Send Money To Morocco

Currency Symbol and Swift Codes

What currency does Morocco use? The Moroccan dirham (MAD‎) is the official currency of Morocco. One dirham is divided into 100 santimat. The Moroccan dirham is issued by Bank Al-Maghrib, the country’s central bank.

To transfer money to a Moroccan bank account, you will need the bank’s SWIFT code. Here are SWIFT codes of some popular banks in Morocco.

Case Study

Hamza had moved to France as a student, and upon the completion of his studies he decided to stay back. Not long after, he found a desirable job. Once this happened, Hamza wanted to start sending some money back home, to his younger brother who was still in college. He used the services of a popular French bank for the first couple of transfers. Then, upon the suggestion of a co-worker, he compared his alternatives. The findings of his comparison are in the corresponding table.

Turning to the money transfer company resulted in Hamza’s brother getting some extra money every time. In addition, the company also let Hamza lock in exchange rates for up to six months.

Cash Pickup Locations in Morocco

Popular companies such as Western Union, MoneyGram, WorldRemit, and Ria let you transfer money to cash pickup locations in Morocco. You may use the services of these companies if you want to transfer money to Morocco quickly, or in case the recipient does not have a bank account.

Safety Tips for Picking Up Cash in Morocco

Instances of petty crime such as bag snatching, pickpocketing, and snatching of jewelry, even by motorcyclists, are common. While they are frequently reported around market places, medinas, beaches, parks, and ATMs, they may take place anywhere. Do not carry valuables or large amounts of money with you. If you have to collect a large sum from a cash pickup center, consider taking someone you trust along, and collect the money during daylight.

Violent crimes involving knives have taken place in recent times, resulting in injuries and even death. If you find yourself in such a situation, do not resist. Avoid visiting secluded areas at all times. Remain particularly vigilant after dark. Women travelling alone should remain watchful at all times, as there have been numerous reports of harassment and verbal abuse.

What Information Do I Need to Transfer Money to Morocco?

This information required to transfer money to Morocco depends on the desired transfer method.

• Sending to a bank account. You will need to provide the recipient’s complete name, a bank account number, as well as the receiving bank’s name and SWIFT code.
• Sending to a cash pickup center. You will need the recipient’s complete name and the location from where the recipient plans to collect the cash. The recipient may collect the money by presenting a reference or transaction number along with an acceptable form of photo ID.

Regulations When Transferring Money To and From Morocco

There is no maximum limit on how much foreign currency you may bring into Morocco upon your arrival to the country. The Moroccan Dirham remains a non-convertible currency. You may import or export no more than MAD 2,000 to or from the country.

The Office des Changes (Foreign Exchange Office) maintains and manages a system of foreign exchange controls. Transfer rules have been liberalized significantly in the recent past. Residents and non-residents may open convertible dirham accounts as well as foreign currency accounts, although they need prior permission from the Office des Changes.