Malawi is one of the harder countries to send cash to. There are fewer money-transfer services available in Malawi than there are in most other international countries. There are also less ideal conditions for receiving money, relative to other countries. Regardless, sending money to Malawi is not too difficult and there are a few adequate options available to you.
The current exchange rate for the Malawian Kwacha (MWK) is 737.505413 MKW per American Dollar (USD) as of the time this was written. The MKW reached a high of 737.5240 MKD per USD and a low of 727.7762 MKW per USD during the last 90 days. The 90-day average exchange rate for the MKW was 735.6651 MKW per USD.
The average volatility rate for the MKW against the USD was 0.39% for the last 90 days. This is a moderate volatility rate, though the MKW has started fluctuating more unpredictably in recent weeks. You can reasonably expect moderate fluctuations in exchange rates to continue going forward, barring any unforeseen circumstances.
The fastest way to send cash to Malawi is through Western Union’s fast option. With Western Union’s fast option, your money should reach its Malawian destination in a matter of minutes. The service is also one of the most popular in the world, and they allow you to choose how your money will be received at the destination.
The only drawback to Western Union is that it’s quite expensive. When you compare their fast option to the competition, you are spending significantly more with Western Union.
The cheapest way to send on cash to Malawi is through XE. Like OFX, XE is a currency conversion service which also transfers money abroad. With XE, you can expect the lowest currency conversion fees on the market.
Sending cash to Malawi can be easy, using Xoom. Xoom can transfer your money, often very quickly, with one of several options for yourself and the recipient. When it comes to everything else, Xoom offers a somewhat well-rounded deal for sending money to Malawi.
The overall best way to send cash to Malawi is through XE. With XE, you can be sure that you are always getting the most out of your money. Their rates are very good, and they charge zero in fees for bank transfers. Once you’ve set up your account, sending money to Malawi is easy and cheap with XE.
Jonathan is the founder and editor of MoneyTransfers.com. Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of MoneyTransfers.com