Send money to Morocco from Canada

MoroccoCompare international money transfer services side-by-side to find the best deal when sending money to Morocco.

So you’re looking to send money overseas to Morocco, but aren’t entirely sure where to start? Have no fear – the solution is here. Use this handy guide to make quick comparisons between available services, to make sure that you come out on top, every time.

Compare Money Transfer Services

Rates last updated June 24th, 2018
Name Product Min. Transfer Amount Transfer Speed Services Description Online Transfer Fee Rate Amount Received
TorFX International Money Transfers
AUD 200
1 day
Online, Phone, Agent
TorFX guarantee to match any competitor's exchange rate for a transaction. Conditions apply.
Send money overseas in 45 currencies. Once registered, you'll be assigned an Account Manager who can provide support and guidance.

OFX (Ozforex) International Money Transfers
AUD 250
1 day
Online, Phone, Agent
$0 transfer fees for Finder customers.
Transfer any amount from $250 upwards. $0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.
WorldRemit International Money Transfers
AUD 0
Within an hour
Online, Bank Account to Bank Account, Cash Transfer
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

Compare up to 4 providers

Banks vs money transfer services

Depending on your financial institution, you may be able to send funds to Morocco, but that doesn’t mean that the bank should be your go-to. Why not? Banks don’t necessarily perform transfers at the best rates for you. Not only do they often have unattractive exchange rates, but they’re also known to charge high fees.

For this reason, many Canadians are more prone to opt for online transfer services, specializing in trading large amounts of currency on a daily basis, since they have a bit more wiggle-room when it comes to offering competitive exchange rates with lower fees than the bank.

Case Study: Peter Sends Money to Morocco

Peter needs to send $1,000 to his younger brother Matthew, who is on holiday in Morocco. On a trek through the Atlas Mountains, Matthew misplaced his wallet and needs some fast cash to hold him over until he returns home. Peter has a feeling that his bank will overcharge on exchange rates, not to mention take several days to complete the transfer, so he takes a few minutes to compare two well-known cash pickup transfer companies to find a more suitable deal.

Money Transfer Service 1 Money Transfer Service 2
Exchange rateCAD$1 = MAD7.00CAD$1 = MAD6.95
Transfer feeCAD$10CAD$50
Amount receivedMAD7,000MAD6,950
Transfer timeInstant cash transferInstant cash transfer
Transfer optionsOnlineOnline or at branch.

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.

The first service has a much lower fee than the second service, but the second service offers a better exchange rate. However, the $50 fee on the second service offsets the savings on exchange rates, meaning that Peter should choose service one if he wants to save as much as $40.

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How do I compare companies if you want to send money to Morocco?

Peter’s experience demonstrates that you can save a lot of money by comparing your money transfer options. But which features should you consider before you decide on the right service for you?

  • Exchange rates. Even a small difference in rates can measure up to big savings when you add up the total cost of a transfer.
  • Fees and charges. Rates vary by company, with some in the double digits and others hitting the bottom line at zero.
  • Transfer methods. Some companies offer online services while others deal over the phone or in a dedicated branch.
  • Speed of transfers. For emergency transfers, look for a company that offers the fastest possible turnaround times.
  • Pickup methods. Some transfer services send money direct to your bank account while others expect cash pick-up in person.
  • Customer service. Search for a company that has an excellent reputation for customer service, with both telephone and live chat support options available.

What currency is used in Morocco?

The official currency of Morocco is the Dirham, which is a closed currency, meaning you can’t buy or sell it outside of the country. You’ll often find prices quoted in euros instead of Dirhams, and you may be able to use other foreign currencies (most notably the euro, US dollar and Great Britain Pound) to pay for goods and services when you’re there. Naturally, this is up to the individual shop or restaurant, so double check before committing to purchase. Some of the providers that allow you to send money from Canada to Morocco include WorldRemit, Western Union and MoneyGram. You can also consult directly with your bank for more information about their transfer process.

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How do I send money to Morocco from Canada?

If you’re looking to send money to Morocco, check out some of the service providers below to get the quick low-down on some of the money transfer service options available to you.

  • TransferWise. Consider sending money to Morocco with TransferWise. Fees fluctuate based on how much you are sending and whether you’re paying with debit or credit. Exchange rates are set around the mid-market rate as of 03 February 2018. Transfers are normally completed between one and five business days.
  • CanadianForex. It has no transfer fees on transactions above $10,000 and only $15 for transactions below. Canadian Forex does not use mid-market rates, but rather trades at the OFX customer rate. Transfers are normally completed within two business days.
  • TorFX. Transfer fees vary based on amount sent (ie. $1000 = $13.99 fee). Exchange rates are lower than the mid-market rate.
  • Currency Solutions. No transfer fees and competitive exchange rates (typically less than 1% margin) based on the amount sent.

Emergency cash transfers to Morocco

There are some situations where you need to transfer funds urgently. When you make an emergency transfer, you will likely need to pay higher fees, with less competitive exchange rates, in return for a quick turnaround time. Make sure your recipient is near to a cash pickup location, such as Western Union, Moneygram or WorldRemit.

Cash pickup locations in Morocco

WorldRemit

  • Pick up at any branch of Banque Populaire, Wafacash, CanalM, and UAE Exchange.

Western Union

MoneyGram

  • Pick up at any branch of Banque Populaire, Wafacash, Al Barid Bank and Credit du Maroc.

Tips for picking up cash in Morocco

If you do plan to visit Morocco, the Government of Canada recommends that you exercise a high degree of caution (as of 04 February 2018). Petty crimes – notably pickpocketing, purse snatchings (sometimes by motorcyclists), scams and other thefts – take place most frequently in medinas, market areas and parks as well as on beaches. Be wary of your surroundings at all times, but even more so if you have a large amount of cash on your person.

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 prior to making transactions. 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.

Background for Morocco

A North African country bordered by the Atlantic Ocean and Mediterranean Sea, Morocco is renowned for its centuries-old cities, sweeping deserts and epic mountain peaks. Whether you’re relaxing on a panoramic terrace, camel trekking through the sand dunes or sipping a hot mint tea in one of colorful street cafes, Morocco has something to offer for travelers and locals alike. While many Canadians travel to Morocco for its unique blend of Berber, Arabian and European cultural influences, there are also over 21,000 Canadians who indicate Moroccan descent, with around 75% living in Montreal. This travel between countries facilitates a near constant exchange of money, from Canadian dollars to the Moroccan dirham and vice-versa.

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