The Central Bank of Malta reminded the public that the last date for exchanging old Maltese banknotes for Euros would be 31st January. An ID card has to be presented while exchanging the bank notes. People wanting to exchange more than Lm200 will have to present their IBAN number; money would be directly transferred to their bank account.
The fifth series banknotes became invalid after Malta adopted the euro in January 2008. Experts believe that over €36 million worth banknotes are yet to be exchanged. The 5th series of banknotes comprises of four denominations: Lm2, Lm5, Lm10, and Lm20 that were introduced into circulation in September 1989. The Lm2 note is red in colour, Lm5 note is blue, Lm10 note is green and Lm20 is brown-coloured. The common obverse of all these four banknotes features a female figure symbolizing Malta holding a rudder.