Bank of Valletta is participating in a national drive towards reducing cheque payments in favour of a more efficient digital payments strategy for the benefit our customers, partners and shareholders alike.
Switching to batch payments is also convenient due to additional savings from cheque charges.
Batch payments will also free up your staff’s time for more productive work and purchasing envelopes, postage, reconciliation and storage will be a thing of the past. By uploading batch payments, processes are also improved leading to a reduction in errors.
The advantages of Sepa Credit Transfer (SCT) include:
- Convenient pricing structure
- Payments of up to €1,000 are charged at €0.15
- Payments of more than €1,000 are charged at €0.75
- Decide who uploads and administers your internet banking.
- Maintain control of payment files by allocating approval rights to users of your choice.
- Payments are delivered to beneficiary instantly.
- Payments to third party banks are delivered within 24 hours.
- Safe, transparent and use of an EU-wide industry standard using IBAN.
The online functionality will require your IT’s input to setup and test the online payment system.
Contact us now for more information. Choose below!
What to expect after you apply
Important Information
Only the legal representatives of the company applying for the service are allowed to sign the documents as identified in the Memorandum of Association.
The above process is subject to a Due Diligence process which may vary according to the needs and area of operation from which the company operates. Should all required criteria be met on time, the process takes 3 weeks to complete.
Documentation
Once BOV review is complete you will receive your subscriber code and will be required to fill in the related documents found below.