Mondial Change Answers All Your Questions About AED Accounts - United Arab Emirates Dirham
How to open an AED (United Arab Emirates Dirham) account?
Opening an account is very simple.
- Send us your request to open an AED account via the form on the left or through the account opening form. We will contact you to schedule a phone call to fully understand your needs regarding AED flows.
- Following this exchange, we assist you with the administrative formalities to open access to 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 United Arab Emirates Dirham account and any other eligible currency. Your AED account banking details are generally provided within minutes, and you can start receiving and making payments in AED (United Arab Emirates Dirham).
- 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 AED (United Arab Emirates Dirham) 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 United Arab Emirates Dirhams. This exchange rate is always communicated transparently before your transactions are confirmed.
Is the AED (United Arab Emirates Dirham) account a personalized bank account?
The United Arab Emirates Dirham (AED) account for which we provide the details is not a bank account per se 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. You thus have a guarantee of segregation of your funds 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 a United Arab Emirates Dirham (AED) account for more information.
In which countries can the AED (United Arab Emirates Dirham) account be located?
It may be useful for your AED (United Arab Emirates Dirham) account to be located in France or, conversely, in another country, depending on your operational needs and the location of your clients. This is why we allow great flexibility in the location of currency accounts. The AED (United Arab Emirates Dirham) account can be located in the following countries of your choice:
- France
- United Arab Emirates
- United Kingdom
- Belgium
- Netherlands
You can view the updated table of possible AED (United Arab Emirates Dirham) account locations here: account location
Is it possible to hold AED (United Arab Emirates Dirham) in the AED account?
You can use this United Arab Emirates Dirham account to receive or store AED for as long as you wish, as long as your account is active. You are automatically notified by email each time a United Arab Emirates Dirham transfer is received in your AED account. You can then freely reuse these AED to make AED payments to your suppliers or convert your United Arab Emirates Dirhams, benefiting from very competitive exchange rates. You have no movement obligation on the accounts.
Is the AED (United Arab Emirates Dirham) account compatible for receiving AED 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 a often very unfavorable exchange rate, and even when you have a bank account in the collected currency, this account often needs to be located in the country where the sale is made, which can be complicated with a traditional bank. Some of our partners offer currency accounts compatible with most marketplaces and collection systems.
Apart from AED (United Arab Emirates Dirham), what other currencies are available for account opening?
You can find all eligible currencies for currency account opening by visiting this page.
Can checks, cash be deposited, or can the funds in my AED (United Arab Emirates Dirham) account be used with a bank card?
It is not possible to deposit checks or cash into your AED (United Arab Emirates Dirham) account. Only bank transfers are accepted for transactions on the account. No bank card can be linked to the account at this time.
Are account statements listing all transactions in AED (United Arab Emirates Dirham) available?
Account statements detailing all operations in United Arab Emirates Dirhams 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 the work of your accounting department.
Can AED (United Arab Emirates Dirham) account entries 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. You will find all AED (United Arab Emirates Dirham) movements in your software, and you do not even need to log into our online interface to obtain the up-to-date balance of your AED account. Our technical teams can also automate the processing of currency payment files provided by your TMS / ERP.