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Euro straight into a Maltese IBAN
Ireland and Malta are both in the eurozone and both in SEPA. The euro leaving your Grey balance is the euro credited to the Maltese account, with no conversion and therefore no exchange rate anywhere in the transfer. The fee shown before you confirm is the full cost.
It is a small corridor with a specific shape. Malta runs on gaming, aviation services, shipping and financial services, all of it in English, which is why Irish graduates and professionals turn up in Sliema and St Julian's in numbers out of proportion to the size of the place. Money tends to go that way rather than back: rent, a deposit, a share of a bill, or an Irish owner covering costs on an apartment.
You need the IBAN beginning MT and nothing else. Your recipient needs no Grey account, and the credit lands in their Maltese banking app exactly as a local payment would.
Sending to Malta in three steps
Sign up
A free Grey account opens in about five minutes, verified with a valid identity document such as a passport or an Irish driving licence.
Fund
Fund your euro balance with a SEPA payment from AIB, Bank of Ireland, Permanent TSB, An Post Money or your credit union.
Send
Enter the Maltese IBAN, the one beginning MT, check the fee and confirm. The euro goes out through SEPA.
What it costs to send euro to Malta
The saving worth having on a corridor this small is in how often you send rather than how much each one costs. Rent, a utility share and a management charge in the same week are one transfer, not three, if you wait a day and group them.
It is also worth checking how the person at the other end expects to be paid. A Maltese landlord or agency asking for a card payment is asking for a more expensive route than the IBAN they already have printed on the invoice.
Why no exchange rate applies
Both ends of this transfer are euro, so nothing converts, no rate is quoted and no second step waits in Malta. The amount you send is the amount credited, less the fee you saw first.
A rate only appears if you fund from another currency Grey holds for you, USD provided by Lead Bank or GBP. That conversion happens once, inside Grey, with the rate shown before you confirm and fixed at that moment.
Grey against a SEPA transfer from your Irish bank
AIB, Bank of Ireland and Permanent TSB all reach a Maltese IBAN, so the question is cost, visibility and what you can do around the payment. Grey shows the fee before you confirm, saves the recipient for the next month, and tracks the transfer to settlement. Many people in Ireland already use Revolut for European payments and this is not an argument about which apps you keep. What Grey adds is a euro balance alongside USD provided by Lead Bank and GBP, a virtual Mastercard, and GreyTag for free instant sends between Grey users.
What your recipient sees in Malta
A euro credit arrives in their Maltese bank account through SEPA and looks like any local payment. No Grey account is needed at that end.
Payout to the Maltese IBAN
Bank of Valletta, HSBC Malta and APS Bank all receive. You enter the IBAN beginning MT in the Grey app.
SEPA and SEPA Instant
SEPA Instant settles in under ten seconds where available. Standard SEPA transfers from a funded balance typically arrive within minutes.
GreyTag between Grey users
If the person in Malta also uses Grey, send to their tag instead. Nothing is charged, it settles in seconds, and the IBAN is not needed.
Ways to put money into your Grey account
Three routines cover almost every payment on this corridor.
Monthly, on payday
A standing euro transfer from your Irish current account, timed so the balance is ready before Maltese rent day.
One larger top up
Fund a few months at once and release each payment from the balance as it falls due.
Euro already there
Anything left on the balance sends immediately, with nothing to clear and nothing to convert.
Save the Maltese IBAN the first time. Landlords, agencies and family accounts change rarely, so one entry usually lasts the whole arrangement.
What people send from Ireland to Malta for
Rent and deposits
Irish graduates working in gaming, aviation or financial services paying a landlord or agency in Sliema, St Julian's or Valletta.
Property costs
An Irish owner covering service charges, insurance and repairs on a Maltese apartment from a distance.
Family and friends
A share of a bill, a contribution to a trip, or money to someone who moved over and has not opened everything yet.
Small business payments
Irish firms settling invoices with Maltese service providers, from compliance and legal work to software support.
A short list, because it is a small country with a concentrated set of reasons.
Why send to Malta with Grey
Malta does not need a complicated page. Two euro countries, one SEPA network, a credit that arrives looking like any other credit in a Maltese account.
Grey handles the parts around it: a balance you top up when convenient, a fee you see before committing, a saved recipient for next month, and a transfer you can follow until it settles.
FAQs
Does money sent from Ireland to Malta get converted?
No. Both countries use the euro, so the amount you send is the amount credited in Malta, less the fee.
Which Maltese banks can Grey pay into?
Bank of Valletta, HSBC Malta and APS Bank all receive euro through SEPA. You enter the IBAN beginning MT.
Can I pay rent in Sliema or St Julian's from Ireland?
Yes. Enter the landlord or agency's Maltese IBAN and send the euro from your balance. Deposits work the same way.
How quickly does euro reach a Bank of Valletta account?
SEPA Instant settles in under ten seconds where available, and standard SEPA transfers from a funded balance typically arrive within minutes.
Does my recipient in Malta need a Grey account?
No. The euro arrives in their existing Maltese bank account as an ordinary credit. Nothing is installed or collected.
Can I cover service charges on a Maltese apartment from Ireland?
Yes. Service charges, insurance and repair invoices are paid into the Maltese IBAN like any other euro payment.
How do I fund the euro balance I send to Malta from?
By SEPA transfer from AIB, Bank of Ireland, Permanent TSB, An Post Money or a credit union into your Grey account details.
Is a bank credit cheaper than paying a Maltese agency by card?
Usually, yes. A card payment carries its own costs, while the IBAN on the invoice takes an ordinary euro credit.
What if I hold sterling or dollars rather than euro?
Convert them to euro inside Grey first. USD is provided by Lead Bank, and the rate is fixed when you confirm.
What if the person in Malta also uses Grey?
Send to their GreyTag instead of the IBAN. Transfers between Grey users are free, instant and work in any supported currency.
Can I track a payment until it lands in Malta?
Yes. Transfers are encrypted and trackable from the moment you confirm until they settle in the Maltese account.
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