Frequently Asked Questions

1
Q: What is PostaPay&Save?

A: PostaPay&Save is a payment account that facilitates payments by means of a card (PostaPay Card) or passbook, and allows you to safely and easily budget your finances. You can deposit cheques or cash into the account and pay bills or withdraw money as necessary, while earning interest on the balance.
Funds may be received from or transferred to another PostaPay&Save account free of any charges. With PostaPay&Save you may also buy stamps, merchandise and services from your local Post Office by withdrawing cash from your account.
The PostaPay Card can be used worldwide for cash withdrawals on any ATM and at retail outlets displaying the MasterCard logo. It can also be used for purchases online.
PostaPay&Save can be held by individuals over the age of 16 and by clubs and associations.
PostaPay&Save is a product of Lombard Bank Malta p.l.c. and is being offered through MaltaPost outlets.

2.
Q: What is the PostaPay Card?

A: The PostaPay Card is a card that is issued on opening of a PostaPay&Save account. The card can be used at retail outlets both locally and overseas displaying the MasterCard logo, as well as from online merchants. It can also be used for cash withdrawals worldwide from any ATM displaying the MasterCard logo. The card is issued by Lombard Bank Malta p.l.c. You can easily deposit cash to your account at any Post Office ,Lombard Bank branch and Lombard Bank ATMs in Malta and Gozo.

3.
Q: What is the passbook?

A: Upon request a passbook may be issued on opening of a PostaPay&Save account. This will be used to record transactions effected through the account, allowing you to immediately track and monitor the flow of funds. It is important that if a passbook is held this is always presented when visiting MaltaPost outlets for effecting transactions on the account.

4.
Q: Is there a minimum opening balance required to open a PostaPay&Save account?

A: Yes, a minimum opening balance of €50 is required.

5
Q: Is there a maximum balance that can be held on the PostaPay&Save account?

A: Yes, the maximum balance is €8000.

6.
Q: Who is eligible to open a PostaPay&Save account?

A: Any individual who is over 16 years of age may open a PostaPay&Save account. The account may also be opened in the name of joint account holders or in the name of an association, club etc.

7.
Q: Can a PostaPay&Save payment account be held by an association or club?

A: This service is ideal for associations and clubs. The payment account may be used to deposit fees and to pay bills and other expenses that the association / club will need to settle.

8.
Q: How can I apply for the service?

A: Visit one of the MaltaPost Post Offices and complete the application form. Valid identification and other documents will be required.

9.
Q: What documents do I need to open a PostaPay&Save Account?

A: - By way of basic requirements, Maltese personal and joint applicants would need to present a valid identity card and Tax Identification number.

Other applicants would need:
• A valid identification document: valid identity card or passport
• A copy of a recent utility bill or rental agreement or similar, in the applicant's name and a resident's permit;
• A document, showing the individual's tax identification number e.g. income tax return.

Clients who wish to open an account in the name of a Club or Associations or a PEP should visit the Lombard Bank Branch located at 82 Sebastian Street, Qormi.

10.
Q: May I transfer funds to other PostaPay&Save payment accounts?

A: You may transfer funds to and receive funds from another payment account - all with immediate effect and without any charges.

11.
Q: Can I use the account to pay bills at the Post Office?

A: Yes with PostaPay&Save you may pay bills, such as those relating to water and electricity, fixed telephone lines, internet and TV and also purchase stamps, merchandise and services from your local Post Office by withdrawing cash from your account.

12.
Q: Do I receive interest on the balance in my account?

A: Interest on the balance held on the account is paid every end of March, June, September, and December. The rate currently payable is 0.1% per annum.

13.
Q: May I use this account to deposit cheques issued by the Central Bank of Malta?

A: Yes you may use this account to deposit Central Bank of Malta cheques and any other local cheques.

14.
Q: What should I do if my PostaPay Card or passbook is lost or stolen?

A: In the case of the PostaPay Card, Lombard Bank must be notified immediately on the 24 hour Lost and Stolen card helpline: +356 2558 1789, then visit a Post Office and fill the 'Lost or Stolen' form. 
In the case of a lost or stolen passbook, notice in writing must be given to MaltaPost at any one of its Post Offices or to Lombard Bank at 82, St. Sebastian Street, Qormi. In case of difficulty MaltaPost or Lombard Bank staff are available to offer assistance.

15.
Q: May I ask for an additional Card for my partner?

A: PostaPay can provide you with a secondary card which can be used by a member of your family or a friend.

16.
Q: I would like to receive a statement of my account activity, what must I  do?
A: A mini statement may be issued from any Lombard Bank ATM. A statement of the Account will be provided quarterly, or at any other periods and dates as may be decided by the Bank from time to time, by mail at the address registered on the Application or as subsequently amended.

 

 

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