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Why is Instant Online Money Transfer Becoming Increasingly Popular for Moroccan Expats?

26 Jul 2023

Over 5 million Moroccans live abroad, most of whom either study there for better career prospects or settle and work for better earnings. They typically send money to Morocco through various ways to support their families back home. Reports show that where almost 62% of the country’s population uses internet, 75% of these internet users have turned towards digital payment systems or online money transfers.

These migrants have several methods at their disposal to transfer funds from afar. Many migrants use different methods according to their needs.

But broadly, you have two methods that, despite having several apparent contrasts, you can access and use. Rather, many of you would already be using either of these two methods, which are the banks and online money transfer companies.

But did you ever wonder why new methods of moving money are gaining traction faster than anticipated over other methods?

Why do you wish to send money through companies you have little idea about against banks that you know – have known – for a long time?

Well, these are important questions to answer, and this blog will walk you through the reasons why instant money transfers are gaining popularity.

But before that, you need to look at the reasons why Moroccans leave their country to find jobs abroad. A quick look at these reasons will help you understand why you prefer instant money transfers over other methods.


Why Moroccans Travel Abroad?

Survey after survey revealed that most Moroccans want to leave the country, particularly the youth, owing to the following few reasons.


Scarce Work Opportunities

The country does not offer viable job opportunities to a large segment of its population. This pushes people to travel to other countries to find jobs and earn a living and offer their families financial help through a money transfer to Morocco.

Incidence Of Acute Poverty

Resulting from unemployment, the incidence of poverty in Morocco is high. Many people hardly manage to put food on tables. This poverty deprives people of other life essentials like a quality education which afflicts the younger generation with poverty, and the vicious poverty cycle continues unabated.

The Moroccan Economy And Inward Remittances

  • Morocco’s GDP in 2021 was $142.87 billion, according to a World Bank report.
  • The same institution said in another report that the country’s GDP per capita in the same year was $3,795.4.
  • The World Bank said in a separate report that the country received $10.7 billion in inward remittances in 2021.

These are some of the reasons that prompt Moroccans to travel abroad. 

You must, therefore, wonder, as a Moroccan migrant, which countries to travel to earn a living. Right?

Here is the List Of Countries That Pay The Most To Expatriate Workers.

Let’s now take a look at the reasons why instant money transfers are gaining popularity. But to fully appreciate the positives of the new methods, you must understand other methods.


Banks And Their Operational Downside

You could not have realised the downside had it not been for the advent of newer and sophisticated means of transferring funds. Take a look below.


Days To Transfer Funds

Even in this tech-driven fast era, banks will transfer money from one country to another between 3 to 5 business days. And that is not all. This duration can extend depending on several factors, including the time of the transaction, the quantum of money, the destination country, etc.

Uncompetitive Exchange Rates

You do not find any bank offering you market-competitive exchange rates, given that these keep fluctuating and never remain static. So, you have to settle with the rates a bank offers you, even if these are lower than in the international market.

Exorbitant Fee

Service charges of banks are always high. And high service charges with uncompetitive currency exchange rates do not serve a major part of your purpose of expatriation, which is to support your family financially through an online money transfer to Morocco, whose repetition you schedule according to your financial plans.

Now, let’s take a look at what instant money transfers have on offer for you that add to their popularity.

Advantages Of Instant Money Transfers

Well, the first advantage is hidden in the title. Let’s unfold it together.


Lightening Fast Transfers

Money transfer companies help you send funds from afar in a matter of a few hours, if not less. Gone are the days, after the advent of these service providers, when you would wait for days to collect funds.

This feature makes these service providers perfect for attending to emergencies requiring your immediate financial help.

Live And Market-Competitive Exchange Rates

A few service providers, including ACE Money Transfer, offer you rates that are linked with the international market and are thus highly competitive. This allows you to initiate a transaction at a time when the rates move in your favour.

Fee Proportionate To The Funds

Several companies do not charge flat fees for providing services. The fee is mostly charged as a small percentage of the funds being transferred. A few companies, including ACE Money Transfer, however, maintain a threshold below which a fee is not charged.

It means that if the amount being sent remains below a certain limit, your transfers will likely remain free.

Safety Against Scammers

A multi-layered safety around the transfers coupled with speed leaves no margin for the scammers to prey on your transfers. It is essential in the wake of rising scams and online financial fraud.

Timeless Convenience

Given that these services are available 24/7, it makes it convenient for you to initiate a transaction any time of the day and right from the middle of your comfort zone through their apps and websites without having to commute and incur expenses.

All of these features add to the rising popularity of instant money transfers for Moroccan and other expatriates worldwide.


ACE Money Transfer – Your Best Money Transfer Bet

If you send money to Morocco online with ACE Money Transfer, you will not only get the benefits listed above, but you will also be eligible for the promotional campaigns the firm regularly launches to dole out big prizes to its valued customers.


What is driving the growth in popularity of instant online money transfers among Moroccan expats?

The popularity of instant online money transfers among Moroccan expats is driven by several factors. These include convenience, as transactions can be made from anywhere at any time; speed, with money transfers often completed within minutes; and cost-effectiveness, as online services often have lower fees than traditional money transfer methods.

What are the benefits of using instant online money transfer services for Moroccan expats?

The benefits of using instant online money transfer services for Moroccan expats include the ability to send money home quickly and securely, often at a lower cost than traditional methods. The process is usually straightforward and can be completed on a computer or mobile device, eliminating the need for physical visits to a bank or money transfer outlet. Some services also offer features like tracking, notifications, and the ability to set up recurring transfers.

How secure are instant online money transfers for Moroccan expats?

Most instant online money transfer services have robust security measures in place to protect user information and funds. These may include encryption, two-factor authentication, fraud detection systems, and secure servers. However, it's always important for users to do their part in maintaining security, such as by keeping their login information confidential and using secure internet connections for transactions.

Are there any potential drawbacks or risks for Moroccan expats using instant online money transfers?

While there are many benefits to using online money transfers, there can be potential drawbacks. Some services may have higher fees for instant transfers or limits on how much can be transferred at one time. ACE Money Transfer, however, offers the lowest transfer costs with no hidden charges involved. The recipient may also need access to a certain technology or a specific bank account to receive the funds. Furthermore, like all online activities, there's a risk of cybercrime, although reputable companies take extensive measures to prevent this.

How do Moroccan expats choose the best instant online money transfer service?

Choosing the best instant online money transfer service often depends on individual needs and circumstances. Factors to consider might include the speed of transfer, fees and exchange rates, ease of use, customer service, recipient's needs, and the service's reputation and security measures. It's recommended to compare different services and read reviews before making a decision.


  • Moroccan diaspora

(The Moroccan Diaspora: A Factor to Consider in Governmental Policy Making (

  • Moroccan GDP

(GDP (current US$) - Morocco | Data (

  • Moroccan GDP per capita

(GDP per capita (current US$) - Morocco | Data (

  • Inward remittances

Personal remittances, received (current US$) - Morocco | Data (


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