Make Payments in XCD - Eastern Caribbean Dollar
Pay in Eastern Caribbean Dollars (XCD)
Mondial Change allows you to make international payments in XCD (Eastern Caribbean Dollar) with ease. Manage your Eastern Caribbean Dollar beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply exchange commission on your XCD 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 Eastern Caribbean Dollar (XCD)
It is currently not possible to receive payments in XCD.
Mondial Change Answers All Your Questions About Payments in Eastern Caribbean Dollars (XCD)
What is the timeframe for an XCD payment to be credited to the beneficiary's account?
It generally takes a minimum of 2 business days for an Eastern Caribbean 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 XCD 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 Eastern Caribbean Dollar (XCD)?
The fees applied to transfers in Eastern Caribbean Dollar (XCD) generally range from 0 to 10 euros depending on the agreement with Mondial Change's trading room. The rate mainly depends on your annual XCD exchange volume and the number of Eastern Caribbean Dollar payments made during the year.
Are there minimum or maximum amounts for payments in Eastern Caribbean Dollar (XCD)?
Mondial Change and its partners verify that your Eastern Caribbean 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 Eastern Caribbean Dollar (XCD)?
For XCD payments via the SWIFT network, at least the following information must be provided:
• Full name of the beneficiary
• Full address of the beneficiary
• Local account number
• SWIFT code of the beneficiary bank
Is it possible to modify a payment in Eastern Caribbean Dollar (XCD) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Eastern Caribbean Dollar (XCD) 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.
What are the public holidays when payments in Eastern Caribbean Dollar (XCD) cannot be executed?
January 1st: New Year’s Day
Variable date: Good Friday
Variable date: Easter Monday
May 1st: Labour Day
Variable date (Monday after Pentecost): Whit Monday / Pentecost Monday (observed in some states)
August 1st: Emancipation Day
Variable date: National Day / Independence Day (varies by country)
December 25th: Christmas Day
December 26th: Boxing Day
History of the Eastern Caribbean Dollar
The Eastern Caribbean Dollar (XCD) is the official currency of eight Caribbean territories, including Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Anguilla, and Montserrat. It was created in 1965 to replace the West Indies Dollar. The XCD is issued by the Eastern Caribbean Central Bank (ECCB), which manages the monetary policy of the region. The currency has been pegged to the US Dollar (USD) at a fixed rate for several decades.
Monetary Policy of the Eastern Caribbean Dollar
The Eastern Caribbean Central Bank (ECCB) is responsible for monetary policy in the member states. Its primary objective is to maintain monetary and financial stability while promoting sustained economic growth. The fixed parity with the US Dollar is a cornerstone of this stability. To achieve its objectives, the ECCB uses various tools, including interest rates, reserve requirements, and open market operations. The central bank also plays an active role in regional banking supervision.
Features of the Eastern Caribbean Dollar
The XCD is one of the few successful examples of a monetary union in a developing region. Thanks to its stability and anchorage to the US Dollar, it inspires confidence among investors and facilitates regional trade. XCD banknotes depict the culture and historical figures of the region. Its centralized management allows small member states to benefit from a coordinated monetary policy, enhancing their resilience to external economic shocks.