Madagascar’s unique biodiversity, tropical beaches, and off-the-beaten-path charm make it a one-of-a-kind destination – but understanding money in Madagascar and how currency works is crucial for a smooth journey. Whether you’re exploring rainforests, paying for local guides, or shopping at street markets, knowing how to handle payments is essential. This guide explains what currency to bring, how to get money and currency in Madagascar (Malagasy Ariary – MGA), tips for cash safety, and key dos and don’ts. With this information, you’ll avoid unnecessary fees and enjoy Madagascar’s natural wonders without stress.
How to pay in Madagascar – cash or card?
In Madagascar, cash is essential for most transactions – especially for local transport, markets, and village stops. Cards and digital payments are gradually expanding in bigger towns and tourist circuits. The ariary (MGA) is the official currency.
You can use cash for:
- Public Transportation: Buses, minibuses (taxi-brousse), and local taxis are cash-only.
- Street Vendors and Markets: All markets and roadside stalls take only cash.
- Small Businesses: Local shops, cafés, and eateries prefer cash payments.
- Hostels and Guesthouses: Most budget and rural stays require cash.
- Tips and Gratuities: Cash is expected for guides, drivers, and hospitality staff.
- Rural Areas: Card acceptance is almost non-existent outside major cities.
You can use card for:
- Hotels: Larger hotels in cities like Antananarivo and Nosy Be accept cards.
- Restaurants: Some urban and tourist-oriented restaurants take Visa or Mastercard.
- Retail Stores: A few supermarkets and high-end shops accept cards in cities.
- Car Rentals and Tours: Established operators may accept cards but confirm beforehand.
- Online Bookings: International flights and select accommodations can be paid by card before travel.
What’s the best currency to take to Madagascar?
Its best to take the Malagasy Ariary (MGA) on your trip to Madagarcar as it is the official and only accepted currency in Madagascar.
US Dollars and Euros are not accepted for direct payments, even in most tourist areas. Some hotels or tour operators may quote prices in foreign currencies, but you’ll still need to pay in Ariary – often at a bad exchange rate if done on the spot.
ATMs are available in major cities like Antananarivo and Nosy Be, and they accept Visa and some Mastercard cards. But ATM access is limited in remote areas, so carry enough Ariary in cash if traveling outside the cities.
Where to get currency in Madagascar?
There are 3 main ways to get cash in Madagascar. They are:
- ATMs, or
- Currency exchange, or
- Money transfer & local pick-up
Types of cards to swipe in Madagascar
Visa and Mastercard transactions are commonly accepted for swiping. You might also find some places that accept Amex and other cards, albeit less frequently.
Types of cards at ATMs in Madagascar
If you’re withdrawing money in Madagascar from an ATM, ATMs in Madagascar commonly accept Visa and Mastercard. However, some ATMs accept only Visa and some only Mastercard so have a backup of one each at least. Others such as Plus, Cirrus, CUP, JCB, Maestro, American Express, Diners, Discover and Rupay cards are generally not accepted.
Should I exchange money before travelling to Madagascar?
It’s advisable to bring a small amount of Malagasy Ariary (MGA) or Euros or USD before traveling, especially for initial expenses like airport transport or tips. However, MGA is not widely available abroad, and exchange rates outside Madagascar tend to be unfavorable.
A better approach is to withdraw MGA from ATMs upon arrival. ATMs are widely available in Antananarivo, Nosy Be, and other major towns, and most accept Visa and Mastercard. Cirrus and Plus support may vary – check with your bank and confirm withdrawal fees.
Currency exchange is best done at banks or licensed forex bureaus, particularly in larger cities. Avoid exchanging money at airports or hotels, where rates are generally lower. USD and EUR are the easiest currencies to exchange.
Where to withdraw money in Madagascar
You can withdraw money in Madagascar at leading bank ATMs in the country. The best ATMs for foreigners to use in Madagascar are those owned by popular banks such as:
- MCB,
- AccesBanque,
- Societe Generale, and
- BMOI.
There are other banks with ATMs that also accept international debit and credit cards.
There are no known Global ATM Alliance member banks or All Points network banks in Madagascar.
For a detailed guide, read Cash and ATMs in Madagascar.
Where to exchange currency in Madagascar
You can exchange currency in Madagascar at licensed currency exchange offices and banks branches.
Currency Exchange Offices: Licensed exchange bureaus can be found in Antananarivo (Tana), especially in the Ivato International Airport, city center, and near major hotels. In tourist towns like Nosy Be, Antsirabe, and Toamasina, you’ll also find exchange offices near markets and port areas. Look for well-known operators like BNI Madagascar Forex, Western Union-affiliated exchanges (in cities)
Popular Banks Offering Currency Exchange Services are Bank of Africa Madagascar, BNI Madagascar, BFV-Société Générale. Banks typically open from 8:00 AM to 3:00 PM, Monday to Friday.
Tip: Bring EUR or USD, as they’re easiest to exchange. Avoid CFA francs or South African Rand. Be cautious of street exchangers – unofficial exchanges are illegal and carry a high risk of scams.
You can find good currency exchanges in Madagascar using the ATM Fee Saver app – it will guide you to the nearest currency exchange on the map. The app helps you with forex places in 160+ countries, including Madagascar. Download now from the App Store or Play Store.
Avoid Airport Exchanges and no-fee exchange offices: They have the highest fees and poorest exchange rates. Wait to get to the city to exchange cash.
Download ATM Fee Saver now.
Is carrying cash in Madagascar safe?
Carrying cash in Madagascar requires heightened caution, as petty crime – including pickpocketing and bag-snatching – is relatively common, particularly in cities like Antananarivo. Cash is widely used across the country, especially in rural areas, so travelers must be prepared – but also careful. To carry cash safely in Madagascar:
- Only carry what you need for the day and keep the rest securely stored.
- Split your cash between a money belt, wallet, and hidden pouch.
- Avoid displaying large bills or counting money in public.
- Be alert in busy areas like markets, taxi stands, and bus stations.
- Withdraw cash from ATMs inside banks, hotels, or shopping centers – not from stand-alone machines.
- Keep smaller denominations on hand, as many vendors and drivers can’t provide change.
Is it better to use debit or credit cards or pay by cash in Madagascar
Use a card if it is fee-free i.e. your bank does not charge any fees to swipe the card, when the merchant / POS also does not impose any extra charge to use a card, you need to use the insurance of the card, don’t want to block cash of large purchases and card’s swipe fees are lower than withdrawal fees.
Pay by cash by withdrawing cash from ATM or exchanging currency where – fees on ATM withdrawals are lesser than fees on swiping cards, you don’t want to leave any digital footprint of your expenses, it is convenient and easier to conduct transactions.
