Finding US and European clients is a familiar struggle for many remote workers and businesses, but getting paid efficiently is a whole different ball game. Importantly, how you manage your international payments determines how much of your income you actually keep. High fees, payment delays, and forced currency conversions can be frustrating and reduce your earnings if you don’t plan how to receive your payment efficiently. Here are your top options for receiving payments from US and European clients.
Also read: Highest-paying remote jobs for professionals in Morocco
One reason many US and European clients might be hesitant to work with Moroccans is payment challenges. It would be easier to pay via local bank transfers such as ACH (US) or SEPA (Europe). Unfortunately, Moroccan bank accounts don’t support these systems directly. Payments are usually routed through international wire transfers. And while this option can be reliable, international wire transfers are slow and expensive. Sometimes, intermediary banks also add their own charges. As soon as the money reaches your account, it is converted to MAD at an unfair exchange rate.
Here are some of the most popular options for receiving international payments in Morocco, with their benefits and shortcomings.
Despite high fees, slow payment processing, and forced conversion at unfavourable exchange rates, SWIFT transfers to Moroccan banks remain very popular, especially for larger payments and regular salaries. It seems to be a ‘more official’ payment option for international clients.
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The arrival of digital payment platforms like Payoneer and PayPal tilted the odds in favour of Moroccans working with US and European clients. These services simplify international transactions and are faster than bank transfers.
Unfortunately, they also have drawbacks. Between high platform fees, withdrawal charges, and markups on exchange rates, many users end up losing a huge fraction of their income. Digital platforms are also prone to restrictions and account suspensions.
Also read: Wise vs PayPal vs Payoneer: which works better for Moroccans?
Multi-currency accounts are now becoming the mainstay of cross-border payments in Morocco. Various fintech platforms let you have bank details in USD, EUR or GBP, allowing clients to pay you as if you were based in the US or Europe. You can receive payments via ACH or SEPA, keep the money in foreign currency, and convert to dirhams whenever you wish. This option significantly reduces transaction fees, speeds up international payments, and gives you control over your earnings.
Also read: How freelancers in Morocco can receive payments from US, UK & EU clients
If you are looking for the most efficient way to manage your international earnings, you should consider Grey. The payment solution is designed to help Moroccans swiftly receive payments in USD, GBP, and EUR at low costs. You can keep your income in foreign currency and withdraw to your local MAD bank at competitive exchange rates. Users can also access a virtual USD debit card for seamless online payments and automate their invoicing in various currencies.
Sign up on Grey’s website or download the mobile app to manage your international income efficiently.
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