Wafacash

Wafacash is the payment institution of the Attijariwafa bank group. Its official site presents it as a 'subsidiary of the Attijariwafa bank Group created in 1991': it began life as Wafa Monétique, the kingdom's first card-processing centre. A payment institution is not a bank: it does not take interest-bearing savings and does not grant mortgages, but it opens payment accounts, collects, transfers and distributes means of payment, under a licence from Bank Al-Maghrib. Wafacash announces 4,000 branches across Morocco and its subsidiaries, more than 4,000 staff and a presence in 11 African countries. Its head office is at 15, rue Driss Lahrizi, Casablanca.

What you can do there: send and receive money within Morocco; receive an international transfer via Western Union, MoneyGram or Ria; open the Hissab Bikhir bank account, which comes with a reloadable prepaid card and a mobile app; open a mobile payment account; pay bills, taxes and debts; exchange currency; take out inclusive insurance. It is the de facto banking entry point for part of the unbanked population, and one of the channels most used by Moroccans abroad to send money home.

What to bring, according to the official FAQ: for a domestic transfer, a valid ID — national ID card, Moroccan passport or residence card —, the beneficiary's first and last name exactly as they appear on their ID, the destination city and the amount. For an international transfer, your ID and, depending on the case, proof of family relationship: a copy of the family record book or a marriage certificate. The beneficiary of a domestic transfer has 45 days to come to a branch.

The announced ceilings: Wafacash's FAQ states a maximum of MAD 5,000 per transaction and MAD 20,000 per day for a domestic transfer; up to MAD 80,000 per international transfer, and MAD 10,000 per year for family assistance. These amounts are not set freely: transfers from Morocco abroad fall under the exchange regulations applied by the Office des Changes. Always check the ceiling applicable to your situation at a branch before travelling with cash.

What it costs: Wafacash does not publish a stable fee schedule that can be consulted online. Fees depend on the corridor, the amount, the service used and, for inbound transfers, on the originating operator — Western Union, MoneyGram and Ria apply their own scales, usually paid by the sender. Wafir.ma therefore publishes no Wafacash pricing. To compare the true cost of a transfer, including the exchange-rate margin that often weighs more than the advertised commission, see our comparison of money transfer services and our prepaid card comparison.

A problem with a transfer: what to do: have the transfer number and your ID to hand, then contact customer service on 0522 43 50 50 — open, according to the site, Monday to Friday from 8 am to 8 pm, Saturday from 9 am to 1 pm and Sunday from 10 am to 3 pm — or go to a branch. The FAQ announces an acknowledgement of the complaint within 10 working days and handling within 30 working days at most. If the answer does not satisfy you, payment institutions, like banks, fall under the mediation of the Moroccan Banking Mediation Centre, then Bank Al-Maghrib's complaint form.