BOV suspends fees on dormant accounts and minimum balance

Bank of Valletta has announced that it will be suspending fees related to dormant accounts and minimum balance pending ongoing discussions with the Malta Financial Services Authority. 

The Bank said it recognises that some customers may have not received its advance notification in relation to these charges and the Bank is therefore taking appropriate measures.

BOV introduced the fees in September 2020 to recover partial costs of retaining accounts for clients who choose to keep their accounts inactive or with a low balance. Certain categories of customers were excluded from these fees.

In line with its campaign launched in September, Bank of Valletta continues to encourage its clients not using their bank accounts to close them or to opt for a basic payment account which is exempted from such charges.