How to send money from Italy to Morocco

Table of contents

You live in Italy and want to send money to Morocco? It’s very simple these days, but there are two main factors to consider: cost and security. If you are reading this article, you will have all the information you need to make sure you are not mistaken. 


There is a large movement of the Moroccan population in European countries and expatriate transfers are frequent for family, health or work reasons, but you have to take into account the fact that the dirham is a rare currency compared to the euro or the dollar, and although there is a large volume and frequency of international transfers, the exchange rate can sometimes be a little high when dealing with banks.


    1. How to send money from Italy to Morocco?
    2. Change from Euro to Dirham
    3. Collection of the money in Morocco
    4. Remittance agencies VS Banks
    5. What I should know if I transfer money


1. How to send money from Italy to Morocco?

Nowadays, there are many ways to transfer money to Morocco from Italy but each of these options involves exchange rates and conditions that you will have to take into account to make the best decision. We explain this below:


– Banks

Transfers through a bank are safe, but they are a rather expensive option. What do you need to do to send a transfer to Morocco from a bank?

Register at the bank: First of all you must know that you will have to open an account in a bank that operates in Morocco (CaixaBank, Attijariwafa Bankpara), and for that you will have to credit, always according to the bank, a salary and different receipts and documents that guarantee you to be able to open it and manage your money.

Maintenance: In addition, in general terms, a bank will charge you an annual maintenance fee for having your current account open.

Transfer fee: You should be aware that currency exchange in a bank has very high commissions, in addition to the EUR/MAD exchange rate.

Time: From the moment you give the order to send, the transfer will take between 2-3 working days, depending on the bank that operates and will reach the Moroccan account of the recipient.


– Checks

This method, less common and not very agile, but still an option. Traveler’s checks are issued by an Italian bank in the name of a person who will allow you to exchange it for money in Morocco or use it as a means of payment.

It is usually bought in the country of origin, although you can also buy them at airports, stations, hotels or travel agencies.

Exchange problems. Traveler’s checks are not widely accepted in Morocco and you will have trouble cashing them at banks or shops. And where they are accepted, you will find high commissions and it is not recommended.


– Remittance agencies

Remittance agencies such as Moneytrans are the most common and fastest way to send money to Morocco as they have a wide distribution of agents in physical stores throughout Italy to take the money in cash and send it instantly to the recipient in Morocco.

How to send money to Morocco by agency. You will only need a few minutes to follow these steps:

  1. Go to any agency, call centre or tobacconist that offers international transfer services and identify yourself with a valid document (ID card, driving licence, etc.). Find nearby agencies in your area. .
  2. Complete a form that the agent will give you and hand over the money to be sent. You will be informed beforehand of the commission and the exchange rate from euro to dirham.
  3. The agent will give you a transaction number that you will have to keep and share with the beneficiary who will collect or receive the money in Morocco

Online service. In addition, agencies now allow you to send money online to Morocco without having to leave your home via the company’s website, which is an advantage, firstly because the commission is lower, and secondly, because you will not have to move your money from home.



Agencia Moneytrans


– Others

There are other methods of sending money online such as Paypal. The drawback is its high cost, and particularly in the case of Morocco.


2. Change from Euro to Dirham

Because the Euro is strong against the Moroccan dirham, it is possible to get a good amount of dirhams for every euro you transfer. This rate fluctuates daily depending on a number of factors, including inflation, global economic stability and interest rates.

Please note that the dirham is a non-convertible currency, which means that you cannot buy dirhams in Italy as it is forbidden to take them out and move them outside Morocco. This means that the exchange of dirhams into another currency is very restricted.


Amount of money to send 100€ 100€
Rate of exchange 1€ = 10,38 MAD 1€ = 9,82 MAD
Taxes 5€ 28€
Sending method bank deposit bank deposit
Cash paid 105€ 128€
Amount received in MAD 1038 MAD 982 MAD


3. Collection of the money in Morocco

If you decide to send money through a remittance company, once the issuer from Spain makes the transfer, the recipient will receive a transaction code from the issuer. To collect money in Morocco, you will only have to go to the nearest collaborating agency, show the code, identity card and withdraw the money. If the transfer is made by deposit, you will receive it directly in your account.


– Cash collection

With this option, you will be able to collect the money as soon as the transfer is completed at any of the collaborating offices and banks in Morocco. In the case of Moneytrans you have all these options.

Recommended! It is important to know that, except in hotels, large supermarkets or international boutiques, payment by card is not yet very developed, and most devices usually have connection problems, making the operation sometimes impossible.


– Bank Transfer / Bank Deposit

This service is used to send money to an account in Morocco, and the funds will be available within 1 to 2 working days. This transfer is made through a network of payers in the country of destination as: La Poste – Al Barid Bank, Wafacash, Cash Plus, BMCE Bank, Banque Populaire or Barid Cash.


4. Remittance Agencies VS Bank Transfers

The big difference between remittances and bank transfers is that remittances are made in real time, instantly, and moreover, they are within the reach of all those who do not have a bank account open.


– To do it through agencies:

Access. One of the great advantages is that being a client is totally free and quite fast. You only need to provide a valid identification document and confirm beneficiary and the agency will send your money to Morocco.

Sending time. The money is available in Morocco between 15 minutes and 48 hours from the moment the transfer is made. This is a great added value.

Cost. Money transfer agencies offer better exchange rates and lower fees than banks, so your recipient receives more money and you pay less money.


– To do it through banks:

Making transfers through banks are highly recommended for sending money within the same country or even in the Euro zone, but for sending to foreign countries like Morocco, it is not advisable to send small amounts of money, as the cost is very high: 12 euros fixed commission, 0.20% for currency exchange and about 0.40% for other expenses. It is not profitable.


5. What I should know if I transfer money

The really important thing you should know is that the company you are transfering money with complies with all security and confidentiality requirements, and that its partners in the country of origin or destination are equally reliable. To send money to Morocco online safely you must know this.

What you should also know is that the price of your remittance will always depend on the commissions and fees, and that the latter always vary according to the market and the amount you want to send.

We recommend that if you want to make a transfer to Morocco knowing the total costs and not to have any surprises, you should use a real rate simulation calculator and you will have very clear what final price you will pay and what money your recipient will receive.


Picture of Mary Martin

Mary Martin

Mary Martin is an economist specialising in financial education, Fintech and remittances. She has been bringing finance to migrants for over a decade.

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