Sending business payments from the US to Morocco
A US company pays a Moroccan supplier or contractor by SWIFT wire, usually in US dollars or euros, to the company's account at a Moroccan bank, quoting the invoice and, for services, the contract number. Under the Office des Changes rules, goods proceeds must come home within 150 days and service proceeds within 90 days, and exporters may keep up to 70% in foreign currency. This guide covers the details to collect, the rules, timing, documents and fees.
- Under the IGOC 2026, as summarized by Upsilon Consulting, proceeds from exports of goods must be repatriated within 150 days of the customs declaration, and proceeds from services within 90 days of performing the service.
- Exporters may keep up to 70% of repatriated proceeds in foreign currency or convertible dirham accounts, or 85% for categorized operators, and surrender the rest.
- For services, the IGOC requires a written contract stating the service, amount, invoicing currency, payment terms and schedule, which the exporter presents to its bank.
- Crédit du Maroc lists a value date of two working days after receipt for an export transfer, and a commission of 1.5 per thousand with a minimum of 100 dirhams.
- Helm does not currently provide USD account details to companies based in Morocco; this page covers paying a Moroccan business from abroad.
Details to collect from your recipient in Morocco
Ask the supplier for its bank details letter and copy the account number in the bank's full format, with the bank's SWIFT code and its US correspondent. For services, ask for the contract number too, because the bank needs the contract to repatriate the proceeds.
| Detail | What to ask for | Why it matters |
|---|---|---|
| Beneficiary name | The registered name, exactly as on the account and the trade register | Name mismatches lead to queries |
| Account number | In the bank's full format, from its bank details letter | A short or partial number can be rejected |
| Bank name, branch, address and SWIFT code | 8 or 11 characters | Routes the wire |
| Correspondent bank | The bank's US correspondent and its SWIFT code, as the bank instructs | A missing correspondent is a common reason for returns |
| Reference | Invoice number, and the contract number for services | Lets the bank match the receipt to the export |
Sources: Upsilon Consulting summary of the IGOC 2026; field list compiled by the Helm Editorial Team. As published on 29 October 2026.
USD or dirhams: what Morocco's exchange rules say
The Office des Changes, Morocco's foreign exchange authority, sets the rules in its General Instruction on Foreign Exchange Operations (IGOC), overhauled in 2026, and Bank Al-Maghrib supervises the banks that apply them. Residents hold dirham accounts, with foreign currency accounts on an exceptional basis; exporters may keep part of their proceeds in foreign currency. The US dollar to dirham page covers the currency.
| Rule | What it says | What it means for your payment |
|---|---|---|
| Goods | Repatriate within 150 days of the registration date of the customs declaration | Pay well within the agreed term |
| Services | Repatriate in full within 90 days of performing the service | Pay service invoices promptly |
| Retention | Up to 70% of repatriated proceeds in foreign currency or convertible dirham accounts; 85% for categorized operators | The rest is sold for dirhams |
| Commissions and discounts | Up to 10% for foreign agents; up to 5% price reductions with a customer document | Agree discounts in writing |
| Crypto | Crypto ownership and trading banned since 2017; draft Bill No. 42.25 still being finalized in July 2026 | Pay by bank transfer |
Sources: Upsilon Consulting, IGOC 2026 export rules and exchange status (updated 5 October 2026); Morocco World News, 22 July 2026. As published on 29 October 2026.
A convertible dirham account holds dirhams that can later be turned back into foreign currency. For the recipient's view, see how Moroccan businesses receive USD.
Rails and arrival times to Morocco
A payment from a US account reaches a Moroccan bank by SWIFT through its US correspondent, and the dollars settle in the United States on Fedwire, which opens at 9:00 p.m. ET on the previous calendar day, takes customer transfers until 6:45 p.m. ET and closes at 7:00 p.m. ET, Monday to Friday. For an exporter, the arrival date also counts against the IGOC deadline.
| Route | What the recipient receives | Timing, as published | Notes |
|---|---|---|---|
| SWIFT wire in USD | Dollars; up to 70% kept, the rest sold for dirhams | Crédit du Maroc lists a value date of two working days after receipt for an export transfer | The standard route |
| SWIFT wire to a dirham account | Dirhams, converted on arrival | Credited on a Moroccan business day | For companies that do not export |
| Export documentary credit or collection | Dollars against documents | On presentation of complying documents | Documents must match the credit |
Sources: Crédit du Maroc tariff brochure (rates in force from 9 March 2026); Upsilon Consulting; Federal Reserve Financial Services, Fedwire operating hours. As published on 29 October 2026.
Swift reported in August 2023 that 89% of payments on its network reached the recipient's bank within an hour. The value date the Moroccan bank applies after receipt is where most of the time goes, so send early when an invoice is near its due date.
Documents, screening and why payments to Morocco are held
Moroccan exporters keep the commercial contract, invoices, customs declaration and bank repatriation forms for inspection, and service exporters present a written contract to collect each payment. A payment that quotes the contract and invoice numbers lets the bank match it at once. Helm does not currently provide USD account details to companies based in Morocco.
One more check sits on your side: OFAC states that all US persons, including US-incorporated companies and their foreign branches, must comply with its sanctions, so screen the recipient, its owners and its bank against OFAC's lists before the first payment (OFAC FAQ 11).
| Problem | What happens | How to prevent it |
|---|---|---|
| No written contract for a service | The exporter cannot collect and repatriate the proceeds | Sign a contract stating amount, currency and schedule |
| Missing or wrong correspondent bank | Delayed or returned | Copy the bank's standard settlement instructions |
| No invoice or contract number | The bank cannot match the receipt | Quote both |
| Wire sent as SHA | Amount credited differs from the invoice and the file | Use OUR for large invoices |
| Payment offered in stablecoins | Crypto trading banned since 2017 | Pay by bank transfer |
Sources: Upsilon Consulting; Morocco World News; Helm Editorial Team. As published on 29 October 2026.
Costs: SHA, OUR and Helm's fees for payments to Morocco
On an export transfer of MAD 500,000, Crédit du Maroc's 1.5 per thousand commission comes to MAD 750, plus 70 dirhams in accessory fees for business clients, amounts excluding VAT. Correspondent deductions on a SHA wire come on top. For large invoices, write OUR into the contract so that what is credited equals the invoice and the exporter's repatriation file. For account options in Morocco, see USD accounts in Morocco.
Helm is a financial technology company, not a bank. Its US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with customer funds held at Lead Bank. Helm sends international payments by SWIFT and by local rails in the recipient's currency where available, confirmed by your account manager, and shows the rate, the fee and the expected arrival before you confirm.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
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How do I send a business payment from the US to Morocco?
Send a SWIFT wire to the supplier's account at its Moroccan bank, with the full account number, the bank's SWIFT code and its US correspondent, quoting the invoice and, for services, the contract number.
How long do Moroccan exporters have to receive payment?
Under the IGOC 2026, as summarized by Upsilon Consulting, goods proceeds must be repatriated within 150 days of the customs declaration and service proceeds within 90 days of performing the service.
Can a Moroccan supplier keep US dollars?
Partly. Exporters may keep up to 70% of repatriated proceeds in foreign currency or convertible dirham accounts, or 85% if categorized, and surrender the balance on the foreign exchange market.
Why does my Moroccan contractor need a contract?
The IGOC requires a written contract for exports of services stating the service, amount, invoicing currency, payment terms and schedule, which the contractor presents to its bank to collect your payment.
How long does a wire to Morocco take?
The dollars settle in the US on Fedwire. Crédit du Maroc lists a value date of two working days after receipt for an export transfer, and other banks set their own.
What does Helm charge to send money to Morocco?
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. Helm does not provide USD account details to companies based in Morocco.
References
- Upsilon Consulting: Export in Morocco, currency repatriation and exchange obligations (IGOC 2026)
- Upsilon Consulting: Exchange status in Morocco, resident, non-resident, MRE, foreign (IGOC 2026)
- Crédit du Maroc: Tariff brochure (rates in force from 9 March 2026)
- Morocco World News: Bank Al-Maghrib confirms progress on crypto law (22 July 2026)
- Federal Reserve Financial Services: Fedwire Funds Service operating hours
- Swift: Cross-border payments on Swift exceed the G20's processing speed target (22 August 2023)
- Office of Foreign Assets Control: FAQ 11, Who must comply with OFAC sanctions?
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.