Open an AUD Account - Australian Dollar
The Benefits of an AUD (Australian Dollar) Account with Mondial Change
Opening an AUD (Australian Dollar) account is free and very quick. By opening this account through Mondial Change, you enjoy the following benefits:
- No account maintenance fees
- No transaction fees
- An account with a unique personalized IBAN
- An account opened with an accredited partner institution within the European Union
- The account can be located in different countries according to your needs (see the list below), including France or Australia
Services Available with the Opening of an AUD (Australian Dollar) Account
- You can receive payments in AUD from around the world and allow your subsidiaries or clients based in Australia to pay you in their local currency
- You can hold your AUD (Australian Dollar) in the account
- You can reuse your AUD (Australian Dollar) to make payments and pay beneficiaries in AUD
- You can convert your AUD (Australian Dollar) to any other major currency at very competitive rates
- Your deposits in AUD (Australian Dollar) can earn cashback credited monthly to your AUD account
* Cashback is reserved for certain clients under conditions and is only available for accounts opened with our partner Ebury. Please contact us for more information.
Mondial Change Answers All Your Questions About AUD - Australian Dollar Accounts
How to open an AUD (Australian Dollar) account?
Opening an account is very simple.
- Send us your request to open an AUD account via the form on the left or through the account opening form. We will contact you to schedule a phone call to better understand your needs regarding AUD flows.
- Following this exchange, we assist you with the administrative formalities to access the services of one of our partners, selected based on your needs. We remain your sole point of contact for the entire client relationship.
- Once access to the services is validated, you can request the opening of your Australian Dollar account and any other eligible currency. Your AUD account banking details are generally provided within minutes, and you can start receiving and making payments in AUD (Australian Dollar).
- If your business evolves and you have needs in other currencies, you can request the addition of an account in another currency at any time.
What are the fees associated with opening an AUD (Australian Dollar) account?
Access to our services and the provision of currency accounts are completely free. Our remuneration is solely based on the exchange rate applied to your purchases/sales of Australian Dollars. This exchange rate is always communicated transparently before the validation of your transactions.
Is the AUD (Australian Dollar) account a personalized bank account?
The Australian Dollar (AUD) account for which we provide the details is not a bank account in the strict sense because the account-holding institution is not a bank but a partner payment institution. These accounts are labeled in your name, and the IBAN linked to the account is unique. Thus, you have a guarantee of fund segregation in our partners' books. The security guarantees for your funds are similar to those offered by traditional banks. The account can be located in different countries according to your operational needs. Please consult the page related to opening an Australian Dollar (AUD) account for more information.
In which countries can the AUD (Australian Dollar) account be located?
It may be useful for your AUD (Australian Dollar) account to be located in France or, conversely, in another country, depending on your operational needs and the location of your clients. That is why we allow great flexibility in the location of currency accounts. The AUD (Australian Dollar) account can be located in the following countries of your choice:
- France
- Australia
- United Kingdom
- Belgium
- Netherlands
You can consult the updated table of possible locations for AUD (Australian Dollar) accounts here: account locations
Is it possible to hold AUD (Australian Dollar) in the AUD account?
You can use this Australian Dollar account to receive or store AUD as long as your account is active. You are automatically notified by email each time an Australian Dollar transfer is received in your AUD account. You can then freely reuse these AUD to make payments in AUD to your suppliers or convert your Australian Dollars, benefiting from very competitive exchange rates. There is no obligation to move funds on the accounts.
How does the cashback work that remunerates funds left in the AUD (Australian Dollar) account?
Cashback is reserved for some of our clients to remunerate them on the Australian Dollar funds they hold with our partner Ebury. Your account manager can provide you with the cashback rate applicable to your account. Cashback rates evolve notably based on changes in the Reserve Bank of Australia's key interest rate. Cashback is calculated monthly and credited every month to your account.
Is the AUD (Australian Dollar) account compatible for receiving AUD from marketplaces like Amazon or collection systems like Paypal?
Foreign currency payment collection systems like Adyen, Stripe, Paypal, Hipay, or internal marketplace systems like Amazon Pay are widely used by companies conducting international transactions. These systems are efficient, but if you do not have an account in the collected foreign currency, your income in that currency is automatically converted to euros at often very unfavorable exchange rates. Even when you have a bank account in the collected currency, this account often needs to be located in the country where the sale occurs, which can be complicated with a traditional bank. Some of our partners offer currency accounts compatible with most marketplaces and collection systems.
Besides AUD (Australian Dollar), what other currencies are available for account opening?
You can find all eligible currencies for opening a currency account by visiting this page.
Can checks, cash, or funds present in my AUD (Australian Dollar) account be used with a bank card?
It is not possible to deposit checks or cash into your AUD (Australian Dollar) account. Only bank transfers are accepted for transactions on the account. No bank card can be linked to the account at the moment.
Are account statements listing all transactions in AUD (Australian Dollar) available?
Account statements detailing all operations in Australian Dollars are downloadable at any time from the online interface. These statements include maximum information on beneficiaries, the origin of funds, related exchange operations, to facilitate your accounting department's work.
Can the entries of the AUD (Australian Dollar) account be integrated into an ERP or TMS like SAP, SAGE, AGICAP, or Kyriba?
All account statements can be automatically integrated into your treasury software or ERP via MT940 files. Thus, you find all movements in AUD (Australian Dollar) in your software, and you do not even need to connect to our online interface to obtain the up-to-date balance of your AUD (Australian Dollar) account. Our technical teams can also automate the processing of currency payment files provided by your TMS / ERP.