What’s the Cheapest Method to Send Money to Morocco?

Koutoubia mosque, Marrakech, Morocco

If you run an international business and have foreign partners, you know that sending money abroad is a key aspect of such partnerships. Do you, however, have a good idea about how much such services cost you?

Even opportunities that are advertised as commission-free can make you spend a lot of money on processing. Let’s assume that you have to send money to Morocco and you are searching for the cheapest way to do it. Banks and other money transfer companies have different policies when it comes to money transfers. Some of them will charge you an upfront fee while others have no such charges but will rely on really unfavorable currency exchange rates.

If you’re based in the US and use Travelex to send 1,000 dollars to a client in Morocco, you won’t pay any transfer taxes. Once you send the money, you’ll find out that there is a fee of 172 dollars because of the exchange rate. This is the fee that you pay for converting the money from one currency to another. The following tables cover all charges that you’ll pay for sending money to Morocco from different parts of the world and depending on the service you choose.

 
Transfer methodFees to send $1000 USDHidden conversion costTotal feesTime for the transfer to arrive
OFX (previously USForex)*$0$7.5$7.51-2 days
TransferWise$15$0$151-2 days
Xpress Money$19$18$373-5 days
WorldRemit$14$30$440-1 day
Al Ansari Exchange$20$24$441-3 days
Western Union (slow)$5$43$487 days
Ria Money Transfer (slow)$5$44$493-5 days
Ria Money Transfer (fast)$15$44$59In Minutes
Wire transfer$25-40$10-20$35-603-5 days
Skrill$29$40$693-5 days
Western Union (fast)$40$43$833-5 days
MoneyGram (slow)$50$36$863-5 days
Send Valu$28$71$993-5 days
MoneyGram (fast)$70$36$106In Minutes
Travelex$0$172$1723-5 days

Note:

  • Minimum transfer of $500 for OFX (previously USForex).

Table 2: Sending £1000 from the UK to Morocco

Transfer methodFees to send £1000 GBPHidden conversion costTotal feesTime for the transfer to arrive
UKForex*£0£7.5£7.51-2 days
TransferWise£15£0£151-2 days
Azimo£1£16£171-2 days
Western Union£3£20£23In Minutes
GlobalWebPay£5£36£411 day
Aftab Currency£21£22£433-5 days
Al Ansari Exchange£11£34£453-5 days
Xpress Money£6£43£493-5 days
WorldRemit£22£29£510-1 day
Small World FS£30£21£513-5 days
Wire transfer£15-25£10-30£25-553-5 days
Lycaremit£0£56£561-3 days
MoneyGram£30£31£61In Minutes
Skrill£26£40£663-5 days

Note:

  • Minimum transfer of £500 for UKForex.

Table 3: Sending $1000 from the Canada to Morocco

Transfer methodFees to send $1000 CADHidden conversion costTotal feesTime for the transfer to arrive
Canadian Forex*$0$7.5$7.51-2 days
TransferWise$15$0$151-2 days
Xpress Money$16$23$393-5 days
WorldRemit$14$31$450-1 day
Al Ansari Exchange$22$43$651-3 days
Skrill$29$40$693-5 days
Wire transfer$25-40$20-30$45-753-5 days
MoneyGram$50$29$79In Minutes
Western Union$40$46$86In Minutes
Travelex$0$166$1663-5 days

Note:

  • Minimum transfer of $500 for CanadianForex.

Table 4: Sending €1000 from the Western Europe to the Morocco

Transfer methodFees to send €1000 EURHidden conversion costTotal feesTime for the transfer to arrive
TransferWise€15€0€151-2 days
Azimo€3€22€251-3 days
Western Union€0€30€301-3 days
Small World FS€0€32€323-5 days
MoneyGram€23€24€47In Minutes
Xpress Money€30€19€493-5 days
WorldRemit€22€29€510-1 day
Aftab Currency€26€26€523-5 days
Al Ansari Exchange€15€37€523-5 days
Skrill€29€40€693-5 days
Wire transfer€20-35€20-40€40-753-5 days
Send Valu€28€59€873-5 days
Exact Change€0€169€1691-3 days
Travelex€0€215€2153-5 days

Table 5: Sending $1000 from the Australia to Morocco

Transfer methodFees to send $1000 AUDHidden conversion costTotal feesTime for the transfer to arrive
OFX (previously OzForex)*$0$7.5$7.51-2 days
TransferWise$15$0$151-2 days
WorldRemit$14$32$460-1 day
Western Union$10$37$471-3 days
Xpress Money$22$31$533-5 days
Al Ansari Exchange$23$37$603-5 days
Skrill$29$40$693-5 days
MoneyGram$25$55$80In Minutes
Wire transfer$25-35$30-60$55-953-5 days
Travel Money Oz$0$208$2083-5 days

Note:

  • Minimum transfer of $500 for OFX (previously OzForex).

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