Make Payments in ETB - Ethiopian Birr
Pay in Ethiopian Birr (ETB)
Mondial Change allows you to make international payments in ETB (Ethiopian Birr) with ease. Manage your Ethiopian Birr beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply any exchange commission on your ETB operations (a spread is applied to the exchange rate, which slightly degrades the interbank rate on the currency pair traded). Your customer rate is always communicated transparently before the validation of each of your transactions.
Receive Payments in Ethiopian Birr (ETB)
It is currently not possible to receive payments in ETB.
Do you want to hedge your exchange rate risk on the Ethiopian Birr (ETB)? Check out our dedicated page for ETB currency hedging.
Mondial Change Answers All Your Questions About Payments in Ethiopian Birr (ETB)
What is the timeframe for an ETB payment to be credited to the beneficiary's account?
It generally takes a minimum of 2 business days for an Ethiopian Birr 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 ETB 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 the payment receipt timeframes.
What are the fees for a payment in Ethiopian Birr (ETB)?
The fees applied to transfers in Ethiopian Birr (ETB) generally range from 0 to 10 euros, depending on the agreement with Mondial Change's trading desk. The rate primarily depends on your annual ETB exchange volume and the number of Ethiopian Birr payments made during the year.
Are there minimum or maximum amounts for payments in Ethiopian Birr (ETB)?
Mondial Change and its partners verify that your Ethiopian Birr flows are consistent with the data declared during 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 Ethiopian Birr (ETB)?
For ETB 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
• Reason for payment
Is it possible to modify a payment in Ethiopian Birr (ETB) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Ethiopian Birr (ETB) 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 Ethiopian Birr (ETB) cannot be executed?
January 7: Orthodox Christmas (Genna)
January 19: Timkat (Orthodox Epiphany)
Variable date: Eid al-Fitr
Variable date: Orthodox Good Friday (Siklet)
Variable date: Orthodox Easter (Fasika)
May 1: Labor Day
Variable date: Eid al-Adha
May 5: Patriots’ Victory Day
May 28: Derg Downfall Day
Variable date: Islamic New Year (Hijri New Year)
September 11: Ethiopian New Year (Enkutatash)
September 27: Meskel (Finding of the True Cross)
Variable date: Mawlid (Birth of Prophet Mohammed)
History of the Ethiopian Birr
The Ethiopian Birr (ETB) has been the official currency of Ethiopia since the 1940s. It replaced the Maria Theresa thaler and other foreign currencies previously in circulation in the country. The word "birr" means "money" in Amharic. The Birr is subdivided into 100 santim, although these sub-units are rarely used in daily transactions due to inflation. It is issued and regulated by the National Bank of Ethiopia, which also controls the national money supply.
Monetary Policy of the Ethiopian Birr
The National Bank of Ethiopia is the authority responsible for the country's monetary policy. Its mission is to maintain price stability, oversee the banking system, and promote sustained economic growth. In response to recurring inflationary pressures, it uses instruments such as interest rates, money supply regulation, and exchange controls. Ethiopia maintains a managed exchange rate regime, with restricted access to foreign currencies and an official exchange rate controlled by the Central Bank.
Characteristics of the Ethiopian Birr
The Ethiopian Birr (ETB) is a non-convertible currency internationally and is subject to strict control by the National Bank of Ethiopia. It is used only within the country, and its export is prohibited. Foreign currency operations must be authorized by financial authorities. Birr banknotes are equipped with security features such as watermarks and special inks. Cash payments still dominate the Ethiopian economy, particularly in rural areas where access to banking services remains limited.