Send Money to Morocco

Western Union
Margin Rate: 4%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
CurrencyFair
Margin Rate: 3%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
VoltrexFX
Margin Rate: 0.7%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
RationalFX
Margin Rate: 0.8%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated

Countries in Morocco

Send money transfer to Morocco

The Dirham is officially designated as a closed currency meaning it can only be traded within Morocco, however, Dirhams are being sold and bought in travel agencies and at major airports in several countries. The import and export of the currency is tolerated up to a limit of 1000DH.

For simple transfers to Morocco, there are different options available:

Provided the recipient has a bank account in Morocco a bank transfer should be the easiest method of sending cash but there are rules surrounding it. The bank account in question must be nominated a “convertible dirham account”. This will allow foreign currency remitted to be withdrawn in dirham. Be sure to obtain the following information from your Moroccan bank, which your foreign bank will need: complete name of Moroccan bank; name of branch and/or branch number; exact street address of the branch, the branch's SWIFT; and the precise name as it reads on the account; and account number that the funds should be deposited into. It is important to speak with the Moroccan bank's wire transfer department specifically and not any general customer services representative. You will need to ask them for the name of the correspondent bank which they use in the country that you are wiring the funds from. You then need to advise your bank to use this correspondent bank. Failure to do so could mean that funds take 3 to 6 weeks to arrive as opposed to 3 to 5 days.

If you want to send cash without using your bank account or if you do not have one yet, you can opt for a worldwide money transfer service via a Money Sending Bureau. These establishments found in major cities around the world and they allow you to transfer money to Morocco. (Note that no money can be returned the other way). With this option however you will need to pay a significant commission on the transfer and it is worth looking around as fees can vary between just a few percent as high as 15% of the sum being sent. These institutions also often comparatively poor exchange rates so again the total costs need to be considered.

Bank Note System
Bank Al-Maghrib issues banknotes in values of Dh20, Dh50, Dh100 and Dh200, and coins in values of 1, 5, 10, 20 and 50 centimes, and Dh1, Dh2, Dh5 and Dh10.

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