The Bank of Valletta will be suspending fees related to dormant accounts and minimum balance pending ongoing discussions with the Malta Financial Services Authority.
In a statement, the Bank said that it recognises that some customers may have not received its advance notification in relation to these charges and it is therefore taking appropriate measures.
These fees were introduced by the Bank in September last year to recover partial costs of retaining accounts for clients who choose to keep their accounts inactive or with a low balance. It said that certain categories of customers were excluded from these fees.
In line with its campaign launched in September, Bank of Valletta said that it continues to encourage its clients not using their bank accounts to close them or to opt for a basic payment account which is exempted from such charges.