Sending money to children studying overseas has long been slow and paperwork-heavy. Saham Bank says its new mobile app feature aims to make international student transfers quicker, simpler and fully digital.
Customers can now create a transfer file directly in the app by uploading the required documents. The process is fully remote, includes real-time tracking and is approved within 24 working hours. Once validated, the file stays active for the whole academic year, allowing families to send money in a few clicks whenever needed.
The bank says any transfer made before 2pm will be completed the same day. It says the aim is to help families cover urgent costs such as tuition, rent and everyday living expenses.
The update is part of a wider push towards digital banking. Saham Bank recently made all standard and instant transfers free on its app for customers paying a monthly fee of 35 dirhams. These transfers are unlimited and can be sent to accounts at other banks.
The lender says the changes are designed to lower costs and simplify everyday banking at a time when many households face pressure on purchasing power. The focus is on families with children studying abroad and on reducing administrative steps.
Sending money overseas from Morocco is tightly regulated by the Office des Changes. Families usually need to provide proof of enrolment and housing before funds can be transferred.
Under updated 2026 foreign exchange rules, the monthly student allowance rose to 15,000 dirhams, up from 12,000 in 2024. Banks can also transfer full tuition fees and rent when the correct documents are presented. In the past, some banks required families to repeat checks for each transfer. Saham Bank’s annual digital file aims to remove that step.
The move follows the bank’s acquisition from Société Générale Maroc by the Saham Group, led by Moulay Hafid Elalamy. Since becoming fully Moroccan-owned, the bank has focused on digital services through its nabD platform launched in early 2026.
Analysts say the launch reflects growing competition between banks over mobile apps and transfer fees. The national instant payment system introduced by Bank Al-Maghrib in 2023 made fast transfers possible, but fees slowed adoption.
Rising living costs in Europe and North America, where many Moroccan students study, have made speed a key concern for families. Saham Bank says its same-day cut-off is designed to meet those urgent needs.
