Make Payments and Receive Payments in BSD - Bahamian Dollar
Pay in Bahamian Dollars (BSD)
Mondial Change allows you to make international payments in BSD (Bahamian Dollar) with ease. Manage your Bahamian Dollar beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply any exchange commission on your BSD operations (a spread is applied on the exchange rate, which slightly degrades the interbank rate on the currency pair traded). Your client rate is always communicated transparently before the validation of each of your transactions.
Receive Payments in BSD (Bahamian Dollar)
Mondial Change allows you to receive payments in Bahamian Dollar (BSD). Payments in BSD are received in a pool account held by one of our partners. This BSD account is provided to you free of charge. It allows you to receive BSD payments from your clients or subsidiaries. Once the funds are received in the pool account, they are reconciled in our partner's books and credited to your Bahamian Dollar (BSD) balance. These funds can be reused to make payments in BSD or can be converted into EUR or any other currency of your choice and repatriated to your bank account.
Do you want to hedge your exchange risk on the Bahamian Dollar (BSD)? Check our dedicated page for BSD currency hedging
Mondial Change Answers All Your Questions About Payments in Bahamian Dollars (BSD)
What is the timeframe for a BSD payment to be credited to the beneficiary's account?
It generally takes between 1 and 2 business days for a Bahamian Dollar transfer to be credited to the beneficiary's account. However, please note that these timeframes are not contractual, and our partners responsible for the execution and routing of payments cannot be held liable if BSD payments are credited beyond 2 business days to the beneficiary's account.
What are the fees for a Bahamian Dollar (BSD) payment?
The fees applied to Bahamian Dollar (BSD) transfers generally range from 0 to 10 euros, depending on the agreement with Mondial Change's trading desk. The rate mainly depends on your annual BSD exchange volume and the number of Bahamian Dollar payments made during the year.
Are there minimum or maximum amounts for Bahamian Dollar (BSD) payments?
Mondial Change and its partners verify that your Bahamian Dollar flows are consistent with the data declared during account opening and consistent with your business volume to ensure compliance and security. If there are restrictions on transaction volumes, they will be communicated to you well in advance of the validation of your operations.
What are the specific rules for executing a Bahamian Dollar (BSD) payment?
For BSD payments via the SWIFT network, simply provide the following information:
• Full name of the beneficiary
• Full address of the beneficiary
• Local account number
• SWIFT code of the beneficiary's bank
Is it possible to modify a Bahamian Dollar (BSD) payment after it has been executed?
Yes, it is possible with some of our partners to modify a Bahamian Dollar (BSD) payment even after it has been sent in SWIFT. If you have, for example, made an error in the beneficiary's name or account number, the correction is made through a SWIFT amendment. If the payment has not been executed via the SWIFT network, then it is not possible to make such amendments, and you must wait for the payment to be returned if applicable.
Is the Bahamian Dollar (BSD) account provided to you a bank account, and is it nominative?
The Bahamian Dollar (BSD) account for which we provide you with the details is a bank account opened in the name of one of our partners. It is a pool account where all BSD transfers are received. The reconciliation of funds on your BSD balance is generally done with your client account reference. You have a guarantee of segregation of your funds in the books of our partners.
Is it possible to hold Bahamian Dollars (BSD) in the BSD account provided to you?
You can use this Bahamian Dollar (BSD) account to receive Bahamian Dollars. The currencies will then be credited to your BSD balance opened in our partner's books. The funds can then be reused to make Bahamian Dollar payments or be converted into other currencies.
What are the holidays when Bahamian Dollar (BSD) payments cannot be executed?
January 1st: New Year’s Day
3rd Monday in January: Major Cecil Wallace-Whitfield Day (varies according to calendar)
Variable date: Good Friday
Variable date: Easter Monday
July 10th: Independence Day
1st Monday in October: Labour Day
Second Friday in December: National Heroes’ Day (varies according to calendar)
December 25th: Christmas Day
December 26th: Boxing Day
History of the Bahamian Dollar
The Bahamian Dollar (BSD) has been the official currency of the Bahamas since 1966, replacing the Bahamian Pound. It is issued by the Central Bank of the Bahamas and subdivided into 100 cents. The Bahamian Dollar is pegged to the US Dollar at a fixed parity (1 BSD = 1 USD), facilitating trade and tourism exchanges with the United States. BSD banknotes are colorful, modern, and reflect the cultural and natural richness of the archipelago.
Monetary Policy of the Bahamian Dollar
The Central Bank of the Bahamas is responsible for monetary policy. Its main objective is to maintain monetary stability and the fixed parity between the BSD and the USD. It regulates the money supply through key interest rates, reserve requirements, and banking supervision. The Bahamian economy is very open and dependent on tourism and offshore finance, so monetary policy aims to ensure investor confidence while ensuring the availability of foreign currencies for imports and trade.
Features of the Bahamian Dollar
The Bahamian Dollar (BSD) is closely linked to the US Dollar through a fixed parity, making it a stable currency widely accepted in local markets. Although the BSD is not internationally convertible, transfers via SWIFT are possible for commercial and personal needs. BSD banknotes are equipped with advanced security technologies, including special inks, watermarks, and embossed printing. The country has also launched the Sand Dollar, the first national digital currency in the Caribbean region.