Make Payments and Receive Payments in CAD - Canadian Dollar
Pay in Canadian Dollars (CAD)
Mondial Change allows you to make international payments in CAD (Canadian Dollar) with ease. Manage your Canadian Dollar beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not charge exchange commission on your CAD 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 Canadian Dollar (CAD)
Mondial Change allows you to receive payments in CAD (Canadian Dollar). Payments in CAD are received in an account in your name with a dedicated IBAN. This CAD account with a nominative IBAN is provided to you free of charge. It allows you to receive payments in CAD from your clients or subsidiaries and also to hold Canadian Dollars. The CAD can be reused to make payments in CAD. The CAD can also be converted into EUR or any other currency of your choice and repatriated to your bank account. The Canadian Dollar (CAD) account can be located in France or other countries (see possible locations).
Do you want to hedge your exchange risk on the Canadian Dollar (CAD)? Check our dedicated page for CAD exchange hedging.
Mondial Change Answers All Your Questions on Canadian Dollar (CAD) Payments
What is the timeframe for a CAD payment to be credited to the beneficiary's account?
It generally takes between 1 and 2 business days for a Canadian Dollar transfer to be credited to the beneficiary's account. However, please note that these timeframes are not contractual, and our partners responsible for executing and routing payments cannot be held liable if CAD payments are credited beyond 2 business days to the beneficiary's account.
What are the fees on a Canadian Dollar (CAD) payment?
The fees applied to Canadian Dollar (CAD) transfers generally range from 0 to 10 euros depending on the agreement made with Mondial Change's trading room. The rate mainly depends on your annual CAD exchange volume and the number of Canadian Dollar payments made during the year.
Are there minimum or maximum amounts for Canadian Dollar (CAD) payments?
Mondial Change and its partners verify that your Canadian 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 Canadian Dollar (CAD) payment?
For CAD payments, you need to provide, at your choice, one of the following groups of information:
• Full name of the beneficiary, Account number, SWIFT/BIC code, Beneficiary's address
• Full name of the beneficiary, Account number, Transit number, SWIFT code, Beneficiary's address
• Full name of the beneficiary, Account number, Transit number, Bank name, Bank address, Beneficiary's address
Is it possible to modify a Canadian Dollar (CAD) payment after it has been executed?
Yes, it is possible with some of our partners to modify a Canadian Dollar (CAD) 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 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.
Is the Canadian Dollar (CAD) account provided to you a bank account and is it nominative?
The Canadian Dollar (CAD) account for which we provide you the details is not a bank account per se because the account holder is not a bank but a partner payment institution. These accounts are labeled in your name, and the IBAN attached to the account is unique. You thus have a guarantee of segregation of your funds in the books of our partners. 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 Canadian Dollar (CAD) account for more information.
Is it possible to hold Canadian Dollars (CAD) in the CAD account provided to you?
You can use this Canadian Dollar (CAD) account to receive or store Canadian Dollars. The funds can then be reused to make Canadian Dollar payments or be converted into other currencies. The account is also compatible for receiving CAD payments from e-commerce platforms like Amazon or payment systems like Adyen or Stripe.
What are the holidays when Canadian Dollar (CAD) payments cannot be executed?
January 1st: New Year’s Day
Variable date: Good Friday
Variable date (Monday preceding May 25th): National Patriots’ Day / Victoria Day
July 1st: Canada Day
Variable date (1st Monday of September): Labour Day
Variable date (2nd Monday of October): Thanksgiving
November 11th: Remembrance Day (according to province)
December 25th: Christmas Day
History of the Canadian Dollar
The Canadian Dollar (CAD) is the official currency of Canada, a country located in North America. As the national currency, the Canadian Dollar plays a crucial role in the country's economic and financial transactions. Its currency code, CAD, is commonly used to facilitate exchanges and transactions both nationally and internationally. The Canadian Dollar is issued by the Bank of Canada, which is responsible for regulating and supervising the country's financial and monetary system. The value of the Canadian Dollar is influenced by economic factors such as inflation, interest rates, general economic conditions, and international market fluctuations. The Canadian Dollar is widely accepted throughout the country and is considered one of the most stable currencies in the world.
Monetary Policy of the Canadian Dollar
The Bank of Canada is responsible for the monetary policy of the Canadian Dollar (CAD). Its primary objective is to maintain price stability and promote sustainable economic growth. To achieve these objectives, the Bank of Canada closely monitors factors such as inflation, economic growth, interest rates, and market conditions. It uses tools such as setting interest rates and regulating the money supply to influence the economy and maintain monetary stability. Global economic developments and international market fluctuations are also taken into account in its decisions. Through a prudent and balanced monetary policy, the Bank of Canada seeks to create an environment conducive to economic stability and confidence in the Canadian Dollar.
Particularity of the Canadian Dollar
The Canadian Dollar (CAD) has particularities that distinguish it from other currencies. Firstly, as the official currency of Canada, it benefits from the reputation of a stable and strong economy. This makes it an attractive currency for investors and travelers. Moreover, the Canadian Dollar is often considered a "commodity currency" due to its high liquidity on international financial markets. It is widely accepted and used in international transactions. Another particularity of the Canadian Dollar lies in its correlation with commodity prices, such as oil and metals. Given the importance of these natural resources in the Canadian economy, fluctuations in commodity prices can influence the value of the Canadian Dollar. Finally, issued by the Bank of Canada, the Canadian Dollar benefits from the regulation and supervision of an essential institution in the country's financial and monetary system.