Compare today's EUR to MAD (Euro to Moroccan Dirham) exchange rates
📈 Spain to Morocco Money Transfer Snapshot Today
- Best EUR to MAD exchange rate today: MAD 10.9101, offered by Regency FX
- Number of money transfer providers compared: 16
- Exchange rate range: MAD 10.5338 to MAD 10.9101
- Potential savings on EUR 1000: MAD 376.30
- Number of deals and promo codes: 8
- Mid-market
ⓘThe mid-market exchange rate (also called the interbank rate) is the real EUR to MAD exchange rate before providers add their margin or fees. exchange rate: 1 EUR = MAD 10.8474 (Updated about an hour ago)
See detailed Spain to Morocco money transfer comparison below.
Money Transfer Providers that matched the search criteria
📢 B2B transfers only
📢 Special exchange rate applied for first transfer
📢 Special exchange rate applied for first transfer
📢 B2B transfers only
📢 New! Cash pickup available
📢 Special exchange rate applied for first transfer
If you are making international business money transfers or payments, RemitFinder can assist by matching you with the best options to suit your unique business needs. Get in touch now to see how we can help protect your business revenue by getting you higher exchange rates and lower transfer fees on international business FX.
💡What today's EUR-MAD exchange rates mean for you
Compare today's EUR-MAD exchange rates and send money from Spain to Morocco after comparing numerous money transfer providers. Check the latest exchange rates, read detailed provider reviews, and discover deals and promo codes — all in one place.
RemitFinder compared 16 providers that you can rely on for Spain to Morocco money transfers today. Here is a summary of how the competition looks like right now:
Today's Most Competitive Spain to Morocco Providers
🥇 Regency FX with 1 EUR = 10.9101 MAD (best EUR to MAD exchange rate today).
🥈 Key Currency offering 1 EUR = 10.9101 MAD.
🥉 Verto & Currencyflow are also providing good FX rate today.
The exchange rate provided by these 16 providers ranges from MAD 10.5338 to MAD 10.9101. For a EUR 1000 money transfer from Spain to Morocco, that could mean up to MAD 376.30 saved on FX alone.
EUR-MAD exchange rates fluctuate throughout the day, and top positions can change quickly. This volatility can significantly impact the final MAD payout that your recipient gets in Morocco.
That's why we recommend comparing money transfer providers to ensure you can maximize the value of your Spain to Morocco remittances.
🔄 Looking for the reverse corridor? Send money from Morocco to Spain instead.
Looking for a different option? You can browse all sending countries on our send money from hub, or view all destinations available when sending money from Spain.
👇 We also suggest looking beyond today's EUR-MAD exchange rate — historical pricing trends show many factors that can affect the overall transfer cost of your transfer.
Whilst EUR-MAD exchange rate is crucial, historical data shows that transfer fees, EUR amount sent and payment and delivery methods can also significantly influence your final payout.
Below, we analyze Spain to Morocco historical remittance data to help you understand where costs may arise and share some best practices to try to maximize your MAD payout.
Data-driven cost insights for Spain to Morocco money transfers
When you send money internationally from Spain to Morocco, the key factors that will influence the overall cost of your transaction are:
- EUR-MAD exchange rate
- Transfer fee
- Payment method
- Delivery method
Ideally, you would want to optimize these 4 factors to try to get the maximum MAD payout for your overseas recipient in Morocco.
Another counter-balancing aspect is money transfer speed. If you need to rush money from Spain to Morocco, you may have to compromise on some of the above factors whilst optimizing for speed.
To put this into a better perspective using a data-driven approach, we analyzed historical remittance pricing1 for Spain to Morocco money transfers to compare transfer costs, FX margins, fees, and payment and delivery methods across providers.
This analysis is based on 427 actual Spain to Morocco money transfers handled by 13 providers over the last 5 years (for a EUR 140 remittance benchmark).
This data-driven approach using real EUR-MAD transfer data provides useful insights into identifying the lowest-cost payment and delivery combinations, thereby helping you reduce costs and maximize the amount received.
Before we deep dive, here are the key trends from our analysis, summarized in an easy to read format.
📌 Key insights for Spain to Morocco money transfers
- Average total cost: 5.09% (range -1.56% to 43.07%, spread 44.63 percentage points)
- Potential payout difference: On a EUR 140 transfer, the above variation can save you up to EUR 62.48.
- Average FX markup: 2.34% (range -2.35%
ⓘA negative markup generally represents a promotional exchange rate whereby a provider offers an exchange rate that is even higher than the mid-market rate, often on smaller amounts. to 18.19%, spread 20.54 percentage points) - Average transfer fee: EUR 3.85 (range EUR 0.00 to EUR 36.00)
- Cheapest payment/delivery method combo: Credit Card → Bank Deposit (3.03% avg cost); most expensive is Bank Account Transfer → Bank Deposit (9.69%)
- Payment/delivery method choice impact: Cheapest vs most expensive combo saves 6.65% (EUR 9.31 on EUR 140 transfer).
- Market coverage: ~13 providers on average (competition level: competitive)
- Average speed: About 14 hours
🛠️ Key takeaway: Compare providers using both exchange rate and fees, then optimize your payment and delivery methods to reduce total cost.
Below, we provide detailed data-driven insights on various factors that influence the total cost of your Spain to Morocco money transfers.
📈 EUR to MAD exchange rate is often the biggest driver of both cost and payout
The exchange rate on your Spain to Morocco money transfers is usually the single biggest factor that will determine your overall EUR cost and your recipient's MAD payout.
To analyze exchange rates, we will rely on the exchange rate markup (also called FX margin) which is the difference between the mid-market exchange rate
Based on historical pricing data for a EUR 140 money transfer benchmark, we see the following FX markup ranges for Euro to Morocco transfers:
- Average markup: 2.34%
- Median markup: 2.10%
- Lowest markup: -2.35%
ⓘA negative markup generally represents a promotional exchange rate whereby a provider offers an exchange rate that is even higher than the mid-market rate, often on smaller amounts. - Highest markup: 18.19%
That is a spread of 20.54 percentage points between the lowest and highest observed FX markups.
To put this into perspective, on a EUR 140 transfer, the above markup range is equivalent to roughly MAD 28.76 purely from differences in the exchange rate. That incremental saving increases to MAD 70.86 for a EUR 345 transfer.
🛠️ How to use this insight: When comparing providers for Spain to Morocco remittances, pay close attention to the exchange rate you receive. A small difference in the FX markup can quickly outweigh other factors like fees, and the gap generally grows as transfer amounts increase.
EUR to MAD exchange rate can be the single most critical factor that determines the cost of your transfer. When comparing providers, keep an eye on the rate you will get.
💰 Transfer fees affect your total Spain to Morocco remittance cost
Whilst exchange rate is a major factor affecting total transfer cost, the transfer fee can also have a big impact on how much of your Euro reaches your recipient in Morocco.
Based on data from last 5 years, we notice the below about Euro to Morocco money transfer fees:
- Average fee: EUR 3.85
- Median fee: EUR 2.99
- Lowest fee: EUR 0.00
- Highest fee: EUR 36.00
The average fee amount of EUR 3.85 noted above represents 2.75% of the total amount sent.
Also note that even if two providers provide the same exchange rate, a best vs worst case transfer fee can increase the payout by EUR 36.00.
🛠️ How to use this insight: For your next money transfer from Spain to Moroccan Dirham, look for providers that provide lower (or even 0) fees.
One caveat to this, though, is something called the hidden fee. Some providers may hide their real fees by offering a 0 or low fee, but providing a lower exchange rate. The money lost due to an inferior FX rate affects your bottom line and is referred to as a hidden fee. Therefore, you should also keep an eye on rates whilst paying attention to fees.
Another point that you should keep in mind is that for larger transfers, fixed fees become a lesser percentage of total amount. But for smaller transfers, fees can be a major part of total cost.
💸 Payment and delivery methods matter for EUR-MAD remittances
Based on our detailed analysis of historical Spain to Morocco data, we see consistent variation in overall cost amongst the payment method and delivery method you choose.
Here is the average cost for popular payment methods used to send money to Morocco from Spain:
- Credit Card: 4.07%
- Debit Card: 4.24%
- Cash: 4.87%
- Bank Account Transfer: 6.51%
That is a total spread of 2.43 percentage points.
This means that on a EUR 140 transfer, you could save up to EUR 3.40 simply by choosing the best priced payment method.
These savings will only multiply for higher EUR amounts.
Here is the average cost of popular delivery methods used to send money from Spain to Morocco:
- Cash Pickup: 4.57%
- Bank Deposit: 6.22%
The cost difference between the above delivery methods is 1.64 percentage points.
Once again, this means that you could save up to EUR 2.30 on a EUR 140 transfer to Morocco by choosing Cash Pickup versus Bank Deposit.
As you can imagine, the possible combinations of Spain payment methods and Morocco delivery methods will all have disparate cost. Let us look at that next.
Here is a summary of the average cost of payment and delivery method combinations for Spain to MAD money transfers.
| Payment Method | Delivery Method | Average Cost (%) |
|---|---|---|
| Credit Card | Bank Deposit | 3.03 |
| Debit Card | Bank Deposit | 3.45 |
| Bank Account Transfer | Cash Pickup | 3.57 |
| Credit Card | Cash Pickup | 4.83 |
| Debit Card | Cash Pickup | 4.85 |
| Cash | Cash Pickup | 4.87 |
| Bank Account Transfer | Bank Deposit | 9.69 |
Sorted by Average Cost % (cheapest to most expensive).
As you can see, the difference between these EUR-MAD payment and delivery options is significant. Here are some observations:
- Credit Card → Bank Deposit has the lowest average cost at 3.03%.
- Bank Account Transfer → Bank Deposit has the highest average cost at 9.69%.
- Credit Card → Bank Deposit average cost is 6.65 percentage points lower than that of Bank Account Transfer → Bank Deposit.
- This means that on a EUR 140 money transfer, you could save up to EUR 13.56 simply by choosing the best payment and delivery method combo.
- Further, on a EUR 345 money transfer, the savings increase to EUR 33.42.
Here is a quick summary of the average historical cost of various payment and delivery methods for EUR to Morocco money transfers.
💸 Cheapest payment and delivery methods (data-backed)
- Cheapest payment method: Credit Card averaged 4.07%, compared to 6.51% for Bank Account Transfer, a difference of 2.43 percentage points.
- Cheapest delivery method: Cash Pickup averaged 4.57%, compared to 6.22% for Bank Deposit (1.64 percentage points higher).
- Cheapest combo: Credit Card → Bank Deposit averaged 3.03%, which is 6.65 percentage points lower than Bank Account Transfer → Bank Deposit (9.69%).
🛠️ How to use this insight: As you compare money transfer providers for your next Spain to Morocco international money transfer, strive to pair the lowest-cost payment method with the lowest-cost delivery method.
This can help you avoid the pitfall of "great exchange rate, expensive methods".
You can save money on your Spain to Morocco remittances by carefully choosing the most economical payment and delivery methods.
🏦 Are banks more expensive than money transfer providers for EUR-MAD remittances?
When we compared Spain banks with money transfer providers based on 5 years of remittance data, we noticed some patterns.
We observed that traditional banks charged 9.59 percentage points more on average than money transfer providers for Spain to Morocco remittances.
This means banks tend to be approximately 3.25x more expensive than money transfer companies.
Here are the key stats behind this comparison:
| Banks | MTOs^ | Difference | |
|---|---|---|---|
| Average transfer fee | EUR 15.18 | EUR 2.77 | EUR 12.41 |
| Exchange rate markup | 3.00% | 2.28% | 0.73 pp* |
| Average total cost (%) | 13.84% | 4.26% | 9.59 pp* |
^MTO: Money transfer operator, a commonly used term for a money transfer provider
*Percentage points
🛠️ How to use this insight: Whilst banks in Spain may offer convenience and familiarity, money transfer providers often deliver lower overall cost due to their better exchange rates and lower fees. Even if you want to send money overseas with your bank in Spain, we recommend comparing with money transfer companies to find your best options.
📊 Does sending more money reduce the cost of EUR-MAD money transfers?
To see if transfer cost varies based on the amount sent, we compared the average cost of sending EUR 140 vs EUR 345 from Spain to Morocco.
We found that sending a higher amount (EUR 345) tends to be cheaper - average cost drops from 5.09% to 3.52%, a reduction of 1.57 percentage points.
The cost of your transfer usually continues to drop as transfer amount increases. That said, always check the latest exchange rates and fees for your intended transfer amount.
🛠️ How to use this insight: Since it is generally cheaper to send higher Euro amounts to Morocco, consider consolidating smaller, more frequent transfers into fewer, larger ones. Doing so may reduce the total cost you pay.
🏛 How competitive is the Spain to Morocco remittance market?
Based on data from the last 5 years, EUR-MAD money transfers are provided on an average by 13 remittance companies. With around 13 providers serving this market, we consider the level of competition to be competitive.
Traditional banks have represented only 15.4% of active providers in this corridor (2 out of 13), meaning money transfer companies make up the majority.
The good news is that you can currently compare 16 providers on RemitFinder for EUR-MAD transfers. This is a higher number of money transfer companies to choose from as compared to prior years.
A remittance market with more active providers is typically more competitive. This means you can get a better pricing and more payment and delivery options for your Spain to Morocco remittances.
⏱️ How fast are EUR-MAD money transfers?
If your recipient in Morocco needs funds urgently, you may need to optimize your transfer for speed.
Here is what we see for Spain to Morocco transfers when it comes to processing time:
- Average transfer time: About 14 hours.
- Fastest transfer time: About less than 1 hour.
- Slowest transfer time: About 144 hours (~6.0 days).
- Average speed at EUR 140: About 14 hours.
- Average speed at EUR 345: About 14 hours.
Banks vs money transfer providers speed comparison: Banks take 13 hours longer on average than money transfer providers.
🛠️ How to use this insight: If you need to send money from Spain to Morocco in a hurry, compare providers not just on exchange rate, but also on expected speed. Speed also varies based on the delivery method (bank vs cash vs wallet) you choose for Morocco.
Spain to Morocco transfer speed varies across providers, so compare transfer speed along with cost for time-sensitive money transfers. In addition, pick the fastest payment and delivery methods for faster processing.
Frequently Asked Questions about Spain to Morocco money transfers
These FAQs use data from RemitFinder's historical analysis of Spain to Morocco money transfers over several years.
What factors affect the total cost of sending money from Spain to Morocco?
The total cost of your EUR-MAD money transfer depends on how you fund the transaction (payment method), how the recipient receives it (delivery method), the exchange rate you get, and any transfer fee charged by the provider.
To avoid overpaying for your transfer, compare money transfer providers.
How much does the exchange rate affect Spain to Morocco transfers?
Historical EUR to MAD exchange rate markup ranges from -2.35% to 18.19%, a spread of 20.54 percentage points. Even small differences in the exchange rate markup can impact your final payout significantly.
Can EUR-MAD exchange rate markup be negative?
Sometimes, money transfer providers may offer promotional exchange rates that are better than the mid-market exchange rate, resulting in a negative EUR-MAD exchange rate markup.
Such offers are generally limited by transfer amount, eligibility, or duration. Compare providers to see if you can take advantage of any ongoing special offers.
Is the exchange rate or the transfer fee more important for Spain to Morocco transfers?
Exchange rate markup ranges from -2.35% to 18.19% (a spread of 20.54 percentage points).
Transfer fees range from EUR 0.00 to EUR 36.00, which equals roughly 25.71% on a EUR 140.00 transfer.
At EUR 140.00, the larger driver of overall cost is the transfer fee, whilst at EUR 345.00, it shifts toward exchange rate markup.
Regardless, our recommendation is that it is important to compare both exchange rates and fees when choosing a provider for Spain to Morocco transfers.
As the transfer amount increases, the % impact of fees decreases (because the fee gets spread across a larger EUR amount), whilst exchange rate markup remains a percentage-based cost that can scale with transfer size.
For smaller transfers, fees can matter more, whilst for larger transfers, exchange rate often becomes the bigger driver. Either way, comparing both helps you get the most MAD for your EUR.
How much can Spain to Morocco transfer costs vary between providers?
Historical transfer cost ranges from -1.56% to 43.07% for EUR transfers to Morocco. That is a spread of 44.63 percentage points, meaning significant differences between various money transfer providers.
A major contributor to this variation is exchange rate markup. FX markup alone ranges from -2.35% to 18.19% (a spread of 20.54 percentage points). Thus, even small differences in FX margin can have a big impact on the final MAD payout.
Why do various money transfer providers price EUR to Morocco transfers differently?
If you send the same Euro amount to Morocco via different providers, the cost of each transfer will be different because of variations in FX markup, fees, and payment and delivery methods.
Even small differences among all the above factors can change the final MAD payout in Morocco in a big way.
How stable are transfer costs in the Spain to Morocco corridor?
When we analyzed the historical total cost for EUR-MAD transfers, we observed a range from -1.56% to 43.07% (44.63 percentage points difference), along with a variability (standard deviation) of 4.99%.
A major driver of cost in this market is exchange rate markup. FX markup ranges from -2.35% to 18.19% (20.54 percentage points difference), with a standard deviation of 1.91%. Fees and payment/delivery method choices can contribute to further volatility.
This is exactly why we recommend comparing money transfer providers to get the most of your EUR-MAD transfers.
Which payment method is cheapest for Spain to Morocco remittances?
Credit Card is the cheapest payment method in Spain based on its average cost at 4.07% (compared to Bank Account Transfer at 6.51%, a difference of 2.43 percentage points).
Based on this, we recommend paying for your EUR transfer with Credit Card, and avoiding Bank Account Transfer if possible.
Is Debit Card cheaper than Credit Card for Spain to Morocco transfers?
Credit Card is cheaper on average when sending money to Morocco from Spain since it costs 4.24% (compared to 4.07% for Credit Card payments, a difference of 0.16 percentage points).
As a result, we recommend that you avoid paying for your transfer to Morocco with a Credit Card.
Which delivery method is cheapest for EUR-MAD money transfers?
Cash Pickup is the cheapest delivery method in Morocco as it costs 4.57% (compared to Bank Deposit at 6.22%, a spread of 1.64 percentage points).
If your recipient in Morocco can accept Cash Pickup, we recommend choosing it as your preferred delivery option for EUR-MAD transfers.
Is Bank Deposit cheaper than Cash Pickup for Spain to Morocco transfers?
Cash Pickup is cheaper for transfers to Morocco given its 6.22% average cost (versus 4.57% for Cash Pickup, a difference of 1.64 percentage points).
To save more, consider choosing the cheapest delivery option for Morocco.
What is the cheapest way to send money from Spain to Morocco?
We evaluated 7 payment and delivery method combinations for Spain to Morocco remittances.
Based on historical data, Credit Card → Bank Deposit is the cheapest combination with 3.03% cost.
At the other end of the spectrum, Bank Account Transfer → Bank Deposit is the most expensive combination at 9.69% cost. That is a difference of 6.65 percentage points between the cheapest and most expensive combinations.
Money transfer providers tend to price payment and delivery methods for Spain to Morocco remittances differently. As you compare options, look for the cheapest payment-delivery method combo to maximize the value of your EUR-MAD transfers.
Does sending more money reduce the cost for Spain to Morocco transfers?
Larger EUR-MAD transfers are cheaper on average.
The cost of a EUR 140 transfer averages 5.09% as compared to 3.52% for a EUR 345 transfer, a difference of 1.57 percentage points.
How long does it take to send money from Spain to Morocco?
Based on our analysis, the average transfer time for EUR-MAD transfers is 14 hours, with the fastest transfers completing in less than one hour and the slowest in 144 hours (~6.0 days).
Are instant transfers available from Spain to Morocco?
Yes, historical data shows that some transfers to Morocco from Spain can complete in less than one hour.
Note that the actual speed of your EUR-MAD transfer will depend on the chosen provider, payment method, delivery method, and eligibility checks.
Are banks more expensive than money transfer companies for Spain to Morocco?
Banks in Spain are more expensive than money transfer providers.
The average cost of banks is 13.84% compared to 4.26% for money transfer providers in Spain, a difference of 9.59 percentage points.
Why do banks charge more for Spain to Morocco transfers?
Bank transfers in Spain cost 13.84% compared to 4.26% for money transfer companies.
The difference is often due to the fact that banks in Spain provider lower exchange rates and charge high wire transfer fees.
How competitive is the Spain to Morocco remittance market?
Based on historical data, the competition level in Spain to Morocco is considered competitive with 13 active providers.
Money transfer providers represent about 84.6% of identified providers in Spain.
Do I risk overpaying if I do not compare providers for Spain to Morocco?
Historically, total EUR-MAD transfer cost has varied by 44.63 percentage points. On a EUR 140 transfer, that can translate to EUR 62.48 in savings.
EUR-MAD exchange rate markup also varies across providers. The average markup spread has been about 20.54 percentage points. On a EUR 140 transfer, that could be EUR 28.76 saved from FX alone.
Fees can also make a big difference in this market, with a difference of about EUR 36.00 across providers.
That is why comparing providers can materially change how much of the EUR you send does your recipient receive in Morocco in Morocco.
Latest EUR to MAD Conversion Rates
Here are some latest EUR to MAD (Euro to Moroccan Dirham) exchange rates for popular conversion amounts*.
| 1 EUR | 10.85 MAD |
| 5 EUR | 54.24 MAD |
| 10 EUR | 108.47 MAD |
| 25 EUR | 271.19 MAD |
| 50 EUR | 542.37 MAD |
| 100 EUR | 1,084.74 MAD |
| 150 EUR | 1,627.11 MAD |
| 200 EUR | 2,169.48 MAD |
| 250 EUR | 2,711.85 MAD |
| 300 EUR | 3,254.22 MAD |
| 400 EUR | 4,338.96 MAD |
| 500 EUR | 5,423.70 MAD |
| 600 EUR | 6,508.44 MAD |
| 700 EUR | 7,593.18 MAD |
| 800 EUR | 8,677.92 MAD |
| 1000 EUR | 10,847.40 MAD |
| 1500 EUR | 16,271.10 MAD |
| 2000 EUR | 21,694.80 MAD |
| 2500 EUR | 27,118.50 MAD |
| 3000 EUR | 32,542.20 MAD |
| 4000 EUR | 43,389.60 MAD |
| 5000 EUR | 54,237.00 MAD |
| 10000 EUR | 108,474.00 MAD |
| 15000 EUR | 162,711.00 MAD |
| 20000 EUR | 216,948.00 MAD |
| 30000 EUR | 325,422.00 MAD |
| 40000 EUR | 433,896.00 MAD |
| 50000 EUR | 542,370.00 MAD |
| 100000 EUR | 1,084,740.00 MAD |
*Based on the Mid-market Exchange Rate
1 Based on 427 pricing observations across 13 firms over the last 5 years for a EUR 140 money transfer from Spain to Morocco. Data Source: The World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org.
How we analyze remittance data?
Insights are derived from the World Bank's Remittance Prices Worldwide dataset, which collects standardized provider pricing information at defined transfer amounts.
We aggregate this data across multiple providers and multi-year periods to calculate averages, medians, and variability measures in order to identify consistent pricing patterns for the Spain to Morocco remittance corridor.
RemitFinder does not modify the underlying World Bank data. The analysis presented here is independently calculated from published datasets and is intended for informational and comparison purposes only.