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Best way to wire money from/to Mauritius

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slybridges

Hey all,

I'm in the process of gathering the required infos for applying to an Occupation Permit (Self Employed). Part of the requirements is to wire some investment. Also later, as a self employed, my clients will be overseas (in Europe mostly).

What's the best way to wire money from Europe to Mauritius minimizing the fees? My current bank charges some hefty fees that I'd like to avoid if at all possible.

I've heard HSBC doesn't charge fees for wiring between their branches. Unfortunately there do not seem to be an HSBC branch for individuals where we live at the moment (the Netherlands).

I usually use TransferWise app for EUR to GBP/USD/etc transfers while traveling. But unfortunately they don't support MUR currency yet.

I've heard of World Remit. Anybody has experience with it?
Any other tip I may be missing?

Tecsla Inc.LLC

I will advice you visit first and see how the banking system operates here before you can make any decisions in regards to your funds transfer. Come and see things for yourself

Hope you move here safely

WinstonH

Hi,

Do you mean transferring money from your bank account in Europe to another account in Mauritius?
Or sending money to someone in Mauritius?

Wiring via banks are usually the safest way to transfer money especially when big sums are involved. Different banks charges different transaction fees in Mauritius, so maybe you can find one that best suits your needs.

Otherwise, you can always transfer funds in between Paypal accounts in different countries. Or use the regular transfer networks like Western Union, Moneygram or Visa Direct. But then again, there are fees applicable and limits on transactions. Therefore, it really depends on your needs and the amount you are dealing with.

slybridges

Hi Winston,
Yes, I was talking about bank account to bank account transfers.
Thanks for your reply, I’ll study the fine prints :-)

juderabbani

Hi slybridges

In my opinion the safest way to transfer money into Mauritius is via an International SWIFT transfer. Yes, there are fees but then you get security and peace of mind in return.

Jude

WinstonH

juderabbani wrote:

Hi slybridges

In my opinion the safest way to transfer money into Mauritius is via an International SWIFT transfer. Yes, there are fees but then you get security and peace of mind in return.

Jude


Banks are the most trusted institutions indeed, but as long as you are dealing with recognised and accredited agencies like money transfer companies, etc, there won't be any problem.
Just make sure they are fully registered with the Financial Services Commission and with the Bank of Mauritius for banking institutions.

slybridges

Thank you both for your answers  :top:

nimpit00

Hi, I will private message you. We have utilised two institutions to transfer and have been extremely happy.

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