禁漫天堂

I think Your money must pass to the exchange office

And if the amount is less than 45000DH you can take it out from the bank and transfer it to your currency at the exchange office and take it with you outside the country

The exchange office take 20% from the amount

First I send condolences for the loss of your Father.
I suggest you talk to your bank. Then you will have all the up to date information.

Adam rachak wrote:

I think Your money must pass to the exchange office

Do I need to be physically present in Morocco to do that? I can't go to Morocco because Belgium is currently "blacklisted" with regards to Corona.

I don't understand why the insurance company (RMA Assistance) don't just accept a normal "convertible" bank account?

Cathylesher wrote:

First I send condolences for the loss of your Father.
I suggest you talk to your bank. Then you will have all the up to date information.

Thank you for your condolences.

I don't think my domestic bank can do anything about it.
It's the Moroccan insurance company requiring a "non-convertible" Moroccan bank account which I don't really understand. Why not just accept a "convertible" bank account so that I can easily transfer the money in Moroccan dirham to my Belgian bank account in euro?

Can I create both a "convertible" and a "non-convertible" bank account at the same time but at different Moroccan banks and then just transfer the amount from the "non-convertible" to the "convertible" one and then onwards to my Belgian bank account?

Morocco does not allow the exit of money easily, especially if it is a lot of money
And it takes a large percentage of it

If it were easy, many people and I would have invested all our money in other country

For this reason, the money is not allowed out easily, because that will negatively affect the economy

But you have to be here to do creat convertible bank account

Adam rachak wrote:

Morocco does not allow the exit of money easily, especially if it is a lot of money
And it takes a large percentage of it

If it were easy, many people and I would have invested all our money in other country

For this reason, the money is not allowed out easily, because that will negatively affect the economy

It's about 30k MAD.

That doesn't sound logical. The result of that restriction is that foreign investors are less likely to do business in Morocco which I would think is detrimental for a country's economy.

Adam rachak wrote:

But you have to be here to do creat convertible bank account

There's a "Attijariwafa bank" here where I live. Could I create a convertible and non-convertible bank account there?

EDIT: Or the convertible at "Attijariwafa bank" and the non-convertible at CIH for example?

Money transfer taxes for foreigners are much lower and they can take out more than 30% of their money
In addition, many foreigners do not want to take out the money.聽 They only invest in order to get the money to spend when they come on vacation in Morocco, because it is the perfect country for recreation

I tried to do this once, but they started the process of creat up a bank account and then told me that it is necessary for you to be in the bank you want to open The account in it聽 聽to give the national card in order to complete the process, but the matter may be different for foreigners

Sorry to heard about you dad, about the money maby ways to take money.

Adam rachak wrote:

I tried to do this once, but they started the process of creat up a bank account and then told me that it is necessary for you to be in the bank you want to open The account in it聽 聽to give the national card in order to complete the process, but the matter may be different for foreigners

I have a "carte nationale" as I mentioned in my post. There's an "Attijari Wafa" bank here in my country. Will they be able to create both a non-convertible bank account and a regular account so I that I can transfer the 30k MAD from my non-convertible account to my regular account (both at "Attijari Wafa" bank) and then onwards to my Belgian BNP Paribas account?

What a backward rule. That the refund is in MAD I understand but to demand a bank account that specifically doesn't allow an international transfer is beyond retarded, especially considering that the insurance company (RMA Assistance International) exclusively has international clients.

My condolence. Just go to the AttijariWafa bank in Belgium and ask if it can be done.

Yahya411 wrote:

My condolence. Just go to the AttijariWafa bank in Belgium and ask if it can be done.

Thank you.

I asked them and they said the insurance company can't pay me out in euro because it's "Moroccan law".
Is this true?
The banker also told me I can't have both a non-convertible and a convertible bank account at the same time and that I can't transfer dirhams to euros?

The banking laws in Morocco are no dirhams can be transferred out of Morocco if the account is a non convertible. I have both accounts and any money I get from the US I put in the convertible account. I can take any money in or out of convertible聽 account, but if I put it into the non convertible account or let鈥檚 say I get a check (payable in dirhams) it has to be put in the non convertible account they will not allow me to take it from there and put it back into the convertible account.

You may have to dig a little deeper into this company to find out the what they are willing to do or not do. I have an educational account with RMA and the goal is to keep the money within the Moroccan economy.

Yes you can. That鈥檚 why it鈥檚 called 鈥淐ompte 脡trange Convertible鈥�. Make sure the address registered at the bank is your address abroad (in my case New York City).
The best bank to handle international transaction is Attijariwafa.
Do Not go to other banks.

Guys, i'm Moroccan, i have a convertible Moroccan bank account, Can i transfer Money to abroad?
Thanks.

Hi all,

Anyone foreigner can open a Convertible Dh account which will only accept non MAD currency only. How if you have a residence card then you can also open a Moroccan Dh account as other members says you can register your overseas address which makes it easier for you to transfer money abroad. However, you can only transfer money abroad to the amount or non Moroccan Dh (other currencies) you have brought into the country. Any Dh paid wiles in Morocco or generated wiles working and living in Morocco that has not been transferred into Morocco from overseas can still be requested to send out based on justification. expat only, 10% per year can be transferred out unless real justification is shown. The banks will put the request in with central bank of morocco who will then accept or deny. As long as you have brought in other curried via wire transfer to your convertible account and your sending less that the amount you have brought in will usually be accepted. There are ways to do this but non many bankers will explain the rules correctly. Thankfully I have great experience in this should you require any assistance. If you're living in Marrakech I can also recommend a good bank and banker that will give the right advise for anyone who moves their account to their branch. Any questions please feel free to DM or respond to this post.

You cannot put money from Morocco to your convertable account MAD.

Check with Attijariwafa and see if they have a bank in Belgium, as they are also in Europe. Through them, you could probably open an account in euro and use it for the transaction. Just a thought. Also the consulate could help you?

Better to use my own country bank account because too much bank charges even hidden charges and paid services, I had attijariwafa bank and CIH but I closed. Its take some time 20 days credit to my account if i sent money from outside Morocco. I should follow like I am following girl. I decided to use my own country bank account and withdraw by ATM or receive by weatern union.

dolle1980 wrote:

Better to use my own country bank account because too much bank charges even hidden charges and paid services, I had attijariwafa bank and CIH but I closed. Its take some time 20 days credit to my account if i sent money from outside Morocco. I should follow like I am following girl. I decided to use my own country bank account and withdraw by ATM or receive by weatern union.

It might depend on the foreign country bank. It takes Citibank New York 2 days maximum to transfer to Attijariwafa in Casablanca.

But days too much, China sent Rocket to space and come back still my account not credited, strange , i sent also from USA and takes 7 to 9 days some time. Better use western union and get immediate,聽 what is true i will tell true

dolle1980 wrote:

But days too much, China sent Rocket to space and come back still my account not credited, strange , i sent also from USA and takes 7 to 9 days some time. Better use western union and get immediate,聽 what is true i will tell true

Some foreigners need local bank account in Morocco. We have properties to maintain, pay direct-debit in water+electricity+Wifi, to pay our maid in advance, to pay property tax etc etc. Western Union alone would not work for these purposes.

Sending money form
Overseas you need to instruct the sending bank to send via express services

London to Morocco via lloyds commercial banking takes 24 hours subject to cut of times.

You can also open a currency account in Morocco and hold the currency without converting it within Morocco which also
Clears usually within 24 hours.

This currency can then be sent to convertible account very quickly or convert to DH if you have w resident Dh account. By holding the currency allows you to choose the best time for W better exchange rate.

There are many options fast easy and cheap to transaction to/from and within Morocco.

WesternUnion charges are usually the same fees depending on the size of transfer.

Other third party exchange companies also offer similar services.

Using your overseas card incurs 茅change rate fluctuation and also Commision payments to the local
Bank and overseas bank meaning you pay higher prices unless you have a package with your overseas banks.