BMOIMGMG11-character variant (head office):
BMOIMGMGXXXWhether funds come from abroad or another local account, here's how to receive — and what it costs.
Sender uses BMOIMGMG + your account number.
Sender uses Wise, LemFi, or Sendwave to deposit into your account.
Receive into MVola, then move to BMOI if needed.
Malagasy banks use a 23-digit RIB — code banque (5) + code guichet (5) + account number (11) + key (2). The IBAN is MG46 followed by the RIB (27 characters total). Domestic transfers route on the RIB; mobile wallets route on the phone number.
Money in a Malagasy bank account can be moved to an MVola, Orange Money or Airtel Money wallet, and wallet balances can be cashed out at agents nationwide. Most diaspora remittances are delivered straight to a wallet rather than a bank account.
Rail operator: www.banque-centrale.mg
When you actually need a SWIFT code: only for receiving money from another country. virement bancaire handles every domestic madagascar bank-to-bank, bank-to-wallet, and wallet-to-bank transfer at near-instant speed. If the sender is in the same country, SWIFT isn't involved at all — they just need your rib or phone number.
For inbound international flows, virement bancaire also matters: most modern remittance operators (Wise, Sendwave, LemFi, WorldRemit, TapTap Send) terminate their payouts via this rail rather than via correspondent SWIFT relationships. That's how they deliver in minutes instead of days — and why their all-in cost can be a fraction of a classic SWIFT wire.
Cash pickup is the fourth node in the receiving graph: Western Union, MoneyGram, Ria, RemitOne. These remain expensive but are the only option in some last-mile situations (no bank account, no wallet, urgent cash need). Mobile money cash-out via an agent network is increasingly the cheaper alternative — see our country mobile-money fee page for current cash-out rates.
One practical tip: if you're expecting a payment from abroad, ask the sender to choose the destination based on speed and amount. Small frequent payments below US$1,000 are almost always cheaper via a remittance app to your wallet. Mid-size payments (US$1,000–10,000) work well to your bank account via the same apps. Genuinely large payments (above US$50,000) are usually only practical via a SWIFT wire, even though they're the most expensive per dollar at that band.
| Bank code | Country | Location |
|---|---|---|
| BMOI | MG | MG |
| BMOI | MG (Madagascar) | Antananarivo |
An 11-character variant like BMOIMGMGXXX also indicates the head office — the trailing 'XXX' is the default. Codes ending in different sequences (e.g. 'BMOIMGMG001') refer to specific branches.
Check any SWIFT/BIC code is correctly formatted before a transfer.
vs MGA (Malagasy Ariary)
The Banque Malgache de l'Océan Indien (BMOI) is a commercial bank serving retail and corporate clients in Madagascar, historically linked to the BNP Paribas network. Its BIC, BMOIMGMG, identifies the bank for incoming international wires. As with the other Malagasy banks, a SWIFT transfer is typically used for larger or business payments, while smaller diaspora remittances are usually delivered to a mobile money wallet and withdrawn through an agent.
Antananarivo, Antananarivo
Banque Malgache de l'Océan Indien — Madagascar's commercial bank — has the SWIFT/BIC code BMOIMGMG. The 8-character base BIC BMOIMGMG targets the Antananarivo head office; the 11-character variant BMOIMGMGXXX names that same head office explicitly. You only need it for receiving an INTERNATIONAL wire (from another country). For transfers from another Madagascar account, you just use your account number plus the domestic rail (virement bancaire).
Yes. Operators like WorldRemit, Sendwave, Afriex, and Flutterwave Send let a sender abroad deposit directly into MVola without going through your BMOI account. It's usually faster and cheaper than a SWIFT wire for smaller amounts. You can then move funds to BMOI via virement bancaire if needed.
Via domestic interbank transfer (virement), which interconnects banks and wallets in real time. From the BMOI app: add MVola as a beneficiary with your phone number, and the transfer arrives instantly. See our Madagascar mobile money fees page for the exact cost.
For amounts under ~US$5,000, a remittance app (Wise, LemFi, Sendwave) depositing direct to your BMOI account is almost always cheaper than a classic SWIFT wire — lower fees and a rate closer to mid-market. For larger amounts, compare SWIFT vs app on our Madagascar inbound transfer comparison.
Yes. BMOI is connected to domestic interbank transfer (virement), which enables near-instant transfers to other Madagascar banks and to mobile money wallets (MVola, Orange Money, Airtel Money). This is the infrastructure remittance apps use behind the scenes to deliver in real time.
Source: BMOI's official website + Wise SWIFT directory. Last verified: 2026-06-11. SWIFT codes change rarely but always confirm with your bank before initiating a transfer. Educational only — not financial advice.