Studying abroad in Malta as an international student? Congrats on this exciting opportunity! Whether you're prepping for a semester, summer program, or full degree in Malta, one important item on your to-do list is setting up a local bank account.

With so many banks to choose from, selecting the best option for international students in Malta can feel overwhelming. But don't worry, we've got you covered with this post on the top banking choices for international students.

Get ready to ace your finances and enjoy a hassle-free semester or study abroad experience in Malta!

Exploring Different Types of Banks in Malta for International Students

Malta has a great banking system, with different options for international students like you! Let's break down the different types of banks to help you find the perfect fit.

• Local Banks: These are Maltese banks, like the Bank of Valletta (BOV) or APS Bank. They are well-established, with branches all over Malta, making it super convenient to pop in and talk to someone face-to-face. Local banks might cater more to the Maltese population, but they still offer accounts and services perfect for international students. It is important to understand how to open a bank account in Malta, to get yourself prepared for the required documents and procedure.
• International Banks:  These international banks bring the comfort of a familiar brand and the reach of a global network. If you already have an account with an international bank back home, this could be a convenient choice. Examples include Sparkasse Bank Malta and HSBC. However, some international banks might have fewer branches compared to local players.
• Online Banks: Banks like MeDirect Bank and OhentPay in Malta do everything digitally, with no physical branches. This can be awesome for international students who love the convenience and potentially lower fees.

OhentPay is a mobile app that lets you send and receive money internationally swiftly and at the best rates.  With Ohentpay, you can send and receive money to over 190 countries, and exchange over 40 currencies. So you can send or receive support from loved ones back home without delay. 

The Best Banks for International Students in Malta

APS Bank.

Features of APS Bank: Student account with welcome bonus, interest on savings, free debit card and online banking, financial planning advice, investment opportunities with fee discounts. Loan options for education and personal needs. Credit cards with cashback and insurance benefits.

Pros for international students in Malta: Comprehensive package tailored to students, free financial guidance and investment options.

Bank of Valletta (BOV).

Features of Bank of Valletta (BOV): Extensive branch network for in-person banking. Student accounts with potential perks like free debit cards and mobile banking. Competitive rates and online banking features for international students.

Pros for international students in Malta: Convenient branch network, familiarity for those used to traditional banking.

HSBC Malta.

Features of HSBC Malta: Recognized brand with global reach, convenient if you already have an HSBC account back home, you may even set up an account virtually before getting to Malta. Offers student accounts, you can confirm the type and services that come with the student accounts.

Pros for international students in Malta: Familiarity and international network.

Sparkasse Bank, Malta.

Features of Sparkasse Bank, Malta: Part of a larger Austrian banking network, offering personalized services and multi-currency accounts. May have student accounts (details to be confirmed).

Pros for international students in Malta: Personalized service and multi-currency accounts could be beneficial for managing funds in different currencies. Might appeal to students from Austria or those familiar with the brand.

MeDirect Bank.

Features of MeDirect Bank: Fully digital bank, ideal for tech-savvy students. Potentially lower fees associated with online-only operations.

Pros for international students in Malta: Convenience, potentially lower transaction fees.

Wrapping Up

From local banks in Malta like APS Bank and Bank of Valletta to online banks like MeDirect, Malta's banking system caters to diverse international student needs. When choosing a bank to use, consider factors like branch access, mobile banking features, and international transaction fees when making your choice.

If you’d like to send money anywhere in the world from Malta and you prefer fast transfers at great rates, we recommend the OhentPay money transfer service. Create an account to get started here.

Share this post with a friend you think might need this.