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Compare today's MGA to TZS (Malagasy Ariary to Tanzanian Shilling) exchange rates

Madagascar
Tanzania
MGA

Interbank Exchange Rate: 1 MGA = 0.5828 TZS
Updated about an hour ago

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All you need to know about Malagasy Ariary to Tanzanian Shilling money transfers

Easily compare money transfer providers in one place to send money from Madagascar to Tanzania. Send money overseas to your loved ones by comparing Malagasy Ariary (MGA) to Tanzanian Shilling (TZS) 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.

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Latest MGA to TZS Conversion Rates

Here are some latest MGA to TZS (Malagasy Ariary to Tanzanian Shilling) exchange rates for popular conversion amounts*.

1 MGA0.58 TZS
5 MGA2.91 TZS
10 MGA5.83 TZS
25 MGA14.57 TZS
50 MGA29.14 TZS
100 MGA58.28 TZS
150 MGA87.42 TZS
200 MGA116.56 TZS
250 MGA145.70 TZS
300 MGA174.84 TZS
400 MGA233.12 TZS
500 MGA291.40 TZS
600 MGA349.68 TZS
700 MGA407.96 TZS
800 MGA466.24 TZS
1,000 MGA582.80 TZS
1,500 MGA874.20 TZS
2,000 MGA1,165.60 TZS
2,500 MGA1,457.00 TZS
3,000 MGA1,748.40 TZS
4,000 MGA2,331.20 TZS
5,000 MGA2,914.00 TZS
10,000 MGA5,828.00 TZS
15,000 MGA8,742.00 TZS
20,000 MGA11,656.00 TZS
30,000 MGA17,484.00 TZS
40,000 MGA23,312.00 TZS
50,000 MGA29,140.00 TZS
100,000 MGA58,280.00 TZS

*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 Tanzania?

It can be very confusing when sending money from Madagascar to Tanzania given so many choices. Additionally, Malagasy Ariary to TZS exchange rates fluctuate all the time. Remitfinder gives you the option to compare money transfers companies to choose the best exchange rate among this volatility while making the best deals and promotions available to you.

Choose Madagascar to Tanzania as your country combination and click search. We then compare many money transfer companies to bring you the best exchange rates to send money to Tanzania from Madagascar. In one single place, you can easily compare many providers to see which one is the best option for your next transfer.

To further help you maximize the return on your money, our partners add various promotions and discounts on our site. You can take advantage of various deals we have for Malagasy Ariary to Tanzanian Shilling remittances.


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

Just like the cryptocurrency market, the foreign exchange market is constantly fluctuating. On top of that, there are so many new service providers on the global remittance landscape. This may make it hard for remitters to find the best ways to send money to Tanzania from Madagascar.

At RemitFinder, we have tried to solve this exact problem - how to give you access to good choices for your MGA to Tanzanian Shilling remittances. We do all the hard work to search and compare numerous multi currency banks, foreign exchange services, remittance service providers, etc., to ensure you can use the best possible vehicles to send money overseas.

You can also register for our daily rate alert to stay aware of the latest exchange rates for MGA to TZS remittances. Our rate alert is totally free, and is a great way to save your previous time and make the most of your hard earned money. We do the hard work so you do not have to manually search and compare money transfer companies.


What's the cheapest way to send money from Madagascar to Tanzania?

The final amount your recipient gets when you send MGA to TZS 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 Madagascar to Tanzania 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 Tanzanian Shilling 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 Malagasy Ariary to Tanzania 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 Madagascar to Tanzania?

Big banks in Madagascar are known to make a lot of money by charging high fees on Tanzania money transfers from Madagascar. Do not get ripped off by paying exorbitant transaction fees on your next overseas funds transfer. Look out for more options so you can compare your bank's offer with others out there.

In addition to charging higher than average fees, banks are also notorious for giving you a MGA to TZS exchange rate that may not be the best compared to other options at your disposal. You can use RemitFinder to compare numerous money transfer operators with your bank's proposal so you can see what is the cheapest option to send money to Tanzania. With our live comparison tool, you can easily compare many good options in one glance.

Do not let the convenience of using your local bank prevent you from doing full due diligence on the best and cheapest ways to send money from Madagascar to Tanzania. You work hard for your money, so you should also ensure you get the maximum yield when you send TZS overseas.


What is the fastest way to transfer money from Madagascar to Tanzania?

The speed of your Malagasy Ariary to Tanzanian Shilling 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 TZS. 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 Tanzania 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 Tanzania 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 TZS into a mobile wallet, or even do a mobile airtime popup. These methods would be faster than Madagascar bank to Tanzania bank transfer.


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

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 Madagascar to Tanzania, 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 Malagasy Ariary to Tanzanian Shilling 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 TZS money transfers to Tanzania. 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 Tanzania getting more money for every Malagasy Ariary you send.


Step by step guide to transfer money to Tanzania from Madagascar

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