Last updated on June 27th, 2024 at 03:12 pm
In 2021 alone, remittances into Morocco totaled US$9.3 billion. A large percentage of this money comes from people like you. You left Morocco, you work hard, you have loved ones back home, and now you want to send money to Morocco.
As of 2020, the average transfer fee for an international remittance was 7%, which amounts to tens of billions of dollars on an annual basis.
Is there a better way to send money with low transfer fees?
Consider online money transfer companies like Remitly—reliable, easy to use, safe transfer, and low fees.
In this article, we will cover common FAQs and how to get started.
Why Should I Use Remitly to Send Money to Morocco?
Remitly offers competitive currency exchange rates, low transfer fees, and secure and fast delivery.
The pricing structure for sending money to Morocco is simple with no hidden fees.
Send Money to Morocco in 5 Easy Steps
Sending money to your friends and family with Remitly is straightforward. First, if you haven’t done so already, download the app and create an account.
- Choose Morocco as your destination country.
- Enter the transfer amount you wish to send.
- Select your preferred delivery method—bank deposit, cash pickup, or mobile money.
- Enter the recipient’s details, such as the recipient’s bank account number, bank details, and phone number.
- Add your payment details such as your credit card or debit card info.
Remitly may ask for additional documentation depending on the amount you send or if we’re unable to verify your identity.
Learn more: How to Send Money Safely to Wafacash in Morocco in 5 Easy Steps
Which Moroccan Banks/Providers Can I Send Money to With Remitly?
As of writing, these are just some of the places in Morocco where you can send money with Remitly. For the full list, check the app or website.
- BMCE Bank
- Societe Generale
- Credit Agricole
- Cash Plus
- Dirham Express
- Orange Money
- Wafacash
How Much Money Can I Send to Morocco With Remitly?
As an international money transfer provider, Remitly balances customer service with account security and international regulations. To do this, we have a sending limit when you first open your account.
If you need to send more than that, we will ask you for more information. For more about raising your sending limits, check out details here. Additional sending limits may apply depending upon your choice of payout partner or receiving location.
Additional sending limits may apply depending upon your choice of payout partner or receiving location.
How Much Does It Cost to Send Money to Morocco With Remitly?
For current pricing on money transfers to Morocco, check the app or website. At the time of this writing, transfer fees to Morocco are:
- For U.S. customers, Express transfers to Morocco are USD 3.99.
- For those in Canada, Express transfers to Morocco are fee-free if you send over $500 CAD or CAD 2.99 if you send less than $500 CAD.
- For customers in Australia, Express transfers are AUD 5.99.
- For those in the United Kingdom, Express transfers are GBP 3.99.
Wonder how much 1 USD (US dollar) or 1 EUR (euro) can exchange for MAD (Moroccan dirham)? Check out Remitly’s website for the most current rates.
Is It Safe to Send Money to Morocco With Remitly?
Millions of people around the globe trust Remitly because of the secure and smooth money transfer experience we provide. You can learn more about how Remitly goes above and beyond to keep your information and money safe.
Remitly uses multiple levels of security so you can send money home with peace of mind. Your personal data is protected 24 hours a day through fraud monitoring and encryption. For more information about our security, please visit here.
You and your recipients can track the transfers in real-time, so you won’t have to worry about where the money is. If you have questions throughout the process, we offer help 24/7.
You can have peace of mind that the money you’ve worked hard to earn will safely get to its destination.
Morocco: From Islamic Monarchy to Emerging Economic Power
Morocco’s history is fascinating. Despite its location in North Africa, Morocco has fought off invasions for centuries, even while serving as the gathering place for competing militaries.
By the end of the 17th century, Morocco was established as an Islamic monarchy. In the early part of the 1800s, the Moroccan government had considerable tensions with Spain, fighting over disputed territory.
Eventually, Morocco had no choice but to ask France to help, and in 1912, the country became a French protectorate. This protectorate lasted until 1956 when the sultan of Morocco officially declared independence.
Like many developing countries in Africa, Morocco relies heavily on the export of raw materials. After recently liberalizing its economy, as of 2020, Morocco has a gross domestic product (GDP) of 112.87 billion USD, putting it at 59th in the world.
Morocco’s major cities are Casablanca, Fez, Tangier, Marrakesh, and Sale. Its capital is Rabat. The official languages of Morocco are Standard Arabic and Tamazight, while the spoken vernacular is Moroccan Arabic.
The Moroccan diaspora is extensive, with about 5 million Moroccans living in other countries. It has one of the largest immigrant groups in Europe, with most living in France, Spain, Italy, the Netherlands, Belgium, and Germany.
Popular Banks in Morocco
If you’re looking for a bank to send your money to in Morocco, here are popular options:
- BMCE Bank
- Attijariwafa Bank
- Banque Populaire
- Societe Generale
- Credit Agricole
- BMCI
Learn more: How to Safely Send Money to Banque Populaire in Morocco in 5 Easy Steps
