to clarify any questions you might have on Data Privacy.

GDPR requires that at least one of the following six ‘lawful basis’ conditions applies, in order for us to process your data:

• Consent – As a Data subject you must provide clear consent to process personal data for a specific purpose. For the purposes of documentation, your declaration of consent must be obtained in writing, electronically or through a recorded oral statement.
• Contract – Processing your data is necessary to fulfil the obligations of a contract.
• Legal obligation – Processing your data is necessary to comply with a legal obligation.
• Vital interests – Processing your data is necessary to protect someone’s life.
• Public task – Processing your data is necessary to perform a task in the public interest or for official functions. In this scenario the task or function must have a clear basis in law.
• Legitimate interests – Processing your data is necessary for the legitimate interests of an individual or the legitimate interests of a third-party, unless there is good reason to protect the individual’s personal data which overrides those
  legitimate interests.

GDPR requires that at least one of the following six ‘lawful basis’ conditions applies, in order for us to process your data:

• Consent – As a Data subject you must provide clear consent to process personal data for a specific purpose. For the purposes of documentation, your declaration of consent must be obtained in writing, electronically or through a recorded oral statement.
• Contract – Processing your data is necessary to fulfil the obligations of a contract.
• Legal obligation – Processing your data is necessary to comply with a legal obligation.
• Vital interests – Processing your data is necessary to protect someone’s life.
• Public task – Processing your data is necessary to perform a task in the public interest or for official functions. In this scenario the task or function must have a clear basis in law.
• Legitimate interests – Processing your data is necessary for the legitimate interests of an individual or the legitimate interests of a third-party, unless there is good reason to protect the individual’s personal data which overrides those
  legitimate interests.

Your feedback is important to us. If you have a complaint you may email us at complaints@medirect.com.mt, call us on (+356) 2557 4400 or send us a letter to the following address:

MeDirect Bank (Malta) plc
The Centre, Tigné Point
Sliema
TPO 0001
Malta

You may further address your complaint as described in our General Terms and Conditions.

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) the possibility to co-create the best user experience possible.

Click here to find the statistics on the interfaces availability and performance.