Want to send money to Madagascar? Are you considering a bank wire to transfer the money to Madagascar? Before you visit your financial institution to organise it, make sure you check out the wire transfer fees. It might come as a shock how much the fees and charges will be and depending on the amount of the wire, it might be better to have a look at the alternatives to forward the money another way.
What can make it more expensive is in addition to your financial institution adding a fee for sending the funds to a bank in Madagascar, the individual receiving the money transfer will most likely also be charged a fee from the bank where they have their account. A way to reduce the possibility of the fee is to send the international wire transfer in their designated currency.
To make a wire transfer to Madagascar, you may need a SWIFT code. These are unique for each financial institution and are based on references including the individual banking institution and country.
Bank wire details for Madagascar
- Country – Madagascar
- SWIFT Country Code – MG
- Central Bank Name – Banque Centrale de Madagascar
- Currency – Ariary
- Currency Code – MGA