Foreign Exchange Guide to Madagascar
In this guide we review :
- Malagasy ariary info - general info about the Malagasy ariary
- Buying Malagasy ariary cash online - travel money for Madagascar
- Sending money to Madagascar - save on Malagasy ariary bank transfers to Madagascar
- Malagasy ariary exchange rates - latest info & charts.
Malagasy ariary (MGA) general currency information
Madagascar Trip Checklist
Travel money for Madagascar
Save money and time by Ordering your Malagasy ariary online from Travelex, you get better rates and can pick up the MGA cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Malagasy ariary otherwise you may get much worst exchange rates.
Sending money to Madagascar
When sending money to Madagascar it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Malagasy ariary amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted MGA amount will be transfered to the recipient account you specify in Madagascar.
By comparing the rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Malagasy ariary deposited into the recipient bank account in Madagascar and less margins and fees kept by the banks!