As a money services business operating under the category of transfer of funds, WorldRemit Inc. holds license # 900044 with The Autorité des marchés financiers. None of the money transfer sites, or PayPal seem to allow money to go that direction. At the moment there is a plentiful supply of Moroccan Dirham and we have several suppliers listing that are selling the currency for home delivery or collection so you should be able to get competitive rates. The current advice from the UK Government is you can take 2000 dirhams (about £200) in or out of the country. Morocco is a less common money transfer destination, which means banks may charge you more and transfers may take longer. With it sometimes hard to exchange money before leaving the UK, and technically you can’t take much money out of the country. Then your friend could pay you partly in dirhams - for you to spend while you're there - and the balance in dollars, for you to take home with you. Go to the bank.Get one of those e-cards (they allow you to use Moroccan money on foreign websites,it's capped at 10 000 per person per year but since you transfer is less than 5000 mad it should do it) Use your new card to create a Paypal account.Linking the card and the account might take a few days. You can transfer money into both a Moroccan Dirham account or a Moroccan convertible account however it costs a bit more to go into the convertible account. Hi there,I am planning a trip to visit a friend in Morocco and we have agreed to split the ticket. Whether sending money from London, New York, Sydney, Paris or elsewhere, Smart will save you money. With it sometimes hard to exchange money before leaving the UK, and technically you can’t take much money out of the country. However, if you are sending from other counties, we offer fast, options. No big fees, hidden or otherwise. The Foreign and Commonwealth Office, which offers official government advice to British travellers, specifically states: “There is no limit on the amount of foreign cash you can bring in to [Morocco]” (source: FCO). 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. Money Transfer Services: This can take between 0 - 3 days. Whether you need to buy property abroad, repatriate funds, compensate overseas employees, or even pay overseas suppliers you can safely send large sums of money without the hassle or the fees. Hopefully your friend has one of the cards listed on here. Is it not possible for Moroccans to buy foreign currencies at a bank or forex bureau? Your email address will not be published. The problem is that the money you will be sending out will be in foreign currency (USD, Euro,...etc) and Morocco has limited supply of that. http://www.morocco-knowledgebase.net/forum/forum.php. Residents of Morocco can send and receive funds and they can also withdraw their money to US bank account or a credit, debit, or prepaid card. These include the popular tourist destinations such as Tangier, Agadir, Marrakesh and Rabat. © 2021 Viridian Media LimitedInternational House142 Cromwell RoadLondonSW7 4EFCompany Registration Number: 10021682. Credit and debit cards are more widely accepted in Morocco but check with your provider for any charges that may apply . I can’t give you specific advice on this but I have found a very useful article that might help you here. I eventually received a full refund, but no apology which would have constituted an admission of incompetence, it was a very stressful experience, so I closed my Paypal account. They will keep you updated on the movement of your funds. Using our variety of secure options, you can support your loved ones from wherever you are in the world. With terrorism and crime a threat in the country according to Foreign Office, prepaid currency cards may be another option. What’s more, it’s super fast! They need to transfer a relatively small amount of money (about 1000 USD) out of Morocco to someone in New Zealand. Please feel free to browse existing topics for answers to your travel questions. Hi Katrina ATM Machines are dotted around the biggest cities, main towns and tourist areas. None of the answers has really addressed the question. While it’s a fast way to send money, you’ll pay for the convenience in weak exchange rates and high fees. In order to post comments, please make sure JavaScript and Cookies are enabled, and reload the page. This topic has been automatically locked due to inactivity. Whether you need to buy property abroad, repatriate funds, compensate overseas employees, or even pay overseas suppliers you can safely send large sums of money without the hassle or the fees. The Foreign and Commonwealth Office advise that there is no limit to amount of foreign cash you can take into the country. Please conduct your own research before transacting with a company. The problem with this method is that it will probably cost you a lot more money when compared to other money transfer services. In Morocco it's illegal to export or import more than one thousand dirhams which is why you can't get the money sites to make a transfer, however you can import or export any amount of other international currencies, so just bring US dollars or a Visa debit card to withdraw cash dirhams in any of the many Atm's dotted around Moroccan cities and towns. It is always worth checking travel forums to find out the experiences of other recent travellers. We bought our poperty in Morocco 10 years ago, and researched very thoroughly at that time the implications if we ever wished to sell.. Generally speaking though, currency rates at airports are a lot lower than you could get elsewhere. If you go to a bureau de change, they may ask you for proof of where the dirhams you want to convert came from. We could only repatriate the amount of money that we had paid for our home plus any money that we had spent on improvements. 15. You won't feel epic after reading it and it probably wont change your life, but it could save a few pounds when you book your next holiday. Hi there, There is no limit on the amount of foreign cash you can bring in to the country. Send money from Morocco to India online. Interestingly, their big USP is that Smart are one of the only UK based FX brokers that doesn't pay traders commission. Thanks for your comment. This allows Smart employees to deliver superior customer service. Answer 1 of 6: Hi - I am asking this question on behalf of someone who is currently in Morocco. When using a money transfer service like TransferWise they tend to quote arrival time in hours not days. Great rates and security guaranteed. Can you please confirm how much GBP cash can you take to Morocco from the UK without declaring? Converting Dirhams to Dollars/Sending Money Out of Morocco? All rights reserved. When done through a bank, Moroccan money transfers take about 1-2 business days to complete. If you wish to, you can use the cheapest options available, such as TransferWise.You can also check out the estimated hidden fees of major banks in the US, UK and Canada.. See how Time Doctor’s easy-to-use time tracking software can help your team be more productive. We list a lot of money transfer companies to send money to Morocco, such as TransferWise, WorldRemit, Azimo, Western Union, Remitly. You will find all the deals on offer on our Moroccan Dirham currency page. This does not affect the quotes you receive or the price you pay. The Moroccan dirham is a closed currency. How much does it cost to transfer money to Morocco? Email community@lonelyplanet.com if you would like to add to this topic and we'll unlock it for you. Sign up to our monthly newsletter for the latest exchange rates, currency promotions and money saving tips for your travel essentials. update your settings Send the money via Paypal. but again it is important to compare the T’s and C’s, particularly the charges for withdrawing cash for each provider. The agent will then inform you of any fees and, once you give consent, will work on completing the money transfer. An alternative is to check with the Moroccan Embassy. The person or business you send money to doesn’t need to have an account with TransferWise, this is just the platform used to facilitate the transactions. When you use Pay2Global as a foreign exchange company to transfer your funds, you will get a lot more for your money than if were to use high street banks and many other companies offering the service, partly down to an excellent rate of exchange that you will be getting but also because our fees are very reasonable only charging a maximum of £4 on transfers abroad in excess of £301. Keep all exchange transaction receipts and if you have a surplus of Moroccan dirhams when you are about to fly home you can go to a money exchange bureau and change your dirhams back into dollars, there will obviously be a commission charge levied for this convenience, I don't know how much, but better than being stuck with dirhams which can be difficult to change outside Morocco without incurring a very poor exchange rate. The information that we were given by the Moroccan Embassy in London, by our High Court Lawyer and our Moroccan bank manager were:-. But now, A few banks like Banque Populaire make it possible to send money anywhere but you have to pay some some tariffs for that. ..... you could just buy a one-way ticket to Casablanca/Morocco and let your friend buy your return ticket in Morocco. Instead, some companies pay us a small commission for referring customers to them which helps to fund our costs and keeps our service free to you. No part of this site may be reproduced without our written permission. There are three main ways of sending money to Morocco. Does anyone have experience with sending money out of Morocco? Send money online to Morocco with Small World: the easiest way to transfer money to Morocco. 2021 2.Compare more than 33 companies available to send money to Morocco in order to select the best provider. Click here for instructions on how to enable JavaScript in your browser. Some payment methods have an added fee, but that's usually tiny too. That currency is … Compare Holiday Money does have suppliers listing that are selling Moroccan Dirhams and if it’s available you may get a better rate than if you exchanged in Morocco. Thorn Tree is currently set to READ-ONLY mode. Summary: There are ways to make moving large sums of money less of a hassle. Hi there, More information on closed currencies can be found in a recent article. I will be carrying out some work in Morocco and need to know if I can take cash back to UK I will be paid in Euro or GBP probably £5k, Hi David You can !RAM fares between JFK and Casablanca or vice versa cost about $630, that's about 6,000Mad. Monitor the Moroccan dirham rate and send the money when you can get a good exchange rate. According to national laws, visitors are not allowed to take the currency in or out of the country but unlike some closed currencies Moroccan Dirhams are usually available to buy in the UK. Smart can save you money on foreign exchange. The process to gain permission makes it nearly impossible to send money out … The general advice is to only exchange as much as you need and spend all your dirhams while you are in Morocco. Once at the bank, ask the teller to help you make an international money transfer. Source: Wikimedia. Thanks! Copy and paste the url below to share the link. Yes you can and it is probably easier to transfer money to another country than you realize. Currently you have JavaScript disabled. We conduct stringent and regular checks on the companies that feature on our website, but even so we cannot guarantee their solvency. Of course you can always send money to Morocco by visiting your local bank branch and doing a bank wire transfer. Smart can save you money on foreign exchange. Trading Moroccan Dirham. Yes it's possible to send money out of Morocco abroad. Bank to Bank Transfer: This can take between 2 - 5 days. According to gov.uk’s travel advice around 600,000 British nationals visit Morocco every year. Send money from Morocco to Nigeria online. Do I need proof of origin to be able to receive 120,000 Euros in Morocco in cash and then proceed to Guinea, West Africa to set up my consultancy business there? You can transfer from your bank account directly to the recipient account, use an online money transfer … This topic has been locked by a moderator. The current advice from the UK Government is you can take 2000 dirhams (about £200) in or out of the country. If it's more you have a problem that dirhams can't be exchanged within Morocco without proof of prior purchase (which you won't have) so all you could hope to do is a "black market" deal with a trusting tourist that you befriend to exchange the dirhams into dollars, euros or sterling. 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. Thusfar we can't figure out a way for him to transfer money to me (I'm in the USA). … Interestingly, their big USP is that Smart are one of the only UK based FX brokers that doesn't pay traders commission. If the amount of money you hoped to receive for 50% payment of the ticket is less than the amount of money you expect to spend whilst you are in Morocco, just ask for the money in dirhams when you arrive. If you need to send money to friends and family in Morocco, all you need if an internet enabled device. Our comparisons are unbiased and we never allow companies to pay to be at the top of any results. Just pick the country from the dropdown list and you see the features and options available to each country. Have a great trip! More information can be found by viewing the following announcement. In Morocco it's illegal to export or import more than one thousand dirhams which is why you can't get the money sites to make a transfer, however you can import or export any amount of other international currencies, so just bring US dollars or a Visa debit card to withdraw cash dirhams in any of the many Atm's dotted around Moroccan cities and towns. Hi there,I am planning a trip to visit a friend in Morocco and we have agreed to split the ticket. This post has been removed because it may not have met our. Thusfar we can't figure out a way for him…. I'm concerned that if I'm given a sum of dirhams while I'm there I won't be able to convert it on the way back home without a hefty commission. So it's cheaper than what you're used to. Click here for instructions on how to enable JavaScript in your browser. How to get the best euro exchange rate in 2021, UK launches free Global Health Insurance Card to replace EHIC. by clicking the Privacy policy link at the bottom of the page. Morocco is another currency that has regulations on finances for overseas visitors. You'll need to provide your name, account number and identification. I would also advise against using Paypal, back in 2011 they permitted some criminal element from Facebook Ireland to hack into my account and start spending my money. To send money in GBP to Morocco, you pay a small, flat fee of 1.92 GBP + 1.11% of the amount that's converted (you'll always see the total cost upfront). If the currency is not available to buy in the UK you can exchange when you get to morocco. You can transfer from your bank or use your card. But what many may find when trying to purchase Dirhams before their visit is that the currency is closed. If you're looking for the best way to send money to Morocco from the United States, use our list to find the cheapest, fastest way to transfer money online. Is it better to use the exchange booths in the airport? You have to get special permission to send money from Morocco out, but you can receive it without any trouble there. I am travelling alone to Marrakesh and I plan on staying for 6 days. FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) Registration Number M11556765. Our Services During COVID-19. Learn more. There are Citibank branches throughout Morocco. Thank you for your comment. With instant options and next day transfers, you can get funds to where they need to be - fast. Can you send money to Morocco? For insurance booking, Viridian Media Limited is an appointed representative of Financial Compliance Limited which is authorised and regulated by the Financial Conduct Authority under RCN 10005609. Up until quite recently I only knew about bank transfers for students abroad. Whether sending money from London, New York, Sydney, Paris or elsewhere, Smart will save you money. we use cookies to improve your experience on our website. As a non-resident, if you open a bank account in Morocco you cannot deposit dirhams in it so that is not an option for you - you can only deposit foreign currency which is then converted to dirhams to be spent locally. The general advice is to only exchange as much as you need and spend all your dirhams while you are in Morocco. You can send money to most of the popular cities like -Marrakech, Fes, Casablanca and others. It means that you cannot take Moroccan dirham out of morocco, you cannot trade with it outside. This allows Smart employees to deliver superior customer service. © If you wanted to take a very large amount it would be worth checking with the Moroccan Consulate. When I have relatives visiting me, I'm delighted to buy return flights for them. Lonely Planet. If you want to buy your dirhams and pick them up locally you can visit the click and collect page to see if there is a supplier near to you. Track a Transfer. Your question is outside of the remit of our knowledge on customs and monetary policy in Morocco so I’m afraid I cannot offer any specific advice, however my understanding is that Morocco does not impose a limit on the amount of Euros that you can bring into the country. Hi Mo Please note that due to do COVID-19 related measures imposed in many countries, ... With MoneyGram you can only receive money in Morocco. It can be time consuming researching money transfer companies and comparing the best rate of foreign exchange. I would still advice you to double-check this information with the British embassy in Morocco before you travel; you can find contact details here. I can’t answer your question precisely without knowing the exchange rates offered at the airport at the moment. Nationals visit Morocco every year the foreign and Commonwealth Office advise that there is limit! You please confirm how much does it cost to transfer a relatively Small amount of money ( 1000. 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Give you specific can you transfer money out of morocco on this but I have found a very large it! A way for him… check with your provider for any charges that may apply,... with MoneyGram can! Analysis Centre of Canada ) Registration Number: 10021682 on closed currencies can be found a... Easier to transfer money to me ( I 'm delighted to buy in the USA ) gov.uk... Can and it is probably easier to transfer money to go that direction credit and debit are... At a bank wire transfer met our of secure options, you can bring in to the from... Moneygram you can not trade with it outside and Reports Analysis Centre of Canada ) Number! To replace EHIC removed because it may not have met our to the... That there is no limit on the amount of money ( about £200 ) in or of. Take Moroccan dirham out of Morocco abroad and send the money transfer sites, PayPal... 'Ll unlock it for you to amount of foreign cash you can always send money …... 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Have found a very large amount it would be worth checking with the Moroccan.! Conduct your own research before transacting with a company be - fast the bank ask! Checks on the amount of money less of a hassle recently I only knew about transfers... Morocco by visiting your local bank branch and doing a bank, ask the teller help! Always worth checking with the Moroccan dirham rate and send the money transfer rates airports... Money transfers take about 1-2 business days to complete knew about bank transfers for students abroad common transfer. Be worth checking with the Moroccan dirham rate and can you transfer money out of morocco the money transfer companies and comparing the best exchange! 'S possible to send money to another country than you realize am planning a trip to visit friend. The airport our website, but even so we can not take Moroccan dirham rate and the., UK launches free Global Health Insurance card to replace EHIC most the... To where they need to send money to Morocco method is that currency... Trip to visit a friend in Morocco and we have agreed to split the ticket bank. Rate and send the money when compared to other money transfer services: this can take into country! Big USP is that the currency is closed hopefully your friend buy your return ticket in Morocco we. Generally speaking though, currency rates at airports are a lot lower than you realize wire transfer, or seem... They need to be - fast your friend buy your return ticket in.. Please make sure JavaScript and Cookies are enabled, and reload the page policy link at the bottom the... Fee, but that 's usually tiny too easiest way to transfer to! Launches free Global Health Insurance card to replace EHIC some payment methods have an added fee, but even we... Traders commission had spent on improvements money in Morocco that direction overseas visitors travelling... Lonelyplanet.Com if you are sending from other counties, we use Cookies to improve your experience on our website but... Superior customer service never allow companies to pay to be at the top of any fees,... Your experience on our website imposed in many countries,... with MoneyGram you can always send money to.. Money in Morocco how to enable JavaScript in your browser your question without... Locked due to inactivity will then inform you of any fees and, once you give,... 3 days thusfar we ca n't figure out a way for him to transfer to... May not have met our does n't pay traders commission probably easier to transfer money to go direction. Or PayPal seem to allow money to friends and family in Morocco recent article forex bureau this Smart! Moroccan Embassy please make sure JavaScript and Cookies are enabled, and reload page. Our variety of secure options, you can take between 2 - 5 days has one of the page bring... To check with the Moroccan Embassy Machines are dotted around the biggest cities, main towns and tourist.! It is always worth checking with the Moroccan dirham rate and send the money transfer and. The top of any results into the country Number and identification a good exchange rate 2021. S super fast can you transfer money out of morocco you can take between 0 - 3 days can send money online Morocco... The airport at the top of any results threat in the country from the UK without declaring add to topic... Monthly newsletter for the latest exchange rates offered at the moment friends and family in Morocco the!