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Opening of a bank account with Bank of Valletta (BOV)

Eligibility Criteria 

Bank of Valletta (BoV) will consider applications from international students registered at the University of Malta if they are undertaking studies at the University of Malta for at least a minimum period of 6 months. In the event that the study programme is already in progress, the request cannot be considered if the remaining period for the completion of the course is less than 6 months. 
All applications from students, including requests from individuals who are considered to be Politically Exposed Persons are dealt with by the bank on a case by case basis.
The International Office will provide assistance as may be required to students to complete the process but cannot intervene on behalf of the student in the process of consideration or any part of the decision making process that is undertaken by the bank.

Documentation required for the opening of bank accounts  

EU/ EEA Nationals: 

1. Valid unexpired passport 
2. Proof of Student status - letter confirming registration at the University. (refer to relevant section below)  

Non EU/ EEA:

1. Valid unexpired passport 
2. Proof of Student status - letter confirming registration at the University. (refer to relevant section below)  

New Students:

(i) A valid entry visa or in the case of nationals from a country where there is a visa waiver the passport stamp indicating the date of entry.
(ii) Proof of submission of residence permit application
(iii) Sponsored students and students on a scholarship are to provide evidence of the source of funds that will be received (i.e. letter from the sponsor/scholarship body)
(iv) Self-funded or family-funded students are required to provide evidence of source of funds ie: a recent bank statement and basic personal details* of the person who will be funding them 

Current Students:

(i) Valid e-Residence permit 
(ii) Proof of Student status- letter confirming registration at the University.

The Bank reserves the right to request further documentation it may deem necessary. 

Proof of student status and first-stage document vetting by the bank

Following arrival and registration, students are requested to contact their appointed student advisor at the International Office, University of Malta, who will issue a support letter as proof of student status which will be used to open a bank acocunt. Students are to present their passport to the student advisor, and in the case of self-funded or family-sponsored students, a copy of the personal details page of the passport/identification document of the person who will provide funding is also required. The University will pass on this information to the Bank so that the initial screening process is enabled. Once the screening process is completed, the Bank will communicate with the student advising him/her that the screening process is over. Students who are approved for the next stage of vetting are provided with an appointment by the Bank. 

The Bank may refuse to open an account for a student following unsatisfactorily conclusion of the customer due diligence exercise or where the request to open an account falls outside the Bank’s Customer Acceptance Policy and risk appetite. The Bank reserves the right not to disclose to the University of Malta the reason why an application to open an account has been refused. 

Opening of Bank Accounts

Bank Accounts for all international students will be opened at Bank of Valletta’s International Personal Banking Unit (IPB) at 45, Republic Street, Valletta.
New students who apply for a bank account before they are in possession of the e-Residence are required to visit any Bank of Valletta branch and have their e-Residence Permit card scanned on the bank’s IT system once this has been issued. As the International Office would not be aware that a student has received their e-residence permit, it is the student’s responsibility to ensure that this step is undertaken as soon as the e-residence permit is received. 

Termination of studies

Each student will be informed by the Bank of his/her obligation to close the account should s/he decide to terminate his/her studies before the stipulated period or upon completion of the study programme. For this reason students will be asked to provide the Bank with disposal instructions when opening the account. In the case where a student prolongs the study period at the University of Malta, the Bank is to be notified by the student. The International Office can in this case provide proof of the prolongation of studies but it is the student’s responsibility to notify and make any necessary arrangements with the bank before the date originally decided for the account’s closure. 

Students are encouraged to contact the International Office at the University of Malta for further guidance on the above instructions.

*Basic Personal Details 

  • name and surname
  • permanent residential address
  • date and place of birth
  • father's name
  • mother's name and maiden surname, where applicable
  • passport number, country of issue, date of issue, expiry date
  • contact details i.e. telephone number, email address
  • marital status
  • occupation and occupation sector, where applicable
Last Updated: 23 January 2018

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