MeDirect Bank review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
MeDirect Bank suits Maltese savers who want instant withdrawals and no monthly charge on a euro account, and the rate is not the reason to open it. A variable headline rate of 2% sits below the savings median, while the monthly fee is €0.
Key facts
- Best for
- A euro savings account in Malta with instant access, no monthly fee and multi-currency holdings.
- Headline rate
- 2%↗
- Rate type
- Variable↗
- Minimum deposit
- €0↗
- Deposit protection
- EU DGS up to EUR 100,000↗
- Access terms
- Instant access, withdrawals anytime and unlimited↗
- Monthly fee
- €0↗
- Account kind
- Easy access↗
- Legal entity
- MeDirect Bank (Malta) plc↗
- Headquarters
- Malta↗
- Founded
- 2004↗
- Support channels
- Email, Chat, Phone, Help-centre↗
- Pricing model
- No monthly fee
- Official website
- medirect.com.mt
Everyday accounts
- Currency conversion fee
- 0%↗
- Currencies
- 10↗
- Local account details
- IBAN↗
- Free ATM withdrawals
- €350↗
- Transfer fee
- Free SEPA and SEPA Instant transfers↗
- Features
- Free ATM withdrawals, Joint account
Facts checked September 26, 2026, 7 sources
Apps and profiles
- Get the app
- Google Play
Pros and cons
Pros
- Deposits are covered by the EU Deposit Guarantee Scheme, and the licence comes from the Malta Financial Services Authority.
- A joint account is available, and support runs on phone, email, chat and a help centre.
- The minimum deposit is €0, under the savings median of €0.17.
Cons
- The variable rate of 2% puts the account 316 of 473 brands on the savings ranking, below the 3.08% median.
- The multi-currency account covers 10 currencies, against a site maximum of 350.
Who it suits
- Savers in Malta who want instant access and unlimited withdrawals on a euro balance.
- Anyone paid in several currencies who can use a local IBAN and SEPA transfers.
- Households wanting a joint account with phone and chat support.
Who should look elsewhere
- AXI Card, if its headline rate of 21.59% matters more than a protected euro deposit.
- Plazo ES, listed at a headline rate of 24.19%, when only the headline figure counts and access terms do not.
- PayPal Colombia, whose headline rate of 3.3% is nearer the savings median, when a local IBAN decides it instead.
Rates and terms
MeDirect Bank pays a variable rate on the easy-access savings account, with a headline rate of 2%. Because the rate type is variable, the figure can move rather than being locked for a fixed term, and the easy-access account is built around instant withdrawals. Savers chasing a higher return need to weigh this against longer fixed-term options.
How MeDirect Bank compares
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9.2 vs 9.0
9.2 vs 8.1
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9.2 vs 8.0
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9.2 vs 8.5
9.2 vs 8.5
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9.2 vs 9.0
Where MeDirect Bank is available
- Available
- Malta
- Licence in Malta
- Malta Financial Services Authority, checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does MeDirect Bank charge to hold money?+
The savings account carries a monthly fee of €0, and the multi-currency account follows the same pattern. SEPA and SEPA Instant transfers cost nothing, and the savings median monthly fee on the list is €0. Running the account adds little beyond the balance you hold.
How much do I earn on the savings balance?+
The rate is variable, with a headline rate of 2% against a savings median of 3.08%. That sits below the middle of the list, so the account is worth opening for its access and running costs rather than for the return on deposits.
Is my money protected?+
Deposits sit under the EU Deposit Guarantee Scheme. MeDirect Bank (Malta) plc holds a licence from the Malta Financial Services Authority and is a bank, so the deposit is held with the bank itself rather than with an e-money or payment institution.
Can I get at my money quickly?+
The account is easy-access, with instant access and withdrawals at any time and no limit on them. Cash machine use is included with an allowance of €350, and that suits anyone treating the balance as everyday spending money rather than a fixed-term deposit.
How many currencies can I hold, and what does conversion cost?+
The multi-currency account holds 10 currencies, above the site median of 5 and well below the 350 seen elsewhere. Conversion fees come to 0%, and local IBAN details come with the account for receiving payments.
Who is the account aimed at?+
Savers in Malta earning or spending in euro who want no monthly charge, and people paid across several currencies. A joint account is available, and help comes on phone, email, chat and a help centre, which suits anyone who prefers a person to a form.
What is the minimum deposit?+
The minimum deposit is €0, so the easy-access account can be opened and topped up in small amounts. The savings median minimum deposit across the list is €0.17, which makes this one of the easier accounts to start.
Who runs the account, and where?+
MeDirect Bank (Malta) plc is based in Malta and was founded in 2004, so the brand is a long-standing local bank rather than a new entrant. The legal entity name appears on account documents alongside the Malta Financial Services Authority licence.
Sources
- medirect.com.mt checked September 26, 2026
Backs: Transfer fee
“Free Instant SEPA Payments”
- medirect.com.mt checked September 26, 2026
Backs: Deposit protection, Legal entity, Licences
“MeDirect Bank (Malta) plc, company registration number C34125”
- medirect.com.mt/contact checked September 26, 2026
Backs: Headquarters
“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
“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/save/me-max checked September 26, 2026
Backs: Access terms, Headline rate, Minimum deposit, Pricing model, Monthly fee
“Withdrawals Anytime, unlimited”
- medirect.com.mt/support/faqs checked September 26, 2026
Backs: Account kind, Features, Founded, Local account details, Rate type, Support channels
“MeMax Savings Account, which is a higher interest bearing instant access savings account”
Compiled from 7 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Term.
Related by the facts
MeDirect Bank
A euro savings account in Malta with instant access, no monthly fee and multi-currency holdings.