🌍 Currency Exchange in Morocco: Banks vs. Exchange Offices – Which Option is Better? | 2025 Guide
If you’re visiting Morocco or have recently moved to cities like Tangier or Casablanca, you’ll likely need to exchange your foreign currency into Moroccan Dirhams (MAD).
But here’s the important question: Should you exchange money at a bank or at a private exchange office? In this article, we break down the differences between the two options to help you make a smart and safe choice.
1. Exchanging Currency at a Bank
Major banks such as Attijariwafa Bank, BMCE, and Banque Populaire offer currency exchange services. However, these services are often designed for existing clients.
Advantages of using a bank:
Very high level of safety and trust
Good option for large sums or official bank transfers
Detailed receipts that are internationally recognized
Disadvantages of using a bank:
Less competitive exchange rates compared to private offices
Possible hidden fees or commissions
The process can be slower and may require paperwork
2. Exchanging Currency at a Private Exchange Office
Offices like El Yassini Exchange in Tangier offer fast and convenient services for travelers and new residents.
Advantages of using a private exchange office:
Much better exchange rates than most banks
Usually no fixed commissions
Quick and efficient (often takes just a few minutes)
No documents required for small transactions
Disadvantages of private exchange offices:
Some offices may not be officially licensed – always check for accreditation
Large transactions might require proof of funds
Not all currencies are always available
Tips for Exchanging Money in Morocco:
1. Compare rates at several places before exchanging
2. Always ask how much you will receive before handing over your money
3. Avoid exchanging at airports unless absolutely necessary
4. Never deal with street exchangers or unofficial “currency brokers”
5. Keep your exchange receipt, especially if you plan to convert the money back later
