Bank card or cash for Nosy Be?

I'm heading to Nosy Be (Madagascar) this coming October. This is my very first visit to this part of the Indian Ocean. I'd like to know if it's better to bring my bank card and withdraw cash from ATMs there, or if it would be preferable to bring cash in euros or dollars and exchange it for the local currency upon arrival. Thanks! /D

Hi there, In Madagascar, euros and debit/credit cards are preferred, but watch out for bank fees—always withdraw large amounts! All cities in Madagascar have ATMs, and it's possible at some banks to withdraw with a debit/credit card at a temporary counter, equivalent to 1000 € with a debit/credit card.

Thanks! It’s Nosy Be I’ll be heading to! /d

In Nosy Bé, no problem at all—it's very touristy, full of foreigners, and there are plenty of ATMs in the banks. It's the most visited region by tourists.

Hi there, We did a mix of both. Visa debit card for a few withdrawals and some payments at supermarkets, certain activities, and hotels, and cash for the rest (not that much in the end). As astaffort said, it’s the most touristy area in Madagascar, so it’s not too complicated.

I’ve heard that the Malagasy bank BMOI doesn’t charge any extra fees? Any feedback on this bank?

No idea, sorry.

Honestly, when we took out money with the card, we found the exchange rate reasonable and it didn’t cost us too much in fees.

In terms of exchange rates, MCB also offers a good rate. Plus, the fees are reasonable.

Just a year ago it was Société Générale, but they’ve left Madagascar for the past 7 months, so I can’t say—ask at the counter.

Hey! /Dard

Hi there, no problem withdrawing cash from ATMs in Nosy Bé. Personally, to avoid fees and get a good exchange rate, I opened an account with the online bank Sumeria (formerly Lydia). There are others specialized for travelers like Revolut, for example. You should compare them. I did this for my round-the-world trip in 2023, and I was able to withdraw local currency with my Visa card at lower fees all over the world. I’ve kept it since and continue to use it when I travel, including in Nosy Bé last March. Best regards

Thanks! /D