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 possibilty 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.
SWIFT Country Code
Central Bank Name
Banque Centrale de Madagascar