Banking services are offered in Maltese and English. There is at least one bank located in every village in Malta, with major banking centres in Sliema, Birkirkara, and Valletta.
Opening times for banks in Malta is 830hrs/8:30am to 1230hrs/12:30pm Monday to Thursday, 830hrs/8:30am to 1630hrs/4:30pm Friday, and 830hrs/8:30am to 1230hrs/12:30pm Saturday. Extended hours and evening service are offered at select banks throughout the islands.
All bank branches and offices are closed on the following bank holidays:
The local currency in Malta is the Euro (€). Malta adopted the Euro in 2008, after joining the EU in 2004. The previous currency used in Malta was the Maltese Lira (Lm).
It is very easy to find ATMs/ABMs in Malta. Most ATM's are serviced by the Bank of Valletta (BOV) or HSBC Malta. If you are using a foreign card to withdraw money, be aware you may be charged fees. Visas and Mastercards are widely accepted; American Express, Maestro and Cirrus cards are accepted in limited locations.
ATMs in Malta can issue €10, €20, €50, and €100 Euro bills.
Not all foreign debit cards are accepted in Malta, such as UK Solo/Electron Cards. Check with your financial institution before visiting or moving to Malta.
Debit cards for Maltese banks can be used at most locations where credit cards are accepted, however, debit cards from Maltese banks typically do not work outside of Malta. Check with your Maltese financial institution before travelling, or open a credit/debit card account such as Visa Debit.
The Central Bank of Malta publishes exchange rates daily. You can exchange currency at a bureau d'échange in Malta, which normally charge a commission or fee.
There is also a currency exchange machine at the Malta International Airport, located in the Arrivals hall.
Traveller's cheques can be exchanged at financial institutions throughout Malta. If you exchange traveller's cheques at a bank, remember to cash them at no commission, rather than deposit them into an account at a commission rate.
Malta has joined the SEPA (Single Euro Payments Area) initiative, which treats all electronic payments in euros as domestic transactions.
Most banks in Malta offer full electronic and online banking services, including electronic transfers between local and foreign accounts.
Opening a bank account in Malta is relatively easy. Non-residents of Malta must prove they have a good credit rating. Individuals opening accounts will also be asked to provide documentation to support their application. This typically includes:
You may also be asked to provide:
Students opening bank accounts will be asked to provide proof of studies from their educational institution.
Opening a bank account in Malta typically takes two to four weeks. Some credit cards and bank accounts require a deposit when opening an account. Note that banking correspondence, such as new PINs, are typically provided via post.
The main types of bank accounts in Malta are current accounts (used for everyday banking), savings accounts, and deposit accounts.
Major banks in Malta include: