How to send money to Madagascar
Discover how to send money to Madagascar with the best exchange rate in 4 easy steps
1. Check the MGA mid-market exchange rate against the currency you want to send
Even though the evolution of the currency market is fluctuating, it is a good idea to stay on top of it in order to optimize how much you will receive against your sending currency. Follow the evolution of the Malagasy ariary mid-market and convert your money when the MGA rate gets to a specific level.
2. Find the best deal by comparing the available providers.
Monito's comparison engine lists 6 companies to make money transfers to Madagascar, such as Western Union, MoneyGram, OFX, Xendpay, WorldRemit. Optimize your transfer by comparing all your options and go with the most competitive deal for your transfer.
3. Select the best provider for your specific needs
Do you want to send money to Madagascar with the cheapest option, as quickly as possible or with the top rated company?
It is also important to take into account the pay-in and pay-out options. Credit cards, debit cards or a bank transfer are the most often available payment methods to send money to Madagascar online. On the recipient's side in Madagascar, you often have to decide if you want the amount in MGA to be sent directly to the recipient's bank account or received in cash (from an agent location).
4. Sign up and start your transaction with the company you selected
Go to the money transfer provider's homepage to sign up - be ready to give an ID and/or a proof of adress - and set upyour money transfer to Madagascar.