HSBC Malta has agreed to temporarily suspend the €5 customer contact programme in view of the on-going discussions with the Central Bank of Malta and the Malta Financial Services Authority.

The Central Bank of Malta, in a statement said the joint meeting discussed HSBC Bank Malta plc’s (‘HSBC’) recent announcement on changes to their customer account fee structure.

The discussions between the Authorities and HSBC are still ongoing and the Authorities have asked HSBC to reconsider its position.

HSBC customers started to receive letters last week advising that it had introduced a monthly €5 banking fee for services for customers who fail to deposit €2,300 or more over a three-month period. Those aged 61 or over need to deposit €1,250 or over.

In the letter the customer was advised as to whether they would be required to pay the fee or not, it was to be constantly under review.

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