HSBC Bank Malta Charges with regards to bank account confirmations

It has been brought to our attention that as from January 2020, HSBC Audit Bank confirmation letter fees have increased. Following an enquiry by the Institute with the bank it was clarified that the service has been outsourced to a third party service provider and fees are chargeable as follows:

• Direct HSBC fees will be charged by the bank to the end client;

• Third party service provider fees will be charged to the auditor, who will then disburse these fees to the end client.