FAQs

 

General Information

  

What is FCM Bank's History?

FCM is a Maltese bank which obtained its licence in 2010 before launching in 2012.

How can I open an account?

You may either apply online using our online application form, or visit our branch in St. Julians for a face-to-face meeting with one of our Customer Relationship Advisers, please call on our Freephone 8007 3737 or (+356) 21 388 388. You may also send us an email on info@fcmbank.com.mt.

 

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What is the minimum deposit?

Minimum deposit for a Fixed Term Deposit in Euro is €2,000

 

Minimum deposit for a Fixed Term Deposit in Sterling is £5,000

 

Minimum deposit for a Bonus Savings Account is €2,000

What is the maximum deposit?

There is no limit on the maximum amount that may be deposited.

Are there any charges when opening an account?

FCM does not charge any fees to open an account. There may be fund-transfer charges from your origination bank. For further information about charges view the Guide to Fees and Charges

What are your opening hours?

We are open for clients from Monday to Friday, between 08:30 and 17:00.

*(Jul & Aug) Monday to Thursday between 08:30 and 17:00, Friday between 08:30 and 15:00.

What does the FCM logo symbolise?

The logo represents the historical towers (Torri), which are built around the coast of Malta. In the same way that these watch towers symbolise strength and security, FCM protects, safeguards and watches over your savings to help achieve your goals.

What is FCM Bank’s Privacy Policy?

FCM’s Privacy Policy is the Bank’s policy to respect and protect personal information it collects from its customers and to use it for purposes which customers are aware of. The Bank takes all safeguards necessary to prevent unauthorised access and does not divulge details collected to any third party (even when the business relationship is terminated) unless:

 

  • The customer has given his unambiguous consent to this; or

  • The Bank is obliged to do so by law or court order or has a public duty to disclose.

 

The Bank’s Data Protection & Privacy Policy may be viewed here.

 

 

 

Account Information

 

How do I open a term deposit?

Opening a Term Deposit Account is as easy as 1, 2, 3.

 

To apply simply click on the ‘Apply Now’ button, fill in and print the online application form:

 

 

1. Complete the online application form
2. Send the required documents by post
3. Transfer your deposit or write a cheque to FCM Bank and we’ll do the rest

 

If you prefer to meet us in person you may bring all the required documentation to FCM Bank

 

 

Free Parking

 

If you visit our branch in St. Julians, free parking is provided for your convenience.

 

Contact Us

 

To speak to one of our Customer Relationship Advisers, please call on our Freephone 8007 3737 or (+356) 21 388 388. You may also send us an email on info@fcmbank.com.mt.

 

 

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How can I deposit money?

Money can be deposited either via bank transfer or by cheque. The Bank does not accept cash.

Who do I make cheques payable to?

Euro cheques must be made payable to FCM Bank Limited, while foreign currency cheques, i.e. GBP, must be made payable to the applicant and signed on the reverse side of the cheque.

Can I transfer money into my fixed term deposit account?

No, you must first transfer your deposit to the Bonus Savings Account. Then we’ll open your fixed term deposit account.

Can I transfer money into my Bonus Savings Account?

Yes, you can transfer funds to your personal or corporate Bonus Savings Account at any time.

How can I transfer funds to my new FCM account?

Upon successful completion of our due diligence process, a set of Bank details will be provided for you to transfer the funds. Once the account has been opened you’ll be provided with your unique International Bank Account Number (IBAN) to which you can transfer the funds from your Linked Account.

 

Alternatively you may wish to deposit funds by way of cheque sent to the address below:
FCM Bank
Aragon House Business Centre
Dragonara Road
St. Julians
STJ3140

Can I make withdrawals from my fixed term deposit?

Since the term deposit is for a fixed period there are no withdrawals until maturity.

Can I make withdrawals on my Bonus Savings Account?

Yes, you can make free withdrawals from a Bonus Savings Account and transfer to the linked account provided by the account holder. Withdrawal by retail account holders does not require any notice period.

What is a linked account?

A linked account is the bank account which you provided and where the deposit originated to fund your bonus savings account. We’ll use the same account to transfer funds back to you. Kindly note that you’ll need to provide a linked account in order to complete the application form.

When is interest paid and how?

For amounts below €15,000 or £10,000 interest is paid annually. For deposits above €15,000 or £10,000 you may choose for interest to be paid quarterly, semi-annually or annually. In case of compounding, interest can only be paid annually.

 

Interest can be paid in three ways:

  • Compounded to the same account

  • Transferred to the Bonus Savings Account

  • Transferred to your linked bank account

Are my deposits protected?

Yes, FCM Bank is a participant in the Depositor Compensation Scheme as established under the laws of Malta.

Will my interest rate change if the Bank lowers or increases its rates for Bonus Savings Account?

Yes, the Bonus Savings Account is a variable interest rate which is subject to change. This does not affect your bonus interest of 0.25% if you leave the account untouched for 12 consecutive months.

Will my interest rate change if the Bank lowers or increases its rates for fixed term deposits?

No, for fixed term deposits the interest rate is locked and fixed for the period you have chosen.

Will my fixed term deposit account automatically be renewed at the end of the term?

No, the fixed term deposit will not be automatically renewed, unless we have clear instructions to that effect from the account holder. Prior to account maturity date, you will be notified that your account will reach maturity soon.

Can I open a joint account?

Yes, you may open joint accounts.

How do I close my account?

The Fixed Term Deposit Account will automatically close at maturity.

 

The Bonus Savings Account may be closed by providing us with a written instruction addressed to FCM Bank on the address below:

 

FCM Bank
Aragon House Business Centre
Dragonara Road
St Julians
STJ 3140

 

 

Personal Information

 

How do I update my personal information?

You may notify us of a change in your details by calling one of our Customer Relationship Advisers on our freephone 8007 3737 or fixed landline (+356) 21 388 388 or by sending the relevant supporting documentation to the address below:

 

FCM Bank
Aragon House Business Centre
Dragonara Road
St Julians
STJ 3140

Do I need to notify FCM Bank if my name or marital status changes?

Yes, we would need to be informed of any updates in your general information and any supporting documentation (if applicable) would need to be supplied.

How do I change my address?

You may notify us of a change in address by calling us and sending us:

 

  • A recent (not older than 3 months) original utility bill (which will be returned to you) or

  • A certified copy of a recent utility bill/ bank statement

How can I make a complaint?

For queries or complaints you may email us on info@fcmbank.com.mt, by addressing the Customer Relationship Manager. We’ll acknowledge your complaint within 5 working days and respond after 1 month. For further information about our complaints policy, please visit the Customer Satisfaction Policy.

 

Online Banking Verification Code

 

Why was the new Online Banking security feature introduced?

This new feature provides added security and authentication measures to your online banking account. This process is called 2 Factor Authentication. This is also in line with the European Banking Authority (EBA) guidelines for the European Union (EU) security of internet payments.

How do I use this new online banking security feature?

For a step by step guide on our new security feature, please click here.

How does this affect my account?

When logging into your online banking account, you will be prompted to request an authentication code. This six digit code will be sent via SMS to your pre-registered mobile phone number. In order to proceed with viewing your online banking account, you must first enter this code as per the onscreen instructions. A new code must be requested at every log in. If you have logged out or your session has timed out, you will need to request a new code to log back in to your account.

What do I do if I do not receive the authentication code?

Should you not receive your authentication code after two minutes, kindly contact us on +356 21 388 388 or 8007 3737.

What happens if I enter the authentication code incorrectly?

If you enter the 6 digit code incorrectly, you will be informed of this error by an on screen message and have the option to request another code. The code is valid for only one attempt, if you have typed in the code incorrectly you will need to request a new code. You have 3 attempts at requesting a new authentication code. Upon the 4th attempt, you must contact us for further assistance.

I do not have a mobile phone, how can I log into online banking?

Unfortunately, if you do not have a registered mobile phone number with FCM Bank you are unable to access your online banking. In this case, should you wish to access account information or withdraw funds from your account, you can call us on +356 21 388 388 and we will be more than happy to assist.

I have a different mobile phone number from the one pre-registered with the bank. How can I change it?

Kindly contact us and we will send you an Account Maintenance Form to fill in and return to us with the new mobile phone number.

What if I have a problem outside normal office hours?

Unfortunately, we do not offer support outside normal office hours.  May we kindly ask you to contact us from Monday to Friday between 8.30am and 5pm.

 

Suspicious Transactions

 

How can I report a suspicious transaction on my account?

If you believe you have identified a suspicious transaction on your account, please call us on +356 21 388 388 or Freephone 8007 3737.

How will the bank respond to the above reports?

The Bank takes any reports from customers of a suspicious transaction very seriously and will immediately start an investigation upon receipt of the report. The Bank will update you with the outcome in a timely manner by phone.

How can I seek help from the bank about online security?

Kindly visit our Keeping You Safe Online section for some useful tips. If you do not find answers to your questions you can contact us via email on info@fcmbank.com.mt, through an online banking message or by calling our Freephone number 8007 3737 or +356 21 388 388.

 

Other

 

Can I open an account if I do not live in Malta?

Yes, you can open an account even if you are not a Maltese resident. Please contact us on (+356)21 388 388 for further information.

Can I apply for an account if I am under 18?

Yes, to open an account a child must be aged sixteen or over.

How long does it take to open an account?

The account will be opened immediately upon receipt of cleared funds.

When does calculation of interest start for my Fixed Term Deposit or Bonus Savings Account?

For applications at our branch, interest starts being calculated when you complete your application and submit a cheque with your application. If you are transferring the funds via Internet Banking, interest will only start being calculated when the funds have arrived in your Bonus Saving Account. For mail applications, interest starts being calculated when we receive a cheque or, if using Internet Banking, when the funds arrive in your Bonus Savings Account.