What did the Malta Chamber of SMEs bring through for business in this year’s budget?
18 October 2021
The Malta Chamber of SMEs has noted a number of positive initiatives that will aim...
Revolut, the fastest growing FinTech in Europe, which officially launched in Malta in September providing advanced and more affordable digital banking alternatives is the banking of choice for GRTU Malta Chamber of SMEs.
Revolut will be providing GRTU members with an exclusive 3 month free subscription. It is estimated that this incentive will potentially reach close to € 1 Million in value for 7,000 companies based in Malta
GRTU believes in the principles Revolut stands by and is a welcome breath of fresh air as a digital banking alternative. GRTU has been fighting and arguing against exorbitant and hidden fees and expensive access to finance. Revolut so far have provided a very good first step and we are excited to continue working together and developing new products for the needs of our members. It is high time that Maltese businesses are charged a straightforward cost that is not percentage based and does not include exorbitant costs, hidden profits or fees.
GRTU President Paul Abela stated that “GRTU joins our Prime Minister Joseph Muscat in welcoming Revolut to Malta and we will endeavour the best of our efforts for it to succeed and give a much needed service to Maltese enterprises”. 60,000 companies around Europe already signed up for Revolut Business, so it’s perfect timing for Malta to join the party!
Revolut Business provides a comprehensive service by linking their product to other software that facilitates the monitoring of cash flow, automation of workflows and automated accounting amongst others, all linked to the company’s digital banking. Revolut will be holding a number of workshops with its counterparts for GRTU members during the year to come.
Companies can also enjoy free international bank transfers and fee-free currency conversion. This is particularly interesting for companies who are doing international business and need to move money fast, safe and without paying ridiculously high banking fees. Companies can also benefit by issuing corporate cards for their staff, and track the whole team’s business expenses instantly, set spend limits for each employee and easily block cards if they are lost.
Last but not least, Revolut Business offers a modern Open API that allows companies to seamlessly integrate their business bank account into their workflow. As a result, they can automate cross-border business payments, send payouts to clients or employees and monitor transactions according to business’ needs.
This is what businesses need in this digital era and this is the service that consumers expect. GRTU and Revolut are committed to make it happen.
On behalf of Revolut: Philip Maurice Mifsud – Revolut Country Ambassador.
The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.
A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).