HSBC has launched a “Euro Converter Account”. This product is part of the bank’s strategic preparation for the euro changeover process.

The Euro Converter Account is a one-year fixed deposit in Maltese lira (Lm) with a difference. The interest of four per cent per annum, less 15 per cent withholding tax, will be paid upfront to customers on account opening and credited to a savings or current account of customer's choice.

The account balance will automatically be converted to euro on 1 January 2008 and on maturity transferred to a designated savings or current account held in customer’s name with the bank.

The minimum balance required to open a Euro Converter Account is Lm2000.

More information about HSBC’s Euro Converter Account can be obtained by calling Customer Service on 2380 2380, by logging onto the bank’s website www.hsbc.com.mt or from any HSBC Bank Malta branch.