What types of beneficiaries can I transfer MAD to?
You can send MAD payments to individual and business accounts in Morocco.
Payment Types
MAD transfers are sent via local transfer.
Name Checks
No name verification is required for MAD transfers.
Is there a limit on the amount I can send?
Transfer Limit: MAD 270,000 per transfer
How long does it take for the funds to reach the beneficiary?
Cut-off Times: 10:50 PM SGT (Singapore Time)
Delivery Estimate:
Banque Centrale Populaire: Typically 1 business day (T+1) after currency conversion is completed
Other banks: Typically 2 business days (T+2) after currency conversion is completed
Notes:
Currency conversion can take up to 2 business days from the time your transfer is approved.
No payouts are processed during weekends or Morocco public holidays.
Transfers submitted after the cut-off times will be processed at the next available window.
What will the sender's name be reflected as?
Your business name will be displayed as the sender on the recipient's bank statement.
What information should I include when sending MAD transfers?
Recipient and Transfer Details:
When initiating the transfer in the Aspire app, Admin and Finance Users will be asked to provide:
Recipient's full name or business name:
Maximum 35 characters
Latin alphabet only (a-z)
Account number (RIB): 24 digits
Format includes: Bank code + City/branch code + Account number + RIB key
Payment reference: Up to 50 characters (sent via email to the recipient, forwarded only once)
Traces and Recalls
Traces: Trace requests are not supported.
Recalls: Recall requests are supported. You will need to provide the recipient's bank statement to initiate a recall request.
To request a recall, contact the Aspire Support Team via the Aspire app.
Bounceback
If your transfer is rejected by the recipient's bank, the funds will be returned to your Aspire account. The timeline varies depending on the recipient's bank processing time.
Questions? Chat with us by clicking on the messenger icon at the bottom right of the screen once you are logged in.