Make Payments in BBD - Barbadian Dollar
Pay in Barbadian Dollars (BBD)
Mondial Change allows you to make international payments in BBD (Barbadian Dollar) with ease. Manage your Barbadian Dollar beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply exchange commission on your BBD operations (a spread is applied to 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 Barbadian Dollar (BBD)
It is currently not possible to receive payments in BBD.
Mondial Change Answers All Your Questions on Payments in Barbadian Dollars (BBD)
What is the timeframe for a BBD payment to be credited to the beneficiary's account?
It generally takes a minimum of 2 business days for a Barbadian 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 BBD payments are credited beyond 2 business days to the beneficiary's account. External events such as processing delays by intermediary banks, public holidays, execution time, or compliance checks can significantly impact payment receipt times.
What are the fees for a payment in Barbadian Dollar (BBD)?
The fees applied to Barbadian Dollar (BBD) transfers generally range from 0 to 10 euros, depending on the agreement with Mondial Change's trading desk. The rate primarily depends on your annual BBD exchange volume and the number of Barbadian Dollar payments made throughout the year.
Are there minimum or maximum amounts for payments in Barbadian Dollar (BBD)?
Mondial Change and its partners verify that your Barbadian Dollar flows are consistent with the data declared during account opening and align with your activity volume to ensure compliance and security. If transaction volume restrictions apply, they will be communicated to you well in advance of the validation of your operations.
What are the specific rules for executing a payment in Barbadian Dollar (BBD)?
For BBD payments via the SWIFT network, the following information must be provided at a minimum:
• Full name of the beneficiary
• Complete address of the beneficiary
• Local account number
• SWIFT code of the beneficiary's bank
Is it possible to modify a payment in Barbadian Dollar (BBD) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Barbadian Dollar (BBD) even after it has been sent via 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 was not executed via the SWIFT network, then such amendments are not possible, and you must wait for the payment to be returned if applicable.
What are the public holidays when payments in Barbadian Dollar (BBD) cannot be executed?
January 1st: New Year’s Day
January 21st: Errol Barrow Day
Variable date: Good Friday
Variable date: Easter Monday
April 28th: National Heroes Day
May 1st: Labour Day
Variable date: Whit Monday
August 1st: Emancipation Day
Variable date (1st Monday of August): Kadooment Day
November 30th: Independence Day
December 25th: Christmas Day
December 26th: Boxing Day
History of the Barbadian Dollar
The Barbadian Dollar (BBD) has been the official currency of Barbados since 1973, replacing the former East Caribbean Dollar. It was introduced to support the country's economic autonomy post-independence. The BBD is subdivided into 100 cents. It is issued by the Central Bank of Barbados, which oversees the national monetary system. The Barbadian Dollar is widely used in domestic transactions, whether by residents, local businesses, or foreign visitors.
Monetary Policy of the Barbadian Dollar
The Central Bank of Barbados (CBB) is responsible for the monetary policy of the Barbadian Dollar (BBD). Its primary objective is to ensure price stability, control inflation, and promote economic growth. The BBD is pegged to the US Dollar at a fixed rate of 2 BBD to 1 USD. This fixed exchange system is supported by sufficient foreign exchange reserves and prudent control of the money supply. The central bank uses instruments such as key interest rates, reserve requirements, and occasional interventions in the foreign exchange market.
Characteristics of the Barbadian Dollar
The Barbadian Dollar (BBD) is a stable regional currency, closely linked to the US Dollar by a fixed parity. Although it is not freely convertible internationally, it is fully functional for cross-border exchanges via SWIFT. BBD banknotes and coins are recognizable by their colorful design highlighting national symbols. Barbados has a developed banking system, aligned with international standards, making BBD payments efficient, especially for the tourism, import/export, and digital services sectors.