Budgeting App for Expats in Malta

Malta is in the euro area, so daily life runs on euros¹. A practical setup is a Maltese euro account for daily life, an account at home for what stays behind, and a multi-currency account in between for moving money across.

Borderless Budget connects to Bank of Valletta through a secure bank connection. Other Maltese accounts come in by CSV import.

Major banks for expats

• Bank of Valletta

Cash vs. card culture

Malta still leans on cash. In 2024, cash made up 67% of point-of-sale payments, the top of the range across the euro area². Cashless options are catching up: the ECB singled out Malta for a particularly large rise in reported acceptance of cashless payment methods, 15 percentage points between 2022 and 2024².

Malta has long been cheaper than much of central Europe, but that's changing quickly as housing, insurance and general prices rise³.

If you earn or save in dollars, pounds or another currency, the exchange rate decides what your euro rent costs you each month. Seeing every account in one home currency shows the real trend instead of a guess.

Transferring money to Malta

• Compare the exchange rate and the fee together when you move money into euros. A transfer with no fee can still cost more if the rate is worse.
• Keep enough euros in your Maltese account at the start of each month so rent never depends on that day's exchange rate.
• If you're paid in another currency, a fixed monthly transfer is easier to budget than converting whenever you remember.
• Keep a home-country account open for bills that stay behind, like a phone plan, insurance or a mortgage.

Borderless Budget tracks all of your accounts, your home-country bank, your Maltese bank, and services like Wise or Revolut, in a single dashboard. Exchange rates update daily, so your budget always reflects where things actually stand.

• For 2026, single rates are 0% on chargeable income up to EUR 12,000, 15% up to EUR 16,000, 25% up to EUR 60,000 and 35% above that³.
• Someone domiciled and habitually resident in Malta is taxed on income in Malta and abroad, while a foreign resident employed in Malta pays tax only on income earned in Malta and foreign income that arrives in Malta³.
• Employers deduct income tax at source each month³, so budget from your net pay, not your gross.

1. Budget your Maltese life in euros. Rent, groceries and bills are all in EUR, and converting each one back to your home currency adds noise, not clarity.
2. Set money aside before you sign a lease. Landlords usually ask for a deposit of about one month's rent, rent is paid in advance, and an agent's fee of one month's rent plus VAT is shared between tenant and landlord³.
3. Register for a Tallinja Card early. Free bus travel³ takes a whole line out of your budget.
4. Give cash its own line. Cash was used for 67% of point-of-sale payments in Malta in 2024, the highest share in the euro area survey².
5. Keep your home-country bills in their own currency so you can see what Malta actually costs you.

Connect your Bank of Valletta and home-country accounts

Link your Bank of Valletta account alongside your home-country bank. Transactions from all accounts sync automatically into one dashboard, and other Maltese accounts come in by CSV import.

Budget in EUR and your home currency

Your budget is set in your home currency, and Borderless Budget automatically converts every transaction, whether it's in euro or your home currency. You can toggle any transaction to see the original currency amount. Exchange rates update daily, so your budget always reflects reality.

Automatic categorization

Transactions from Maltese merchants are automatically categorized. Categorization improves as you use the app, learning your patterns across both currencies, so you spend less time sorting transactions and more time living your life in Malta.

See the impact of exchange rates

When exchange rates shift, your combined budget view updates automatically. You'll see exactly how currency movements affect your overall spending, no surprises, no guesswork.