Maltese banks monitor transactions against what they know about customers and may ask for evidence about a particular deposit. The documents and detail can vary with the circumstances; the official sources reviewed do not set one Malta-wide euro amount that automatically triggers this kind of request.
| Situation | What to know |
|---|---|
| The bank asks where a deposit or transfer came from. | It may be checking whether the transaction fits its understanding of your activity, business and risk profile. The request alone does not establish that the bank suspects wrongdoing. |
| You are unsure whether an unexpected message is really from your bank. | Contact the bank using contact details you already know or independently find through its official channels. Do not rely on links or phone numbers in a suspicious message. |
| You cannot provide the exact document requested. | Explain why and ask what alternative evidence the bank will accept, how to send it securely and when it needs a response. |
| You believe the request is excessive or have a complaint about how it was handled. | Ask the bank to explain what information it needs and why. If dissatisfied, complain to the provider first; eligible consumers may then be able to approach the Office of the Arbiter for Financial Services. |
Why a bank asks about money coming into your account
A Maltese bank may ask about a deposit or transfer to check whether account activity is consistent with what it knows about your business, risk profile and source of funds. The MFSA says banks must check that transactions fit those factors. A request by itself does not establish that the bank suspects you of wrongdoing.
Checks can happen after an account is opened. Malta’s regulations provide for ongoing scrutiny of transactions and risk-sensitive due-diligence checks on existing customers. A transaction that differs from the bank’s understanding of your activity may lead it to ask for more information. The official sources reviewed do not give one Malta-wide euro amount that automatically triggers a source-of-funds request; they also do not establish whether an individual bank uses its own internal thresholds or monitoring rules.
Source of funds and source of wealth are different
Source of funds is the activity or event that generated money used in a particular transaction—for example, employment income, a business activity, a sale or an inheritance. Source of wealth is the broader picture of the economic activities that generated your wealth over time. FIAU Implementing Procedures Part I, last amended on 17 July 2019, distinguishes the two. A question about one deposit may therefore be about that transaction, rather than a request to account for your entire financial history.
What evidence might help
Send evidence that connects the money to the source you have described. Depending on what happened, examples might include a recent payslip or employment document for salary, a sale record for an asset, a loan agreement, or inheritance paperwork. The MFSA lists payslips, sale documents and loan agreements as examples; FIAU guidance last amended in 2019 gives a copy of a will as one possible example for inheritance. These are illustrations, not a fixed checklist. Ask your bank what it will accept for your circumstances.
If the request is unclear, ask which transaction the bank means, what aspect of its origin it needs explained, which evidence it will accept, how to submit it securely and when it needs a reply. If you do not have the requested paperwork, say why and ask about alternatives. FIAU guidance says the level of detail and supporting documents should depend on the customer risk assessment and that requests should not be excessive or irrelevant to the customer profile.
Before sending sensitive documents in response to an unexpected email, text or call, verify the request independently. Use contact details you already know or obtain through the bank’s official channels, rather than links or contact information in a message you are unsure about. The MFSA advises consumers to contact a company directly using publicly available contact information to check whether communications are genuine.
What if you do not reply, or the request seems excessive?
Do not assume that ignoring the request has no consequences. Malta’s regulations require a provider that cannot complete specified core customer due-diligence measures not to carry out transactions through the account and to terminate an existing business relationship. That provision concerns inability to complete those specified checks; it does not make every unanswered source-of-funds question an automatic reason to restrict or close an account. The outcome of an individual request depends on the circumstances.
If you think a request is unrelated or disproportionate, ask the bank to explain its purpose and identify what information it needs. Keep copies of your correspondence and submitted documents. If you remain dissatisfied, complain to the provider first. The Office of the Arbiter for Financial Services says it may consider a complaint after the provider has had an opportunity to respond; its current guidance says you may proceed if the response is unsatisfactory or you have received no feedback or final letter after 15 working days. Eligibility requirements apply.
Questions people ask
Does a source-of-funds request mean the bank suspects me?
Not by itself. Banks monitor transactions against their understanding of customers and may request information to check a particular transaction. The request alone does not establish that the bank suspects wrongdoing.
Is there a standard amount that triggers a source-of-funds request in Malta?
The official sources reviewed do not specify one Malta-wide euro amount that automatically triggers this kind of request. They do not establish whether a particular bank uses internal thresholds or monitoring rules, so ask the bank what transaction it is reviewing.
What if I cannot provide the document requested?
Explain why you cannot provide it and ask what alternative evidence the bank will accept. Confirm how to send documents securely and ask for the response deadline.
Can the bank restrict my account if I do not respond?
It depends on the circumstances. The regulations require action if a provider cannot complete specified core due-diligence measures, but every unanswered source-of-funds request does not automatically trigger that outcome.
How can I check whether the request is genuine?
Contact the bank using contact details you already know or independently obtain through its official channels. Do not rely on links or contact details in a suspicious message.
Sources
- Malta Financial Services Authority, Banks’ Rights to Information on Source of Cash and Deposits
- Financial Intelligence Analysis Unit, Implementing Procedures Part I, section 4.4.3 (last amended 17 July 2019)
- Legislation Malta, Prevention of Money Laundering and Funding of Terrorism Regulations, S.L. 373.01
- Office of the Arbiter for Financial Services, Step 1: Complain with your provider
- Malta Financial Services Authority, Cyber-Security and Other Security Related Information
General information, not individual immigration or legal advice. Confirm your own status and current requirements with the relevant authority.