Understanding the payment options available is crucial for visitors to Morocco, whether for tourism or business reasons. This understanding not only ensures the convenience and security of financial transactions, but also contributes to a more pleasant and hassle-free travel experience.
Currency and exchange in Morocco:
Currency and exchange are fundamental aspects to understand for any visitor to Morocco. Here is some key information on currency and exchange options in this country:
Local currency
- Name: Moroccan dirham (MAD).
- Subdivision: 1 Dirham = 100 centimes.
- Bills and Coins: Available in several denominations to facilitate daily transactions.
Currency Exchange
- Bureaux de Change: Available in airports, major cities and tourist areas. They generally offer competitive exchange rates.
- Banks: Offer currency exchange services and are considered safe and reliable options. Opening hours may vary, but they are generally open from Monday to Friday.
- Tip: Compare exchange rates at different locations to get the best deal.
Cash withdrawals from Automated Teller Machines (ATMs)
- Availability: ATMs are widely available in cities and major tourist destinations.
- Cards accepted : Most accept Visa and MasterCard. Withdrawal fees depend on your bank and ATM operator.
- Security tip: Use ATMs located in banks or supervised areas for security reasons.
Card payments
- Acceptance: Credit cards are widely accepted in major cities and tourist resorts. However, in rural areas and small shops, cash is still king.
- Transaction fees: Check with your bank about potential fees for international transactions.
Where and how to change your money:
Changing your money in Morocco is an important step to ensure smooth transactions during your stay. Here’s how and where you can do it:
1. Airports
- Location: bureaux de change are generally located in the arrival and departure areas of Morocco’s international airports, such as Casablanca’s Mohammed V airport, Marrakech-Ménara airport, and others.
- Advantage: Convenient to get dirhams as soon as you arrive.
- Tip: Only change a small amount at the airport, as rates may be less favorable.
2. Bureaux de Change
- Location: Common in large cities and tourist areas.
- Advantage: Often offer competitive exchange rates.
- Identification: Make sure these are official exchange offices to avoid scams.
3. Banks
- Location: Available in most cities and large urban areas.
- Opening hours: Typically open from Monday to Friday, but opening hours may vary.
- Reliability: Banks are generally the safest way to exchange money.
4. Hotels
- Service: Some hotels offer currency exchange services for their guests.
- Exchange rates: May not be the most advantageous, but offer convenience.
5. Automated Teller Machines (ATMs)
- Dirham withdrawals: ATMs accept international cards and dispense dirhams.
- Fees: Check withdrawal fees with your bank.
How to Change Your Money
- Compare rates: Take the time to compare exchange rates to find the best deal.
- Check the Exchange Limit: Some places may have a limit on the amount you can exchange.
- Keep receipts: Keep your exchange receipts, especially if you need to convert dirhams back into your home currency before you leave.
- Use strong currencies: The Euro, US Dollar and British Pound are the easiest to exchange in Morocco.
International credit/debit cards:
Acceptance of international credit and debit cards in Morocco varies by location, but here are some key points to keep in mind:
1. Urban and tourist zones
- In major cities such as Casablanca, Marrakech, Fez and Rabat, as well as in tourist areas, international credit and debit cards are generally well accepted.
- Hotels, high-end restaurants, department stores and some retail outlets accept cards, especially those from major brands such as Visa, MasterCard and sometimes American Express.
2. Small businesses and rural areas
- Small shops, local markets and rural areas may not accept credit or debit cards, preferring cash payments.
- It is always advisable to carry a certain amount of Moroccan dirhams, especially when traveling outside the major cities.
3. Automated Teller Machines (ATMs)
- ATMs are widely available in towns and tourist areas. They accept most international cards and are a convenient way to obtain dirhams.
- Before traveling, check with your bank that your card is compatible with Moroccan ATMs, and find out about transaction fees abroad.
4. Fees and limits
- Card transactions may involve additional charges, including international transaction fees and exchange rates.
- Some banks may also impose foreign withdrawal or payment limits.
5. Transaction security
- Be vigilant when using your card to prevent fraud and data theft.
- Use ATMs located in secure areas, such as banks or major hotels.
6. Notification to your bank
- Inform your bank of your travel plans to Morocco to avoid your foreign transactions being flagged as suspicious, which could block your card.
Benefits of digital payments for tourists and expatriates:
The use of digital payments offers several advantages for tourists and expatriates in Morocco, particularly in a context where the digitization of financial transactions is gaining ground worldwide. Here are just some of the benefits:
1. Safety and Protection
- Reduced risk of theft: Carrying less cash reduces the risk of theft or loss of money.
- Secure transactions: Digital payments often offer additional security measures, such as two-factor authentication.
2. Convenience and ease of use
- Ease of Transactions: Digital payments make transactions quick and easy, often with just a smartphone.
- No need to exchange money: Avoid the hassle of exchanging currencies and finding exchange offices.
3. Expense tracking
- Budget management: Digital payment applications often enable you to track and manage expenses in real time.
- Transaction History: Helps maintain a clear record of expenses for budgeting or accounting purposes.
4. Accessibility and growing acceptance
- Growing network : Morocco is seeing an increase in businesses and services accepting digital payments.
- International compatibility: Some digital payment applications and services are widely accepted and can be used abroad without any problems.
5. Avoid high transaction costs
- Lower currency conversion costs: Digital payments can offer lower conversion rates than traditional banks or bureaux de change.
- Reduced transaction fees: Some digital payment methods have lower fees than international credit/debit cards.
6. Adaptability and flexibility
- Diversity of Options: Choice of several digital payment methods (PayPal, Apple Pay, Google Pay, etc.).
- Multiple transactions: Useful for recurring payments or subscriptions.
For tourists and expatriates, digital payments offer a convenient and secure alternative to traditional payment methods. With the rise of the digital economy in Morocco, these methods are becoming increasingly accessible and can greatly facilitate financial management during a stay.