Opening an MRE Bank Account in Morocco and Optimising Transfers

A foreign currency account preserves your funds in euros/dollars without conversion. A convertible term account allows you to lock in foreign currency and reconvert it freely. Both are available to MRE.

Some banks (CIH, BMCE) offer online account opening or opening at the consulate. For others, a visit to a branch in Morocco is necessary. Check with your target bank.

No, foreign currency MRE accounts are reserved for Moroccan citizens residing abroad. A foreign spouse may open a standard dirham account with proof of domicile in Morocco.

There is no universal "best MRE bank": the choice depends on your profile. Attijariwafa Bank and Banque Populaire offer the densest European network (branches in France, Belgium, Netherlands, Italy, Spain). CIH Bank has the lowest transfer fees (€4-15 by amount). BMCE Bank of Africa is strong on MRE mortgages (rates 4.5-6.5%). Compare account fees, card limits, FX rates and online access before choosing. See our detailed 2026 comparison of 6 MRE banks in our news section.

You can open an MRE account without traveling to Morocco: 1) Contact the European branch of a Moroccan bank (Attijariwafa Paris, Banque Populaire Brussels, BMCE Madrid); 2) Provide your Moroccan passport, proof of foreign address, proof of income and CIN if applicable; 3) Sign the agreement at the European branch or via consular proxy; 4) Activate card and online banking. Timeline: 2 to 4 weeks. MRE accounts include perks: free transfers, preferential rates and fee exemptions.