Urgent help needed

Changez

Im a british citizen, Ive transfered £60 000 to Morocco to buy a house but things did not go according to plan. £60,000 was transfered in to Moroccan local currency which is dirham.Now all the have banks refused to transfer my money back to england, the reason is they say according to their law once the money is converted to their local currency it cannot be transfered to any other country. However i was unaware of this law and need help transfering the money back because i got that money by morgatging my house in england. I need to transfer the money back to england to pay back the morgatge because at present i have no means to pay the morgatge payments and i fear my house will be repossesed. Could you advice me please.


Thank you.

tracy1_2

Changez wrote: »

Im a british citizen, Ive transfered £60 000 to Morocco to buy a house but things did not go according to plan. £60,000 was transfered in to Moroccan local currency which is dirham.Now all the have banks refused to transfer my money back to england, the reason is they say according to their law once the money is converted to their local currency it cannot be transfered to any other country. However i was unaware of this law and need help transfering the money back because i got that money by morgatging my house in england. I need to transfer the money back to england to pay back the morgatge because at present i have no means to pay the morgatge payments and i fear my house will be repossesed. Could you advice me please.


Thank you.

mods - please remove this nutter:mad:

dmg24

Not sure why you have called him a nutter?

If you have been to Morocco, you will know that it is not possible to take currency out of the country.

Andy_L

Can you convert it back into sterling, going there in person if necessary

dmg24

Not sure if you are allowed to convert such a large amount, and even if you are, don't expect the full amount back ... their conversion methods do seem a bit dodgy! x

jonesMUFCforever

I know hindsight is a wonderful thing but a little bit of homework would not have gone amiss would it BEFORE sending the money.

Even if OP does manage to get his money back he will lose one hell of a lot on the exchange rate.

The one thing OP has not said is how was he going to be able to repay his English mortgage had the transaction gone through?

Voyager2002

Seek advice from the British Embassy. I am sure that businesses have encountered this kind of problem before. If that fails, give Tony a call and ask him to send a gunboat to force them to give your money back.

Snow_Dog

You could always attempt to purchase £60K of Moroccan Mellow Blend and retail it over here for a profit, failing that it would keep you happy and relaxed for a few years. There is always the difficulty getting it over here though.

dmg24

Voyager2002 wrote: »

Seek advice from the British Embassy. I am sure that businesses have encountered this kind of problem before. If that fails, give Tony a call and ask him to send a gunboat to force them to give your money back.

I can't see what help the Embassy could give, they can't change the law!

tyllwyd

Changez wrote: »

£60,000 was transfered in to Moroccan local currency which is dirham.Now all the have banks refused to transfer my money back to england, the reason is they say according to their law once the money is converted to their local currency it cannot be transfered to any other country.

Maybe you are asking the banks the wrong question - rather than asking to transfer the dirham, have you asked them if they can convert the dirham back into Euros (or some other currency) and then transfer it to the UK? Failing that, in the short term could you travel to Morocco in person and convert a smaller amount into Sterling to help you pay your mortgage here until you can get things sorted for the rest of the money?

Clive_Woody

tracy1 wrote: »

mods - please remove this nutter:mad:

Bit harsh, are we having a bad day?