Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Send money to Morocco

International money transfers don’t have to be expensive. Here’s how you can send money to Morocco.

What are your options if you want to send money to Morocco? Be aware that banks can charge you a lot of money to send money overseas, and transfers may take several days. Compare your money transfer options to find the best way to send money to Morocco without paying high fees or losing out on a bad exchange rate.

Compare options for sending money to Morocco

Name Product Minimum Transfer Transfer Time Transfer Fee
Wise (TransferWise) - Ireland
EUR 1
1-2 days
Varies
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
CurrencyFair - Ireland
EUR 5
1-2 days
Varies
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Azimo - Ireland
GBP 10
Instant
Varies
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.
XE Money Transfers - Ireland
EUR 1
Same day
EUR 2
XE has fast transfers with low fees and a range of foreign currency tools.
WorldRemit - Ireland
EUR 1
Same day
Varies
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
loading

Compare up to 4 providers

What’s the best way to send money to Morocco?

Online money transfer providers typically offer the strongest exchange rates and lowest fees to send money to Morocco. Some offer cash pickup in as little as a few minutes, while others seamlessly transfer to bank accounts. Sending money through PayPal or your bank is also an option, but you’ll typically face higher fees and weaker exchange rates when going that route.

Digital money transfer services

Companies like XE specialise in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s Moroccan bank account, often in as little as a day or two.

Cash transfers

Services like MoneyGram, Remitly and Western Union allow you to transfer cash for pickup at a local branch in Morocco – often in 15 minutes. While it’s a fast way to send money, you’ll pay for the convenience in weak exchange rates and high fees.

Banks

The Moroccan dirham isn’t a massively popular currency, so your local bank might not be able to exchange it. If your bank does support the Moroccan dirham, beware of high fees and wide margins on the exchange rate compared to digital and other options when sending money to Morocco.

Let’s crunch the numbers: Sending €1,000 to Morocco

Let’s say you need to send €1,000 to family in Morocco. Here’s what you might face as far as fees and exchange rates as of 1 October 2020.

Digital money transfer serviceCash transferBank transfer
Fee€0€1.99€28 + additional correspondent bank fees
Exchange rate1 EUR = 10.76 MAD1 EUR = 10.67 MAD1 EUR = 9.95 MAD
Transfer speed1-2 dayMinutes2-5 days
Amount receivedMAD 10,762MAD 10,679MAD 9,957
Verdict
  • Best value
  • Fastest
  • Slowest and most expensive

The bank option ends up being both the slowest and gets the smallest amount of money to your recipient in Morocco. If you go with the digital money transfer service, your recipient ends up with MAD 805 more than the bank offers. If speed is crucial, a cash transfer can typically have your transfer to Morocco in as little as 15 minutes, just make sure there is a cash pickup location near your recipient before sending.

How to send money to Morocco online

Sign up and send money with a digital money transfer specialist in four steps:

  1. Sign up for a free account. Pick a provider and sign up for a free online account using your contact information, proof of ID and preferred payment method.
  2. Provide transfer details. Submit your recipient’s contact information and pick a delivery method. If transferring to a bank, you’ll need their Moroccan bank account information.
  3. Confirm transfer details. Double check your payment method, expected fees and destination.
  4. Save your receipt. Record your receipt’s confirmation number to track the progress of your transfer to Morocco. Some money transfer providers send a text or email when your transfer is complete.

What are the ways that I can send money to Morocco

  • Bank transfers. Many major Irish banks will allow you to send money to Morocco.
  • Money transfer providers. Providers like XE and CurrencyTransfer can help you quickly and easily transfer your money online.
  • Providers with cash pickup. Western Union, Remitly and MoneyGram allow you to send funds for cash pickup at agent locations.
  • PayPal. Electronic payment giant PayPal allows you to send money from Ireland to Morocco.
Back to top

How to get the most out of your money transfer to Morocco

Weigh costs and fees against convenience to learn how to compare money transfer providers that send to Morocco to best meet your needs:

  • Exchange rates. The EUR-MAD relationship fluctuates occasionally, so using a service that allows you to lock in exchange prices may help you save money down the line if the Moroccan dirham rises against the euro.
  • Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger EUR-MAD exchange rate.
  • Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the amount of dirham you’re sending to Morocco.
  • Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, look for a digital specialist that offers instant transfers to Morocco.
  • Sending limits. Comparing prices for one large transfer instead of many small transfers is typically easier, so picking the service you use based on how much you’re sending is a valid strategy for saving money.
  • Transfer methods. Whether you want money sent to a Moroccan bank account or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.

How to make an emergency cash transfer

When urgency trumps cost to get your money to Morocco quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.

How to send money to Morocco without a bank account

If you don’t have a bank account, you can still use cash transfer services to send money to Morocco. Similarly, a recipient can get the money with a cash transfer if they don’t have a bank account. These services are widely available around the world and although they’ll typically not be the cheapest available, they can be fast and convenient.

Morocco’s exchange rates explained

The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. The Moroccan dirham is pegged to the euro and the dollar, so the EUR-MAD relationship doesn’t often dramatically change. Factors that can influence the exchange rate include interest rates, economic stability and inflation.

1
0
Updated: 30 Jul 2021 16:25:46 UTC

Documents needed for sending to and receiving money in Morocco

To send money to Morocco from Ireland, you’ll need government-issued ID and other documents, while documents needed to pick up money in Morocco may differ by company.

Documents to send money from Ireland

To send money from Ireland to Morocco, you’ll need documentation and details that include:

  • Identification. Most services require a driver’s licence, passport or other government-issued ID.
  • Payment method. Your service may accept credit or debit cards, cash, bank accounts or cheques.
  • Recipient information. Submit your recipient’s name as it appears on their ID, along with their phone number and Moroccan bank account information.

Documents to receive money in Morocco

To pick up money in person, documentation can include:

  • Transfer number. The person sending you money can forward the transfer’s confirmation details – called a PIN, an MTCN, a reference number or a tracking number, depending on the company.
  • Government-issued ID. A Moroccan passport, Moroccan ID or similar official ID may be required to pick up your transfer.
  • Amount sent. You may need to know how much was sent, usually within 10% of the total.
  • Sender’s information. Take along your sender’s full name, the sending country and their address, if known.

Bottom line

Sending your hard-earned money to Morocco shouldn’t cost a fortune. Compare money transfer companies that specialise in foreign transactions for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country specific guides the next time you need to make a transfer.

More guides on Finder

  • Foreign currency accounts in Ireland

    International banking transactions can be made easy with the help of a multi currency account. If you find that you are consistently trying to manage currencies other than the Australian dollar, then consider banking your money in this type of account.

  • Debit cards for kids

    Support your child’s financial knowledge and teach the important real-life money skills in a safe and controlled way with a kids debit card.

  • Best budgeting apps in Ireland

    Discover how to save money when you use these handy money-saving apps.

  • Cashback incentives: What is cashback?

    Discover how you can get your money back with a cashback incentive.

  • Revolut alternatives including banks, apps and competitors

    There are a number of cards and banking apps similar to Revolut that you can use in Ireland, so we’ve put together a list and compared their features for you.

  • The A to Z Guide to Bank Fees

    Reads our A to Z guide on all the fees you could be charged on your bank account – and how you can avoid them.

  • Using a debit card abroad

    A debit card with little or no international transaction fees makes it a great option to use abroad. We look at the pros and cons of using a debit card abroad.

  • Western Union fees explained

    Be in the know when it comes to sending money abroad with Western Union and avoid high fees.

  • Coinbase vs Coinbase Pro

    We compare Coinbase and Coinbase Pro side-by-side so you can see the differences in fees, features, supported cryptocurrencies and more.

  • Kraken vs Coinbase

    We compare the key differences between two of the most popular cryptocurrency exchanges in terms of fees, features, customer support and more.

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy Policy and Terms.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site