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Compare today's MGA to EUR (Malagasy Ariary to Euro) exchange rates

Madagascar
Portugal
MGA

Interbank Exchange Rate: 1 MGA = 0.0003 EUR
Updated about an hour ago

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All you need to know about Malagasy Ariary to Euro money transfers

Easily compare money transfer providers in one place to send money from Madagascar to Portugal. Send money overseas to your loved ones by comparing Malagasy Ariary (MGA) to Euro (EUR) 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 Portugal 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 EUR Conversion Rates

Here are some latest MGA to EUR (Malagasy Ariary to Euro) exchange rates for popular conversion amounts*.

1 MGA0.00 EUR
5 MGA0.00 EUR
10 MGA0.00 EUR
25 MGA0.01 EUR
50 MGA0.02 EUR
100 MGA0.03 EUR
150 MGA0.05 EUR
200 MGA0.06 EUR
250 MGA0.08 EUR
300 MGA0.09 EUR
400 MGA0.12 EUR
500 MGA0.15 EUR
600 MGA0.18 EUR
700 MGA0.21 EUR
800 MGA0.24 EUR
1,000 MGA0.30 EUR
1,500 MGA0.45 EUR
2,000 MGA0.60 EUR
2,500 MGA0.75 EUR
3,000 MGA0.90 EUR
4,000 MGA1.20 EUR
5,000 MGA1.50 EUR
10,000 MGA3.00 EUR
15,000 MGA4.50 EUR
20,000 MGA6.00 EUR
30,000 MGA9.00 EUR
40,000 MGA12.00 EUR
50,000 MGA15.00 EUR
100,000 MGA30.00 EUR

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


What's the best way to do Madagascar to Portugal money transfers?

There are many good choices when it comes to sending money from Madagascar to Portugal. 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 EUR money transfers.

We compare different remittance companies to bring you the best options to send money to Portugal 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 Euro 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 Portugal?

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 Portugal.

The RemitFinder comparison platform compares several forex service providers so you can get the maximum return on your Madagascar to Portugal 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 MGA to Euro 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 to send money to Portugal from Madagascar?

One of the most important things to watch out for is hidden fees when sending money to Portugal from Madagascar. Most of the time, you will get ripped off if you have no choice, or very few choices. For instance, if you send money to Portugal using your bank, you are most likely paying high fees. You may also not be getting the best exchange rate on your Euro foreign exchange transaction.

RemitFinder partners with many money transfer companies that provide you with cheap options to ensure you get the best MGA to Portugal exchange rate. The more choices you have, the better yield you get. This is because you can get creative with exchange rates and fees to determine the cheapest option for you. For instance, one company may be giving a very high rate but charging a steep fee as well, while another provider may have a slightly lower rate, but 0 fee. All of this also depends on how much amount you send. It is very much possible that as the transaction amount varies, one money transfer operator gives a better return than the other, and vice versa.

Our partners also provide our customers with many offers and promotions. These could be seasonal (around key holidays and festivals) or ongoing. Making use of these deals will further reduce your cost, and help ensure you use the cheapest way to send money to Portugal from Madagascar.


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

Bank transfers have been a traditionally popular way to send money overseas from Madagascar to Portugal. But, with the explosion of so many Fintech startups specializing in remittances, it is worth asking yourself if you should still be using your bank for sending funds internationally.

In general, banks tend to charge much higher fees compared to newer remittance companies that specialize in online operations. It is also possible that the MGA to EUR exchange rate you get from your bank may not be the best. In fact, high fees and below par exchange rates are two of the most popular ways banks make money on remittances.

We, therefore, recommend that before you use your Madagascar bank for your Portugal money transfers, you explore various other options to carefully review your total cost (represented by transaction fees) as well as the exchange rate you will get. Combined, these two factors will have a direct impact on how much money your recipient gets from your transaction.


How to send money from Madagascar to Portugal fast?

The speed of your Malagasy Ariary to Euro funds transfer will depend on various factors like which provider you use, how you pay for your transaction, how you choose for your recipient to get the funds, etc. You will, therefore, want to compare various options to see which one suits your needs best.

We created a comprehensive guide on remittances to help you understand all the factors that come into play when you convert MGA to EUR. Establishing a solid understanding of all the criteria that affect your transaction speed will help you compare various money transfer companies to see which one can provide you with the fastest transaction.

One possible approach that will help you send money fast to Portugal from Madagascar is to rely on cash as payment as well as delivery method. This would mean paying for your transfer with cash, most likely by walking into your provider's office or agent location. Similarly, your recipient could also pick up cash in Portugal if they have a pickup location nearby. Dealing with cash on both sides will eliminate bank transfers in the middle which generally take longer as money has to move between banks.

One drawback of cash transfers is the need to go to physical drop off and pickup locations, and the inherent risk involved in carrying cash, especially for larger amounts. Another one is that cash transfers generally involve lower exchange rates as compared to online transfers. If you do not want to handle cash for the aforementioned reasons, the next fastest transfers would be to payout EUR into a mobile wallet, or even do a mobile airtime popup. These methods would be faster than Madagascar bank to Portugal bank transfer.


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

Comparing money transfer companies for sending money to Portugal 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 Portugal. 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 Euro 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 Euro yield on every Malagasy Ariary that you send.


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

There are many important aspects of Madagascar to Portugal 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 EUR 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 Portugal to validate that they get the money once the transaction clears.