Send money to Madagascar

How to send money to Madagascar

Learn how to send money to Madagascar with international money transfer companies.

Sending money has become easier over the years, but this means there are even more options to choose from when you need to make a transfer to friends or family in Madagascar. You can avoid large fees and bad exchange rates by comparing international money transfer companies. Our guide will help you learn how to find one that suits your needs.

Compare money transfer services to Madagascar

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
NZD 0 1 day NZD 0.00 2429.711 MGA
24,297,106
Send money in more than 60 currencies. Fee-free international money transfers with a global brand. Go to site Show details
NZD 0 Within an hour NZD 3.99 2417.513 MGA
24,165,487
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details
AUD 250 1 - 2 days NZD 15.00 2426.051 MGA
24,224,123
A higher exchange rate applies to non-finder customers. Send money in 45 currencies. No fee if you transfer over AUD$10,000. Go to site Show details
NZD 2,000 2 days NZD 0.00 2428.979 MGA
24,289,788
Exclusive offer: $0 transfer fee and discounted exchange rates for your first trade only.
A higher exchange rate applies to non-finder customers. Send money in more than 130 currencies.
Go to site Show details

Compare up to 4 providers


The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

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How to compare different services for sending money between Madagascar and New Zealand

  • Exchange rates. The exchange rate is fairly consistent with a few volatile movements. You could consider a forwarded contract if you see a more favorable exchange rate.
  • Pickup methods. Send money to physical agent locations for a cash pickup, mobile devices and bank accounts.
  • Fees. Companies like OFX International will offer a solid rate with a low sending fee but the delivery of the currency can take 2 days and more depending on the recipient location.
  • Bank-to-bank benefits
  • Turnaround time. A quicker turnaround usually comes at a cost. The cash pickup options as explored above usually implicate a higher sending fee and in some instances a lower rate. The turnaround time with the available companies will take anywhere between ten minutes and four days.
  • Transfer methods. The different transfer methods range from basic services like agent or phone, to online portals and mobile apps.
  • Transfer options. You can choose between spot contracts, booked rates/forwarded contracts, recurring payments and limit orders.
  • Minimum/maximum transfer amounts. For some maximum amounts, it will realize in a lower fee but will also require you to go into the branch or agent location to make the transfer.
  • Customer service. Keep in mind that sending money overseas can be a stressful task if it’s a new activity for you. Customer support can make or break whether it a good or bad experience. Many of the companies listed below have a proven track record of good customer support that makes the process enjoyable.

What options do you have when sending money to Madagascar?

  • Money transfer services. The available transfer companies to send money from New Zealand to Madagascar include OFX International, Moneygram, Western Union, and Xpress Money.
  • Banks. You can use Citibank to send money to Madagascar. It is advised to visit a branch to learn about current exchange rates and more about fees.
  • Paypal. Paypal is available in the Madagascar market but does not support the MGA currency. The EUR and NZD are accepted occasionally and can be received for currency exchange at a local exchange bureau.
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Foreign exchange rates explained

When you want to convert money from one currency to another, you need to know the exchange rate. This is the how much one country’s currency is worth when exchanged for the currency of a different country. A strong currency will yield more money when exchanged for a weak currency. Since the New Zealand dollar (NZD) has traditionally been strong against the Malagasy ariary, you can expect to receive a good rate when making an exchange.

Get live exchange rates for the MGA

Is it possible to send money to New Zealand from Madagascar?

  • Money transfer services. You can use a money transfer service with an online portal to send money to New Zealand from Madagascar.
  • Bank accounts. Citibank accepts MGA and can receive money from Madagascar.
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What steps to send money to Madagascar?

Each money transfer company has a different process, but the following steps should help you complete any forms you need to fill.

  1. Choose a money transfer provider from the table above.
  2. Click Go to Site and create an account.
  3. Supply your recipient’s information.
  4. Pay for your transfer.
  5. Save your tracking number and receipt.

Once your half of the transfer is complete, make sure your recipient receives their funds within the time frame supplied by the company. If they don’t, contact customer service to fix the problem.


Same-day cash transfer options to Madagascar

If your friend or family member needs a same-day cash transfer, you’ll be able to complete it through Moneygram, Western Union or Xpress Money. These companies provide quick services and have locations in both major cities of Madagascar, but keep in mind that their fees will be higher and you may not receive the best exchange rate.

Top tips for picking up cash in Madagascar

Try to avoid walking around with a passport. Call ahead to the agent location you will be visiting and check if you can take along a copy of your ID or passport instead of the original document when picking up your cash.

There are some recurring cases of theft and violence as well, so when going to pick up cash, make sure that you are in a safe and populated area. Keep the transaction as discreet as possible, and if you can, bring a friend with you to have an extra set of eyes while you travel to deposit your cash.

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