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I'm travelling to Marrakesh next week for a motorcycle trip. The rental does not accept credit card and ask me for a deposit of a 1000 Euros. Since I'm Canadian, withdrawing 1000 Euros temporarily and depositing it back 1 week later will cost me a lot in currency exchange fees. Any advise on how to avoid paying these unnecessary fees?

  • This is exactly what I'm used to with other rentals I've been. However, accepting credit cards isn't the norm in Morocco so this is sadly not possible. – Laurent Jalbert Simard Feb 17 at 23:05
  • a trusted friend with a euro account would be useful... – Aganju Feb 17 at 23:56
  • I believe some currency exchange services have a “buy back” guarantee where they buy whatever you have left at the original rate. Never used such a service so no idea how easy to find this may be or whether there are any gotchas. An alternative is simply to find a card with no currency exchange spread or withdrawal fees, or the lowest possible ones. But that would only help for the initial withdrawal, not the later deposit. Unless you have a way to spend those 1000 euros afterwards... – jcaron Feb 18 at 1:15
  • Have you considered obtaining a motorbike from someone else that does put the deposit on a credit card? – Michael Hampton Feb 18 at 1:57
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At the current market rate, €1000 is worth CAD 1434. I would ask the rental company whether they would consider accepting a deposit of CAD 1500 or 1600. Whatever amount you choose, it should be at least high enough that they will end up with more than €1000 after they change it. Their side of the agreement is that they won't actually change the money unless the need arises for them to retain part of the deposit. If you return the vehicle undamaged, they return your deposit to you in the original currency, in full. If they need to keep some of the deposit, they change the necessary portion only and return the balance to you in CAD.

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You can ask whether you can leave another form of deposit, you could leave a document, credit/debit card with little/no money on it or something else valuable.

  • Thank you for the suggestion, sadly I've already asked them for alternatives but they were pretty firm on the deposit method. – Laurent Jalbert Simard Feb 17 at 22:57
  • @LaurentJalbertSimard how about finding a good exchange rate at home, and then selling the money back – Daniil Manokhin Feb 17 at 22:58
  • Yes that's my backup plan. I'm still looking for a more creative way of avoiding this double fee. Thanks again for the suggestion. – Laurent Jalbert Simard Feb 17 at 23:07

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