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) 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.
Maltese tax residents can choose either to have 15% Maltese withholding tax, if any is due, automatically deducted from the gross amounts of interest earned from deposit accounts and from dividends or interests earned from your investments or 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. MeDirect APIs have been available since 31st May 2019 with the exception of Cross Border Payments initiation which will become available at the end of September 2019 and Confirmation of Available funds that will be available in November 2019.
MeDirect’s Mobile Banking service allows you to view your balances and investments, while also providing you with the ability to conduct financial transactions and trade directly from 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:
- view your savings account balances and transactions. You can also copy details such as your IBAN and BIC to facilitate the transferring of funds to your MeDirect account.
- add friendly names for your savings accounts
- view your investment account details and holdings
- explore investment opportunities
- place trade orders at real time pricing
- transfer funds between your accounts and to third parties. You can also add, remove or edit your saved beneficiaries
- open savings and fixed term deposit accounts
- use the authorisation functionality to log in securely onto the online banking platform, verify payments made via ebanking as well as 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 app. If you are not a client of MeDirect you will need to choose Become a Client and follow the steps indicated on screen.