Make Payments and Receive Payments in CLP - Chilean Peso
Pay in Chilean Pesos (CLP)
Mondial Change allows you to make international payments in CLP (Chilean Peso) with ease. Manage your Chilean Peso beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not charge exchange commission on your CLP 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 transaction.
Receive Payments in CLP (Chilean Peso)
Mondial Change allows you to receive payments in Chilean Peso (CLP). Payments in CLP are received into a pool account held by one of our partners. This CLP account is provided to you free of charge. It allows you to receive CLP 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 Chilean Peso (CLP) balance. These funds can be reused to make payments in CLP or converted into EUR or any other currency of your choice and repatriated to your bank account.
Do you want to hedge your exchange rate risk on the Chilean Peso (CLP)? Check out our dedicated page for CLP currency hedging.
Mondial Change Answers All Your Questions About Payments in Chilean Pesos (CLP)
What is the timeframe for a CLP payment to be credited to the beneficiary's account?
It generally takes between 1 and 2 business days for a Chilean Peso 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 CLP payments are credited beyond 2 business days to the beneficiary's account.
What are the fees for a payment in Chilean Peso (CLP)?
The fees applied to Chilean Peso (CLP) 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 CLP exchange volume and the number of Chilean Peso payments made during the year.
Are there minimum or maximum amounts for payments in Chilean Peso (CLP)?
Mondial Change and its partners verify that your Chilean Peso flows are consistent with the data declared at account opening and align with your activity 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 payment in Chilean Peso (CLP)?
For CLP payments via the SWIFT network, you need to provide the following information:
• Full name of the beneficiary
• Full address of the beneficiary
• Local account number
• SWIFT code of the beneficiary's bank
• Name and address of the bank
• Reason for payment
Is it possible to modify a payment in Chilean Peso (CLP) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Chilean Peso (CLP) even after it has been sent via SWIFT. If you 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.
Is the Chilean Peso (CLP) account provided to you a bank account and is it nominative?
The Chilean Peso (CLP) account for which we provide you the details is a bank account opened in the name of one of our partners. It is a pool account where all CLP transfers are received. The reconciliation of funds on your CLP balance is generally done with your client account reference. You have a guarantee of segregation of your funds in our partners' books.
Is it possible to retain Chilean Pesos (CLP) in the CLP account provided to you?
You can use this Chilean Peso (CLP) account to receive Chilean Pesos. The currencies will then be credited to your CLP balance opened in our partner's books. The funds can then be reused to issue payments in Chilean Peso or be converted into other currencies.
What are the holidays when payments in Chilean Peso (CLP) cannot be executed?
January 1st: New Year's Day (Año Nuevo)
Variable date: Good Friday (Viernes Santo)
Variable date: Holy Saturday (Sábado Santo)
May 1st: Labor Day (Día del Trabajador)
May 21st: Navy Day (Día de las Glorias Navales)
Variable date: Saint Peter and Saint Paul (San Pedro y San Pablo – often moved to Monday)
July 16th: Feast of the Virgin of Carmen (Virgen del Carmen)
August 15th: Assumption (Asunción de la Virgen)
September 18th: National Day – Independence (Independencia Nacional)
September 19th: Army Day (Día de las Glorias del Ejército)
Variable date: Day of the Encounter of Two Worlds (Encuentro de Dos Mundos – often moved to Monday)
October 31st: Day of Evangelical and Protestant Churches
November 1st: All Saints' Day (Día de Todos los Santos)
December 8th: Immaculate Conception (Inmaculada Concepción)
December 25th: Christmas (Navidad)
History of the Chilean Peso
The Chilean Peso (CLP) has been the official currency of Chile since 1975, when it replaced the escudo in a monetary reform aimed at stabilizing the economy. It is subdivided into 100 centavos, although these sub-units are no longer in circulation today. The CLP reflects Chile's relative economic stability in Latin America and plays a key role in the country's domestic transactions as well as international exchanges.
Monetary Policy of the Chilean Peso
Chile's monetary policy is conducted by the Central Bank of Chile (Banco Central de Chile). Its main objective is to maintain price stability through an inflation targeting regime. The Chilean Peso operates under a floating exchange rate regime, with its value determined by supply and demand in the markets. The Central Bank adjusts interest rates to control inflation, consumption, and investment, and intervenes in the foreign exchange market in case of high volatility to ensure macroeconomic stability.
Characteristics of the Chilean Peso
The Chilean Peso (CLP) is a freely convertible currency, used for both domestic transactions and international exchanges. The absence of centavos in circulation results in systematic rounding to the nearest whole peso. Chilean banknotes are known for their vibrant colors and sophisticated security features. Chile has a modern banking system, with increasing adoption of electronic and mobile payments, particularly in urban areas.