Do you want to send money to Morocco but don’t know which company to use or how to do it?
Whether you’re making regular payments to family or friends, or you’re looking to send money to a business or creditor, give this page a read for information on how to send money to Morocco and the different providers that will facilitate an international money transfer.
Many people need to send money to a foreign country. There’s a large number of international money transfer services on the market. But do you go with a foreign exchange provider that specialises in international payments or a main steam financial institution, like your transaction account provider? Many mainstream lending institutions will not allow you to transfer Australian dollars to Moroccan Dirham.
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With over 17 years of foreign exchange expertise and over $100 billion transferred, OFX can help with all your currency exchange needs, including:
- Buying property abroad
- Regular overseas payments
- Risk management
Comparing a bank and non-bank money transfer service
Currency availability will be a determining factor in your comparison of who to use to send funds. We’ve compared a bank and a money transfer provider to give you a snapshot of the deal you’re likely to receive from different institutions.
|Money Transfer Service 1 (Non-bank)||Money Transfer Service 2 (Non-bank)|
|Exchange rate||$1AUD = MAD 7.4759||$1AUD = MAD 7.4944|
|Amount received for $500 AUD (Moroccan Dirham)||MAD 3,737.93||MAD 3,747.21|
|Transfer time||Instant cash transfer||Instant cash transfer|
|Transfer options||Online||Online or at branch.|
|Total cost of transaction||$511.99||$550|
|Amount received by recipient||MAD 3737.93||MAD 3747.21|
Rates are indicative and subject to change. Major banking institutions may not let you transfer to a Moroccan account. You’ll need to check with your lending institution to see if they allow you to do this.
As can be seen in this example, the first service charges a fee almost $40 less than the second service, but the second service offers a better exchange rate. All together the $40 in extra fees sees the second recipient lose out on almost MAD 300 in fees, which offsets the MAD 10 lost in exchange rates.Back to top
How do I compare companies if you want to send money to Morocco?
- Exchange rates. In basic terms, this is how much money you get when you convert Australian dollars to Moroccan Dirham. Exchange rates differ greatly between international payment providers. You can view the applicable foreign exchange rate on the provider’s website before you get a quote.
- Collection. An important consideration for both the sender and the receiver. How can the recipient access the money you’ve sent them? Some providers allow you to send money directly to an international bank account, other providers send the money to a local merchant for the recipient to collect; while some providers let you do both.
- Fees and charges. How much will it cost you to send money to Morocco? There may be a charge applied to the sender for the international transfer in addition to fees to receive the money. Some providers will waive transfer fees, but they make their money through an inflated foreign exchange rate.
- Transfer time. How long will it take before the money clears in the Moroccan account?
- Minimum transfer. This is pretty straight forward, what’s the smallest amount of money you can send to Morocco? Some providers have no minimum transfer limit, some providers have a minimum transfer of $500, for example; and other providers have no minimum transfer amount but will charge you a fee if you want to send under a certain amount.
- Customer service. An often overlooked point of consideration but an important factor to consider, what’s the provider’s customer service team like? Do they offer a 24/7 service? Being able to speak to a representative is important if something goes wrong when you send money to Morocco.
How do I send money to Morocco from Australia?
We compare providers that let you send money to Morocco. The following institutions allow you to send money to a person in Morocco.
- OFX. Send money to Morocco with OFX. The minimum transfer amount is $750. A flat fee of $15.00AUD is charged for all transfers under $10,000. It will take at least two business days before the funds clear for the recipient to collect.
- WorldRemit. You can send cash transfers to Morocco with WorldRemit.
- TorFX. TorFX have no minimum transfer amount. But a fee may be applied for transactions under $10,000. It will take at least two business days before the funds become available.
- Travelex. Travelex charge no commission when you send money to Morocco; however, a small surcharge will apply for credit card and debit card payments. The minimum amount you can order online is $250AUD.
Emergency cash transfers to Morocco
Do you need to get money to Morocco, quickly? Or are you looking for emergency access to cash if you’re card or wallet has been lost or stolen? There a couple of options available to you, including:
- Wire transfer with cash pickup. Look for an international payments provider like WorldRemit, Western Union or Moneygram, they offer almost instantaneous money transfers between people in different countries. The speed of transfer will come at the price of extra fees.
Accessing cash in Morocco
- Card provider and card scheme emergency cash. Get in touch with your card provider and card scheme if you’re stuck without money and need an emergency cash advance. Your bank and companies like Visa and MasterCard can make the funds in your account available to you to pick up a local merchant through their emergency cash program.
Cash pickup locations in Morocco
You can pick up cash from Canal M in Casablanca.
- Boulevard Oued Oum Rabia,Casablanca.
Western Union has approximately 40 locations in Casablanca alone where you can collect cash transfers. For example:
- 195 Bourgone.
Angle Rue Ajaccio And Rue MohaLot Gardigna 1, Casablanca,
Open 9am to 4pm Monday to Friday.
- Agence 188 Palmer.
Quartier Palmier Rue Rembrandt Derb Ghallef Casablanca, Casablanca.
Open Monday to Friday 8am to 6 pm.
MoneyGram have a large number of merchants and businesses where cash can be collected. Some examples include:
- Cash PlusBoulevard MLY El Hassan. 86 Hay Baladia, Casablanca.0522839936Open Monday to Sunday 7am to 11.59pm.
- Credit Du Maroc.2 Charii Adarissa, Casablanca.2702557Open Monday to Friday 8.15 am – 2.15pm.
Tips for picking up cash in Morocco
The department of Foreign Affairs and Trade (DFAT) has issued a statement saying Australians should exercise a high degree of caution when visiting Morocco. Exercise common sense when you’re collecting money in Morocco and travel with a group or a partner if possible when you’re transporting the money.Back to top
How do I send money to Morocco?
If you want to send money to a Moroccan bank account, you may need the following information:
- Personal details. You’ll need to provide basic personal details of the person you wish to send the money to, this includes information like their name and address.
- Bank code: A three digit number.
- Branch code: A five digit number.
- Account number: A 14 digit number.
- RIB Key: A two digit number.
Some providers require that you open an account with them first. To do this, you may need to provide your personal details and verify a linked bank account. The international money transfer provider will advise you of the requirements prior to receiving a quote to send money to Morocco.
Following your payment for the funds transfer, you should receive an invoice or receipt providing proof that the funds have been sent.
Send money to Morocco quickly, easily and cheaply by comparing international money transfer companies. If you need more information about how to send money to Morocco, get in touch with us by asking a question using the form below.