In this article, you'll discover whether Revolut works in Morocco, explore some potential drawbacks if it is available, and consider the possibilities it offers for travelers and residents alike.
Does Revolut Work In Morocco?
Revolut is available for use in Morocco, primarily for international money transfers and spending in Moroccan Dirhams. Users can send money to Morocco quickly and with favorable rates, making it a convenient option for those needing to transfer funds internationally. Additionally, Revolut offers a Moroccan Dirham travel money card, which allows users to spend and withdraw cash in Morocco without the hassle of currency exchange.
While Revolut provides several functionalities in Morocco, there are some limitations to be aware of. Currency exchange fees are subject to fair-usage limits and weekend markups, and ATM withdrawals may incur additional fees beyond a certain limit. Despite these restrictions, Revolut remains a viable option for managing finances and spending in Morocco, offering a range of financial services to its users.
Fees and Charges for Using Revolut in Morocco
When using Revolut in Morocco, it's important to be aware of the various fees and charges that may apply. Here are the key fees and charges associated with using Revolut in Morocco:
- Currency Exchange Fees: Currency exchange fees are subject to fair-usage limits and weekend markups.
- ATM Withdrawal Fees: A maximum of 5 ATM withdrawals a month and up to £200 per rolling month are free. Anything over these limits is charged at 2% of the value of the ATM withdrawal or a minimum fee of £1 (whichever is greater).
- Transaction Fees: No specific transaction fees are mentioned for spending in Moroccan Dirhams. However, currency exchange fees may apply if the transaction involves a currency conversion.
- Currency Conversion Fees: If withdrawing from an ATM in a currency not held in the wallet, a conversion will involve exchange fees above the free conversion limits.
- Plan-Specific Withdrawal Limits: Fee-free ATM withdrawals up to £200 for Standard and Plus plans, up to £400 for Premium plan, and up to £800 for Metal plan. Withdrawals beyond these limits are charged at 2% of the value of the ATM withdrawal or a minimum fee of £1 (whichever is greater).
- General Costs: Users should avoid exchanging cash at airports or at home and instead use the Revolut card for spending or withdrawing money from ATMs. Always choose MAD as the local currency when spending with the card in shops and restaurants to avoid additional conversion fees. Be aware of potential ATM access fees charged by the ATM provider, which Revolut cannot prevent.
Is Revolut the Best Option in Morocco?
Even though Revolut is available in Morocco, it might not be the best option for users due to certain limitations and restrictions that could impact the overall user experience.
- Fair-usage limits: Currency exchange fees are subject to fair-usage limits and weekend markups.
- ATM withdrawal fees: Only 5 free ATM withdrawals per month; additional withdrawals incur fees.
- Access fees: Some ATMs may charge additional access fees that Revolut cannot prevent.
- Plan-specific limits: Fee-free ATM withdrawals vary by plan, with higher limits for premium plans.
- Currency conversion fees: Transactions involving currency conversion may incur additional fees.
Alternative Payment Solutions in Morocco
1) OneSafe
OneSafe is a leading alternative payment solution in Morocco, offering ease of use, lower fees, and superior customer support. With features like simple onboarding, global payments, and multi-currency support, OneSafe streamlines financial operations for businesses, making it a superior option for modern financial needs.
OneSafe Reviews
OneSafe has received positive feedback from users who appreciate its ease of use, lower fees, and excellent customer support. Users have rated OneSafe with an average score of 4.5 out of 5, highlighting its simple onboarding process and efficient global payment solutions. Check out more of our reviews here!
2) Wise
Wise is a reliable alternative payment solution in Morocco, offering competitive exchange rates and low fees. Key features include real-time exchange rates, transparent fee structures, and fast transfer times. With robust security measures and high customer satisfaction, Wise ensures secure and efficient international money transfers for users in Morocco.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 from 23 reviews and a recent rating of 4.5 out of 5 from 2 reviews. Users generally mention issues with government restrictions, transaction failures, and the document approval process. Check out more Wise reviews here.
3) Paypal
PayPal offers a secure and convenient payment solution in Morocco, allowing users to send and receive money globally. Key features include buyer and seller protection, 24/7 fraud monitoring, and the ability to link multiple cards. These benefits make PayPal a reliable option for both personal and business transactions.
Paypal Reviews
PayPal has an overall rating of 4.4 out of 5. Users generally mention high transaction fees and a lengthy dispute resolution process. Check out more PayPal reviews here.
Frequently Asked Questions about Revolut in Morocco
Can I use Revolut to withdraw cash in Morocco?
Yes, you can withdraw cash from ATMs in Morocco using your Revolut card.
Are there any fees for using Revolut in Morocco?
Yes, fees may apply for currency exchange, ATM withdrawals, and transactions involving currency conversion.
Does Revolut support Moroccan Dirhams?
Yes, Revolut supports Moroccan Dirhams for spending and withdrawals, making it convenient for users.
Is Revolut widely accepted in Moroccan shops and restaurants?
Revolut is accepted at most places that accept Visa or Mastercard in Morocco.
Can I send money to Moroccan bank accounts using Revolut?
Yes, you can send money to Moroccan bank accounts quickly and with favorable rates.
Conclusion
Choosing the right payment solution in Morocco is crucial for managing finances efficiently. While Revolut offers several benefits, exploring alternatives like OneSafe can provide lower fees and better support. Consider signing up for OneSafe to streamline your financial operations. Signup today!
