Money & Payments in Valletta

Availability

Widely available in Valletta, shopping centers, along major bus routes, ferry terminals, and most populated areas. Most machines are 24/7 in central Valletta, Sliema, and tourist zones.

Withdrawal Limits

Usually €250–€1,000 per day (varies by card issuer and ATM provider).

Card Types Accepted

Visa, Mastercard, Maestro, Cirrus, Plus, CUP, American Express accepted at most ATMs.

Dynamic Currency Conversion

Avoid. Always choose euro withdrawal, not conversion to your home currency. DCC uses poor exchange rates with hidden markups.

Currency

Euro (EUR)

Note

Malta's official currency. No foreign currencies accepted by legitimate establishments.

Overview

Cards work in most tourist and commercial areas; cash remains essential for smaller establishments.

Contactless

Accepted at the vast majority of restaurants, bars and shops in tourist areas. Less reliable in rural villages, markets, and from street vendors.

Visa Mastercard

Widely accepted at restaurants, hotels, supermarkets, bars, shops, taxi apps (Bolt, eCabs), and petrol stations.

American Express

Accepted at larger hotels and upscale restaurants in Valletta and Sliema, but often refused at smaller establishments.

Savings Account

Interest-bearing accounts with restricted withdrawal terms.

Non Resident Account

Available but with stricter documentation requirements and sometimes annual 'international client' fees.

Personal Current Account

Standard checking account for everyday transactions, bill payments, and money transfers.

Early Closure

Account closure before minimum period may incur penalties

ATM Withdrawals

May incur fees, especially outside home bank network

Minimum Deposits

Some banks require deposits (€50–€500); PostaPay and some digital banks have lower or no minimums

Transaction Fees

Charges apply for payments, international transfers, and other services less commonly charged in other EU countries

Monthly Maintenance

Most banks charge €0 on current accounts

International Transfers

Subject to exchange rate margins and transfer fees

Neobanks

Narvi Pay (Finnish-licensed EU bank) offers accounts entirely online with faster approval.

Wise Account

Multi-currency account with EU bank details; opens online without proof of Malta residence; good for EU/EEA/UK/Swiss residents.

Step 1

Book appointment in advance (banks have narrow working hours)

Step 2

Gather documents specific to your chosen bank

Step 3

Visit branch in person for verification and submission (some banks allow initial online application but require in-person finalization)

Step 4

Banks verify documents and conduct due diligence (can take weeks to months)

Step 5

Account opened; debit card issued in-branch or by mail

Typical Timeline

3–7 business days for approval; corporate accounts may take up to 10 weeks

Non Resident Challenges

• Stricter documentation and due-diligence requirements than many EU countries
• Non-EU citizens typically charged annual 'international client' fees
• Requirements inconsistent across banks and branches; expect variation
• Processing can take months as banks scrutinize full banking history
• Proof of address in Malta preferred (utility bill or lease) but may be possible without

General Tip

Obtain Maltese residency permit first; dramatically simplifies banking and removes some fees

For EU Residents

MeDirect (full online, no references) or Bank of Valletta (after obtaining residence) offer best balance of ease and full services

For Non Residents

PostaPay for quick debit card setup; Wise or Narvi if staying in EU/EEA/UK/Switzerland