Make Payments in BND - Brunei Dollar
Pay in Brunei Dollars (BND)
Mondial Change allows you to make international payments in BND (Brunei Dollar) with ease. Manage your Brunei Dollar beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply an exchange commission on your BND 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 Brunei Dollar (BND)
It is currently not possible to receive payments in BND.
Mondial Change Answers All Your Questions About Payments in Brunei Dollars (BND)
What is the timeframe for a BND payment to be credited to the beneficiary's account?
It generally takes a minimum of 2 business days for a Brunei Dollar transfer to be credited to the beneficiary's account. However, these timeframes are not contractual, and our partners responsible for the execution and routing of payments cannot be held liable if BND 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 have a significant impact on payment receipt times.
What are the fees for a payment in Brunei Dollar (BND)?
The fees applied to transfers in Brunei Dollar (BND) generally range from 0 to 10 euros depending on the agreement with Mondial Change's trading room. The rate primarily depends on your annual BND exchange volume and the number of Brunei Dollar payments made during the year.
Are there minimum or maximum amounts for payments in Brunei Dollar (BND)?
Mondial Change and its partners verify that your Brunei Dollar flows are consistent with the data declared during account opening and consistent with your activity volume to ensure compliance and security. If restrictions apply to 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 payment in Brunei Dollar (BND)?
For BND payments via the SWIFT network, the following information must be provided at a minimum:
• 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 payment in Brunei Dollar (BND) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Brunei Dollar (BND) 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 was not 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.
What are the public holidays when payments in Brunei Dollar (BND) cannot be executed?
January 1st: New Year’s Day
Variable date: Chinese New Year
Variable date: Isra and Mi'raj (Al-Isra' wal Mi'raj)
Variable date: Nuzul Al-Qur'an (Revelation of the Quran)
Variable date: Start of Ramadan (First Day of Ramadhan)
Variable date: Eid al-Fitr – 1st day (Hari Raya Aidilfitri)
Variable date: Eid al-Fitr – 2nd day
May 31st: Royal Brunei Armed Forces Day
Variable date: Eid al-Adha (Hari Raya Aidiladha)
Variable date: Islamic New Year (Hijri New Year)
Variable date: Mawlid (Birth of Prophet Muhammad)
February 23rd: Brunei National Day
July 15th: Sultan’s Birthday
December 25th: Christmas Day (observed by non-Muslims)
History of the Brunei Dollar
The Brunei Dollar (BND) has been the official currency of the Sultanate of Brunei since 1967. It replaced the Malaysian Dollar and is subject to a monetary agreement with Singapore, which guarantees the interchangeability of the BND with the SGD (Singapore Dollar) at par. Issued by the Brunei Monetary Authority (Autoriti Monetari Brunei Darussalam), the BND is subdivided into 100 sen. The banknotes are renowned for their modern design and enhanced security, including polymer substrates.
Monetary Policy of the Brunei Dollar
The Brunei Monetary Authority (AMBD) is responsible for monetary policy. It aims for monetary stability, inflation control, and the fixed parity between the BND and the SGD. The monetary policy is based on a regime of interchangeability and coverage of currency issuance by foreign currency assets. The AMBD also oversees the local banking system, insurance, financial markets, and ensures the international compliance of the Bruneian financial sector.
Features of the Brunei Dollar
The Brunei Dollar (BND) is uniquely fully interchangeable with the Singapore Dollar due to a monetary agreement between the two states. This fixed parity ensures great stability for cross-border payments in Southeast Asia. Although little used outside Brunei and Singapore, the BND is accepted in both countries. It is equipped with advanced security features and enjoys strong local trust. International transfers in BND are possible via SWIFT, notably for trade exchanges and e-commerce payments.