Today, as in France, the rate banks begin to be discussed.
legitimate question as to the Moroccan for us who live here.
So I hope this roundup will help you choose your bank knowingly.
With a rate of 40% of banking services, Morocco is ranked among the first Arab and African countries. Despite high rates often seen and sometimes unjustified, more and more Moroccan open a bank account to benefit from the power range of services associated therewith.
Since 2006, an agreement between the Professional Group of Banks in Morocco (GPBM) and Bank Al Maghrib provides for free for some basic operations such as opening and closing accounts, issuing checkbooks, sending monthly statements, deposit cash ...
Another obligation concerns the transparency of prices. The banking agencies are required to post their rates in the banking agencies. During my tour of bank branches in Rabat, they showed clearly all these rates, apart from an agency of the CIH, which showed rates obsolete for a few months ... For cons, almost all banks do not display details of bank charges on their websites, with the exception of BMCI and SGMB, even if difficult to find for the latter. A special mention for all the same Credit Agricole, which has no website!
Compare bank rates is not at all easy. Some banks charge of operations per unit, while others also offer their customers banking packages including the most common operations. By choice of simplicity, I chose to ignore these packages, and treat only the rates of operations at the unit.
To make a comparison between the Moroccan banks, I tried to profile the type of customer making a number of operations per year Pay: *
maintenance fee account.
* Visa Classic.
* A traditional transfer off-site every 3 months. * A
cashing checks every two months.
* 2 withdrawals in a bank ATM third month. * An opposition
check per year.
Without sufficient information, I could not include charges for access to web services and charges for direct debits.
Here is an overview of the rates charged by banks compared 7: Banque Populaire (BP), Attijariwafa Bank (AWB), Société Générale Marocaine des Banques (SGMB), Crédit Morocco (CoM), the Banque Marocaine du Foreign Trade (BMCE), the Moroccan Bank for Trade and Industry (BMCI), and Crédit Agricole Morocco (CAM). All these prices are without VAT. Banking Rates Table
Morocco
Banking Rates Graph
It therefore finds that the Banque Populaire (BP) is the cheapest bank, while BMCI is the most expensive depending on what comparison.
These differences were primarily due to reasons of commercial strategy. BP or Credit Agricole Morocco (CAM), have traditionally oriented clientele People wishing to access charged basic services at affordable prices. Others continue to charge higher prices to select customers with more affluent and larger deposits.
It should be noted that other banks such as Banque Postale or the General Treasury of the Kingdom apply even lower prices, but only offer banking services to a minimum. That's why they were not included in this roundup. It is for example not possible to obtain a credit card from these two institutions.
To conclude, it is clear that tariffs remain still high for a country like Morocco, which aims to open bank accounts for 60% of its population in 2013. Many banks in the world today are implementing banking fees very low, do not charge more fees for account maintenance, and apply only to annual fees cardholders. The purpose of these banks is particularly attracting deposits (domiciliary wages for example) and use them for more remunerative activities such as granting of loans or investments in financial markets. Given their outstanding annual financial results, our banks could make an effort, right? Article written by
Omar Elhyani and titrated in Economics & Finance, Morocco, Practice
I recommend the articles on the economy and Morocco in general visit: : www.elhyani.net
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