The Euro is the only legal tender currency in Malta and Gozo. Credit Cards and other means of payment are normally accepted in many retail stores; however it is advisable that you use cash as your main payment method as many small retail outlets, bars and shops simply not make use of credit cards.
Exchange bureaux are available in Victoria (office hours), or from the Airport on a 24/7 basis. Foreign currency is easily exchanged. Banks and ATMs can be found scattered across the island and offer a fully fledged financial service. As per EU legislation, one needs to declare any amount of money which exceeds 10,000 euro.