Send Money To Morocco

Updated on September 13, 2020
Personal
Business
From
United States Flag
United States
USD
To
Morocco Flag
Morocco
MAD
1 USD equals
9.177 MAD
09/13/2020 5:19 PM UTC
 
How much to transfer?
$1-1k
$1k-10k
$10k +
Provider
Features
Fees
Score
Speed
Transfer Now
OFX Logo
  • Check Icon
    0.4% margin for new customers referred by iCompareFX
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Online and phone transfers
$
$
$

low

Fees
87
Speed Icon

medium

2-3 days

Less Information
+

Transfer Options

  • Bank transfer
  • Debit card (UK only)
  • BPAY (Australia only)
  • Direct debit (U.S. only)

Features

  • Check Icon
    0.4% margin for new customers referred by iCompareFX
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Online and phone transfers

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    Pay no fees for personal transfers
  • Circle Check Icon
    Get competitive exchange rates
  • Circle Check Icon
    Lets you schedule transfers with ease
  • Circle Check Icon
    Trading in some currencies possible only over the phone
  • Circle Check Icon
    Website access only in English

TorFX Logo
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Forward contracts
  • Check Icon
    Limit and stop loss orders
  • Check Icon
    Travel money solutions for UK residents
$
$
$

low

Fees
72
Speed Icon

medium

2-3 days

Less Information
+

Transfer Options

  • Bank transfer
  • CHAPS (UK only)
  • BACS (UK only)
  • Visa debit card (UK only)

Features

  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Forward contracts
  • Check Icon
    Limit and stop loss orders
  • Check Icon
    Travel money solutions for UK residents

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    Pay no fees for one-off transfers
  • Circle Check Icon
    Schedule transfers between £500 and £10,000 per month
  • Circle Check Icon
    Use hedging tools to protect yourself against FX fluctuations
  • Circle Check Icon
    No multilingual website

XE Money Transfer Logo
  • Check Icon
    Fee-free transfers
  • Check Icon
    Competitive exchanges rates
  • Check Icon
    Limit orders
  • Check Icon
    Multilingual website and customer service
$
$
$

low

Fees
74
Speed Icon

medium

2-3 days

Less Information
+

Transfer Options

  • Bank Transfer
  • BPAY (Australia)

Features

  • Check Icon
    Fee-free transfers
  • Check Icon
    Competitive exchanges rates
  • Check Icon
    Limit orders
  • Check Icon
    Multilingual website and customer service

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    No fees for personal transfers
  • Circle Check Icon
    Accepts payments in several currencies
  • Circle Check Icon
    Target specific rates using limit orders
  • Circle Check Icon
    No debit or credit card payments
  • Circle Check Icon
    No scheduled transfers

WorldRemit Logo
  • Check Icon
    Bank account transfers and cash transfers
  • Check Icon
    Mobile airtime and mobile wallets top up
  • Check Icon
    Home delivery of transferred funds
  • Check Icon
    Multicurrency WorldRemit Wallet
  • Check Icon
    Multilingual website
$
$
$

medium

Fees
63
Speed Icon

fast

1-2 days

Less Information
+

Transfer Options

  • Bank Transfer
  • Debit / Credit card
  • Google / Apply Pay
  • POLi (Australia)

Features

  • Check Icon
    Bank account transfers and cash transfers
  • Check Icon
    Mobile airtime and mobile wallets top up
  • Check Icon
    Home delivery of transferred funds
  • Check Icon
    Multicurrency WorldRemit Wallet
  • Check Icon
    Multilingual website

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

medium

Fees
Speed Icon

fast

1-2 days

Best For

  • Circle Check Icon
    Transfers to cash pickup locations
  • Circle Check Icon
    Transparent rates and fees
  • Circle Check Icon
    Low minimum transfer amount
  • Circle Check Icon
    No hedging tools
  • Circle Check Icon
    No scheduled transfers

Payoneer Logo
    $
    $
    $

    high

    Fees
    71
    Speed Icon

    medium

    2-3 days

    Less Information
    +

    Transfer Options

    • Bank transfer
    • Debit card
    • Credit card
    • Bank debit

    Features

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      high

      Fees
      Speed Icon

      medium

      2-3 days

      Best For


      How to send money to Morocco

      How To Step Icon
      Step 1
      Evaluate your options, create an account
      Evaluate your options, create an account
      Several companies send money to Morocco. Evaluate the leading options based on your specific requirements.
      Once you have chosen a provider, create an account as an individual or a business.
      You will need to provide your contact details, and you might also need to provide details from a valid identity document.
      How To Step Icon
      Step 2
      Check exchange rates, confirm your transfer
      Check exchange rates, confirm your transfer
      Determine if it is a favorable time to transfer money to Morocco by checking historical MAD exchange rates.
      To get a rate quote from your service provider, visit the website and enter the amount you wish to send.
      Lock in the rate to confirm the transfer.
      Provide the recipient's Moroccan bank account details. You get to know of the estimated turnaround time when you finalize your transfer.
      How To Step Icon
      Step 3
      Pay for the transfer, receive updates
      Pay for the transfer, receive updates
      Payment methods vary from one service provider to the next. Use an available method and pay for your transfer.
      Your service provider will send money to Taiwan only after your payment goes through.
      The recipient will receive the money within the given turnaround time.
      You may receive updates through email or text notifications, and you can also track your transfer by visiting your service provider's website.

      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.

      BANKBRANCHSWIFT CODE
      Attijariwafa BankCasablancaBCMAMAMCXXX
      Banque PopulaireCasablancaBCPOMAM10MG
      Societe GeneraleCasablancaSGMBMAMCXXX
      Credit AgricoleRabatCNCAMAMRXXX

       

      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.

       BANKMONEY TRANSFER SERVICE
      Exchange rateEUR 1 = MAD 11.0196EUR 1 = MAD 11.2267
      Transfer feeEUR 15EUR 0
      Amount received for EUR 1,000MAD 10,854.31MAD 11,226.70
      Transfer time2 to 6 days2 to 3 days
      Transfer optionsBank accountBank account
      Difference of MAD 372.39

      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.

      WESTERN UNION IN MOROCCO 
      Casablanca Benjdia 155 Rue Alsace Benjida Mers Soltan CasablancaMoulay Thami Ouled Oum Rbii Rond Point Mly Casablanca
      Marrakesh Charaf Lot El Yassmine Mag 203 Al Manar MarrakechMarrakech Maatalah Askejour Lot Maatalah Rdc N 1049 Mhamid Marrakech
      MONEYGRAM IN MOROCCO 
      Casablanca Bank Uralsib Mkrn Vostochny 5/5 Novyy Urengoy CasablancaAssociation Al Amanda Pour La Promotion D 44 Rue Mohammed Tabet Avenue Ezziraoui Casablanca
      Marrakech Banque Centrale Populaire 7 Immeuble, 3 9 Bloc B Qut Mhamid MarrakechAssociation Al Amana Pour La Promotion D Tranche 1 Lettre 1 N 44 Tamansourt Marrakech

       

      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.

      Convert USD to MAD

      Check out the historical exchange rates for the last thirty days. Learn how much you can save by using a global money transfer company instead of the big banks.
      USD
      MAD
      Sending money online through specialist money transfer companies.

      Expect to receive between MAD908.48 and MAD913.99 when sending money from USD to MAD at today's exchange rate.

      Compare that to sending money overseas through retail banks. Expect to receive approximately MAD871.78, not including additional banking fees. That is an average saving of MAD39.46.
      Currency exchange rate in the last 30 days

      Need more information?

      Read useful guides on international remittance and more detailed reviews on the best money transfer services.

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