Opening a personal bank account for the first time should be a straightforward process and Bank of Valletta’s new fast-account opening service promises just that.

The BOV Fast-Account Service is available for new customers and could be the ideal solution for pensioners, social security benefit receivers, individuals who are financially dependent on someone else or employees with an annual salary of up to €50,000. It provides new customers with the convenience of opening a savings account even from the convenience of their home over the phone, drastically reducing queuing and waiting time.

“These past few years, opening a bank account has become an onerous process due to stringent regulatory requirements. We are committed to transform our service offering to one that is faster, more straightforward and customer centric,” stated Geoffrey Ghigo, Head of the Branch Network at Bank of Valletta. “The concept behind our new BOV Fast-Account Service is very simple and the onboarding interview is done over the phone.  Following that the customer visits a preferred Branch at an agreed date and time simply to sign the documentation and pick up the account-opening pack.”

“Not every new account opening can be done over the phone, but we estimate that around 80% of new personal accounts can be opened through this express service. Customers benefit because they spend less time at the Bank or waiting in queue,” concluded Ghigo.

To be eligible for this service, one has to be a new customer for the Bank and must not hold any BOV products or services.  Funds deposited into the new bank account have to be earned in Malta and must be deposited through direct credit. Once the account is opened, the new customer will be provided with a free BOV Cashlink Card to pay for purchases and to use at ATMs and BOV Internet and Mobile Banking to carry out financial requirements anywhere at any time of the day.

Further information can be found here.

Issued by Bank of Valletta p.l.c., 58, Triq San Zakkarija, Il-Belt Valletta VLT 1130.  Bank of Valletta p.l.c. is a public limited company regulated by the MFSA and is licensed to carry out the business of banking in terms of the Banking Act (Cap. 371 of the Laws of Malta).

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