Bank account in Malta: a right to a basic account, and your Dutch IBAN keeps working

Yes, you can open a bank account in Malta, and if you live there legally you are entitled to a basic payment account: a bank may not refuse you one just because you have not lived in the country for long. What it costs differs per bank; the EU only requires that the fees stay reasonable and that you get them on paper in advance. The find at EURES: as a resident of Malta you can opt for a flat withholding tax of 15 per cent on the interest on your bank balance. The trap lies in the order: the bank wants to see your Maltese papers, and your residence card only comes after an application, an appointment and a check. Until then you pay from your Dutch account — and that is allowed.

Am I entitled to an account?

Yes, to a basic account. Your Europe lists what it must do: deposit money, withdraw cash, receive and make payments — direct debits, card payments — and it comes with a payment card you can use online and in shops. An overdraft need not be included. The right does not apply to other accounts, such as savings accounts.

Refusal is allowed in a few cases: if you do not comply with the rules against money laundering and terrorist financing, and in some countries if you already hold a similar account there. Ask the bank in advance which papers it wants to see, so that you do not have to come twice.

When do I have my Maltese papers?

The residence card only follows a complete file, a biometric appointment and an additional vetting. Identità then sends a collection letter to your registered address, and you collect the card yourself in Msida, on working days from half past seven to one in the afternoon. At the biometric appointment you get a biometric receipt: a temporary document with your name, address, photograph and the registration number of your card. Ask the bank whether it accepts that as long as the card has not arrived.

Can I pay with my Dutch account until then?

Yes. Within the euro area transfers and direct debits go through the European SEPA system, and your Dutch IBAN should work just as well as a Maltese one. If a Maltese business — a landlord, an energy supplier — refuses a payment or direct debit because your account is in another EU country, the European Commission calls that IBAN discrimination. You can complain about it to the national competent authority in the country where it happened, so in Malta.

Your wages may also be paid into a bank account, EURES writes; they can also be paid in cash or by cheque. For employees from outside the EU it must be by bank transfer since 1 October 2025, but that does not apply to you as a Dutch national.

What does withdrawing cash cost, and how safe is my money?

What	Rule
Withdrawing cash in another EU country	no more expensive than in your bank's country
Fee overview	before opening, and after that once a year
Deposit guarantee	100,000 euros per person per bank
Extra protection after, for example, a home sale	at least 3 and at most 12 months, set per country
Interest on bank balances, as a resident of Malta	optionally a withholding tax of 15 per cent

The proceeds of your Dutch home are temporarily extra protected, but not forever. Money from a particular event, such as the sale of a home or a retirement, is temporarily covered above the 100,000-euro limit, for at least three and at most twelve months. How long exactly, each country decides itself. Ask the Maltese bank before you transfer a large amount, and otherwise spread it over more than one bank.

Which account do I keep in the Netherlands?

Your Dutch account remains necessary: that is where your tax return, your pension and every refund come in. The European switching rules, under which the new bank takes over your regular payments, apply to a switch within the same country; from the Netherlands to Malta you move the payments yourself.

Bear the Maltese tax in mind too: a foreign resident pays tax, according to EURES, on their Maltese income and on the foreign income that arrives in Malta. Which account you use for which money is therefore not just a question of convenience; read AOW, pension and tax in Malta before you move large amounts. Where the bank falls in your sequence is in the step-by-step plan for Malta.

In Vertrekklaar this is phase 4 of 5 of the journey, step 4.5: the same steps, but for your situation — in your order, tickable, and with the deadlines watched. See the whole journey to Malta or go straight to step 4.5 in the open plan.