A Moroccan living abroad can open several types of account in Morocco, and the choice is not a trivial one. The convertible dirham account is funded exclusively in foreign currency and allows the funds to be transferred back abroad. The foreign currency account keeps the money in its original currency. The ordinary dirham account, on the other hand, does not allow funds to be transferred back freely.
That is the central rule to remember: convertibility is acquired when the funds come in, not when they go out. Capital paid into an ordinary account loses the possibility of being freely repatriated, and no later procedure can recover it.
Documents required
- Moroccan CNIE or passportValid
- Residence permit or resident’s cardFrom your country of residence - this is what attests to your MRE status
- Proof of address abroadA recent bill or an attestation
- Proof of incomePayslips, tax assessment or an employer’s letter
- Specimen signatureSigned at the branch, or legalised at the consulate for a remote opening
The procedure, step by step
- Choose the type of account
Convertible if you plan to invest and then repatriate; foreign currency if you want to avoid exchange rate risk.
- Compare the real terms
Account maintenance fees, cost of international transfers, exchange rate applied, online access from abroad.
- Put the file together
Moroccan banks always ask for proof of residence abroad.
- Sign and activate
At the branch during a stay, or remotely via the consulate for the signature legalisation.
Pitfalls to avoid
- Opening an ordinary dirham account and then wanting to repatriate your savings - convertibility cannot be recovered after the event.
- Paying cash in dirhams into a convertible account: it loses its status.
- Not keeping the foreign currency transfer advices, the only proof of the origin of the funds on the day you repatriate them.
- Comparing banks on account maintenance fees alone, ignoring the exchange rate applied to transfers - that is often where the real cost lies.
Frequently asked questions
Can an account be opened without travelling?
Most of the large Moroccan banks offer remote opening for Moroccans living abroad, with the file sent in and the signature legalised at the consulate. Allow a few weeks more than for an opening at a branch.
Do I need a convertible account to buy a property?
It is not compulsory in order to buy, but it is decisive if you want to be able to repatriate the proceeds of a later sale. A purchase financed in properly declared foreign currency opens that right; a purchase in ordinary dirhams does not.
Can the account stay dormant?
Yes, but the maintenance fees keep running and an account left inactive for a long time may be closed by the bank. Check the terms before leaving an account dormant for several years.
Last updated: January 2026 · Indicative estimate - check with the relevant administration.