Get in touch - Bank of Valletta - BOV Group
Customer Service Centre - Bank of Valletta - BOV Group
  • ... >
  • ... >
  • ... >
  • ... >
  • ... >
Maximise Banner
Minimise Banner
next Previous
next Previous
to know more about Payment Services for Business
Bank of Valletta offers a variety of payment channels for businesses
Payment Services
SEPA/Non-SEPA Electronic Credit Tranfers
Cut down on paperwork, time taken up with the writing and issuing of cheques, worries of money-handling, and checking of bank reconciliation statements.

The Bank enables your organisation to make payroll and other third party payments directly to the accounts of individuals or other organisations.

Save on mailing charges, cheque writing and signing, and personnel time. It takes just a few minutes to process bundled electronic payments

Direct Debit System
It’s one of the easier ways of receiving your company's income. Making use of the Direct Debits saves you time and the trouble when collecting monies. The system has been carefully designed to protect you and the payer. In fact, it only entails that clients who hold an account with a SEPA Bank have their account debited by the amount on the bill as stated by your organisation to the Bank.

Direct Debiting is an advantage over standing orders in that it can be used when the amount, or the interval between payments receivable, varies.

International Bank Account Number (IBAN)
The International Bank Account Number (IBAN) was specifically developed in order to facilitate the automated processing of cross-border credit transfers. The IBAN is a set standard for bank account numbers that uniquely identifies a customer's bank account held at a bank. The aim of the IBAN is to make cross-border payments between countries more efficient and secure.

Users of the IBAN and the Bank Identifier Code (BIC) will benefit from more efficient and secure cross-border payments and will avoid additional charges. Our local IBAN is made up of 31 alphanumeric characters. One can find his IBAN together with his Bank's BIC on his banks statements.

Caution:- Users of the IBAN should always ensure that the IBAN being quoted is the one generated/given by their own bank.

International Payments
The Bank provides facilities to businesses wishing to make payments abroad for travel purposes, settlement of trade, professional or financial obligations abroad, and transfers abroad on investible funds for the purpose of investment.

Foreign Currency Drafts
Bank of Valletta draws worldwide-negotiable cheques in the required foreign currency, in favour of a named payee.

Money Transfers
Using swift or telex the bank instructs its overseas correspondent to credit the relevant foreign currency amount directly to the payee’s account.

Correspondent Banks
Bank of Valletta plc has correspondent banking arrangements (Nostro accounts) with several international banks in different parts of the world. Trade related receipts/payments and Personal payments/remittances are transacted through these accounts in the respective currencies. 

Click here for a full list of Bank of Valletta's correspondent banks.
Share this item:
Print page
My Guide has identified the following related material
next Previous
BOV Pjazza
next Previous
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).