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

Madagascar
Burkina Faso
MGA

Interbank Exchange Rate: 1 MGA = 0.1256 XOF
Updated about 1 hours ago

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

Easily compare money transfer providers in one place to send money from Madagascar to Burkina Faso. Send money overseas to your loved ones by comparing Malagasy Ariary (MGA) to CFA Franc BCEAO (XOF) 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 Madagascar.

Were you looking to send money from Burkina Faso to Madagascar instead?

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 MGA to XOF Conversion Rates

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

1 MGA0.13 XOF
5 MGA0.63 XOF
10 MGA1.26 XOF
25 MGA3.14 XOF
50 MGA6.28 XOF
100 MGA12.56 XOF
150 MGA18.84 XOF
200 MGA25.12 XOF
250 MGA31.40 XOF
300 MGA37.68 XOF
400 MGA50.24 XOF
500 MGA62.80 XOF
600 MGA75.36 XOF
700 MGA87.92 XOF
800 MGA100.48 XOF
1,000 MGA125.60 XOF
1,500 MGA188.40 XOF
2,000 MGA251.20 XOF
2,500 MGA314.00 XOF
3,000 MGA376.80 XOF
4,000 MGA502.40 XOF
5,000 MGA628.00 XOF
10,000 MGA1,256.00 XOF
15,000 MGA1,884.00 XOF
20,000 MGA2,512.00 XOF
30,000 MGA3,768.00 XOF
40,000 MGA5,024.00 XOF
50,000 MGA6,280.00 XOF
100,000 MGA12,560.00 XOF

*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 Madagascar to Burkina Faso?

Sending money internationally to Burkina Faso from Madagascar can be a challenging task given so many companies willing to move your money overseas. You can rely on RemitFinder to choose the best provider who can offer the most value while ensuring safety and security at the same time.

Our money transfer comparison engine does a real time comparison of exchange rates from various foreign exchange providers to bring you the best choices for your Malagasy Ariary to XOF remittances.

Every company listed on our platform has been fully vetted by our team to ensure you get access to safe, secure and reliable providers to help you send money to Burkina Faso. Our partners also provide exclusive offers and discounts to our customers so they can save even more on their next money transfer. You can take advantage of these promotions so your loved ones back home get the maximum amount in CFA Franc BCEAO.


How to get the best remit rate for transferring money from Madagascar to Burkina Faso?

With ever changing remittance exchange rates, and umpteen new companies and startups to send money abroad coming up, it may seem hard at first to decide when to send money and which company to choose from for your Madagascar to Burkina Faso transfers.

RemitFinder provides a single place to compare many options so you can quickly and easily decide who to go with. Compare various banks, foreign exchange specialists, Fintech startups, remittance service providers, multi currency bank accounts and others in a single view to maximize the return on your MGA to CFA Franc BCEAO international money transfers.

To help save your precious time and hard earned money, we also created the RemitFinder exchange rate alert. This is a totally free notification that will keep you updated daily on the latest Malagasy Ariary to CFA Franc BCEAO exchange rates and ongoing deals and promotions. You can sign up for our rate alert and start saving now.


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

While there are numerous ways to send money overseas, many come with steep fees and hidden charges that will make a big dent in your hard earned money. For example, if you send money from Madagascar to Burkina Faso via a bank, you will typically get charged high wire transfer fees. Often, both the sender and the recipient have to pay high fees for bank wire transfers.

A sure way to find the most cost effective way for Malagasy Ariary to CFA Franc BCEAO remittances is to compare various foreign exchange operators out there. But, doing this manually is hard and time consuming. You may miss out on great rates from other providers that you may not even be aware of. This is especially relevant given the explosion of Fintech startups operating in the international money transfer arena.

Use RemitFinder to compare numerous remittance service providers in a single screen to easily see which companies are good at what and meet your selection criteria for getting the best Madagascar to Burkina Faso exchange rate.

Another sure shot way to reduce your cost and maximize the return on your money is to take advantage of deals and discounts our partners provide to RemitFinder users like you. We are constantly adding new providers, so make sure to regularly check in to see which money transfer options are the cheapest for MGA to XOF remittances.


Should I use my bank to send money from Madagascar to Burkina Faso?

There are two distinct ways that banks make money on international funds transfers. First, by charging steep transaction fees, and second, by providing a low MGA to XOF exchange rate. Sometimes, the actual transaction fee may not be that high, but the rate may be much lower, which essentially means a hidden fee as the cost of the transfer for you still goes up.

Since your obvious goal is to make the most of your hard earned money, you would want to ensure that the receiver of your money gets the maximum amount. One simple way to achieve this is by minimizing the fees on Madagascar to Burkina Faso money you send. And, generally, you will not get low fees with banks. Hence, we recommend relying on our real time online money transfer comparison tool to ensure you can compare many options.

Most of the remittance companies today offer bank to bank transfers for sending money to Burkina Faso from Madagascar. They do this by letting you fund your transaction through your local bank account in Madagascar, and by allowing you to choose the payout to be your recipient's bank account in Burkina Faso. But, you are likely to get much better rates and lower fees compared to your bank.


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

How fast your money arrives at its destination is one of the key factors to consider when sending funds internationally from Madagascar to Burkina Faso. This is especially relevant if you are up against time and need to send money urgently. Every once in a while, we all get into that situation, so it's good to be aware of what to do.

To help you convert MGA to XOF fast, we recommend reading up on our "all you need to know about remittances" guide. This is a comprehensive document that will help you understand so many factors that affect the speed of your money transfers, and therefore, pick the providers that can execute your transaction fastest.

If speed were the only factor to consider, and sometimes it is for emergency needs, cash transfers may be your best bet as there are no bank to bank transactions involved which will certainly introduce a lag in your Malagasy Ariary amount reaching Burkina Faso. On the flip side, carrying cash is risky. Additionally, cash transactions go with a lower exchange rate; this helps providers cover the expenses needed to maintain physical office locations needed to process cash.

Hopefully, you do not find yourself in a crisis where you have to rush CFA Franc BCEAO quickly to Burkina Faso, but in case you do, now you know how to evaluate various funds transfer operators to choose the fastest one.


Which are the best money transfer companies to send money from Madagascar to Burkina Faso?

Comparing money transfer companies for sending money to Burkina Faso from Madagascar can be challenging, especially given the number of options out there. But, if you are armed with the right knowledge, it will help you make a more informed decision and, therefore, make the most of your hard earned money.

There are various areas you would want to inspect when evaluating these providers to gauge the best fit for sending money overseas to Burkina Faso. How much do you want to send? Some companies deal with only small amounts, while others specialize in larger ones. Are you OK paying a fee for your Malagasy Ariary to CFA Franc BCEAO transfer or you will only go with 0 fees? How about exchange rates? Can you send money using non-fixed or indicative rates?

Once you start applying these conditions to the list of choices you see, you can start to eliminate companies that do not match any of your preferences. This will help fine tune the list to a small number. Finally, keep an eye on promotions and discounts as they will help maximize the CFA Franc BCEAO yield on every Malagasy Ariary that you send.


Step by step guide to transfer money to Burkina Faso from Madagascar

There are many important aspects of Madagascar to Burkina Faso 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 - Madagascar 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 XOF 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 Malagasy Ariary amount you want to send from Madagascar.
  • 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 Burkina Faso to validate that they get the money once the transaction clears.