Morocco has more than 5 million Moroccans residing abroad (MRE), whose remittances to the Kingdom reached approximately 122 billion dirhams in 2025, a record according to Bank Al-Maghrib and the Office des Changes. To manage these flows, prepare a real estate purchase, or simply support their families, opening a bank account in Morocco from abroad has become a common practice — and one that is largely digitalized in 2026. This guide details the banks, required documents, how the convertible dirham account works, actual fees, and fintech and mobile alternatives.
Why open an account in Morocco when living abroad
A Moroccan bank account opens the door to several practical uses for an MRE:
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- Receive and transfer funds to Morocco at the best rate, particularly through a convertible dirham account funded from abroad;
- Pay local expenses (family, bills, real estate) in dirhams without going through cash transfer networks;
- Prepare a real estate investment: banks grant home loans to MREs, in dirhams, with a foreign currency down payment;
- Freely repatriate funds originating from abroad, a right guaranteed by the convertible dirham account.
The main banks and their strengths
Attijariwafa Bank — the leader with a 100% online process
Attijariwafa Bank targets “Moroccans of the World” (MDM) through its Pack Elan range, opened directly from the Attijari Mobile app. The packs start at 5 MAD VAT included per month (Elan 18-25 Gold), then 9, 29 and 39 MAD VAT included depending on the tier (Gold, Platinum, Signature), with an MDM checking account in dirhams and a Visa card usable in Morocco and internationally. The bank relies on a European network (Attijariwafa Bank Europe, around thirty branches) and on Wafacash for proximity operations in Morocco. In 2026, it also launched Simple, presented as the first Moroccan neobank, with a free plan and account aggregation.
Banque Populaire (Groupe BCP) — the historic bank for MREs
Banque Populaire remains the reference for Moroccans of the world: it claims approximately 41% market share of incoming MRE transfers. Its European subsidiary Chaabi Bank (branches in France, Belgium, Italy, the Netherlands and Germany) allows accounts to be opened and managed from the country of residence. Its Pack Bladi offer (approximately 200 MAD per year) combines a multi-currency account, an international card and access to the Chaabi Net / Pocket Bank apps. On the transfers side, the Bladi Compte wire transfer remains free up to 1,000 euros per transaction in standard mode (funds available within three business days).
Bank of Africa (formerly BMCE) — remote account opening by video conference
Bank of Africa offers a 100% remote account opening process in four steps: online application, confirmation by video conference, electronic signature, then delivery of the card abroad. Its MRE packs are competitive: the Blue Pack is free for the first 12 months (then 16.5 DH VAT included/month), the First Pack is free for 6 months (then 38.5 DH VAT included/month) and includes an international Visa First card, free everyday transactions in Morocco, and up to six free annual accesses to 29 airport lounges. The account can be held in dirhams or convertible dirhams, with card delivery to the address of residence (88 DH VAT included).
CIH Bank — the free digital bank for MREs
With its CODE 212 offer, CIH Bank allows accounts to be opened 100% online and promises lifetime free account maintenance fees and bank card. The customer has a checking account in dirhams and an interest-bearing convertible dirham account, linked to a single international card (DUO card). Outside this offer, CIH’s 2025 pricing shows 30 DH per quarter for an MRE account and 35 DH per quarter for a convertible dirham or foreign currency account. The CIH Mobile app, very highly rated, offers 24/7 instant transfers and a Mastercard virtual card.
Steps for a non-resident / MRE
Documents to prepare
To open an account from abroad, banks generally require:
- A Moroccan national identity card (CIN) or a valid passport;
- A proof of address abroad less than 3 months old (electricity bill, rent receipt, lease agreement);
- An identity document from the country of residence (residence permit, residency card or local passport);
- Proof of income (last 3 pay slips or employment contract);
- The consular registration card or proof of MRE status, issued free of charge by the consulate;
- The IBAN of the foreign bank account for incoming transfers.
Remote account opening is possible through the European subsidiaries of Moroccan banks (Chaabi Bank, Attijariwafa Bank Europe, BMCE Bank International), or online via apps (Attijari Mobile, CIH Mobile, Bank of Africa process), with processing times of 7 to 15 business days depending on the institution.
The convertible dirham account, the key to repatriation
The dirham is not freely convertible: foreign exchange regulations, managed by the Office des Changes, distinguish between ordinary accounts and accounts reserved for non-residents. Article 228 of the regulations authorizes banks to open, in the name of Moroccans residing abroad and non-resident foreigners, foreign currency accounts and convertible dirham accounts. In practice:
- Convertible dirham account (CCDC): denominated in MAD, funded exclusively by foreign currencies converted at the Bank Al-Maghrib rate. Credited amounts can be withdrawn, used in Morocco, or reconverted and transferred abroad without any limitation or prior authorization.
- Foreign currency account (CCED): held directly in euros, dollars, pounds sterling or other currencies, to preserve savings without exchange rate risk.
This mechanism guarantees the right to repatriate funds transferred from abroad — the central argument for choosing an MRE account over an ordinary account.
Fintech alternatives, neobanks and mobile payments
Beyond traditional banks, the Moroccan ecosystem has become strongly digitalized. Bank Al-Maghrib recorded more than 8 million mobile wallets (M-Wallets) at the end of 2025, up 42% year-on-year. A distinction is made between:
- Banking M-Wallets: Wafa Pay (Attijariwafa), BP Pay (Banque Populaire) and CIH Mobile, backed by a current account and opened free of charge.
- Payment institution wallets: Orange Money and Inwi Money (telecom operators), Cash Plus, Wafacash and Barid Cash, functioning as standalone payment accounts, with a top-up limit of 20,000 DH per month.
- MarocPay interoperability: a national QR code allows payment at any affiliated merchant, regardless of the wallet issuer.
- Transfer fintechs: Wise, Revolut or Remitly apply the interbank rate with low fees (approximately 8 to 10 € for a transfer of 1,000 € with Wise), often more advantageous than a classic SWIFT transfer (15 to 40 € in fees plus an exchange rate margin).
- Neobanks: Simple (Attijariwafa) offers a free “Go” plan with account aggregation, while Damane Cash (BCP subsidiary launched in 2025) targets transfers with fees of approximately 0.5%.
Fees to expect
Fees vary considerably depending on the bank, the type of account (ordinary dirhams, convertible dirhams or foreign currency) and the chosen offer. As a rough guide, maintaining a standard checking account costs on average approximately 238 DH per year in Morocco, but MRE accounts and online offers are significantly cheaper, or even free.
| Bank / solution | Strengths | Indicative fees |
|---|---|---|
| Attijariwafa Bank — Pack Elan (MDM) | 100% online account opening, network in Europe | From 5 MAD VAT included/month; MRE maintenance ~10 MAD/month |
| Banque Populaire — Pack Bladi / Chaabi | MRE transfer leader (~41%), branches in Europe | ~200 MAD/year; Bladi Compte transfers free ≤ 1,000 € |
| Bank of Africa — MRE Packs | Remote account opening + video conference | Blue Pack: 0 DH for 12 months then 16.5 DH/month; First Pack: 0 DH for 6 months then 38.5 DH/month |
| CIH Bank — CODE 212 | Lifetime free account maintenance + card | 0 DH (offer); otherwise MRE account 30 DH/quarter |
| Al Barid Bank (Barid Bank) | Largest network (~2,400 branches) | Garant account: free maintenance |
| M-Wallets (Wafa Pay, BP Pay, CIH Mobile, Orange Money, Inwi Money) | Mobile payment, ~8 M wallets | Opening and maintenance 0 DH; limit 20,000 DH/month |
| Transfer fintechs (Wise, Remitly) | Interbank rate, low fees | ~8-10 € for 1,000 € (Wise); Remitly: 0 € + ~1% margin |
Risks and points to watch out for
- Foreign exchange controls: an ordinary dirham account does not allow the free repatriation of funds of Moroccan origin; opt for a convertible dirham account.
- Hidden exchange rate fees: compare the amount actually received in dirhams (fees plus exchange rate margin), not just the displayed fees.
- Processing times and card delivery: the card and bank details are sometimes sent by post abroad (allow several business days).
- Required documents: without a consular card or proof of residence abroad less than 3 months old, opening an MRE account may be refused.
- Security: enable two-factor authentication and SMS alerts on banking apps, as recommended by the authorities in response to fraud attempts and data breaches reported in 2026.
FAQ
What documents are needed to open an MRE account from abroad?
A valid Moroccan CIN or passport, proof of address abroad less than 3 months old, an identity document from the country of residence, proof of income (last 3 pay slips or employment contract) and, often, the consular registration card. Some banks open the account 100% online with only a CIN and proof of address.
Can I freely repatriate my money from Morocco?
Yes, if your funds originate from abroad and go through a convertible dirham account or a foreign currency account: the amounts can then be reconverted and transferred abroad without any limitation or authorization from the Office des Changes. An ordinary dirham account, funded by local income, does not offer this right.
Can an account be opened without travelling to Morocco?
Yes. Attijariwafa Bank (Attijari Mobile), CIH Bank (CODE 212) and Bank of Africa (online process with video conference) allow 100% remote account opening. The European subsidiaries of Moroccan banks (Chaabi Bank, Attijariwafa Bank Europe, BMCE Bank International) also offer account opening from the country of residence, with a processing time of 7 to 15 business days.
Also read: Our complete guide to banks and fintechs in Africa, country by country (2026).
