How can I get paid from abroad in Antananarivo?

A global payment account gives you account details in currencies such as USD, EUR or GBP, so clients and marketplaces can pay you locally in their country. You then convert to MGA and withdraw.

What does it cost to convert to MGA?

Costs are the conversion margin plus any withdrawal fee to your local bank in Madagascar. Compare both, as they vary a lot between providers.

Who regulates international bank accounts & e-wallets in Antananarivo?

Providers serving customers in Madagascar fall under Banky Foiben'i Madagasikara (BFM, Central Bank of Madagascar). Banks and microfinance institutions are licensed by Banky Foiben'i Madagasikara, and payment service providers including mobile money issuers require BFM authorisation. Check BFM's list of approved establishments before holding ariary balances with a provider.

Who uses global payment accounts in Antananarivo?

Freelancers, remote workers, online sellers and small exporters in Antananarivo use them to receive foreign income without opening bank accounts abroad.

Antananarivo Digital Bank · International Bank Accounts & e-Wallets · Madagascar

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Eligibility, pricing, and availability vary by provider, residency, and regulation in Madagascar. Confirm the terms directly with each provider before opening an account.

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Local guide

International Bank Accounts & e-Wallets in Antananarivo: what to know

Global payment accounts help people in Antananarivo, Madagascar get paid by clients, marketplaces and platforms in other countries, then convert the money into MGA (Malagasy ariary). They are popular with freelancers, online sellers and remote workers in Antananarivo.

Currency in Madagascar: MGA · Malagasy ariary
Regulator in Madagascar: Banky Foiben'i Madagasikara (BFM, Central Bank of Madagascar)(opens in a new tab)
Local accounts in Madagascar: Malagasy accounts use the IBAN (MG + 2 check digits + 23 alphanumeric characters, 27 characters in total) alongside the banks' own account numbering, though much day-to-day payment addressing still relies on bank-specific formats.
Payments in Madagascar: High-value ariary settlements run through the central bank's RTGS system with the SUMA clearing arrangement handling retail interbank transfers, but most Malagasy retail payments actually travel over the three dominant mobile money platforms, MVola (Telma), Orange Money and Airtel Money, which BFM regulates and which have made phone-based transfers the de facto instant rail for most people.

Before you sign up in Antananarivo

Check which currencies you can receive, the conversion fee to MGA (Malagasy ariary), and the withdrawal fee to a local account in Madagascar.

Sources: Banky Foiben'i Madagasikara · BFM: payment systems oversight · IBAN registry: Madagascar structure

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Disclosure: Digital Bank Networks is not a bank. We are an independent comparison platform. Some of the providers on this page are our affiliate partners, and we may receive compensation when you open an account through our links. This does not affect our ratings or rankings, which are based on independent analysis. All information is provided for educational purposes only. Please review each provider's terms and conditions before opening an account.