Malta, 2 July 2021: We are pleased to inform you that IIG Bank (Malta) Ltd (the Bank) has opened a USD (United States Dollars) account with Bank of New York Mellon New York USA (BNY Mellon)
The Bank is ensuring a seamless process for most customers receiving/depositing money and making payments/withdrawals from their USD accounts with the Bank. This communication explains what you need to do when receiving USD to your account.
USD currency payments (outgoing) - NO change from the current process. You will continue to provide us with your instructions as before the change.
For Information only: All outgoing payments/withdrawal (SWIFT MT103's), will be processed mainly through BNY Mellon and/or through Western Union Business Solutions.
USD currency payments (incoming) - YES, change and intervention is necessary.
With immediate effect, if you are receiving funds to your account/s in USD, you now need to provide the remitter with the new routing instructions. For those of you issuing invoices, you may start including the "payment instructions" immediately, since the new accounts are open to receive incoming transfers.
On every USD currency payment - Information to be given to the remitter and to include in invoices under 'payment instructions'
Incoming USD Currency payments:
PLEASE REMIT PAYMENT TO:
If you have any queries on the above, please do not hesitate to contact us