Saham Bank says customers will no longer pay fees for standard or instant bank transfers if they sign up to its monthly plans starting at 35 dirhams.
The bank says the new offer is meant to make everyday banking simpler and remove the extra cost of sending money to other banks. The plans also include a free bank card, 24/7 customer support and a mobile app to manage accounts.
The change comes as instant payments grow in Morocco. The system launched in 2023 under Bank Al-Maghrib and GSIMT allows people to send money between banks in seconds. Many banks still charge between 10 and 30 dirhams per instant transfer. Saham Bank is now removing those fees completely for its subscribers.
Banking packages in Morocco usually depend on the type of card and insurance. Customers often pay account maintenance fees, charges for transfers to other banks and card renewal costs. By offering a flat monthly price with unlimited transfers, the bank is aiming at younger customers and small businesses that move money often.
The move also fits Morocco’s push to bring more people into the formal banking system and reduce the use of cash.
Saham Bank was previously Société Générale Maroc before being bought by Saham Group, led by Moulay Hafid Elalamy.
