Foreign Exchange Guide to Malawi
In this guide we review :
- Malawian kwacha info - general info about the Malawian kwacha
- Buying Malawian kwacha cash online - travel money for Malawi
- Sending money to Malawi - save on Malawian kwacha bank transfers to Malawi
- Malawian kwacha exchange rates - latest info & charts.
Malawian kwacha (MWK) general currency information
Malawi Trip Checklist
Travel money for Malawi
Save money and time by Ordering your Malawian kwacha online from Travelex, you get better rates and can pick up the MWK 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 Malawian kwacha otherwise you may get much worst exchange rates.
Sending money to Malawi
When sending money to Malawi 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 Malawian kwacha 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 MWK amount will be transfered to the recipient account you specify in Malawi.
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 Malawian kwacha deposited into the recipient bank account in Malawi and less margins and fees kept by the banks!