Opening a bank account in Africa from abroad, receiving money, saving or preparing an investment: the needs of the French-speaking diaspora have become largely digitalized. Mobile money — Wave, Orange Money, MTN MoMo, Moov Money — has established itself as the fastest gateway, while banks are multiplying offers dedicated to “nationals living abroad.” This guide brings together, country by country, the leading banks, mobile money solutions, real fees and steps to open an account remotely in 2026.
Our country-by-country guides
- Opening a bank account in Morocco: 2026 guide
- Opening a bank account in Tunisia: 2026 guide
- Opening a bank account in Algeria: 2026 guide
- Opening a bank account in Senegal: 2026 guide
- Opening a bank account in Côte d’Ivoire: 2026 guide
- Opening a bank account in Cameroun: 2026 guide
Banks and mobile money: the overview
| Country | Leading banks | Mobile money / fintech | Special features for the diaspora |
|---|---|---|---|
| Maroc | Attijariwafa Bank, Banque Populaire, Bank of Africa, CIH | M-Wallets (Wafa Pay, BP Pay), neobank Simple | Convertible dirham account, 100% online opening |
| Tunisie | BIAT, Attijari Bank, BNA, Amen Bank | TUNPAY (emerging) | Exchange controls, convertible dinar account |
| Algérie | BNA, BEA, CPA, BADR (public) | None (no mobile money) | Non-convertible dinar, gap between official/parallel exchange rate |
| Sénégal | SGBS, Ecobank, UBA, BOA | Wave, Orange Money, Free Money | Wave: free deposits and withdrawals, transfers at 1% |
| Côte d’Ivoire | SIB, Ecobank, BNI, BOA | Wave, Orange Money, MTN MoMo, Moov Money | 1st mobile money market in UEMOA |
| Cameroun | Afriland First Bank, UBA, Ecobank, BICEC | MTN MoMo, Orange Money | Structured UBA Diaspora Account, free mobile money reception |
What to know before opening an account
- Mobile money first: in CFA zone countries, a Wave, Orange Money or MTN MoMo wallet can be created in a few minutes and is sufficient for receiving money. Reception is generally free.
- Bank account for projects: mortgage credit, interest-bearing savings or high limits require a real account, often openable remotely through a partner bank in Europe.
- Exchange controls: in the Maghreb (Maroc, Tunisie, Algérie), a “convertible” or “foreign currency” account is the key to freely repatriating funds.
- Limits and KYC: an unverified mobile money account is capped (150 000 to 200 000 FCFA/month depending on the country); providing an identity document removes the cap.
The information in this article is provided for informational purposes only and does not constitute financial, legal or tax advice. Please verify conditions, fees and limits with banks, operators and regulators before taking any action.
FAQ
Can you open a bank account in Africa without travelling there?
It depends on the country and the bank. In Maroc (Attijariwafa, CIH, Bank of Africa), in Tunisie (BIAT, Amen, Wifak) and in Côte d’Ivoire (SIB via Attijariwafa Bank Europe), remote opening is possible. In Algérie and Cameroun, the final signature is most often done in branch. Mobile money remains the immediate alternative everywhere.
Mobile money or bank account: which should you choose?
Mobile money is sufficient for receiving and transferring money on a daily basis, with low fees (0 to 1%). A bank account becomes necessary for savings, mortgage credit, high limits or holding foreign currencies.
Why is a “convertible account” mentioned in the Maghreb?
In Maroc, Tunisie and Algérie, currencies are not freely convertible. The convertible dirham/dinar account (or foreign currency account) is the only one that allows funds to be freely repatriated abroad. An ordinary account, funded by local income, does not permit this.
Also read: The real price of mobile data in Africa — ranking of 53 countries.
