Receiving MAD in the UK


#1

I have a Revolut MAD account , it appears to be at Lloyds, it has a IBAN.
Can someone from Morocco with a account in MAD send MAD to that account?

Thank you


#2

Hey hml567. Yes they can but be cautious of 3rd party fees as the transfer will be an international SWIFT transfer since Lloyds is based in the UK.


#3

I don’t understand how Lloyds in UK actually can hold a MAD account, given that the account is in the UK, and the MAD is not 100% convertible.
I have an account in Morocco and I’m having trouble convincing the branch there that a SWIFT MAD to MAD is possible.
In Morocco, there are limits as to how you can send overseas in terms of foreign currency, per individual passport imposed by the “Office des Changes” www.oc.gov.ma.
I assume this trannsfer, ultimately, fits in this category, as I will be able to exchange MAD to some other currency via Revolut app.

Who can give more details about the llyoyds MAD account?


#4

I’m also interested in the answer to this. I’m a UK citizen and work freelance. I have a number of clients in Morocco and waiting to get paid is always a hassle. I’m wondering if it is easier or quicker for me to receive my invoices through my MAD Revolut account instead of using my normal Lloyds bank details (which from experience can take anything up to 4-6 weeks!). I know there’s likely to be a hit on the transfer fees but I expect that. Would it be quicker this way?