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| Frequently
Asked Questions |
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| Can I cash cheques at the Central Bank of Malta? |
| Can I buy/sell foreign currency at the Central
Bank of Malta? |
| Can I open an account with the Central Bank of
Malta? |
| Does the Central Bank of Malta offer any other
services to the general public? |
| Which
Maltese lira banknotes and coins are still redeemable? |
| What do I do if I suspect that a currency note
or coin is counterfeit? |
| Can I obtain any of the Central Bank of Malta publications
directly from the Bank? |
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Can
I call at the Bank to extend the date of a cheque (drawn on
the Central Bank of Malta) which
has become "stale"?
No, only the drawer of a cheque can effect such changes. If the
expired cheque has been issued by a Government department, the
payee should contact that department to renew its date.
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Can
I cash cheques at the Central Bank of Malta?
Only cheques drawn on the Central Bank of Malta itself can be cashed
at the Bank.
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Can I buy/sell foreign currency
at the Central Bank of Malta?
No. Any transactions of a commercial nature
by the general public must be effected through a commercial bank.
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Can I open an account with the
Central Bank of Malta?
No. Since the Central Bank of Malta is not a commercial bank, it
does not offer commercial banking services, such as the opening
of accounts, to the general public.
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Does the Central Bank of Malta
offer any other services to the general public?
The Bank cashes Maltese notes and coins which are taken out of
circulation. The dates when such notes/ coins are due to be taken
out of circulation and the periods during which these may be exchanged
at the Bank are advertised extensively in the media.
Coins issued by the Bank for numismatic purposes are available
for sale from the Malta Coin Distribution Centre housed within
the Bank itself.
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Which Maltese
lira banknotes and coins are still redeemable?
When new notes are issued, the previous notes remain exchangeable
without any loss, initially at all banks and later at the Central
Bank of Malta for a period of 10 years from publication of notice
in the Government Gazette.
Currently there are two series of Maltese banknotes which
are redeemable which are the 4th Series and the 5th Series banknotes.
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The only banknote in the 4th Series
that is redeemable is the Lm10 note. This banknote is coloured
red and features President A. Barbara on the front and a view
of the Grand Harbour with
a section of Malta Drydocks on the reverse. This note remains
redeemable until 13 September 2010.
The banknotes in the 5th Series
which are redeemable are the following:
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5th Series Lm2 coloured dark red and featuring on the front the
allegorical figure of Malta
on the right, the emblem
of the United Nations, doves, the armorial bearings of the Central
Bank of Malta and mosaic designs found in Roman remains, and
the Administrative buildings of the Middle Ages on the reverse.
•
5th
Series Lm5 coloured blue and featuring on the front the allegorical
figure of Malta
on the right, the emblem of the
United Nations, doves, the armorial bearings of the Central Bank
of Malta and mosaic designs found in Roman remains, and the historical
gate and towers of Mdina on the reverse.
•
5th Series Lm10 coloured green and featuring on the front the
allegorical figure of Malta
on the right, the emblem
of the United Nations, doves, the armorial bearings of the Central
Bank of Malta and mosaic designs found in Roman remains, and
a painting commemorating the 7th June 1919 riots on the reverse.
•
5th
Series Lm20 coloured orange-yellow and featuring on the front
the allegorical figure of Malta
on the right, the
emblem of the United Nations, doves, the armorial bearings of
the Central Bank of Malta and mosaic designs found in Roman remains,
and the first Prime Minister of Independent Malta displaying
the Independence Document on the reverse.
The banknotes in the
5th Series can be exchanged for euro at the Central Bank of
Malta until 31 January 2018.
Maltese decimal coins
are redeemable at
the Central Bank of Malta for two years until 1 February 2010.
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What
do I do if I suspect that a currency note or coin is counterfeit?
The obligation to withdraw from circulation currency notes and
coins believed to be counterfeit extends to any person (whether
natural or legal). Any person who is in possession of a counterfeit
note or coin is obliged to deliver it to the Central Bank of Malta.
The Bank has the right to impose an administrative penalty on any
person who is found to be in contravention of this legal obligation.
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Can I obtain any of the Central
Bank of Malta publications directly from the Bank?
The main publications of the Bank are the Quarterly
Review and
the Annual
Report. These are both available for downloading from
the Bank’s website. However, a hardcopy of any of these may
be obtained by calling at the Bank personally (subject to availability).
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If I have a complaint to make
about commercial banks or other financial services providers,
can I lodge this with the Central Bank of Malta?
The regulation and supervision of banking and financial services
falls under the responsibility of the Malta Financial Services
Authority (MFSA) and therefore any complaints about the banking
system should be lodged directly with this competent authority. |
