Morocco, a country located in North Africa, has a well-established banking system. In this article, we will explore the main local banks, international banks, accounts and services for expats, typical bank opening hours, areas of concern, and the process for opening a bank account in Morocco.
Local Banks in Morocco
The main local banks in Morocco are:
- Attijariwafa Bank
- Banque Populaire
- BMCE Bank
- Credit Agricole du Maroc
- Societe Generale Maroc
Attijariwafa Bank
Attijariwafa Bank is the largest bank in Morocco, with over 4,000 branches worldwide. They offer a range of services, including personal banking, corporate banking, and investment banking.
Contact Details:
- Website: https://www.attijariwafabank.com/
- Phone: +212 5 22 54 27 27
Banque Populaire
Banque Populaire is a cooperative bank in Morocco, with over 1,000 branches in the country. They offer a range of services, including personal banking, corporate banking, and investment banking.
Contact Details:
- Website: https://www.gbp.ma/
- Phone: +212 522 420 420
BMCE Bank
BMCE Bank is a Moroccan bank with international presence in Europe, Africa and Asia. They offer a range of services, including personal banking, corporate banking, and investment banking.
Contact Details:
- Website: https://www.bmcebank.ma/
- Phone: +212 522 54 54 54
International Banks in Morocco
In addition to the local banks in Morocco, there are also a number of international banks with a presence in the country. These include:
- Citibank
- HSBC
- Standard Chartered Bank
Citibank
Citibank is a multinational bank with a presence in over 160 countries worldwide. They offer a range of services, including personal banking, corporate banking, and investment banking.
Contact Details:
- Website: https://www.citibank.com/
- Phone: +212 522 54 10 10
HSBC
HSBC is a British multinational bank with a presence in over 60 countries worldwide. They offer a range of services, including personal banking, corporate banking, and investment banking.
Contact Details:
- Website: https://www.hsbc.co.ma/
- Phone: +212 522 54 47 47
Standard Chartered Bank
Standard Chartered Bank is a British multinational bank with a presence in over 60 countries worldwide. They offer a range of services, including personal banking, corporate banking, and investment banking.
Contact Details:
- Website: https://www.sc.com/ma/
- Phone: +212 522 54 40 40
Accounts and Services for Expats
Many banks in Morocco offer accounts and services specifically aimed at expats. These include:
- Foreign currency accounts
- International money transfers
- International credit cards
- Multilingual customer service
Expats should check with their chosen bank to see what specific accounts and services they offer.
Typical Bank Opening Hours in Morocco
The typical bank opening hours in Morocco are:
- Monday to Friday: 8:30 AM to 3:30 PM
- Saturday: 8:30 AM to 12:30 PM
- Sunday: Closed
Opening a Bank Account
Once you have selected the bank and account type, you will need to provide the necessary documentation to open the account. These documents typically include:
- A valid passport
- Proof of address in Morocco (such as a utility bill)
- A residency permit or visa
- A letter from your employer, if applicable
- Proof of income, such as bank statements or pay stubs
You will also need to fill out an application form and sign a signature card. Some banks may require you to make an initial deposit to open the account.
Once your account is opened, you will typically be given a debit card and access to online banking services. You may also be able to apply for a credit card or other financial products offered by the bank.
Banking in Morocco is generally straightforward, with a variety of local and international banks offering a range of accounts and services. Expats can easily open a bank account in Morocco, although it is important to research the various options and be aware of any fees or restrictions that may apply. By following the steps outlined above, expats can open a bank account in Morocco and enjoy the convenience and security of having a local bank account.
