For personal reasons I recently decided to change my home loan from one bank to another. While I was negotiating this, the first bank debited my account without notice to extend my insurance policy.

When the transfer was completed, this bank refused to return my insurance policy that was used only for two weeks. In a letter I was told that this was in keeping with the policy’s terms and conditions, which were obviously approved by the Malta Financial Services Authority.

This is most unfair, and the MFSA should never approve such conditions which penalise customers at the expense of the banks.