How to send money to Malawi
Find out how to transfer money to Malawi at the lowest cost in a few easy steps
1. Check the MWK exchange rate against your sending currency
Sending money at the right moment is a good way to optimize your transfer. Monitor the exchange rate and convert your money when the MWK rate gets to a specific level.
2. Compare 8 money transfer providers available to send money to Malawi in order to find the best provider.
Monito lists 8 providers offering money transfer services to Malawi, such as TransferWise, Western Union, MoneyGram, Xendpay, WorldRemit. Picking the most competitive provider from the available options is the best way to save on costs.
3. Pick the best provider with your own criteria
What is the most important for you? The total cost, time for the money to arrive, customer ratings? Consider the pros and cons before making your choice.
It is also interesting to pay attention to the pay-in and pay-out options. You often have the choice to pay by transferring the money from your bank account or by debit or credit cards. At the other end, in Malawi, look at different options if you need the converted amount to be sent directly to the recipient's bank account or received in cash (from an agent location).
4. Sign up and start your money transfer with the money transfer provider of your choice
Go to the money transfer provider's website to register (you most of the time have to give some documents to confirm your identity), and set upyour money transfer to Malawi.