SWIFT/BIC codes in Malta

SWIFT/BIC codes in Malta

On this page you find the SWIFT/BIC codes of 98 banks in Malta – 106 codes altogether. A BIC shows the banks handling a transfer exactly which bank should receive the money.

Look for the bank you need in the list and click through for all codes we have and the details a transfer needs. Further down you can read how codes from Malta are built, how to send money to Malta without overpaying and what to check before you pay.

The cheapest way to send money to Malta

If you send money to Malta via your bank, the fee you see is rarely all of the cost. There is a transfer fee, possibly charges from intermediary banks and, above all, the exchange rate markup.

That exchange rate margin is often the largest part of the cost. Check the rate you are offered with the mid-market rate that you find on financial sites; the gap is what conversion costs you.

Specialised transfer providers often use rates closer to the mid-market rate and lower fees. On GoldexPay you can compare the amount that arrives in Malta across services, so you can pick the cheapest route.

Tracking a payment to Malta

A SWIFT payment to Malta typically takes anywhere from one to several business days, depending on the currency, the route and the banks involved. Transfers sent after the cut-off time or just before weekends and holidays often go out the next business day.

Many banks are connected to SWIFT gpi. Each payment carries a unique reference, the UETR. Specialist transfer services usually show tracking in their app, which makes it easier to see where the money is.

Tga Funds Sicav PLC and its SWIFT codes

Of the 98 banks in Malta, Tga Funds Sicav PLC is listed with the largest number of SWIFT codes. The head office uses TGAFMTM1XXX.

How many codes a bank has says more about how it registers branches and services than about its size. Making a payment to Tga Funds Sicav PLC? Go with TGAFMTM1XXX unless a specific branch code is requested.

Paying in EUR: what conversion costs you

The currency of Malta is the Euro (EUR). When you pay another currency, it gets converted at some point – by your bank, a bank in between or the recipient’s bank.

Which bank converts the payment makes a difference: every bank has its own margin. Often it is cheaper if you send EUR straight away via a provider that converts near the mid-market rate rather than letting the receiving bank convert. Exchange rates move all the time – some providers let you lock in a rate.

Paying in euros to Malta

Within the SEPA zone, euro payments to Malta use the same rules and in most cases need only the IBAN. A field for the BIC is usually optional in that case.

The BIC still come into play for payments in other currencies and for transfers from outside SEPA. Instant euro transfers have become increasingly available across SEPA, though not every bank offers them for every account. As long as no conversion is involved, the transfer is usually inexpensive.

What a sender needs to pay you in Malta

A sender in another country will ask for a few details from you. That means: your name as your bank knows it, your IBAN or account number, the SWIFT/BIC code of your bank and sometimes your postal address.

The code of your bank appears in the list on this page but always compare it with your own bank details. Some banks also want your bank’s address; it does no harm to include it.

The amount you receive can be lower than the amount sent. Correspondent banks can take a fee, your bank may charge for incoming payments, and when currencies differ, an exchange rate margin comes on top. Make clear with the sender who covers the fees.

Recognising a SWIFT code from Malta

SWIFT/BIC codes follow one international format: eight characters. First comes four letters for the bank, then a two-letter country code and two characters for the location.

You can recognise a code from Malta by letters five and six – those always form the country code of Malta. If the country letters do not match Malta, the code belongs to a bank in another country – worth double-checking.

An 11-character code ends in three characters for a branch. For most transfers the head office code is fine, unless the recipient gives you a branch code.

Verifying a SWIFT code from Malta

Ask the recipient to send you the account details straight from a recent statement. If the code you have differs from the code listed here, stop and ask: check with the recipient or the bank.

This list is based on publicly available sources and is updated regularly. Banks reorganise, close branches and change codes – a directory can be a step behind. Treat our data as a starting point rather than the last word; the recipient’s bank details are leading. GoldexPay is an independent comparison service for money transfers.

Fraudsters often use fake invoices with changed bank details that look completely genuine. Before paying, confirm changed details through a separate channel on a number you know.