Compare today's MGA to NGN (Malagasy Ariary to Nigerian Naira) exchange rates
Interbank Exchange Rate: 1 MGA = 0.3091 NGN
Updated about an hour ago
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All you need to know about Malagasy Ariary to Nigerian Naira money transfers
Easily compare money transfer providers in one place to send money from Madagascar to Nigeria. Send money overseas to your loved ones by comparing Malagasy Ariary (MGA) to Nigerian Naira (NGN) 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.
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Latest MGA to NGN Conversion Rates
Here are some latest MGA to NGN (Malagasy Ariary to Nigerian Naira) exchange rates for popular conversion amounts*.
| 1 MGA | 0.31 NGN |
| 5 MGA | 1.55 NGN |
| 10 MGA | 3.09 NGN |
| 25 MGA | 7.73 NGN |
| 50 MGA | 15.46 NGN |
| 100 MGA | 30.91 NGN |
| 150 MGA | 46.36 NGN |
| 200 MGA | 61.82 NGN |
| 250 MGA | 77.27 NGN |
| 300 MGA | 92.73 NGN |
| 400 MGA | 123.64 NGN |
| 500 MGA | 154.55 NGN |
| 600 MGA | 185.46 NGN |
| 700 MGA | 216.37 NGN |
| 800 MGA | 247.28 NGN |
| 1,000 MGA | 309.10 NGN |
| 1,500 MGA | 463.65 NGN |
| 2,000 MGA | 618.20 NGN |
| 2,500 MGA | 772.75 NGN |
| 3,000 MGA | 927.30 NGN |
| 4,000 MGA | 1,236.40 NGN |
| 5,000 MGA | 1,545.50 NGN |
| 10,000 MGA | 3,091.00 NGN |
| 15,000 MGA | 4,636.50 NGN |
| 20,000 MGA | 6,182.00 NGN |
| 30,000 MGA | 9,273.00 NGN |
| 40,000 MGA | 12,364.00 NGN |
| 50,000 MGA | 15,455.00 NGN |
| 100,000 MGA | 30,910.00 NGN |
*Based on the Interbank Exchange Rate. Actual payout may vary based on the chosen money transfer provider.
What's the best way to send money from Madagascar to Nigeria?
There are many good choices when it comes to sending money from Madagascar to Nigeria. The RemitFinder remittance comparison engine compares many different remittance service providers to give you several options. You can easily compare these providers to get the best remit rates on your Malagasy Ariary to NGN money transfers.We compare different remittance companies to bring you the best options to send money to Nigeria from Madagascar. All these companies are vetted by our team that has expertise in evaluating foreign exchange providers. Our trusted partners work hard to bring our customers the best rates so you benefit the most.
Additionally, we bring you access to exclusive deals and promotions from our partners. These offers will help you maximize the yield on your Malagasy Ariary to Nigerian Naira money transfers. You can take advantage of these deals and make the most of your hard earned money.
How to get the best exchange rate for your money transfers from Madagascar to Nigeria?
When sending money overseas, there are a lot of options at your disposal these days. All of them come with various caveats that may include exchange rates, fees, transaction processing time, security and privacy, and so on. RemitFinder helps you to decide which foreign exchange operator to pick for your MGA to Nigerian Naira money transfer.Our real time remittance comparison engine compares numerous banks, FX providers, remittance companies, multi currency bank accounts, etc. and presents you with the best options for sending money from Madagascar to Nigeria. We carefully select providers to give you the best choices for sending money internationally.
Additionally, you can sign up for the free rate alert to always stay updated with the best rates and promotions for MGA to NGN remittances. With our daily free rate alert, you will never have to manually search and compare providers again.
What's the cheapest way to send money from Madagascar to Nigeria?
When you want to send money to Nigeria from Madagascar, you obviously want the cheapest possible option to maximize the money your recipient gets in Nigerian Naira. Transaction speed, security and privacy concerns notwithstanding, your biggest lever to make the most of your hard earned money is relying on the cheapest ways to do your MGA to NGN money transfers.Some of the traditional ways to send money may not be the cheapest options available. For example, a particular company may seem like a convenient way to do international funds transfers from Madagascar to Nigeria. But it is entirely possible that you may end up paying high fees as well as get sub optimal exchange rate on your foreign currency transaction.
That is why it is very useful to rely on the RemitFinder remittance comparison platform to see what are the cheapest money transfer options for getting the best Madagascar to Nigeria exchange rate. You also get access to many promotions and discounts from our partners; these offers help to reduce your cost and may be a major differentiator in helping you choose the most cost effective way to send Nigerian Naira overseas.
How to send money from Madagascar to Nigeria through a bank?
We do not recommend using your local bank in Madagascar for your next MGA to NGN overseas funds transfer. The reason for this is that banks are known to give you worse exchange rates and yet charge high foreign exchange fees. That is a double whammy that will make the transaction much more expensive for you.That said, there may be circumstances you may want to consider your bank for your international funds transfer. For example, if you need to move a very large sum of money from Madagascar to Nigeria (for property purchase, or any such high value transaction), and do not want smaller transactions. In such cases, be sure to carefully inspect all details of the remittance transaction that your bank offers you. You can use the RemitFinder remittance search engine to compare your bank's quote with many other money transfer companies to try to negotiate a better deal with your bank.
Notwithstanding any unique circumstances as above, you will generally save more by relying on online foreign exchange companies for sending NGN to Nigeria. These companies will let you use your local bank account in Madagascar to pay for your Nigeria money transfer, but will likely save you a lot of money by affording better rates and citing lower foreign exchange transaction fees.
How to send money to Nigeria from Madagascar fast?
If you need to convert MGA to NGN as fast as possible, there are definite steps you can take that will help you do so. You could pay for your transfer with cash, as well as have your recipient do a cash pickup for payout - both of these methods will speed up your money transfer.That said, handling cash could be a safety issue given that both the sender and receiver have to physically carry cash (most agent locations are located in physical stores, malls, and retail outlets which may or may not be in a physically safer area). Additionally, due to the extra costs involved to set up and maintain physical locations, cash transactions tend to get a worse foresign exchange rate (contrasted with online/digital transfers). So, another option to move money quickly from Madagascar to Nigeria could be sending it to a mobile wallet. This would entail some slowness compared to cash transfers, but would be more safe.
Apart from the above, there are many other factors that can have an impact on your Malagasy Ariary to Nigerian Naira funds transfer speed. To arm you with all the knowledge you need to distinguish faster from slower remittance providers, we crafted a complete guide to remittances; this article touches upon everything you need to know to make the fastest money transfers to Nigeria.
With so many choices available, make sure to compare various forex operators that enable you to remit money from Madagascar to Nigeria. Once you understand their services and the factors that affect how fast your money can be transferred overseas, you will be able to minimize the time your money is in transit.
Which are the best money transfer companies to send money from Madagascar to Nigeria?
Since the Malagasy Ariary to Nigerian Naira money transfer ecosystem has so many players in it, selecting the right company might not be that simple. You have so many to choose from - established organizations like Western Union and MoneyGram to multi currency bank accounts to up and coming Fintech companies. Then, there is always your local bank in Madagascar that may also be able to send money to Nigeria. With all these possibilities staring at you, it can be difficult to pick the company to give your business to.The RemitFinder remittance engine will certainly help you to chart a path forward. Once you have selected your source and destination countries, we compare numerous companies to present you with an easy to digest comparison table. Here, you can easily see which companies meet your unique needs.
To further decrease the cost of your MGA to NGN money transfers, we also source exclusive coupons and promotions from various remittance providers. This will increase the final amount your recipient in Nigeria gets, so make sure to factor in deals as a part of your decision making process to select the best provider for your next Madagascar to Nigeria transaction.
Step by step guide to do a money transfer from Madagascar to Nigeria
Sending money internationally is very common these days, especially given the large communities of expats living abroad. If you are one of them, and need to send money from Madagascar to Nigeria, then please continue to read.One of the hardest things in the foreign currency transaction world is to find the best company to move your money abroad. There are so many choices to remit funds from Madagascar to Nigeria that you may feel a bit lost. This is where RemitFinder comes in. You can relax as we do all the hard work to search and compare numerous money transfer companies for you.
Once you identify your provider of choice, follow the below step by step guide to send money.
- Provide your name, address, photo ID and other related information as part of the signup process. Forex companies are regulated to ensure that your money is safe, so providing this information ensures compliance laws are adhered to.
- Provide information about the receiver - name, address and a bank account in Nigeria where they can receive monies in Nigerian Naira.
- Then, provide details of your Madagascar bank account so you can transfer the funds to the provider to allow them to do the transaction on your behalf.
- Finally, select the amount you want to transfer, and click Send.
- The provider will start your transaction, and keep you updated on the progress of your transfer.