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The banking and financial authorities are urging HSBC to reconsider the introduction of a new monthly fee which the Consumers Association believes could impact low earners and pensioners. The Central Bank of Malta and the Malta Financial Services Authority have kicked off discussions with HSBC over the charge for banking services which it is planning on introducing in April. Times of Malta reported that the bank was notifying consumers whether they will have to bear the burden of the €5 monthly fee.  The fee will not be charged to those who deposit at least €2,300 over three months into ...

Updated with HSBC, BOV and APS Bank comments HSBC customers who do not receive their pension or wage directly in their account could be charged up to €60 a year, as the bank introduces a monthly fee, the consumer association has warned. The bank has started notifying consumers whether they will have to bear the burden of a new €5 monthly fee as from April. This fee partially covers the cost of providing a service, which has “increased significantly” as a result of a change in the operating environment, according to the bank. The fee will not be charged to those who deposit at least �...