Money
It is always advisable to bring money in a variety of forms on a vacation: a mix of cash, credit cards and traveller's cheques are ideal. You should also exchange enough cash to cover airport incidentals, tipping and transportation to your hotel before you leave home, or withdraw money upon arrival at an airport ATM.
Currency Name - Euro
Symbol - €
The Euro became the official currency of Malta on 1st January 2008.
Euro notes come in denominations of 5, 10, 20, 50, 100, 200 and 500. It is often difficult to get change for a €500 note.
One Euro is divided into 100 cents or centimes. Coins of 1, 2 and 5 centimes are copper-coloured; coins of 10, 20 and 50 centimes are gold-coloured whilst the 1 and 2 Euro coins are gold-and-silver coloured.
Symbol - €
The Euro became the official currency of Malta on 1st January 2008.
Euro notes come in denominations of 5, 10, 20, 50, 100, 200 and 500. It is often difficult to get change for a €500 note.
One Euro is divided into 100 cents or centimes. Coins of 1, 2 and 5 centimes are copper-coloured; coins of 10, 20 and 50 centimes are gold-coloured whilst the 1 and 2 Euro coins are gold-and-silver coloured.
BANKS There are a few banking chains in Malta namely HSBC, Bank of Valletta, APS Bank, Lombard Bank, Volksbank and Banif Bank. Banks in Malta are open Monday through Friday from 0830 hours to 1245 hours and from 0800 hours to 1130 hours on Saturday.
ATMs & CREDIT CARDS You can find quite a number of Automatic Teller Machines (ATMs) spread over Malta. The machines operate just as they do in other countries. Access, American Express, Carte Blanche, Diners Club International, Master Card and Visa are accepted by most hotels and restaurants and a good number of retail outlets. Card-holders should check with their credit/charge card company for details on merchant acceptability and other services that may be available.
TRAVELLER’S CHEQUE These days, traveller’s cheques seem less necessary because most Maltese cities and towns have 24-hour ATMs, allowing you to withdraw small amounts of cash as needed. But if you prefer to stick to traveller’s cheques, be ready to show an identity card / passport every time you want to cash a cheque. You can buy traveller’s cheques at most banks.
Traveller’s cheques are highly recommended as they can be replaced easily if they are either lost or stolen. Your issuing company should be able to get replacements to you within 24 hours. Ensure you keep a record of your cheques’ serial numbers separate from the cheques themselves.
Generally, storekeepers and restaurants will not accept traveller’s cheques so it is advisable to change a limited amount of money when you arrive at the airport. This is especially important if you arrive in Malta on a weekend when all the banks will be closed.
Traveller’s cheques are highly recommended as they can be replaced easily if they are either lost or stolen. Your issuing company should be able to get replacements to you within 24 hours. Ensure you keep a record of your cheques’ serial numbers separate from the cheques themselves.
Generally, storekeepers and restaurants will not accept traveller’s cheques so it is advisable to change a limited amount of money when you arrive at the airport. This is especially important if you arrive in Malta on a weekend when all the banks will be closed.
PRICE GUIDE In general, the cost of living in Malta is cheaper than in Britain, Italy, France and Germany. Below is a sample price guide:
Bottle of beer € 1.00
Can of soft drink € 0.50
CD € 10.00
Litre of bottled water € 1.00
Litre of milk € 0.75
Souvenir t-shirt € 7.00
Bottle of beer € 1.00
Can of soft drink € 0.50
CD € 10.00
Litre of bottled water € 1.00
Litre of milk € 0.75
Souvenir t-shirt € 7.00
EXCHANGE RATE INDICATOR These currency exchange rates are not updated daily and should only be used as a guideline.
€ 1.00 = USD 1.33 STG 0.88 CAD 1.56 AUD 1.76
€ 1.00 = USD 1.33 STG 0.88 CAD 1.56 AUD 1.76