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Customer Service Centre - Bank of Valletta - BOV Group
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Do I have to open a new account to make or receive a SEPA payment?
Do I have to open a new account to make or receive a SEPA payment?
Do I have to open a new account to make or receive a SEPA payment?
No, there is no need.

The IBAN is not a new account number and does not replace your existing bank account, but additional characters are added to your existing bank account number to form a verifiable and unique IBAN for each account that is already in place.


The following is an example of a BOV IBAN and its components:

BOV IBAN:         MT94VALL22013000000040012345678

BOV IBAN Construction:

Country Code      Check Digit*      Part of BIC            Sort Code         Preceding Zeros         Account No.
       MT                         94                    VALL               22013                  0000000                    40012345678

*not unique for all accounts - it may change depending on the other characters that form the specific IBAN
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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).