Currency Exchange
The currency in Morocco is the Moroccan Dirham, which is subdivided into 100 qirsh or centimes. ($1 U.S. equals approximately 10 Moroccan Dirhams [MAD].)
The exchange rates are usually set at a fixed rate. The private money changers tend to have longer hours and transactions are usually faster than in Moroccan banks. Bank working hours are generally Monday to Friday 8:30 am to 3:00 pm. Branches in hotels and shopping malls may have longer hours. There are several bank branches and ATMs near the campus.
Money and Banking
Accessing Money
We suggest that you travel with several sources of money (ATM/debit card, credit card, and cash). This will ensure that if one of your means for accessing money fails, you will not be stranded without money. ATM/debit cards can be used to obtain cash if they have a major credit card logo (Visa, MasterCard, Cirrus Network, or Plus Network) on them, but they should not be relied upon exclusively, since they are subject to breakdowns, fraud, and other scams. If you do plan to use debit or ATM cards while overseas, be sure to check with your bank regarding applicable fees. These can be quite steep, but this is the most convenient way to access your funds. Also, be sure to notify your bank and credit card companies that you will be traveling so they do not freeze your account, and to insure that your PIN will work while you are abroad. If you choose to bring cash with you, please examine your bills carefully before departure to make sure they are in good condition.
Bank Cards
CIRRUS, Visa and MasterCard are accepted in Morocco, and you will see signs for them at ATMs in all major Moroccan cities. Check with your bank to make sure your card is activated for overseas use and that your PIN will work overseas. By using ATMs you can get trade exchange rates, some of which may be better than those charged by banks for changing cash. It is recommended that you consult with your bank about the variations and rules or charges for Moroccan branches and carry the phone number of your bank in case you lose your ATM card. There are a couple of ATMs at the airports in both Rabat and Casablanca; you get there after passing through customs.
Credit Cards
Credit cards are accepted at major hotels, expensive restaurants, many shops in the newer part of Rabat, and airline offices. The vast majority of monetary transactions are carried out in cash. Where credit cards are used, the best known are Visa, and MasterCard (American Express is rarely accepted except in fancy resorts/hotels). They are accepted more and more, although not to the same extent as in the U.S.
Emergency Cash
Before you leave, you should discuss with your family a plan for getting more money during the program. The best way to be sent money is to have a family member deposit cash into your bank account which you can then access via an ATM. Western Union is also available.
