HSBC have confirmed that one in every four of its customers will be charged with a monthly €5 banking fee despite previous requests for reconsideration from the Central Bank and financial regulator.
The bank had first announced the plans back in January but halted due to public outcry and the aforementioned requests from the Central Bank and MFSA but will now move ahead with a revised version which will not affect 75% of its customer base.
This will affect customers under the age of 61 who deposit less than €2,300 per three months into their accounts while those over 61 will have to deposit at least €1,250 every three months to avoid fees.
Exemptions also include those with home loans, personal loans or wealth products as well as disabled people who do not qualify for social security benefits and part-timers who get paid into their HSBC account.
#MaltaDaily