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Compare today's VEF to MGA (Venezuelan Bolivar to Malagasy Ariary) exchange rates

Venezuela
Madagascar
VEF

Interbank Exchange Rate: 1 VEF = 0.0001 MGA
Updated over 24 hours ago

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All you need to know about Venezuelan Bolivar to Malagasy Ariary money transfers

Easily compare money transfer providers in one place to send money from Venezuela to Madagascar. Send money overseas to your loved ones by comparing Venezuelan Bolivar (VEF) 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 Venezuela.

Were you looking to send money from Madagascar to Venezuela 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 VEF to MGA Conversion Rates

Here are some latest VEF to MGA (Venezuelan Bolivar to Malagasy Ariary) exchange rates for popular conversion amounts*.

1 VEF0.00 MGA
5 VEF0.00 MGA
10 VEF0.00 MGA
25 VEF0.00 MGA
50 VEF0.01 MGA
100 VEF0.01 MGA
150 VEF0.02 MGA
200 VEF0.02 MGA
250 VEF0.03 MGA
300 VEF0.03 MGA
400 VEF0.04 MGA
500 VEF0.05 MGA
600 VEF0.06 MGA
700 VEF0.07 MGA
800 VEF0.08 MGA
1,000 VEF0.10 MGA
1,500 VEF0.15 MGA
2,000 VEF0.20 MGA
2,500 VEF0.25 MGA
3,000 VEF0.30 MGA
4,000 VEF0.40 MGA
5,000 VEF0.50 MGA
10,000 VEF1.00 MGA
15,000 VEF1.50 MGA
20,000 VEF2.00 MGA
30,000 VEF3.00 MGA
40,000 VEF4.00 MGA
50,000 VEF5.00 MGA
100,000 VEF10.00 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 Venezuela to Madagascar?

There are many good choices when it comes to sending money from Venezuela to Madagascar. 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 Venezuelan Bolivar to MGA money transfers.

We compare different remittance companies to bring you the best options to send money to Madagascar from Venezuela. 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 Venezuelan Bolivar to Malagasy Ariary money transfers. You can take advantage of these deals and make the most of your hard earned money.


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

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 Madagascar from Venezuela.

At RemitFinder, we have tried to solve this exact problem - how to give you access to good choices for your VEF to Malagasy Ariary 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 VEF to MGA 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 transfer money from Venezuela to Madagascar?

One of the most important things to watch out for is hidden fees when sending money to Madagascar from Venezuela. 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 Madagascar using your bank, you are most likely paying high fees. You may also not be getting the best exchange rate on your Malagasy Ariary foreign exchange transaction.

RemitFinder partners with many money transfer companies that provide you with cheap options to ensure you get the best VEF to Madagascar 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 Madagascar from Venezuela.


How to send money to Madagascar from Venezuela through a bank?

Bank transfers have been a traditionally popular way to send money overseas from Venezuela to Madagascar. 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 VEF to MGA 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 Venezuela bank for your Madagascar 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 to Madagascar from Venezuela fast?

It could be a stressful experience if you need to rush money quickly from Venezuela to Madagascar. How do you decide which option to pick to ensure your funds arrive at the destination in the fastest possible way?

First, you should ensure that you are picking the right payment method to convert VEF to MGA. Most remittance companies will allow you to pay by cash, with credit or debit cards, via a direct bank transfer, through a wire transfer, and so on. Digital payment methods like wire transfers and bank transfers will certainly delay your transaction as compared to cash payments.

Similarly, on the receiving side, your recipient also has multiple options to collect their monies in Malagasy Ariary. The payout choices generally include cash pickup, direct bank transfer, loading up a mobile wallet, and mobile airtime top up. If transaction speed is important, you could choose cash pickup if the receiver can access a close by pickup location. Just be aware that the exchange rate on cash transactions may not be the best, and there is risk in handling cash, especially for larger amounts. Otherwise, a mobile airtime top up or a bank deposit may be the next fastest possible ways unless there are bank holidays going on.

Foreign exchange transaction speed also depends on some additional factors like transfer amount, compliance and regulatory processes and vary from provider to provider. Check out our remittance guide to answer any questions you may have on how remittances work in general, and what factors affect the speed of your Venezuela to Madagascar money transfers.


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

Comparing money transfer companies for sending money to Madagascar from Venezuela 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 Madagascar. 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 Venezuelan Bolivar to Malagasy Ariary 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 Malagasy Ariary yield on every Venezuelan Bolivar that you send.


Step by step guide to send money to Madagascar from Venezuela

There are many important aspects of Venezuela 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 - Venezuela 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 Venezuelan Bolivar amount you want to send from Venezuela.
  • 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.