MeDirect Bank Malta review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
MeDirect Bank Malta suits anyone in Malta who wants everyday banking and savings in one place, with several currencies held side by side. It carries 10 currencies, converts at 0% and pays 2% at a variable rate on the savings balance, under a licence from the Malta Financial Services Authority.
Key facts
- Best for
- A fee-free everyday account in Malta with a savings balance attached and no cost for currency conversion.
- Monthly fee
- €0↗
- Deposit protection
- EU DGS up to EUR 100,000↗
- Currency conversion fee
- 0%↗
- Currencies
- 10↗
- Local account details
- IBAN↗
- Free ATM withdrawals
- €350↗
- Transfer fee
- Free SEPA and SEPA Instant transfers↗
- Legal entity
- MeDirect Bank (Malta) plc↗
- Headquarters
- Malta↗
- Founded
- 2004↗
- Support channels
- Email, Phone, Help-centre, Chat↗
- Pricing model
- No monthly fee, Low FX fees
- Features
- Free ATM withdrawals, Joint account
- Official website
- medirect.com.mt
Savings
Money transfer
- Delivery time
- SEPA Instant under 10 seconds 24/7; SEPA same day; SWIFT 1 to 5 business days↗
- Payout methods
- Bank↗
- Fee to send 1,000
- €0↗
Facts checked September 26, 2026, 6 sources
Apps and profiles
- Get the app
- Google Play
Pros and cons
Pros
- Monthly fee of €0 on the everyday account, with SEPA and SEPA Instant transfers at €0.
- Currency conversion at 0% across 10 currencies, with local details as an IBAN under iban.
- Savings with a minimum deposit of €0 and Instant access, withdrawals anytime and unlimited.
Cons
- Savings pay 2% at a variable rate, while the site median sits at 3%.
- Support runs on email, phone and help centre, so help is handled remotely.
- The free ATM allowance is €350, so heavy cash use sits outside the free part.
Who it suits
- Maltese residents and euro-area freelancers who want an everyday account with a savings balance alongside.
- Anyone paying by SEPA who needs instant and same-day euro transfers rather than slower SWIFT payments.
- People who want a joint account, since the account offers free atm and joint account.
Who should look elsewhere
- Skrill, if you want a wallet balance instead of a bank deposit and would accept a currency conversion fee of 3.99%.
- PayPal Colombia, if you would rather hold funds in a wallet than a bank balance covered under EU DGS up to EUR 100,000.
- eToro, if you want an account tied to markets rather than easy-access banking under easy access.
Safety of your money
MeDirect Bank (Malta) plc is a Maltese bank supervised by the Malta Financial Services Authority, not an e-money wallet, so the balance is a deposit rather than pooled funds. The protection on that deposit is EU DGS up to EUR 100,000, which covers eligible balances held with the bank if it cannot pay you back.
Where it sits among rivals
Ranked against the brands here, the monthly fee sits at position 1 of 500, the currency conversion fee at 1 of 312, and the currency count at 103 of 379. Costs lead those tables while the currency list sits mid-table.
How MeDirect Bank Malta compares
9.2 vs 8.7
9.2 vs 8.6
9.2 vs 8.0
9.2 vs 8.9eToro's monthly fee is £0, the same, but the account is built around markets rather than easy-access banking under easy access.
9.2 vs 9.1
9.2 vs 9.2
9.2 vs 8.7
9.2 vs 8.7
9.2 vs 8.7
9.2 vs 9.0Skrill charges a currency conversion fee of 3.99%, where the fee here is 0%.
9.2 vs 8.7
9.2 vs 9.5
9.2 vs 9.4
9.2 vs 9.3
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.1
9.2 vs 9.0
9.2 vs 9.0
9.2 vs 8.9
9.2 vs 8.9- 9.2 vs 8.9
9.2 vs 8.7
9.2 vs 8.5
9.2 vs 8.5
9.2 vs 8.5
9.2 vs 8.4
9.2 vs 8.3
9.2 vs 8.2
9.2 vs 8.1- 9.2 vs 8.1
9.2 vs 8.0
9.2 vs 8.0
9.2 vs 8.0
9.2 vs 9.1
Where MeDirect Bank Malta is available
- Available
- Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom
- Licence in Malta
- Malta Financial Services Authority, checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
Does it cost anything to keep the account?+
There is no monthly charge to keep the everyday account: the fee is €0, the same as the site median, €0. Currency conversion is 0% as well, and the free ATM allowance is €350.
What does the savings balance pay?+
The savings balance pays a headline rate of 2%, and the rate type is variable, so the return moves rather than being fixed for a term. The minimum deposit is €0 and Instant access, withdrawals anytime and unlimited.
How is the money protected?+
MeDirect Bank (Malta) plc holds the balance as a bank deposit under the Malta Financial Services Authority, and the protection on it is EU DGS up to EUR 100,000. That scheme covers eligible balances at the bank, which is the point to weigh against a wallet balance.
How fast are payments and what do they cost?+
Euro payments are the strength: SEPA Instant lands in seconds around the clock and SEPA transfers arrive the same day, while SWIFT takes a few business days. Free SEPA and SEPA Instant transfers are part of the account and payouts run to a bank account under bank.
Can I hold more than one currency?+
The account holds 10 currencies, so euro receipts can sit alongside others without a conversion cost of more than 0%. Local account details are issued as an IBAN under iban, which suits salary, supplier and cross-border euro invoices.
What do I get with the card and cash withdrawals?+
The card comes with a free ATM allowance of €350, and the account supports a joint holder under free atm and joint account. The account is easy access with a monthly fee of €0, so cash withdrawals beyond the allowance are the cost to watch.
How do I reach support?+
Support runs on email, phone and help centre, covering email, phone, a help centre and chat. The bank was founded in 2004 and is based in Malta under MT, so questions go to the bank rather than a marketplace platform.
Sources
- medirect.com.mt checked September 26, 2026
Backs: Deposit protection, Headquarters, Legal entity, Transfer fee, Licences
“MeDirect Bank (Malta) plc, The Centre, Tigne Point, Sliema, TPO 0001, Malta.”
- medirect.com.mt/pay/account checked September 26, 2026
Backs: Currencies, Currency conversion fee, Monthly fee, Fee to send 1,000
“You can open and manage current accounts in EUR, GBP, USD, AUD, NOK, CAD, CHF, JPY, DKK and SEK.”
- medirect.com.mt/pay/cards checked September 26, 2026
Backs: Free ATM withdrawals
“Withdraw cash at any cash machine free of charge up to, or equivalent to, EUR 350 a month.”
- medirect.com.mt/pay/payments checked September 26, 2026
Backs: Delivery time, Payout methods
“Typically, this takes 1 to 5 business days, depending on the banks and currencies involved”
- medirect.com.mt/save/me-max checked September 26, 2026
Backs: Access terms, Headline rate, Minimum deposit
“Withdrawals Anytime, unlimited”
- medirect.com.mt/support/faqs checked September 26, 2026
Backs: Account kind, Features, Founded, Local account details, Pricing model, Rate type, Support channels
“MeMax Savings Account, which is a higher interest bearing instant access savings account”
Compiled from 6 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type.
Related by the facts
MeDirect Bank Malta
A fee-free everyday account in Malta with a savings balance attached and no cost for currency conversion.