Make Payments and Receive Payments in EUR - euro
Pay in Euros (EUR)
Mondial Change allows you to make international payments in EUR (euro) with ease. Manage your euro beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply any exchange commission on your EUR 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 Euro (EUR)
Mondial Change allows you to receive payments in EUR (euro). Payments in EUR are received in an account in your name with a dedicated IBAN. This EUR account with a nominative IBAN is provided to you free of charge. It allows you to receive EUR payments from your clients or subsidiaries and also to hold euros. The EUR can be reused to make payments in EUR. The EUR can also be converted into EUR or any other currency of your choice and repatriated to your bank account. The euro (EUR) account can be located in France or other countries (see possible locations).
Do you want to hedge your exchange risk on the euro (EUR)? Check our dedicated page for EUR exchange hedging.
Mondial Change Answers All Your Questions About Euro (EUR) Payments
What is the timeframe for an EUR payment to be credited to the beneficiary's account?
It generally takes between 1 and 2 business days for a euro 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 EUR payments are credited beyond 2 business days to the beneficiary's account.
What are the fees for a euro (EUR) payment?
The fees applied to euro (EUR) 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 EUR exchange volume and the number of euro payments made during the year.
Are there any minimum or maximum amounts for euro (EUR) payments?
Mondial Change and its partners verify that your euro flows are consistent with the data declared during account opening and consistent 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 euro (EUR) payment?
For EUR payments via the SWIFT network or via the SEPA network, you only need to provide the following information:
• Full name of the beneficiary
• IBAN
Is it possible to modify a euro (EUR) payment after it has been executed?
Yes, it is possible with some of our partners to modify a euro (EUR) 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 euro (EUR) account provided to you a bank account, and is it nominative?
The euro (EUR) account for which we provide you with the details is not a bank account per se because the account-holding institution 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 our partners' books. 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 euro (EUR) account for more information.
Is it possible to hold euros (EUR) in the EUR account provided to you?
You can use this euro (EUR) account to receive or store euros. The funds can then be reused to issue euro payments or be converted into other currencies. The account is also compatible for receiving EUR payments from e-commerce platforms like Amazon or payment systems like Adyen or Stripe.
What are the holidays when euro (EUR) payments cannot be executed?
January 1: New Year's Day
Variable date: Good Friday
Variable date: Easter Monday
May 1: Labor Day
December 25: Christmas
December 26: Boxing Day
History of the Euro
The euro (EUR) is the official monetary unit of the eurozone, which today includes several member countries of the European Union. It was introduced on January 1, 1999, in scriptural form, before entering circulation in the form of banknotes and coins on January 1, 2002. The euro is often abbreviated as EUR, a denomination derived from its official name in the various languages of the Union. The European Central Bank (ECB), in collaboration with national central banks, is responsible for issuing and regulating the currency. The euro is widely accepted throughout the eurozone and can be exchanged in banks, exchange offices, and ATMs. It is divided into 100 cents, and today it is one of the main reserve and exchange currencies in the world.
Monetary Policy of the Euro
The monetary policy of the euro is defined and implemented by the European Central Bank (ECB), in cooperation with the national central banks of the eurozone countries. Its main objective is to maintain price stability while contributing to the smooth functioning of the financial system and supporting economic activity. The ECB carefully analyzes various economic indicators such as inflation, economic growth, and employment levels to guide its decisions on interest rates and monetary policy instruments. Unlike a fixed exchange rate regime, the euro operates under a floating exchange rate regime, with its rate determined by international markets. This approach allows the eurozone to adapt to global economic conditions while promoting monetary stability and economic actors' confidence.
Characteristics of the Euro
The euro has several characteristics that distinguish it from other currencies. Firstly, it is used as the official currency by many European Union countries, thus forming a large common monetary area. This widespread adoption facilitates trade, travel, and financial transactions between member countries without exchange risk. Moreover, the euro is one of the most traded currencies in the world and plays a major role in the international financial system, notably as a reserve currency. Its management is ensured by the European Central Bank, which coordinates the monetary policy of the entire eurozone to ensure price stability and strengthen economic actors' confidence. Finally, the existence of a single currency contributes to the economic and financial integration of participating countries.