FLOW 23 – A successful conference on digital transformation
02 June 2023
4 Sight Group in collaboration with the Malta Chamber of SMEs organised the 2nd edition...
GRTU has written to Professor
Joe V. Bannister the chairman of MFSA regarding the numerous complaints by its
members that HSBC has decided to start imposing yet another charge on
businesses. This latest increase concerns the charge on internet banking which
all businesses having HSBC accounts have to succumb to.
This of high concern for
GRTU's members as internet banking is today not a luxury but a necessity in the
daily running of an enterprise, so introducing a fee on a daily necessity will
inevitably put up business running costs which many businesses are finding it
increasingly difficult to cope with already in such delicate times and when
everyone else is doing his utmost to improve our employment levels. It is not
acceptable that such a charge is introduced without prior consultation and an
analysis of what the impact will be.
This is exactly in line
with our argument against the excessive and even hidden charges made by banks
on enterprises and consumers as HSBC is once again hiding a charge behind
increased services, services that are once again not optional and most of them
not requested. HSBC by all means can and should increase its services but
enterprises that are happy with the current necessary basic service and do not
want to add any additional unnecessary costs should be allowed to have a
choice. HSBC has already reduced the number of branches drastically to
encourage clients to utilize internet banking so now the possibilities to go
back to using the branches has been reduced.
The bank enjoys a
dominant position and such initiatives should be regulated. GRTU has asked that
MFSA takes the issue seriously and that GRTU is given an early opportunity to
discuss the matter as our members merit a reply for the concerns expressed.
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).