What is the Currency in Malta?

What is the Currency in Malta?

If you’re planning a holiday to Malta—known for its historic cities, crystal-clear waters and warm Mediterranean hospitality—it’s useful to understand the local currency before you go. This guide is tailored for UK travellers and explains what currency Malta uses, how to pay for things, and how to manage your money while on the island.

What currency does Malta use?

Malta uses the euro as its official currency. It is abbreviated as EUR and denoted by the symbol €. Malta has used the euro since 2008, when it adopted it as part of the Eurozone.

All goods and services on the islands—including restaurants, taxis, shops, and attractions—must be paid for in euros.

How is the euro structured?

The euro is divided into 100 cents, much like pounds and pence in the UK. Banknotes are available in €5, €10, €20, €50, €100, €200 and €500, although the larger notes are rarely used in daily purchases. Coins come in 1, 2, 5, 10, 20 and 50 cents, plus €1 and €2 coins.

At the time of writing, £1 is worth around €1.15, though this can vary depending on the exchange provider and market conditions. Always check current rates before exchanging or spending abroad.

Can you use British pounds in Malta?

No. The only currency accepted in Malta is the euro. British pounds cannot be used for payment in shops, hotels or restaurants. While prices may occasionally be shown in pounds for convenience—particularly in tourist-heavy areas—transactions must still be settled in euros.

Should you bring cash or use a card in Malta?

Malta has a modern and card-friendly infrastructure. Debit and credit cards (especially Visa and Mastercard) are widely accepted, and contactless payments and mobile wallets like Apple Pay and Google Pay are becoming increasingly common.

That said, it’s still wise to carry a small amount of cash in euros, particularly when visiting smaller towns, markets, or using taxis where card facilities may be limited or unavailable.

UK travellers should consider using a fee-free travel card such as those offered by Monzo, Starling or Revolut, which help avoid extra charges on foreign transactions and withdrawals.

Where to get euros for Malta

You can order euros in advance from UK currency providers or banks before your trip. Alternatively, you can withdraw cash from ATMs in Malta, which are widely available and accept most UK-issued cards.

Avoid exchanging money at the airport, where rates tend to be poor. Instead, use ATMs at reputable banks or exchange currency in central tourist areas for better value.

Tips for managing money in Malta

• Carry both cash and card for maximum flexibility

• Always choose to pay in euros, not pounds, when using your card abroad

• Avoid dynamic currency conversion, which gives you a worse exchange rate

• Carry small denominations for tips, snacks and local buses

• Keep an eye on your bank’s overseas charges or use a travel-friendly account

Common mistakes to avoid

Some travellers mistakenly assume that Malta, having strong ties with the UK, might accept sterling. This is not the case—only the euro is accepted. Another common error is using UK bank cards without checking fees, which can lead to unnecessary costs during your trip.

In summary

Malta uses the euro (EUR) as its official currency. While card payments are widely accepted, having some cash on hand is useful for smaller purchases. UK travellers can save money and avoid hassle by using fee-free travel cards, avoiding airport exchanges, and always paying in euros.