Each year, MREs transfer over €10 billion to Morocco. But not all solutions are equal in terms of fees, timeframes and security. Here is a complete guide for choosing the best solution according to your amount and situation.
Costs & fees
| Wise (ex-TransferWise) | 0.5 to 1.5% of amount | Real exchange rate + low fixed fees |
| SWIFT bank transfer | 15 to 40 EUR + rate margin | Fixed fees + exchange rate margin of 1 to 3% |
| Western Union | 5 to 15 EUR (small amounts) | Fast but unfavourable exchange rate |
| Remitly | 0 to 5 EUR | Good rate, fast, ideal for medium amounts |
| CashPlus / Wafacash (collection) | Free for beneficiary | Cash collection in Morocco |
Timeline
Overview of available solutions
Several solutions exist for sending money to Morocco: Western Union and MoneyGram (agency network, instant cash payment but high fees), Wise (formerly TransferWise — transparent fees, interbank exchange rate, bank transfer in 1-2 days), classic SWIFT interbank transfer (secure, traceable, but high fixed fees), and the MRE convertible account opened with a Moroccan bank (the most advantageous option in the long term).
💡 Tip — For large amounts (>€2,000), bank transfers or MRE accounts are always cheaper than money transfer services. Always calculate the real cost including exchange fees.
Compare total real fees
The real cost of a transfer is not limited to the displayed fees. You must also factor in the exchange rate margin (the difference between the interbank rate and the applied rate). Western Union may display €0 fees but take 3 to 5% on the exchange rate. Wise is the most transparent: clear fixed fees + rate at the interbank rate. To compare, use Monito.com or calculate the amount actually received in DH for €1,000 sent.
💡 Tip — Always compare the final amount received in DH rather than the displayed fees. A service with displayed fees of €0 may cost more than a service showing €5 in fixed fees.
The MRE convertible account: the optimal solution
The MRE convertible account is a Moroccan bank account in convertible dirhams, allowing you to receive transfers from abroad at Bank Al-Maghrib's official rate (the best available rate) without conversion fees. Funds are freely repatriable. Several Moroccan banks (CIH, Attijariwafa, BMCE) offer remote opening of these accounts or through their European branches. It's the least expensive solution for regular transfers.
💡 Tip — Open your MRE convertible account directly at a Moroccan branch during a visit to Morocco — it's simpler. Some banks now accept remote opening.
Foreign Exchange Office regulations
The basic annual personal travel allowance is 100,000 DH WITHOUT supporting documents. However, MREs can transfer WITHOUT any ceiling their legitimate income (salaries, rents, dividends) with supporting documents. The allowance has even been raised to 500,000 DH globally by IGOC 2026 for travel purposes. For major investments (property purchase, business creation), specific authorisations may be necessary.
💡 Tip — Keep a record of your annual transfers. If you regularly reach the 100,000 DH limit, consult a Moroccan tax adviser to legally optimise your transfers.
Securing large transfers
For any transfer over €5,000, never use cash transfer services (Western Union, MoneyGram) or informal applications. Use exclusively SWIFT bank transfer or your MRE account, which leave an official trace. In case of problems (delays, lost funds), you will have concrete recourse through your bank. Cash transfers are practically non-recoverable in case of disputes.
💡 Tip — Keep transfer confirmations for each significant transfer. In case of tax or customs disputes, you will need to prove the origin and destination of funds.
⚠️ Warning — Never use informal intermediaries ('hand-to-hand transfers') for significant amounts — no recourse if funds disappear.
In depth
The choice of method depends on the amount, urgency and use. For small regular amounts (family support, 200-500 EUR/month), Wise or Remitly offer the best cost/speed ratio. For large amounts (property purchase, 50,000 EUR+), SWIFT transfer remains the reference as it is traceable and justifiable to the Foreign Exchange Office. Warning: any transfer over 200,000 DH to Morocco must be justified to the Foreign Exchange Office. Funds intended for property purchase must transit through an MRE convertible account to benefit from repatriation rights. Foreign currency accounts allow you to keep euros without automatic conversion, giving you the choice of timing conversion at the best rate. The exchange rate margin is the most significant hidden cost: traditional banks take 1 to 3% margin, compared to 0.3 to 0.7% for fintech companies. On a 10,000 EUR transfer, this represents a difference of 30 to 300 EUR. Advice: for regular transfers, open a Wise multi-currency account and keep your euros until the optimal conversion moment.
❌ Common mistakes to avoid
- ✕Using Western Union for large amounts — very high real fees once the exchange margin is included
- ✕Ignoring hidden exchange fees — they often represent more than the displayed fees
- ✕Not opening an MRE account for regular transfers — it's the most economical solution in the long term
🔗 Official links and resources
❓ Frequently asked questions
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