Malta Guide: Money

Our money guide provides information on bank accounts, money exchange, credit and debit cards and money transfers. If you need to open a bank account, read our Malta money guide which will tell you exactly what you need.

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  Introduction

  Currency and banks in Malta

  The Malta Banking System is regulated by the Malta Financial Services (MFSA), and laws and regulations are in line with EU directives.

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  Opening a bank account

  Documentation required in Malta

  Opening a bank account in Malta is usually a simple process if you meet the terms and conditions that are expected from you. Bank accounts are not confined to solely Maltese residents. Non residents and foreign companies can also open an account in Malta.

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  Money in Malta

  Paper & plastic

  Tourism is an important industry in Malta, therefore there are many money exchange services and ATM’s around the island. Some establishments also accept foreign currencies.

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  Money transfers

  How to transfer money in Malta and abroad

  There are many ways in which you can transfer money in Malta or abroad. These methods are all convenient and safe, but you should check for the transfer fees implied as these can be quite significant.

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  Insurance

  Insuring yourself against damages and liabilities.

  The primary aim of Maltese insurance companies is to reimburse you in case of any health problems, loss of belongings, damages or liabilities. You are required to prepay insurance companies who will then refund you if anything happens to go wrong.

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