Opening a pay account is easy: with Malta Business Pay

Amongst the many positive aspects of Malta that we highlight on a daily basis, there is one critical aspect that has until now represented a brake for those who want to set up a business and work in the archipelago: the difficulty of opening a bank account. In order to bridge this gap the staff of Malta Business has been working on the development of a new service that we are pleased to launch today.

A service that seeks to respond to the difficulties experienced by foreigners in particular, who have to deal with unsustainable procedures and timeframes in order to have a service that should be easily accessible. And who often fail in their ‘mission’ to obtain an account in which to store and protect their assets.

For all professionals, entrepreneurs and employees struggling with these problems the solution is Malta Business Pay, the new network offering online payment tools, current accounts with SEPA Iban and payment card management.

Opening your account is easy! First choose the solution that suits you:

User Account: suitable for natural persons and can be activated within 48 hours. It allows you to activate a Mastercard at no additional cost in countries belonging to the SEPA Community, receive money and make payments to and from anywhere in the world, make urgent payments, obtain a personalised SEPA Iban.

Business Account: designed for the management of a business. It is offered in Start-up, Standard and Professional modes. It allows control of all financial flows, from the supply of products or services to the receipt of payments. All services are developed around a secure and always up-to-date internet platform, accessible 24 hours a day, in compliance with current banking and risk management regulations provided by the authorised financial institution.

Prepaid card: Using a prepaid card to manage your finances is more convenient than using cheques because the funds are immediately deducted from your current account. Applying for one is easy: you can do it directly online from your control panel, you’ll be delivered instantly by just showing an ID, proof of delivery and paying the top-up amount. The system is secure, with several authentication functions and the guarantee of one of the largest circuits in the world. It also allows for total control of flow management, with electronic recording of each transaction as it is made to keep track of what you spend instantly. The Malta Business Pay prepaid card includes Internet Banking, is accepted worldwide and in any currency through any online or offline point of sale that accepts Mastercard®.

Platform payment: A secure, flexible and scalable system. The best payment experience for companies, payment service providers and merchants. Security and flexibility are extremely important priorities when it comes to payments. Guarantee fast and secure payments with simplicity and transparency. We operate under an MFSA license. In 24 to 48 hours all banking services will be active – internet banking – SEPA and extra-SEPA transfers – standard or customized iban.

Malta Business Pay also offers other solutions, which can be found at https://maltabusinesspay.com/.