PostaPay&Save is a basic payment account that facilitates payments by means of a MasterCard International Debit Card (PostaPay Card) or passbook, and allows you to safely and easily budget your finances. You can have your salary/allowance credited directly into your account. You can also deposit cheques or cash into the account, pay bills or withdraw money as necessary, while earning interest on the balance.
Funds may be received from or transferred to another PostaPay&Save Payment Account free of any charges. With PostaPay&Save you may also buy stamps, merchandise and services from your local Post Office without the need for cash.
The PostaPay Card can be used worldwide for cash withdrawals on any ATM displaying the MasterCard logo and at retail outlets displaying the MasterCard logo. It can also be used for purchases over the internet.
PostaPay&Save is a product of Lombard Bank Malta plc. and is being offered through MaltaPost outlets and Lombard Bank Branches. The purchase of additional services is not required in order to open a PostaPay&Save Payment Account.
Any individual, who is over 16 years of age, resident in the EU and does not hold a similar account with any other bank in Malta, may open a PostaPay&Save Payment Account in single or joint name. The account can also be opened in the name of an association, club etc. but cannot be used for commercial or business purpose.
You may only hold one PostaPay&Save Payment Account, irrespective of whether the account is held in single or joint name.
At time of application you will need to present the following documentation:-
- Maltese nationals would need to present a valid Maltese ID card, Driving Licence or Passport.
- Non Maltese Nationals would need a valid Maltese residence document OR any other valid identification document recognised under Maltese law which confirms legal residency in the European Union.
- If the above Identity Document does not have your correct residence address, than a government- issued document or copy of a recent utility bill or rental agreement or similar, in your name containing the permanent residential address must be presented. In cases of no fixed address other documents will be requested as required.
- Documentation to verify your expected deposits e.g. documents relating to your income and/or employment details
If you are opening an account on behalf of an Association, Club or Society you should present the following documents:-
- The Tax Identification Number (TIN);
- A letter listing the persons appointed to run the entity showing the names, designations, signatures and ID cards of each individual;
- A letter stating that the entity has agreed to open a PostaPay&Save Payment Account, and signed by all persons mentioned above;
- A list with the names and corresponding valid ID card numbers of the individuals appointed to operate the account;
- A copy of the entity's Statute, Rules & Regulations or similar.
In case of difficulty MaltaPost or Lombard Bank staff are available to offer assistance.