The Cheapest Ways to Send Money to Malta


Send money to Malta using an international money transfer service and you could beat the bank’s rates.

With a growing number of Canadian expats living in Malta and over 38,000 Maltese descendants in Canada, there is a need for affordable and quick ways to transfer funds between the two nations.

While many Canadian banks do allow transfers between Canada and Malta, specialist online money transfer services offer more competitive rates and lower fees for sending money between the countries. They also offer faster transfer speeds and different options that may suit your transfer needs.

Compare money transfer services below

Rates last updated June 24th, 2018
Name Product Min. Transfer Amount Transfer Speed Services Description Online Transfer Fee Rate Amount Received
TorFX International Money Transfers
USD 150
1 day
Online, Phone, Agent
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.

Send money overseas in 45 currencies.
WorldRemit International Money Transfers
CAD 0.51
Within an hour
Online, Bank Account to Bank Account, Cash Transfer
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
Exclusive: OFX (Ozforex) International Money Transfers
USD 150
1 day
Online, Phone, Agent
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

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Thanks to the fact that English is widely spoken in Malta, there is a sizeable Canadian community there.

As far as trade and diplomatic relations are concerned, the two countries have a lot in common thanks to their membership in the Commonwealth. Canada shares an excellent relationship with Malta based on trade, immigration and democratic values.

Banks versus money transfer companies

Antonio’s parents have decided to move back to their native Malta after 35 years in Vancouver. They still own their house in Valletta, but they’ll need help with a few renovations once they are resettled. Antonio will be sending money to his parents regularly, so he needs to find a cheap, effective transfer service. He compares the cost of sending money via his Canadian bank to the fees charged by a specialist money transfer service.

Canadian BankMoney transfer service
Exchange rate$1 CAD = 0.64 euros$1 CAD = 0.66 euros
Transfer feeCAD$25CAD$4
Amount received for $500€320€330
Transfer time2-5 business daysLess than 24 hours
Transfer optionsBank, phone or onlineOnline only
Difference+ €10

If Antonio chooses to send the money via a specialist money transfer service, his parents will receive an extra €10 each month. Furthermore, he will save $21 in fees each time and the transfer speed is much faster.

How do I compare money transfer companies when sending and receiving money between Canada and Malta?

  • Exchange rates. When comparing money transfer services, the best combination is a service that provides a competitive exchange rate, low or no fees for the transfer and conversion, and quick delivery speeds. If the transfer is not urgent, focus on comparing the exchange rate being offered with the fees that will be charged.
  • Pick-up methods. These include direct deposits into your recipient’s bank account or collection of the funds in person at the service’s agency.
  • Fees. Depending on the service, you may be charged for the transfer as well as the cost of converting your Canadian dollars to euros. The service might also charge different fees for transfers above a certain amount.
  • Same-bank transfers. If your recipient holds an account with the same bank in Malta – HSBC, for example – sending money between accounts is free.
  • Turnaround time. Your choice depends on how urgently your recipient needs the money. Deposits can be received within minutes or up to three business days. Sometimes transfers can take up to six days.
  • Transfer methods. This depends on what works best for you. Most services allow online transfers as long as you sign up for an account. Otherwise, you can send a transfer over the phone or in person.
  • Transfer options. Different services offer different sending options. Your choice depends on how often you’ll be making transfers, as well as how much money you will send and to what country. Choose between regular payments, one time transfers and market orders for large purchases.
  • Minimum transfer amounts. Some services require that you send a minimum amount, usually between $5 and $50 Canadian dollars.
  • Customer service. Choose a money transfer provider that has a reputable customer service team. Some companies may be available 24/7, while others may only be available for a few hours a day. Choose a company that offers phone, email and chat services.

How do I send money to Malta from Canada?

There are several money transfer companies offering transfer services between Canada and Malta. Here are a few options to consider when sending money to Malta.

  • WorldRemit. This online transfer service sends money to your recipient’s bank account via bank transfer. Money is delivered between one and three business days.
  • TorFX. This service also transfers money online directly to your recipient’s bank account. Exchange rates are competitive and money is available between one and three business days after the transfer.
  • TransferWise. Transactions are processed within one business day for a fee of around $10. Exchange rates are competitive and an online support team is available 24/7 to assist with problems.

How do I receive money from Malta in Canada?

If you need money quickly, the best way to send it to Canada from Malta is by using an online money transfer service. You can have money deposited directly into your bank account or collect it in person from the agency’s branch location or pick-up point. It’s best to go with the better-known companies like MoneyGram and Western Union – these have a wider network of agencies and pick-up points around Canada.

  • MoneyGram. You can make an online transfer to your recipient’s bank account or have them pick-up cash. Money sent to a pick-up location is available within minutes. Fees vary depending on the country you are sending the money to.
  • WorldRemit. This is a reliable service that sends money via bank transfer for a small fee. The deposit is available in between one to three business days.
  • Bank to bank transfer. Two account holders in the same bank can transfer money for zero fees. However, it’s a good idea to check the exchange rates offered since banks tend to give poor exchange rates. It may work out in your favour to pay a small fee with an alternative company for a better exchange rate.

Emergency cash transfers in Malta

If you’ve lost your wallet or purse or had it stolen while in Malta, there are a few alternatives available to get your hands on money in a hurry.

  • Pick-up service. Online transfer services like MoneyGram and Western Union offer a pick-up service where you can collect your deposit in person at a designated pick-up point. Money is available within minutes of the transfer. Take along your reference number and at least one piece of identification, like a passport.
  • Banks. If you find a branch of your bank in Malta, explain your situation and ask whether they can help you access your account or have your Canadian bank send funds there for pick-up.
  • Travel insurance. Your travel insurance policy usually provides coverage for loss and theft while travelling, but make sure that you’re eligible before filing a claim. You will need to report a stolen wallet or bag to the police immediately, after which you’ll get a police report to send to your insurance company. Keep in mind that this process might take a while before you’re granted access to funds.

Cash pick-up locations in Malta/Western Union/ MoneyGram branches in Malta

If you’re using Moneygram or Western Union to send money to Malta, here are a few locations from which you or your recipient can collect the funds.

Western Union


  • Malta Post
    Old Bakery Street Vallete, VLT1185 +356-21224421Open Monday to Friday 08h30 to 14h00, Saturday 08h30 to 13h00
  • Emigrants Commission
    Castille Place Valletta, VLT1062 +356-80073773Open Monday to Friday 09h00 to 18h00, Saturday 09h00 to 11h00

Saint Julian

  • FexServ Financial Services
    66a St Georges RoadSt Julians STJ3204 +356-80073773Open Monday to Sunday 09h30 to 20h00
  • Chaucer’s Books and Stationery
    Level 1 F8 Baystreet Tourist Complex St Julians, STJ 3311 +356-23721111Open Monday to Sunday 10h00 to 22h00



  • Bank Aysa
    Cemaliye Mah. Omurtak Cad. 236/1Tekirdag CorluPhone: 59850 02826532240Open Monday to Friday 09h00 to 17h00
  • Kuveyt Turk Corlu
    Omurtak Cad No 79 2 Heykel CorluPhone: 0 902123541212Open Monday to Friday 08h30 to 17h00

Saint Julian

  • Telecom Services Limited
    6 Ross Street, Paceville, St Julians STJ 3246, MaltaOpen Monday to Friday 09h00 to 17h00, Saturday 09h00 to 12h30

Tips for picking up cash in Malta

The Government of Canada recommends that Canadian travellers exercise normal precautions when travelling in Malta, remaining vigilant about pick-pockets and robbers.

If you need to collect money, go during the daytime and avoid public transportation with large sums of money. Take a friend with you and be aware of your personal belongings.

How to send money to Malta

Depending on the service you choose, you will likely need to supply the following information:

  • Personal information
  • Contact details and email address
  • Bank details
  • Your recipient’s personal and bank-account information
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