For anyone who has had difficulty setting up a Maltese Bank account and getting a Debit Card which can be used for pretty much all types of transaction, Transferwise now do a Master Card backed Debit card.
You need to have a Transferwise account ( which I and many others use to get currency transfers to Maltese account with a favorable exchange rate) and then set up what they call 'Borderless' banking in almost any currency. You are given 'Virtual accounts' in currencies of your choice and can then top up those accounts with that currency, apply for the Debit Card and away you go.
I had an account from not long after they started and was offered a Debit card last month.
I tried it out, transferring funds online in to my Euro account ( which has an address in Munich with all necessary IBAN codes etc) from my UK bank and the currency was transferred in 30 seconds, the cash was immediately available for me to draw from an ATM here in Gozo!
It is usable online and normal chip and pin or contactless payments among other things.
All with very low fees!
Ray
Debit Card without a Maltese bank!
Already got one ... are you on commission? 
RayAucote wrote:Already got one ... are you on commission?
I wish!
The main draw is that I can access urgent cash here in Gozo almost instantly at the same exchange rate as a normal transfer as opposed to using my UK bank debit card and getting a rubbish exchange rate plus charges.
Ray
I also use Revolut which is also a prepaid Mastercard. The main difference is that Revolut don't charge for the transfer and have almost identical exchange rates to Transferwise. Cash withdrawal at machines free up to €200 pcm and its instant load from UK bank.
I can load my Revolut from UK and withdraw at machine in about 3 minutes. Their only drawback is they tend not to update the exchange rate much at the weekends and generally fall a little behind Transferwise until Mondays.
I think they offer a Euro account as well.
I've not actually put the Transferwise card to use yet.
Ray
RayAucote wrote:I also use Revolut which is also a prepaid Mastercard. The main difference is that Revolut don't charge for the transfer and have almost identical exchange rates to Transferwise. Cash withdrawal at machines free up to €200 pcm and its instant load from UK bank.
I can load my Revolut from UK and withdraw at machine in about 3 minutes. Their only drawback is they tend not to update the exchange rate much at the weekends and generally fall a little behind Transferwise until Mondays.
I think they offer a Euro account as well.
I've not actually put the Transferwise card to use yet.
Ray
You would need to set up your borderless account first and choose which currencies, of which there are many.
You then have your own bank account in each of those currencies with individual Swift codes, IBAN's etc and can be used much like normal banks to send and receive money, make payments etc.
It also means those transactions do not show on Maltese bank accounts!
Ray
F0xgl0ve wrote:It also means those transactions do not show on Maltese bank accounts!
Ray
but if there is ever a audit, they have the right to request those records. So don't think its a way to avoid taxes on those withdrawals 
volcane wrote:F0xgl0ve wrote:It also means those transactions do not show on Maltese bank accounts!
Ray
but if there is ever a audit, they have the right to request those records. So don't think its a way to avoid taxes on those withdrawals
Wouldn't dream of it!
Ray
RayAucote wrote:I also use Revolut which is also a prepaid Mastercard. The main difference is that Revolut don't charge for the transfer and have almost identical exchange rates to Transferwise. Cash withdrawal at machines free up to €200 pcm and its instant load from UK bank.
I can load my Revolut from UK and withdraw at machine in about 3 minutes. Their only drawback is they tend not to update the exchange rate much at the weekends and generally fall a little behind Transferwise until Mondays.
I think they offer a Euro account as well.
I've not actually put the Transferwise card to use yet.
Ray
I use Revolut too. Cracking service and very similar . I've provided source of wealth documents to them, and my wife got a card, so I can put funds on the card and sent it straight to her and it's just a nice all around way of managing money. I can also transfer funds to my Australian bank account and change currencies at an excellent rate, fee free. Can also have a UK account or EU account to get paid into. I know a few Europeans that are now using it to get salary paid into from Maltese employers with zero problems.
F0xgl0ve wrote:RayAucote wrote:I also use Revolut which is also a prepaid Mastercard. The main difference is that Revolut don't charge for the transfer and have almost identical exchange rates to Transferwise. Cash withdrawal at machines free up to €200 pcm and its instant load from UK bank.
I can load my Revolut from UK and withdraw at machine in about 3 minutes. Their only drawback is they tend not to update the exchange rate much at the weekends and generally fall a little behind Transferwise until Mondays.
I think they offer a Euro account as well.
I've not actually put the Transferwise card to use yet.
Ray
You would need to set up your borderless account first and choose which currencies, of which there are many.
You then have your own bank account in each of those currencies with individual Swift codes, IBAN's etc and can be used much like normal banks to send and receive money, make payments etc.
It also means those transactions do not show on Maltese bank accounts!
Ray
I already have all the accounts for both Revolut and Transferwise.
As for the taxation issued mentioned in other posts, I have to earn enough to pay tax, I wish..
RayAucote wrote:F0xgl0ve wrote:RayAucote wrote:I also use Revolut which is also a prepaid Mastercard. The main difference is that Revolut don't charge for the transfer and have almost identical exchange rates to Transferwise. Cash withdrawal at machines free up to €200 pcm and its instant load from UK bank.
I can load my Revolut from UK and withdraw at machine in about 3 minutes. Their only drawback is they tend not to update the exchange rate much at the weekends and generally fall a little behind Transferwise until Mondays.
I think they offer a Euro account as well.
I've not actually put the Transferwise card to use yet.
Ray
You would need to set up your borderless account first and choose which currencies, of which there are many.
You then have your own bank account in each of those currencies with individual Swift codes, IBAN's etc and can be used much like normal banks to send and receive money, make payments etc.
It also means those transactions do not show on Maltese bank accounts!
Ray
I already have all the accounts for both Revolut and Transferwise.
As for the taxation issued mentioned in other posts, I have to earn enough to pay tax, I wish..
Not so much how much you earn as how much is remitted over here. If we still lived in the UK we would not be liable for tax as our total income is less than the allowances of some £11,000 each but here you are talking allowances of around €9000 or about £7,800 each!
Ray
As I said, I wish
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