QuestionsMoney-ShoppingLooking for the Most Cost-Effective Way to Transfer Money from Europe to Mauritius
indominus_rex007 asked 8 months ago

Hello everyone, I have a friend who is a Mauritian expat currently working in Belgium, and he is looking for the most efficient and cost-effective ways to transfer his savings back to his MCB account in Mauritius. It would be extremely helpful if you could share your experiences and recommendations regarding this matter, as he wants to ensure the security and affordability of the transfer. Do you know of any specific international transfer methods that have lower fees? Have you come across any platforms or services that expedite the transfer at a minimal cost? * Are there any other tips or advice you can provide to ensure a smooth and affordable money transfer? Thank you so much for your insights and advice!

vivacity297 answered 8 months ago

Paypal might be an option. But from experience i know that the fees are a little annoying. Its been a long time i didn’t use it though, maybe things changed

Middle-Commission-85 answered 8 months ago

Not sure how much money you ate talking about but standard bank transfers by swift would cost around $100 or equivalent. Else you can check Wise which has lower fees.

_AliHD_ answered 8 months ago

I have used PayPal to receive money from USA. Everything was smooth and I was able to transfer it to my MCB account. The fees were around $35 when I received $1000 plus the transfer to my account was around 500 MUR.

Suncourse answered 8 months ago

Wise. Simple

Tax would be the main concern, besides the simple transfer logisitics

yikaprio answered 8 months ago

Is Visa Direct an option? I used it a few years ago and it seemed very convenient.

Mission_Business_166 answered 8 months ago

Aren’t you supposed to pay local taxes when the money is remitted to your local account?
But you already paid taxes once in your home country.
Better get Wise and pay everything as they charge less than the MRA.

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