Banks waive charges

Banks are accepting euro banknotes deposited by business customers into Maltese lira accounts at the irrevocably fixed conversion rate of €1 = Lm0.4293, free of exchange charges that may normally be applicable to these foreign currency deposits. This...

Banks are accepting euro banknotes deposited by business customers into Maltese lira accounts at the irrevocably fixed conversion rate of €1 = Lm0.4293, free of exchange charges that may normally be applicable to these foreign currency deposits.

This is in line with the commitment the Malta Bankers' Association gave the National Euro Changeover Committee to waive exchange charges on euro banknote deposits once Malta's entry into the euro area as from next January 1 was officially confirmed.

This arrangement is limited to euro banknotes that businesses need to settle for goods sold or services provided to consumers.

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