Beat your bank’s foreign exchange rates when making a currency transfer to or from Malta & secure a faster completion time by using a specialist money transfer broker – recommendations below:
|BROKERS||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATE: GBP/EUR||MORE DETAILS|
|CURRENCIES DIRECT||£100||1 DAY||0.7 to 1.0%||€1.11 to €1.115||INFO|
|GLOBAL REACH||£3000||1 DAY||0.8%||€1.111||INFO|
|CURRENCY SOLUTIONS||£1000||1 DAY||1.0%||€1.11||INFO|
|BROKERS||MIN. TRANSFER||SPEED||FX MARGIN RATE||*GUIDE RATE: EUR/GBP||MORE DETAILS|
|CURRENCIES DIRECT||€100||1 DAY||0.7 to 1.0%||£0.883 to £0.886||INFO|
|GLOBAL REACH||€3000||1 DAY||0.8%||£0.884||INFO|
|CURRENCY SOLUTIONS||€1000||1 DAY||1.0%||£0.883||INFO|
Table *GUIDE RATES are updated daily (Monday to Friday) at 09:00 GMT.
Are you looking to send money to Malta? Beat bank exchange rates when making an overseas UK pound or euro money transfer to a Maltese bank account. Specialist foreign exchange companies can save you time and money over a traditional bank transfer service.
Malta has been a member of the European Union 2004 and adopted the euro as its official currency in 2008, replacing the Maltese lira. Moving to Malta is especially popular among expats from the UK, who are drawn by the sunny lifestyle and the fact that English is widely spoken. British nationals make up the lion’s share of foreigners living in Malta, with over 6,500 out of approximately 20,000 non-Maltese residents holding a UK passport, of which many will need to transfer money to or from Malta at some point.
Transfer Supermarket recommended foreign exchange companies in the above tables are calculated on Maltese office location coverage together with the lowest foreign exchange margin rates offered. Further details below:
Compare the latest UK pound (GBP) and euro (EUR) foreign exchange rates offered by major Maltese high street banks. Skip to: Malta Euro Bank Transfers
Pz360, St Mary’s Terrace, Penzance TR18 4DZ, United Kingdom
Sending money to or from Malta? Find answers with Transfer Supermarket to frequently asked questions regarding international money transfers and related technical jargon.
An international currency transfer is typically a financial “bank account to bank account” transaction where funds are sent overseas, to another country, currency and bank account.
Interbank foreign exchange rates are wholesale rates that banks use, also known as live foreign exchange rates.
An FX margin rate is the amount the bank, broker or foreign exchange bureau adds onto the interbank foreign exchange rate when they quote the rate for a money transfer. The smaller the margin rate, the less it will cost you.
Typically, for private transactions, brokers offer the best exchange rates for overseas money transfers into other currencies. Brokers offer much lower margin rates than banks, meaning that you’ll receive a better overall deal.
Getting the best deal on your money transfer is as simple as finding out what your local bank will offer, and then comparing the deal to what you would receive by using a broker. Try and negotiate a fixed FX margin rate from the interbank rate with your broker, as generally, high street banks are unlikely to offer this type of agreement unless you are a corporate customer making regular money transfers abroad.
If you’ve had a quotation for a money transfer and now you’ve decided to make a trade, only to see that the deal no longer looks as good, it’s the fluctuation in the exchange rate that has made the difference.
Most brokers now offer instant bank to bank money transfers for clients who are trading in major currencies, otherwise the time scale is typically 1 to 3 days. Banks will normally complete money transfer transactions in around 5 to 7 working days.
Of course. All brokers that are listed on Transfer Supermarket are authorised by the UK FCA (Financial Conduct Authority), which means that your money is safe as all client funds are safeguarded and held in segregated accounts.