You have three main options if you need to send money to Mauritius. These are to use a bank, a Money Sending Bureau or a foreign exchange broker.
Which one you pick will most likely depend on how much money you are sending, how often you intend on making a transfer and how much you are willing to pay to send money to Mauritius.
If you need to transfer your pension or send money to Mauritius to make payments on a property, chances are you are looking to send money to a bank account, perhaps with the Bank Baroda or Habib Bank.
In this case, using a bank in your country of residence could be a convenient way to send Mauritian rupees.
However, banks tend not to offer the most competitive exchange rates and you can also expect to pay some hidden charges on top of the exchange rate in the form of per-transfer fees.
As a result, this convenient way of moving money to Mauritius starts to look rather costly when you are making more than one transfer.
Your second option, a Money Sending Bureau, is unlikely to be any cheaper. Indeed, the per-transfer fees charged by these establishments can reach as much as 15 per cent of the total amount of money being sent.
That said, they can be a useful service if you need to send money to a recipient who cannot access a Mauritian bank account.
But the third option is probably going to offer you the best value and you won't have to sacrifice anything in convenience either since you can transfer money from your computer.
Foreign exchange brokers tend to have the most competitive Mauritian rupee exchange rates on the market due to the sheer volume of currency they handle.
This will make a real difference to the amount of money you are actually able to send, especially when you factor in the fact that RationalFX does not charge high per-transfer fees when you send money to Mauritius with us.
Why not open an online account with us today to have a look at the currency exchange rates that are on offer today?