Satabank announces ‘temporary’ suspension of outward transfers in USD

Satabank has informed its clients of a temporary suspension of processing of outward bank transfers in the US dollar currency.

The reason behind the suspension of such transfers is unclear.

The banks said that outward transfers in other currencies supported by SATABANK initiated from client accounts will still be processed.

So will inward transfers, internal transfers and transfers between own accounts in USD.

The bank apologised to its customers for any inconvenience and said it is doing its best to resolve the problem as soon as possible. Satabank opened its St Julian’s office in March this year.

The bank started with 20 employees but with plans to expand its workforce fivefold in the first two years.

Questions have been sent to the bank.