Moroccan dirham MAD transfer

could you please add MAD transfer

we have the ability to have MAD wallet and to exchange it but it’s not possible to transfer MAD to moroccan accounts

thanks

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Wise is already doing it

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Thank you sharing that feedback with us @achraf. Stay tuned. :hugs:

SG | Community Team

you are already doing MAD card transfer, it’s not working with all the banks, target immigrant people from Maghreb region, Morocco Algeria and Tunisia,

it count for millions of people living in Europe and sending money back home,

im using wise for transferring MAD, i would like to centralize all my money with revolut as I can already make the transfer and hold MAD

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Would be a nice addition but it is already possible to transfer money to Morocco. Last summer I was able to transfer from my EUR wallet a few times to a Moroccan bank account which took 2 days to arrive.

And depending on the day (during weekdays) and your plan it could be cheaper then traditional banks to send money this way.

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it’s possible to make EUR transfer but you have two, sometime you get intermediary bank fees, also you also not benefiting from Fx capabilities of Revolut,

you can already transfer MAD to a card but for high amount, you are stuck with the fees,

MAD transfer like Wise would be good but revolut need to be creative

what would be a creative feature, Instant MAD to transfer to moroccan account or at least instant transfer to moroccan wallet (maroc pay)

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To be honest I am afraid that it is not that easy to implement since Morocco is not in the SEPA region and is also outside Europe which adds more compliance rules and limitations. Of course at some point it might be possible to speed this process up but I doubt it if Revolut will place this high on their priority list.

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no need for sepa, actually SEPA it’s only for EUR,

For instant transfer in morocco, There is a way in FI world, revolut need to open an intra day account in MAD with a moroccan bank to proceed the payment, a small IT stuff need to be done, an API with revolut linked to the moroccan bank to manage the payment flow from the app, it’s not rocketscience

For payment to moroccan Wallet, if western union and moneygram is already doing it, they should be able to do too

at least the priority is to add Moroccan dirhams on wire transfer like Wise

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No I understand, but Revolut has a lot of ongoing stuff that’s what I meant.

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I tried transferring MAD from Revolut to my Visa from Banque populaire but the transaction fails. Does anyone knows why?

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Also it looks like it’s now possible to send MAD to a Moroccan bank account. Did anyone try this? If so, is this a SWIFT transfer or a local bank transfer in Morocco, like what Wise does?

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Welcome back to our community @Anouar :wave:. Sorry to hear that your transfer had failed. Kindly contact us through in-app chat so that we can check it thoroughly. :pray:

SG | Community Team

I did one to CIH, works perfectly, send it on tuesday 13feb 6:15 CET time, received on 14feb at noon

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That’s great to hear! Were there any intermediary fees, or the MAD amount display in Revolut was the same you received in your account?

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no intermediary fees, you receive the same amount, transfer fee is around 11dhs fix, exchange rates is bit below the market rate, around 4% discount, i would appreciate if they are more competitive, but still the best solution for the sending money to a moroccan bank account,

on revolut side, the transfer was in pending from 13feb until 17feb (today), i just received a notification of transfer done even do i already receive it, probably they still testing the feature before going totally live,

on CIH side, I got display MOBILE FINANCIAL SERV, would better to see the name of the sender

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It looks like this was a local bank transfer in Morocco, which is great, hence why the quick time to receive the money and no intermediary fees. (Similar to Wise and other providers)

Thanks for sharing your experience!

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Thank you so much for sharing your experiences with us @achraf @Anouar. It will help our other users. :star_struck:

SG | Community Team