Euro changeover - no charges

I would like to thank Carmel Calleja for his letter entitled Bank Charges For Conversion (August 2).

Bank of Valletta would like to reassure Mr Calleja and the general public that it will certainly not be applying any charges for the conversion of Maltese lira to euro both through ATMs and over its counters (including its foreign exchange bureaux) during the changeover period, that is, from the beginning of January till the end of March 2008.

Additionally, as from December 1, the Bank will not be applying any charges on Maltese lira to euro and euro to Maltese lira transactions. The actual exchange of Maltese lira notes and coins to euro will commence on January 2, 2008 when we will be offering an extended banking service till 4 p.m. for the first week of January.

As we have stated through various communication channels, the bank continues to recommend to its customers to deposit surplus Maltese lira notes and coins into the banking system. This will ensure that funds will be automatically converted to euro on e-Day.

Bank of Valletta is well aware that the support of the banking sector is crucial for a successful changeover and is committed to continue to play a leading role in the national effort to ensure a smooth and successful changeover for the benefit of the general public. In this regard, BOV, as the Official Partner Bank of the National Euro Changeover Committee, has already committed itself not to increase its fees and tariffs till the end of June 2008. The bank is also supplying to the NECC the BOV Converters that will be distributed to all households later on this year.

More information on the euro changeover and banking services can be found on www.bov.com/euro .