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Money matters

Transferring money

No, really... it does!
But does it matter more in Malta than at home?

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Transferring money

Postby bennylas » Sat 17 Jan 2009 20:42 GMT

If you make the step on a day to move to Malta or gozo. How do you transfer your savings of your bank account as an European to an bank in Gozo or Malta?
We want a legal way off course?

Thanks.
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Postby gozomark » Sat 17 Jan 2009 21:04 GMT

you don't have to bring it into Malta - you can leave it where it is, or put it offshore. If you do decide to do it, then a bank transfer is one good way esp. if its already in Euros
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Postby bennylas » Sun 18 Jan 2009 01:50 GMT

I don't think (it's euro's) that it doesn't gives us profit when we leave it on a bank in our home country. If you're going to live in for example you can better put it on a local bank I suppose?
So you just go to the bank in Malta and they transfer your money from your bank in your home country to a Maltese account? Is this correct?
And an other question is: the amount doesn't make problems to customs,or other governmental services because it's EU? Correct???
Thanks.
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Postby Mr Kriss » Sun 18 Jan 2009 04:22 GMT

Bank transfers don't normally need to be reporrted, but if you carry cash through the airport you do need to declare anything over 10,000 Euro.

One you open an account here, you can issue instructions to your current bank to trasnfer funds to your new account. They will normally charge you a fixed fee for transfer (i.e. not a percentage of the amount transferred).

Depending on the amount involved, you may want to look at differences between deposit guarantees and interest rates before deciding where to keep the bulk of it.
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Postby bennylas » Mon 19 Jan 2009 18:09 GMT

okay thanks
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