Banking

HSBC, Bank Of Valletta and APS Bank are the three main banks found across the Island. Bank of Valletta is commonly known as BOV.

HSBC  List of Branches:-    https://www.hsbc.com.mt/1/2/find-a-br...

BOV List of Branches:-    http://www.bov.com/page.asp?n=branche...

APS Bank List of Branches:- http://www.apsbank.com.mt/en/branches...

There are other banks on the island which are branches from other bigger foreign banks like Lombard, Banif and so on.

A total list of banks can be found at  :- http://en.wikipedia.org/wiki/List_of_...

There are a number of automated teller machines in most areas that will also accept foreign Credit Cards . If you would like to change your currency into Euro , then there are currency converter machines that are situated in the main tourist areas.

For foreign visitors wishing to open bank accounts on the island,most branches have a New accounts section open to the general public , but a popular one is the  HSBC branch in  Tower Road, Sliema has a very good range of international accounts and knowlegeable staff. You will have to provide details of your home Bankers. The local bank will contact them asking for a Bankers reference and as soon as it is received your account will be operative.

Exchanging money

You can exchange and withdraw money at various places on the island, incluing ATMs, Banks, Hotels and Local tourist offices. Travellers Cheques are also welcomed.  Remember that most hotels are making a profit on the transaction.

Credit cards accepted on the island are VISA, Mastercard and limited American Express. Switch Maestro and Cirrus cards are valid in the main ATMs.  Whenever possible use an ATM that is part of a branch not a stand alone.  During office hours ,if something goes wrong ,and your credit card is witheld by the ATM , a staff member can open up the ATM and return your card (against  identification of course). If the Bank is closed, make sure you go the next day to retreive your card. At the end of that day's open hours the card is sent to the Banks Card Centre and sent back to the issuing Bank in the country of origin. Obviously, if the reason for the ATM gobbling the card is "Retain Card" the branch will not be able to give it back to you.

Currency

The currency in Malta is the Euro since  January 2008, the currency in notes and in coins consits of  Euro 1 = 100cents, as in all the Euro countries.

If by chance you may still have recently issued  Maltese Lira , the paper money may still be exchanged at the Central Bank till 2018.

Further details can be obtained from the Central Bank of Malta website .

http://www.centralbankmalta.org/site/...

Exchange rates to the now obsolete Maltese Lira

1 MTL = 2.33 EUR     1 EUR = 0.43 MTL .

Purchasing

Some shops in Malta accept other foreign currencies , but beware of the exchange rate applied ! and the change given.This practice is not advisable and officially,  unlicensed money exchange is illegal ,altough accepted as a form of payment for services rendered.

VAT in Malta is at 18%.

As of today May 2009