So, you’ve planned your dream trip to Morocco. Flights are booked, your customized tour is set. As you pack your bags, you might wonder, “How do I handle money and payments in Morocco” This question is one of the most frequently asked by travelers who are going to Morocco, so here’s a comprehensive guide to help you navigate Moroccan currency with ease.
The official currency of Morocco is the dirham (MAD), sometimes abbreviated as “dh” in English. Moroccan banknotes feature the image of King Mohamed VI, reflecting the country’s monarchy. Before traveling to any new country, it’s essential to familiarize yourself with the local currency to ensure a smooth experience during your visit.
Whether you’re visiting bustling souks, dining in local restaurants, or exploring Morocco’s stunning landscapes, understanding the Moroccan dirham is key to a hassle-free vacation. This guide will cover everything from the currency’s denominations to the best ways to exchange and use money while traveling in Morocco. With a little preparation, you’ll find that Moroccan money is straightforward and easy to manage, making your journey even more enjoyable.
Moroccan Currency Basics
The Moroccan dirham (MAD) is the official currency of Morocco. While it may seem confusing at first, a bit of preparation will make handling Moroccan money easy and stress-free.
- Coins: Available in denominations of ½, 1, 2, 5, and 10 dirhams.
- Banknotes: Issued in 20, 50, 100, and 200 dirham denominations.
- Regional Terms: In some areas, centimes are called francs or pesetas. Traditional terms like “rials” or “reales” are also used (e.g., 20 rials = 1 dirham).
Moroccan dirham is a closed currency, which means it’s not widely available outside Morocco. You’ll need to exchange your money upon arrival to use it during your trip.
Why Small Change Matters
Small change is surprisingly scarce in Morocco. Vendors often rely on neighbors or passersby to break large bills. This situation highlights the importance of carrying smaller denominations whenever possible. Always keep coins and smaller bills handy for tips, taxis, and small purchases.
Can You Get Moroccan Dirhams Outside of Morocco?
In short, the answer is no. Moroccan Dirham is a closed currency, which means it is not readily available outside of Morocco. If you do manage to find an exchange facility abroad that offers dirhams, it will likely come at a high cost. It’s more practical to wait until you arrive in Morocco to exchange money or withdraw cash from an ATM, as these options provide better rates and convenience.
Another key point to remember is that since Moroccan dirham is a closed currency, it cannot be re-exchanged once you leave the country. Any unused dirhams will remain with you, so it’s important to plan your spending accordingly to avoid losing money.
How to Obtain Moroccan Dirham
When traveling to Morocco, having local currency (Moroccan dirhams) is essential for many transactions. Here’s how to manage your money efficiently and avoid common pitfalls during your visit.
Using ATMs in Morocco
ATMs are the most convenient and cost-effective way to get dirhams. They are widely available throughout the country and typically provide better exchange rates than currency exchange offices. Even with overseas withdrawal fees and ATM provider fees, withdrawing money from an ATM often saves you money compared to exchanging cash at airports or hotels.
To ensure a smooth experience:
- Avoid Airport ATMs: The exchange rates at airport ATMs are usually less favorable. Instead, ask your local guide or host to recommend an ATM outside the airport.
- Opt for Bank-Attached ATMs: Always use machines connected to banks. If the machine retains your card, you can retrieve it by presenting your passport at the bank. This is much faster than dealing with a free-standing ATM.
- Backup Plan: If one ATM doesn’t work or is out of cash, don’t panic. Banks are often clustered together, and you’ll likely find another ATM nearby.
ATMs in Morocco typically dispense 100 and 200 dirham notes. While these denominations are convenient, smaller bills are often needed for daily transactions, so try to break them at larger stores or your hotel.
Currency Of Morocco Exchange Options
Currency exchange is another option, but it comes with higher costs:
- Airport and Hotel Exchange Services: These are convenient but often offer unfavorable rates.
- Trusted Exchange Offices: For better rates, exchange money at reputable exchange offices recommended by your local host or guide.
Keep in mind that Moroccan exchange offices only accept clean and relatively new banknotes. Damaged or heavily worn bills might be declined.
Tips for get Moroccan currency
- ATMs in Morocco usually have an English language option, making them easy to use.
- Keep track of your spending and withdrawal limits to avoid surprises with your bank.
- It’s a good idea to carry a mix of cash and cards for flexibility during your trip.
Avoid Using Foreign Currencies
- USD and Euros are rarely accepted, except in airports or for large purchases like carpets or fine art. However, the exchange rates offered by sellers are often inflated.
Using Credit and Debit Cards in Morocco: What You Need to Know
Limited Card Acceptance
While cards are accepted at airports, high-end hotels, and some upscale restaurants, Morocco remains predominantly a cash-based society. Most local businesses, markets, and street vendors prefer cash transactions.
Even establishments that display Visa or Mastercard logos often claim their machines are “broken.” In reality, this is a tactic to avoid paying credit card processing fees. For this reason, it’s best to carry cash and consider card usage a bonus when it’s available.
Foreign Transaction Fees and ATM Limits
Before traveling, review your card issuer’s terms for foreign transaction and ATM withdrawal fees, which typically range between 2% and 3%. In Morocco, ATMs usually limit withdrawals to 2,000 MAD per transaction. If you need a larger sum, be prepared to make multiple withdrawals and potentially incur additional fees.
Best Practices for Card Use
When using your card, always choose to pay in the local currency (MAD) instead of your home currency. This helps you avoid Dynamic Currency Conversion (DCC), which often includes unfavorable exchange rates.
To enjoy a hassle-free trip, plan to rely on cash for most purchases while keeping your card handy for emergencies or major transactions at high-end establishments.
Fee-Free Options for U.S. Citizens
The Schwab Bank High Yield Investor Checking account is an excellent choice for avoiding foreign transaction fees and ATM provider fees. It also includes perks like fraud protection and travel assistance services, making it a valuable resource for frequent travelers.
What About Traveler’s Checks?
Traveler’s checks are not accepted in Morocco. They are outdated and inconvenient for this destination. Stick to cash and cards for your financial needs.
Currency Tips for Travelers from Different Countries
- Canadian, Australian, and New Zealand Dollars: These currencies are not exchangeable in Morocco. Bring USD, EUR, or GBP instead.
- Regional Notes: Notes from Northern Ireland or Scotland are not accepted. Stick to standard GBP notes if you’re coming from the UK.
Managing Your Money During Your Trip
Here are some practical tips to help you handle your finances in Morocco:
- Carry a Mix of Small Bills and Coins: This will make it easier to pay for small items, taxis, or tips.
- Be Prepared for Cash-Only Situations: Many local shops, souks, and restaurants operate on a cash-only basis.
- Check Your Cards: Ensure your credit and debit cards are authorized for international use before your trip.
- Keep Receipts: Always ask for receipts when exchanging money, as you may need them to exchange leftover dirhams before departing.
Managing your finances in Morocco doesn’t have to be complicated. By carrying a mix of cash and cards, choosing the right places to exchange money, and being mindful of small change, you can enjoy your trip without any financial hiccups. With these tips, you’re ready to explore Morocco’s vibrant markets, dine on delicious cuisine, and experience the culture with confidence.
Enjoy your journey and make the most of your time in Morocco!
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