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Compare today's XOF to MGA (CFA Franc BCEAO to Malagasy Ariary) exchange rates

Benin
Madagascar
XOF

Interbank Exchange Rate: 1 XOF = 7.9624 MGA
Updated about an hour ago

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All you need to know about CFA Franc BCEAO to Malagasy Ariary money transfers

Easily compare money transfer providers in one place to send money from Benin to Madagascar. Send money overseas to your loved ones by comparing CFA Franc BCEAO (XOF) to Malagasy Ariary (MGA) remittance exchange rates. Read remittance service provider reviews and check out deals, promotions and discounts. Transfer online or send cash based on services offered by these providers.

Looking for a different option? You can browse all sending countries on our send money from hub, or view all destinations available when sending money from Benin.

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If you need to send international business money transfers and payments, get in touch with us to see how we can help protect your revenue.

Did not find the providers you were looking for? Please reach out to us at info@remitfinder.com, and we will do our best to add them to our platform.


Latest XOF to MGA Conversion Rates

Here are some latest XOF to MGA (CFA Franc BCEAO to Malagasy Ariary) exchange rates for popular conversion amounts*.

1 XOF7.96 MGA
5 XOF39.81 MGA
10 XOF79.62 MGA
25 XOF199.06 MGA
50 XOF398.12 MGA
100 XOF796.24 MGA
150 XOF1,194.36 MGA
200 XOF1,592.48 MGA
250 XOF1,990.60 MGA
300 XOF2,388.72 MGA
400 XOF3,184.96 MGA
500 XOF3,981.20 MGA
600 XOF4,777.44 MGA
700 XOF5,573.68 MGA
800 XOF6,369.92 MGA
1,000 XOF7,962.40 MGA
1,500 XOF11,943.60 MGA
2,000 XOF15,924.80 MGA
2,500 XOF19,906.00 MGA
3,000 XOF23,887.20 MGA
4,000 XOF31,849.60 MGA
5,000 XOF39,812.00 MGA
10,000 XOF79,624.00 MGA
15,000 XOF119,436.00 MGA
20,000 XOF159,248.00 MGA
30,000 XOF238,872.00 MGA
40,000 XOF318,496.00 MGA
50,000 XOF398,120.00 MGA
100,000 XOF796,240.00 MGA

*Based on the Interbank Exchange Rate. Actual payout may vary based on the chosen money transfer provider.


What's the best way to transfer money from Benin to Madagascar?

Foreign exchange rates fluctuate by the second, much like equities listed on the stock market. Given that, it might seem like a daunting task to determine the best timing to transfer money from Benin to Madagascar. We ensure that you are getting the best rate and sending money at the right time with trusted money transfer companies when you transfer CFA Franc BCEAO to MGA.

You can rely on RemitFinder to do the hard work of searching for the best companies specializing in sending money abroad for you. Our remittance comparison platform helps you spot the best options to send XOF to MGA in Madagascar. Every company listed on our site is an established business that our team evaluates to make sure you get access to the best exchange rates.

With RemitFinder, you can also take advantage of numerous offers and discounts that our partners provide to maximize the power of your money transfers to Madagascar from Benin. We provide you with maximum choices to send money to Madagascar by comparing competing money transfer companies thereby making you the winner in the end.


How to get the best exchange rate for sending money from Benin to Madagascar?

One of the key factors in getting the best rate for your next money transfer is awareness of what your choices are. With so many remittance service providers out there, you would want to choose the one that suits your needs best for sending money to Madagascar.

The RemitFinder comparison platform compares several forex service providers so you can get the maximum return on your Benin to Madagascar transfer. Simply search for your countries and inspect various options in one place. This will allow you to decide which company is the most appropriate one for you.

You may also want to sign up for our free exchange rate alert for your XOF to Malagasy Ariary money transfers. This way, you can get notified of the best rates on a daily basis, and send money when rates are higher.


What's the cheapest way for transferring money to Madagascar from Benin?

The final amount your recipient gets when you send XOF to MGA is the most important number that matters. In other words, you should try to minimize the impact of fees and other hidden charges (bad exchange rate is one of them) to achieve the most cost effective cross border remittance.

Before the dawn of the modern internet era, traditional methods to send money from Benin to Madagascar used to be banks, and small, local remittance players located in retail outlets and convenience stores. Unfortunately, all these options entail high fees and often provide low exchange rates - this results in an expensive money transfer whereby a big chunk of your hard earned money does not reach your recipient.

A great way to find the cheapest options to send Malagasy Ariary is by comparing numerous foreign exchange operators and service providers on RemitFinder. By eliminating the process of manually searching and comparing various companies, you can easily compare all your options in one place, thereby saving time and money. This way, you can get the best CFA Franc BCEAO to Madagascar exchange rate. Further savings can be realized by utilizing many exclusive offers and promotions from our partners. These deals can help lower the cost of a money transfer even more, thereby giving you a higher return.


Should I use my bank to transfer money from Benin to Madagascar?

One of the first thoughts that may come to your mind when sending money overseas could be to rely on your bank to execute your Benin to Madagascar money transfer transaction. While there is convenience involved in using your bank (after all, you have an account with your bank already, and could even initiate the transfer from the comfort of your home using mobile banking), it is advisable to compare some other options as well.

With the increased penetration of the internet into our lives, a lot of financial transactions have also moved online. For example, we pay our bills, buy all types of commodities, book our vacation, and enjoy all types of entertainment over the internet. It is, therefore, no surprise that the global remittance ecosystem also has a significant digital footprint. Especially for a popular market like XOF to MGA transfers.

Given this, there are umpteen additional options to send money to Madagascar instead of just your Benin bank. It is very likely that many money transfer companies are offering better exchange rates compared to your bank, as well as potentially lower fees. If that is the case, you could maximize the value of your CFA Franc BCEAO even more so that your recipient in Madagascar gets the maximum amount.


What is the fastest way to do a money transfer to Madagascar from Benin?

The first thing to do when you need to convert XOF to MGA quickly is to compare various banks, foreign exchange companies and remittance service providers to see which ones can meet your transaction timing requirements. Once you identify the right provider, it's easy to do the actual transaction.

The harder part might be how to identify which providers can execute fast funds transfers between CFA Franc BCEAO and Malagasy Ariary. While every company may have variations in how fast they will finish your money transfer, there are some general guidelines that may help you identify the fastest provider. For example, how you fund your transfer will have a direct impact on transaction speed. Similarly, if your recipient has to pick up cash from a far away location, or there are bank holidays going on, it may take longer for your funds to arrive.

To help demystify the unknowns in the end to end Benin to Madagascar remittance process, you can study this detailed guide to money transfers. Awareness of all the intricacies of overseas funds transfers will help you make the right decisions to realize the fastest possible choices to send money to Madagascar.


Which are the best money transfer companies to transfer money to Madagascar from Benin?

The definition of "best" is very personal for everyone. It may even vary from one transaction to the next depending on various factors involved. When it comes to sending money from Benin to Madagascar, we can help you in choosing the best provider.

There are several key points you would want to check for; these include, but are not limited to, the best CFA Franc BCEAO to Malagasy Ariary exchange rate, transfer amount limits, transaction fees, transfer speed, variety of payment and delivery methods available, fixed vs indicative rate, and availability of any deals and promotions.

After you see the initial list of remittance companies we present you with, use the above criteria to fine tune your choices. That way, you can see which providers are a better fit for the requirements of your MGA money transfers to Madagascar. Keep an open mind as it is very much possible that different providers suit different transfer scenarios better than others.

Finally, you should definitely take into account any ongoing promotions from these providers. Offers and discounts will lower your cost to make the money transfer and result in your recipient in Madagascar getting more money for every CFA Franc BCEAO you send.


Step by step guide to do a money transfer from Benin to Madagascar

There are many important aspects of Benin to Madagascar remittances that will impact the yield you get. The most important one is the selection of the best money transfer company. For this, you can rely on RemitFinder's expertise in searching and comparing many global companies to present you many options in one simple, easy to understand view.

Once you have honed down on the company you want to go with, the below step by step tutorial will help you execute your transfer in an effective manner.

  • Step 1 - Create your account with the chosen remittance company. Please be aware that you will likely be asked for identification documents and personal information. This is an important step for the company to ensure that you are a genuine person and ensure you comply with various legal regulations like anti money laundering.
  • Step 2 - Provision the manner in which you will fund your remittance transaction. The forex company may accept payment in multiple ways - Benin bank account, credit and debit cards, and sometimes even cash that you can pay with by walking into a branch or outlet.
  • Step 3 - Similar to the previous step, also provision the manner in which the receiver will access the funds. The most common delivery methods include MGA bank deposit, cash pick up in a physical provider location or agent's office, mobile wallet credit and mobile airtime popup.
  • Step 4 - Provision recipient details including name and address.
  • Step 5 - Decide how much CFA Franc BCEAO amount you want to send from Benin.
  • Step 6 - Optionally, check if there are any deals or promotions going on. You can rely on RemitFinder to provide you this information. Discounts help you save even more, so be sure to use one if available.
  • Step 7 - Validate all the information for accuracy and start your transaction.

From this point on, the remittance company will keep you posted on the progress of your transaction. Be sure to check with your recipient in Madagascar to validate that they get the money once the transaction clears.