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Tariff of Charges
Tariff of Charges
Changes in Tariff of Charges
Over the past years, Bank of Valletta has significantly invested in its technological infrastructure in order to digitise its banking services which are today, in their majority, available through internet banking mobile banking and mobile pay channels. This digitalisation journey is driven to improve the service experience of our customers by providing cost efficient digital banking solutions and at the same time minimise operational costs related to manual-intensive banking services which have been steadily increasing over the past years. 

Within this context, with effect from 1st September 2020, the Bank will be revising its Tariff of Charges as per list below. All other charges and fees not listed below remain unchanged.  You can also download a copy of these changes.

Bank Accounts and Related Services
Cheque Based Payment Services
Coin Exchange Services
Payment Services
BOV Card Services


Bank Accounts and Related Services Tariff up to 31 Aug 2020 Tariff as from 1 Sep 2020
Dormant Account 

A Deposit account that has not been used / idle / no financial withdrawals or deposits effected for 2 years. 

Does not apply to Young Savers Accounts, Basic Payment Accounts, Portfolio Investment Accounts or Fixed Term Deposit Accounts
 €0.00
€35.00 per annum per account
Combined Accounts Average Book Balance less than €200.00

Applies to Savings Accounts and Call Accounts domiciled in euro or foreign currency e.g. €200.00, GBP200, USD 200 etc.

Does not apply to BOV Club Accounts, Young Savers Accounts and Basic Payment Accounts.

 

 

€0.00
€10.00 per quarter per customer

Charge is per customer and applies if the combined average book balance of all Savings and Call Accounts held by customer during the previous quarter is less than €200.00.  

EXAMPLE: I have 3 savings accounts – I must have a total of €600. These can be placed in different amounts across my 3 accounts such as Account A €100, Account B €150 and Account C € 350
Early Closure Charge
Account is closed by customer within 0 to 6 months from opening date
€0.00
€10.00
Request for up-to-date paper statement (update from the last official statement issued) 

Additional requests for paper statement:
Over the counter or through digital channels (24x7)
Monthly request - free 

€1.16 per statement
Monthly request - free

€1.50 per printed statement
Request for back-dated paper statement  

Additional requests for paper statement:
Over the counter 

Through digital channels (24x7)
 

€1.16 per printed page


€0.93 per printed page
 

€1.50 per printed page


€1.25 per printed page
Declarations Issued by Bank (plus VAT) 
€0.00
€25.00
Non-Personal Account Maintenance Fee 
Applies for non-personal customers who have a Current, Call or Savings accounts
€0.00  €10.00 per month
Charge is per non-personal customer and not per account

Minimum Balance of accounts 
Currently savings accounts must be opened with a minimum deposit of €200.00. This condition will now also include that each Savings Account must have an ongoing minimum book balance of €200.00. It also applies to Savings accounts domiciled in foreign currency e.g. GBP 200, USD 200. Does not apply to Young Savers Accounts, Basic Payment Accounts, BOV Club Accounts, e-Account and Portfolio Investment Accounts.

There is no fee related to this condition.


Cheque-based Payment Services Tariff up to 31 Aug 2020 Tariff as from 1 Sep 2020
CBM Cheque Encashment at Branch
€4.50   €5.00
BOV Cheque Encashment at Branch
€0.00
€5.00
Issue of Bill Payable / Local Banker Draft 
€2.91
€5.00
Cheque Offence 

Charge for every Cheque referred/drawn against insufficient funds whether honoured or dishonoured by the Bank 
€23.29 per cheque
€30.00 per cheque
Repeated Cheque Offence – more than 3 cheque offences in a month 
€0.00
 
€10.00
 
Repeat Cheque Offence in second month 
€0.00 
€10.00
Repeat Cheque Offence in subsequent third month  
n/a
No Charge but chequebook/s will be withdrawn
Stop Payment of BOV Cheques 
€4.66
€7.00
Stop Payment of Foreign Drafts  
€25.00
€35.00
Order of Foreign Currency Drafts (excludes foreign bank charges as applicable) 
€30.00
 €35.00
Return of Foreign Unpaid Items (excludes Foreign Bank Charges and any out of pocket expenses)  
€0.00
€5.00
Chequebook Orders - 20-leaf cheques 
Postage Costs
€1.50 per chequebook 
includes postage
Chequebook Orders - 40-leaf cheques
Postage Costs
€2.50 per chequebook 
includes postage
Cheque Charge to Issuer

Charge is incurred by customer / business issuing cheque
€1.00 per cheque for customers issuing 200+ cheques per month
 
€1.00 per cheque encashed / deposited 
First 100 cheques issued / encashed / deposited in one calendar year are free of charge* 
More than 100 cheques issued / encashed / deposited will incur a fee of €100 and €1.00 per cheque thereafter
*For 2020, only cheques issued / encashed / deposited after 1 September 2020 will be counted. 
This charge is applicable to customer issuing the cheque and calculated according to the date when the cheque is encashed or deposited.
Special Clearing of Domestic Cheques

No additional fee applies for multiple cheques presented by the same customer at the same time and for the same destination.
 €25.00 per destination  €50.00 per destination
Cheque Images
€1.16 per image
€1.25 per image



Coin Exchange Services Tariff up to 31 Aug 2020 Tariff as from 1 Sep 2020
Inward Coin Deposits
Personal and Business deposits with more than 10 loose coins
 
€0.00

2% minimum €2.50

No charge for Young Savers Deposits
Outward Coin Exchange – Loose Coins
Customer requires coins in exchange of notes or other payment method
 

up to €1,000 - €10 per denomination
over €1,000 - €20 per denomination

2% minimum €2.50

Payment Services Current Tariff  Tariff as from 1 Sep 2020 
Batch Multi Currency Payments - Non SEPA Foreign Currency 
Amounts up to €11,646.84 - 0.125% (min €2.33 max €29.12) + €6.99 + €11.65

Amounts exceeding €11,646.84 - 0.125% (min €2.33 max €29.12) + €11.65 +€11.65 additional fee.     

Foreign Bank charges will be applied as charged by Foreign Banks
0.125% (min €2.33 max €25.00) + €11.65 + Foreign Bank charges will be applied as charged by Foreign Banks
Standing Orders - Over the counter Set Up Fee 
€0.00
 €2.50
Unprocessed Standing Order 
e.g. due to insufficient funds 
€15.00
€20.00
Execution of Payment Instruction Letter 
€0.70
 €2.00
SEPA Direct Debit Rejects Fee (Creditor)  
 €5.00
 €2.00
SEPA Direct Debit Collection (Creditor)  
€0.20
 €0.12
SEPA Batch Payment file (non-salary related payments) Non-Personal Customers applicable with effect from 1 July 2020

Includes BOV to BOV Payments
€1 up to €1,000
€4 over €1,000   
€0.15 up to €1,000
€0.75 over €1,000 
Bill Payments over the counter  

Charge to customer paying bill.  Excludes payments for BOV Services 


 €2.33


 €2.50


BOV Cards Tariff up to 31 Aug 2020 Tariff as from 1 Sep 2020
Visa and Mastercard fee when issued together
€28.00
€30.00
Reissue of PIN collected from Branch or Head office 
€5.00 
€10.00 
Newly issued card collected from Branch or Head Office 
€0.00
€10.00 
Credit Cards Late Payment Fee: Second and subsequent months 
€ 5.00 
€15 per month 
Paper based reprint of statement 
€1.16 per statement 
€1 per page

€25 per statement for statements prior to FY 2000
Paper based copy of statement for customers with a BOV 24x7 Internet Banking Subscription  €1.16 per statement €1 per page

€25 per statement for statements issued prior to FY 2000
 

Save on charges! Use the BOV digital channels for cheaper, fast and secure banking

Check out our tips and suggestions for saving on bank charges.

 

 

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Bank of Valletta p.l.c. is a public limited company regulated by the MFSA and is licensed to carry out the business of banking and investment services in terms of the Banking Act (Cap. 371 of the Laws of Malta) and the Investment Services Act (Cap.370. of the Laws of Malta).