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

Togo
Madagascar
XOF

Interbank Exchange Rate: 1 XOF = 7.9712 MGA
Updated about 1 hours 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 Togo 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 Togo.

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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 XOF7.97 MGA
5 XOF39.86 MGA
10 XOF79.71 MGA
25 XOF199.28 MGA
50 XOF398.56 MGA
100 XOF797.12 MGA
150 XOF1,195.68 MGA
200 XOF1,594.24 MGA
250 XOF1,992.80 MGA
300 XOF2,391.36 MGA
400 XOF3,188.48 MGA
500 XOF3,985.60 MGA
600 XOF4,782.72 MGA
700 XOF5,579.84 MGA
800 XOF6,376.96 MGA
1,000 XOF7,971.20 MGA
1,500 XOF11,956.80 MGA
2,000 XOF15,942.40 MGA
2,500 XOF19,928.00 MGA
3,000 XOF23,913.60 MGA
4,000 XOF31,884.80 MGA
5,000 XOF39,856.00 MGA
10,000 XOF79,712.00 MGA
15,000 XOF119,568.00 MGA
20,000 XOF159,424.00 MGA
30,000 XOF239,136.00 MGA
40,000 XOF318,848.00 MGA
50,000 XOF398,560.00 MGA
100,000 XOF797,120.00 MGA

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


What's the best way to send money from Togo to Madagascar?

With the global remittance market booming, there are so many choices for CFA Franc BCEAO to MGA money transfers. To make it even more complicated, new Fintech companies keep entering the space, making it harder for remitters to decide which company to choose to send money overseas.

Our money transfer comparison engine does all the hard work for you by searching and comparing numerous companies that specialize in foreign exchange transactions, and picking the best ones for sending money to Madagascar from Togo. This way, you do not have to manually search and compare these companies which is very time consuming. All remittance companies on our platform are established, secure providers that our expert team has selected.

We also provide you with attractive deals and promotions from our partners; these offers help you further maximize the final MGA amount that your recipient gets. We, along with our partners, work hard to provide you with the best discounts and offers that you can use when you send money internationally.


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

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 Togo to Madagascar 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 XOF to Malagasy Ariary 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 CFA Franc BCEAO to Malagasy Ariary 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 Madagascar from Togo?

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 Togo 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 Togo 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 Togo 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 Togo 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.


How to send money from Togo to Madagascar fast?

The speed of your CFA Franc BCEAO to Malagasy Ariary 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 XOF to MGA. 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 Madagascar from Togo 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 Madagascar 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 MGA into a mobile wallet, or even do a mobile airtime popup. These methods would be faster than Togo bank to Madagascar bank transfer.


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

Since the CFA Franc BCEAO to Malagasy Ariary 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 Togo that may also be able to send money to Madagascar. 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 XOF to MGA money transfers, we also source exclusive coupons and promotions from various remittance providers. This will increase the final amount your recipient in Madagascar gets, so make sure to factor in deals as a part of your decision making process to select the best provider for your next Togo to Madagascar transaction.


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

There are many important aspects of Togo 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 - Togo 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 Togo.
  • 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.