Several HSBC Malta customers were surprised to learn, when they opened a letter from the bank, that as from next month they will not be able to deposit extra cash on to their credit cards.
They will soon be receiving another letter from the bank clarifying that this measure is aimed at minimising credit card fraud losses and that accounts may be in credit for up to 90 days without incurring a charge.
A bank spokesman explained this was done to reduce the number of clients keeping a credit card account in credit because “it increases the potential impact of a fraud loss if it were to be lost, stolen or otherwise compromised”.
Asked if this meant that clients going on holiday risked getting charged if they topped up their credit card to have access to their hard-earned cash, the bank said this was not the case and it would be making it clear to customers that accounts may be in credit for up to 90 days without incurring a charge.
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