Nestled in the northwest corner of Africa is the Kingdom of Morocco, a nation which spans 446,550 km² and has a population of 37.1 million people. The country’s major city and maritime trading port is Casablanca, known as the commercial and industrial centrepoint.
Dirham is the legal tender used across Morocco and has been the official currency since 1882. Despite a brief changeover to the Moroccan franc in the early 1900’s, the nation reintroduced dirham in 1960, following the end of Morocco’s protectorate from France; although the Franc continued to circulate until the mid 1970’s. Moroccan dirham – MAD – is issued by The Central Bank of Morocco, the Bank Al-Maghrib.
According to research conducted in 2021, on a global scale Morocco appears to have the lowest percentage of population with access to banking institutions. This is important data which should influence the choice of money transfer provider customers use to send funds from Togo to Morocco.
When considering how to send money Morocco from Togo there are some key aspects of the transfer to consider.
The fastest provider is WorldRemit, transfers from this provider normally take [SPEED]. The cheapest provider we found is WorldRemit at % Above Mid-Market Rate.
If you’re looking for the best combination of price, speed, and reliability we recommend using WorldRemit when transferring XOF to MAD.
This means that by using WorldRemit for online money transfers to Morocco from Togo, you are likely to save on transfer fees and benefit from fast speeds – so your recipient will get more money and have it delivered in less time.
Alternatively, if you are unable to access WorldRemit for any reason, our comparison engine has found also to be very good options when sending XOF – MAD.
This recommendation was updated one minute ago.
In order to avoid high fees, you should consider the cheapest way to send from Togo to Morocco.
WorldRemit has been determined by our comparison engine to be currently offering you the cheapest rates possible.
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When sending money from Togo to Morocco, speed is one of the biggest factors you need to consider in terms of the service offered by different money transfer providers. Currently, WorldRemit is the fastest way to send XOF – MAD.
Most money transfer providers allow you to deposit and send money using various payment methods, but not all providers offer every option. Typically you’ll find the most common methods are bank transfers and card payments, but many providers also accept cash and some will even deliver funds straight to your recipient’s door.
To avoid high fees you can opt to use an online money transfer provider such as WorldRemit to pay for your transfer to Morocco.
With WorldRemit you can send money online to Morocco using your debit card. But before making a payment, make sure you understand all the processing fees in place.
Bank and wire transfers are the most common ways of sending money Morocco as they are secure, reliable, and convenient. However, they often come with the slowest delivery times in case speed is an important factor for you. You can use WorldRemit to send money using a bank or wire transfer at a great rate as long as you’re happy for your transfer to take 1-2 days.
When sending money to Morocco from Togo using bank account transfer you are paying for the outgoing fees, flat fees, currency exchange rate markup, and sometimes an additional incoming transfer fee.
If you want to make an international transfer using wire transfer, you will need to know the SWIFT/BIC code of your recipient in Morocco. If you’re unsure what it is, check out our SWIFT calculator to figure out the correct SWIFT code in Morocco.
On the other hand, you usually only pay a sender fee and a small exchange rate markup when using online money transfer services such as WorldRemit.
Before sending money to Morocco from Togo, you should consider the following:
This one’s easy. Simply use our comparison table above to find the best provider to send XOF to MAD. After that it’s just a process of making your transfer via the following steps:
Your recipient has a few methods available to receive your money in Morocco. These will vary between providers, but it is possible to find services that will:
If your recipient is going to collect or have the money delivered to them in Morocco, then they will usually need the following:
The amount of MAD you can receive from Togo will largely depend on the money transfer service you are using. There are providers that specialise in smaller remittance payments, and providers who specialise in larger transfers.
You should also check if there are any government regulations pertaining to the amount of MAD that can be received in Morocco or sent from Togo before making your transfer.