Companies in Malta are being reminded to ensure that cheques issued in their favour reflect their full legal registered name, as banks move to align with new regulatory requirements issued by the Central Bank of Malta.

In communication sent to clients, banks have warned that cheques containing discrepancies in company names will be returned unpaid from 1st March 2026, in line with Directive No. 19 issued by the regulator.

Under the directive, cheques drawn in favour of legal entities must be made payable exclusively to the company’s full legal name as registered with the bank. The payee name on the cheque must also match exactly the name of the account into which the cheque is being deposited.

Businesses have been advised to review payment details across invoices, websites and other commercial materials to ensure their legal company name is clearly displayed. Banks are also encouraging companies to inform customers, suppliers and other stakeholders to avoid payment disruptions.

According to the guidance sent to clients, cheques that do not meet the naming requirements will be returned unpaid once enforcement begins in March.

The communication also highlighted digital payment methods as a more efficient alternative, noting that electronic payments may help businesses reduce administrative issues linked to cheque processing.

The reminder forms part of wider efforts to ensure compliance with regulatory standards governing payment instruments and financial transactions involving legal entities.