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Why digital banking is the future – and how to open an account online

One of the key aspects of online banking is that you can carry out your transactions online, be it through your computer, phone or tablet. In essence, there are plenty of similarities between a traditional brick-and-mortar bank and an online one. However, there are a few differences that make online banks immensely attractive. Read on to find out why online banking is the way of the future.

Easily access your accounts

Let’s face it, going to the bank can undoubtedly eat up precious hours of your time, with travel and parking, queuing and waiting as well as face-to-face interaction. With online banking you can carry out all your transactions from your device. If you encounter any difficulties, the banks offer remote customer service via email or over the phone. Another plus is that online banking offers anonymity – no one will know about your financial transactions since they won’t see you physically carrying them out.

Technological advances

Even though traditional banks are trying to keep up with offering online services, digital banks still lead the way in banking technology. Indeed, online banks often offer features you might not otherwise have access to. These include online payment facilities, easy and organised downloadable reports and easy scheduling of regular payments, to name just a few.

No additional fees

You can access your online accounts without incurring hidden fees. It’s free to sign up for an online banking account.

Always be on top of your finances

Carrying out your transactions at ease from the comfort of your home with no time constrains, is a sure way to help you always be on top of your finances. 

How to open an online account

With an easy-to-use mobile app and an online banking platform designed around your needs, open an online account with MeDirect today! Follow these steps to open a fixed term account online:

  • Become a client

    If you are over 18 years of age, a resident in an EU country and already hold an account with a Bank within the EU, you can easily become a customer in a few steps. You only need to have your identification document and mobile phone handy!

    By clicking Become a Customer on our website, you will be guided through a short questionnaire. You will be asked to input some basic personal data and submit your identification document by either taking a photo of your document or by uploading it directly on the system if you have it saved on your machine. To confirm your identity, you will be asked to take a selfie. Your application is now complete! You would just need to make an initial token payment into your account to activate it.

  • Open an account

    Once your account is activated, you can transfer further funds in and can proceed in opening a number of accounts via the secure internet banking portal.

    Once you log in, you can click on the open an account button located at the top right hand corner. You will just need to follow a few simple steps to get your money working for you.

    1. Choose whether you prefer a sole or a joint account
    2. Select the type of account you would like to open (eg. Fixed Term Deposit)
    3. Indicate the currency you would like to open the account in, the term you would like to tie the money for and the frequency at which you would like to receive your interest
    4. You would then need to choose the account where the interest and the capital at the end of the term will be paid to and select the account from where the initial capital will be taken
    5. Finally, if you are a Maltese tax resident you will be given the option for the Bank to automatically deduct the Maltese final withholding tax – this option is not available for non-Maltese tax residents since tax would need to be paid at the applicable rates of the tax residency country
    6. The account will be opened once you agree to the terms and conditions
  • That’s it!
  • You’re good to go and can enjoy hassle-free, simple banking, while always being on top of your finances from now on, by using the MeDirect digital tools.


MeDirect Bank (Malta) plc, company registration number C34125, is licensed by the Malta Financial Services Authority under the Banking Act (Cap. 371). The Bank is a participant in the Depositor Compensation Scheme established under the Maltese laws. Rate quoted is gross of tax on a per annum basis. Interest is paid into a savings account. Terms and Conditions apply.

Join MeDirect today to access the tools you need to put your money to work on your own terms.

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We strive to ensure a streamlined account opening process, via a structured and clear set of requirements and personalised assistance during the initial communication stages. If you are interested in opening a corporate account with MeDirect, please complete an Account Opening Information Questionnaire and send it to corporate@medirect.com.mt.

For a comprehensive list of documentation required to open a corporate account please contact us by email at corporate@medirect.com.mt or by phone on (+356) 2557 4444.