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: The saving AccountTypes of Bank Accounts In Morocco

Types of Bank Accounts In Morocco are quite similar to US bank accounts, European banks and the rest of the world.

check the original article in Arabic (انواع الحسابات البنكية ) it have all the answers for Arabic speaking persons and more explanations untill the english version is completely writen.

You may think that all accounts are the same, but it is not true because, there are alot more than checking accounts and savings account.

The bank you have to choose in Morocco and the account type you will be holding depends on certain characteristics in order to fit your needs and expectations.

What’s the best bank in Morocco ?Which bank offers best advantages for managing your wealth and income for you and your family?

In general, it is not only a matter of selecting which type of account you need to open, savings, checking or investing accounts ?

To claim the best features, you must know each bank advantages and learn to be familiar with all the Moroccan financial vocabulary and take advantage as much as possible from the ease of services provided by your bank.

Our goal is to help choose, not to judge your choices , because the definition of goals varies for each.

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What is required to open a Moroccan bank account if you are Moroccan ?

The national ID ( or C.I.N. in french )  is generally sufficient to open a bank account for the moment.

The ID is not sufficient to open an account for a minor, because opening a child’s savings account is not Allowed.

As most countries , Moroccan Banks require the child to reach the legal age of eighteen years to have its own account.

Which means that  bank consider it as minor, preventing him from managing his account, unless the legal guardian signs the approval.

The legal guardian is the father, the mother can sign consent if the father die, God forbid.

 

How to open an account in a Moroccan bank ?

The way to open an account in Moroccan banks changed this days, because the use of modern technology and went Hi-tech.

 

A saving account can be opened remotely, filling out forms, downloading information and confirming your identity once present in the bank branch you’ve chosen.

If you have a Moroccan Identity, you can check the bank branch you want to sign up with using the bank GPS system.

Or, you can ask a family member to visit the bank branch and ask for its code before we give you the list of Moroccan banks in United States of America.

Savings account in Morocco

What is the benefit of a savings account ?

A savings account is that the account will be allocated for savings only and not for commercial transactions, online payments, loans,online banking or to have a credit card.

This account does not give its owner the right to obtain debit cards, check …etc.

This type of account is a traditional type compared to the checking account.

The saving account in morocco is maintained only by the owner and a mondatory person only.

It can’t be joined account or a business account it is just for personal use.