Money can be exchanged in banks, bureaux de change (which are open 24 hours a day), some hotels and larger shops and restaurants. There are also automated foreign exchange machines available at various locations around Malta. As well as exchanging foreign currencies, many hotels and restaurants allow you to pay in foreign currencies which is handy if you are only in Malta for a short period of time.
Word of warning - if you’re thinking about using travellers cheques, don’t. They are almost impossible to use.
American Express, Diner’s Club, Mastercard and Visa are accepted everywhere on the island. If you do not wish to open a Maltese bank account, you can use your foreign bank card in Malta. All ATM's in Malta that belong to HSBC Malta and the Bank of Valletta are linked to both Visa/Electron/Plus and Mastercard/Cirrus/Solo/Maestro. If one of these logos appear on your card, you will be able to withdraw money. Similarly, if the logo appears in a shop window, you can use your card to purchase goods there. Some shops however do not accept cards displaying the Electron/Solo logo.
Debit cards are also accepted at ATM's in Malta, providing your bank has authorised the card for international use on the Visa plus or Mastercard cirrus systems. Banks issue various cards on these systems therefore it is best to check with your bank before travelling to Malta, if your card is authorised there.