Banks Are Messy, Always!

© creativecommonsstockphotos | Dreamstime Stock Photos

Now I am going to tell you the story about getting a bank account in Malta. My wife and I have been there, done that!

Banks! Why do they always have to be a mess? Nothing ever works the way it should with banks. Also, it seems every time you have something to do with them it is a lot of unnecessary bureaucracy and processes taking to long time. Sometimes it is hard to believe banks want customers?

However, Max Weber defines bureaucracy as both positive and negative. On the plus side, bureaucracy was an improvement over the feudal system. On the negative bureaucracy can become an "iron cage".

In Malta there are several different banks. The main two are HSBC and BOV. There are discussions about which is the worst one because there is no bank in Malta living in the 21st century unfortunately, according to my personal opinion.

I have to give HSBC credit though, for having classy offices compared to many other banks I have seen.

© Bsilvia | Dreamstime Stock Photos

When we came to the island however, we first visited BOV, to get a bank account. But we didn't even
get clear instructions what branch to go to. It was even hard to get in touch with the bank. And the meeting required work contracts, utility bill, rent agreement, certificate from the bank in my home country, etc. Documents expats get in time when they arrive to a new country. However, banks in Malta need them immediately.

However, we all now everything does not always turn out the way we want them to. My wife and I simply took the next step.

The meeting at BOV resulted in no bank account and we booked an appointment at HSBC instead. We tried to get an appointment asap. They said they could fit us in their schedule TWO MONTHS after setting it up. I could not believe the time frame!

But finally we met with the bank and we sat down with HSBC.

The meeting at HSBC required us to bring the same papers as with BOV. But at this point we had Maltese ID cards and our bank officer said when we arrived we could keep the papers. It felt a bit like struggling to get lots of documents for nothing. On top of this the meeting at HSBC was a visit at minimum 4 HOURS!

At least we got an account now. But I don't blame expats coming to Malta choosing to cash in their paycheck every month instead of bother to get a bank account.

I am happy it is done and I don't have to go through the process again for a while.