Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Send money to the Maldives

Wondering how to send money to the Maldives from the US? Here’s the information you need.

Although you may have limited options when it comes to transferring money to the Maldives, you don’t always have to rely on the first thing you find. Our guide will help you navigate the process of sending money to a recipient overseas, including how much it might cost to convert your US dollars to Maldivian rufiyaas.

Send money to Maldives with WorldRemit

WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.

  • No minimum transfers.
  • Wide range of destinations.
  • Competitive exchange rate.
Promoted

Compare international money transfers to the Maldives

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
Dunbridge Financial
Dunbridge Financial
24 hours
$0

View details
Dunbridge Financial offers competitive exchange rates and zero fees on transfers to more than 120 countries.
XE
Within minutes
$3

View details
XE has fast transfers with low fees and a range of foreign currency tools.
WorldRemit
Within an hour
From $1.99

View details
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
loading

Compare up to 4 providers

Best ways to send money to the Maldives

Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to the Maldives. Some offer cash pickup in as little as a few minutes, while others transfer to bank accounts.

1. Digital money transfer services

Companies like XE and PayPal specialize in foreign currencies, making them some of the most cost-effective ways to send money to the Maldives. Most offer transfers directly to your recipient's bank account in the Maldives, often in as little as a day or two.
  • Why? Digital money transfer services are cheaper because they exist online and don't have as many employees or physical locations.

2. Cash transfers

Services like WorldRemit and Western Union allow you to transfer cash for pickup at a local branch in the Maldives— often in 15 minutes. While it's a fast way to send money, you'll pay for the convenience in weak exchange rates and high fees.
  • Why? Picking up cash is more expensive because more people are involved.

3. Banks

The Maldivian rufiyaa may be offered by your bank, but beware of high fees and wide margins on the exchange rate. Compare bank transfers to digital services and other options before sending a wire transfer to the Maldives.
  • Why? Banks offer money transfers as a secondary service so don't strive to offer competitive prices.

Let's crunch the numbers: Sending $1,000 to the Maldives

Let's say you need to send $1,000 to family in the Maldives. Here's what you might face as far as fees and exchange rates using today's rate of 1 USD = 0.000 MVR.
Digital money transfer service Cash transfer Bank transfer
Fee $0 $4 $25 + additional correspondent bank fees
Exchange rate 1 USD = 0.000 MVR 1 USD = 0.000 MVR 1 USD = 0.000 MVR
Transfer speed 1-2 days Minutes 2-5 days
Amount received MVR$0 MVR$0 MVR$0
Verdict
  • Better than the bank
  • Fastest and best value
  • Slowest and most expensive

The bank option ends up being the slowest and gets the smallest amount of money to your recipient in the Maldives. A cash transfer sends the most, which is MVR$0 more than the bank. For speed, a cash transfer can typically have your transfer to the Maldives in as little as 15 minutes. Make sure there's a cash pickup location near your recipient before sending.

How to send money to the Maldives online

Sign up and send money to the Maldives with a digital money transfer specialist in four steps:

  1. Sign up for a free account. Compare and pick a provider before signing up for a free online account using your contact information, proof of ID and preferred payment method.
  2. Provide transfer details. Submit your recipient's contact information and pick a delivery method. If transferring to a bank, you'll need their bank account details in the Maldives.
  3. Confirm transfer details. Double-check your payment method, expected fees and destination.
  4. Save your receipt. Record your receipt's confirmation number to track the progress of your transfer to the Maldives. Some money transfer providers send a text or email when your transfer is complete.

Get the most out of your money transfer to the Maldives

Weigh costs and fees against convenience to best compare money transfer providers that send to the Maldives. Consider:

  • Exchange rates. The USD–MVR relationship fluctuates, so using a service that allows you to lock in exchange prices may help you save money down the line if the Maldivian rufiyaa rises against the US dollar.
  • Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger USD–MVR exchange rate.
  • Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the amount of Maldivian rufiyaas you're sending to the Maldives.
  • Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to the Maldives.
  • Sending limits. Comparing prices for one large transfer instead of many small transfers is typically easier, so picking the service you use based on how much you're sending is a valid strategy for saving money.
  • Transfer methods. Whether you want money sent to a bank account in the Maldives or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.

How to send money to the Maldives without a bank account

If you don't have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up Maldivian rufiyaas without a bank account.

Emergency cash transfer

When urgency trumps cost to get your money to the Maldives quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.

The Maldives' exchange rates explained

Banks and money transfer companies use exchange rate to calculate how much the Maldives' currency is worth when converted to USD. The USD-MVR relationship can change daily based on global economic stability, interest rates, inflation and more.

Today's exchange rate USD to MVR

1
0
Updated: 03 Aug 2021 12:54:46 UTC

What to watch out for

Sending money to relatives or family members in the Maldives may be subject to taxes on the money transfer and certain documents may be required.

Taxes on transfers to the Maldives

In general, any large transfers being sent from the US to the Maldives should be filed with the IRS to avoid any penalties.

Required information

Receiving money in the Maldives:

  • Transfer confirmation details like a transfer number, an MTCN, a reference number or a tracking number, depending on the company.
  • Government-issued ID like a passport or similar official ID may be required to pick up your transfer.
  • Sender's information. Take along your sender's full name, the sending country and their address, if known.

Sending to the Maldives from the US:

  • Proof of identification like a government-issued ID or your SSN number.
  • Recipient information like their name, address and bank account information in the Maldives.

Bottom line

Sending your hard-earned money to the Maldives shouldn't cost a fortune. Compare money transfer companies that specialize in foreign transactions for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country-specific guides the next time you need to make a transfer.

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

2 Responses

    Default Gravatar
    fayazJanuary 7, 2019

    I want to sand money to maldives as a private. which is the best way to do it? i want to sand money online and the receiver will get it by cash.

      Avatarfinder Customer Care
      nikkiangcoJanuary 8, 2019Staff

      Hi Fayaz,

      Thanks for getting in touch! The information above shows the list of providers that allow you to transfer money from US to the Maldives. The best one will depend on the cost, transfer speed, and cost to convert your US dollars to Maldivian rufiyaas. Kindly note that as a product comparison website, we are not in the position to recommend one product for you.

      Hope this clarifies and feel free to email back if you have questions.

      Best,
      Nikki

Go to site