If you’re from Europe, currency conversion is not going to be an issue, as Malta uses the Euro. For everyone else, transferring funds can cost quite a bit. Rather than relying on the bank, who will give you their rate of day and charge you fees for the privilege, you can consider money transfer companies.
If you arrive with foreign currency in Malta that you need to change immediately, there are plenty of banks (although beware of poor rates and high commissions) and money exchange booths that can help. There’s a 24-hour exchange bureau at the airport. You can usually use cash machines to withdraw money too.
If you enter or leave Malta carrying €10,000 or more in cash, you should fill in a declaration form for customs. Failure to do so might mean your money is confiscated.
Salaries might be lower than elsewhere, but there are some notable exceptions, such as the gaming industry. However, it is possible to live quite cheaply in Malta, so a skilled foreign worker will likely end up with as much, if not more, disposable income as they would in other countries, especially compared to much of Northern Europe. Check out the site salariesinmalta.com for a guide or read up more here.
How expensive is it to live in Malta?There’s no doubt that prices are going up in Malta, but most foreigners will still find it reasonable to live here, especially compared to European capital cities. For a list of prices in Malta click here.
What currency is used in Malta?The Euro (€) is used.