Convertible accounts in Morocco

If you are bringing cash for your initial deposit, you will have to declare it upon arrival.  This is also for your own protection if you ever decide to transfer the money back to Australia.  Moroccans are limited to how much foreign currency they can take outside Morocco per year.
If your Fiancee is Moroccan, he can't be a co-holder on the account, only foreigners can open a convertible account.
I opened a convertible account without any deposits and when I returned to the US, I transferred US dollars to my convertible account.  The US dollars were converted to MAD upon arrival.
When I am in Morocco, I use my credit card for all my purchases where accepted and I use my ATM card to get cash.  You'll get the highest exchange rate than taking your cash to the bank for exchange.
I hope this helps

Ramzi

I brought $5,000 usd with me. Opened a convertible account with it. I did not declare it when I arrived. I still have my US bank account and my direct deposits  go in it and I use a debit card for cash. I also deposit in my Moroccan account , either by bank transfer or cash from atm.

Where is the problem ?
You can't withdraw your money with you credit card or what ?

I think you can deposit with card if you have visa or maater card  , and for if we have here dollar Australian I think also we have cause I was working in hotel five star before
By the way I will ask for you , and welcome

ramko61
Thanks for your helpful reply.
When I declare the amount coming into Morocco (regardless of the amount) do I get some sort of paper stating I declared the money?

I am hoping after I get residency my other half and I can get a joint account but the convertible account will have to do for now.

Thanks Cathylesher that sounds easy enough to do.

Hi,

I am advising you to take a neobank with fees neither commitment. I know a french website which gives you all information : connectbanque.com/fr/neobanques : Google can translate you the website


Regards.