Make Payments in KZT - Kazakh Tenge
Pay in Kazakh Tenge (KZT)
Mondial Change allows you to make international payments in KZT (Kazakh Tenge) with ease. Manage your Kazakh Tenge beneficiaries, track your transactions in real-time, and benefit from a secure online platform. We do not apply exchange commission on your KZT operations (a spread is applied on 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 Kazakh Tenge (KZT)
It is currently not possible to receive payments in KZT.
Do you want to hedge your exchange risk on the Kazakh Tenge (KZT)? Check our dedicated page for KZT exchange hedging
Mondial Change Answers All Your Questions on Payments in Kazakh Tenge (KZT)
What is the timeframe for a KZT payment to be credited to the beneficiary's account?
It generally takes a minimum of 2 business days for a Kazakh Tenge transfer to be credited to the beneficiary's account. However, these timeframes are not contractual, and our partners responsible for executing and routing payments cannot be held liable if KZT 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 Kazakh Tenge (KZT)?
The fees applied to Kazakh Tenge (KZT) transfers generally range from 0 to 10 euros, depending on the agreement with Mondial Change's trading room. The rate primarily depends on your annual KZT exchange volume and the number of Kazakh Tenge payments made during the year.
Are there minimum or maximum amounts for payments in Kazakh Tenge (KZT)?
Mondial Change and its partners verify that your Kazakh Tenge flows are consistent with the data declared during account opening and align with your activity volume to ensure compliance and security. If restrictions apply to transaction volumes, they will be communicated well in advance of your operations' validation.
What are the specific rules for executing a payment in Kazakh Tenge (KZT)?
For KZT payments via the SWIFT network, the following information must be provided at a minimum:
• Full name of the beneficiary
• Full address of the beneficiary
• IBAN
• SWIFT code of the beneficiary's bank
• Reason for the payment
Is it possible to modify a payment in Kazakh Tenge (KZT) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Kazakh Tenge (KZT) 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 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 Kazakh Tenge (KZT) cannot be executed?
January 1st: New Year’s Day
January 2nd: Second Day of New Year
January 7th: Orthodox Christmas
March 8th: International Women's Day
March 21st: Nauryz – Persian New Year (1st day)
March 22nd: Nauryz – 2nd day
March 23rd: Nauryz – 3rd day
May 1st: Unity Day of the People of Kazakhstan
May 7th: Defender of the Fatherland Day
May 9th: Victory Day
July 6th: Capital City Day (Astana Day)
August 30th: Constitution Day
October 25th: Republic Day
December 16th: Independence Day
Variable Date: Eid al-Fitr (Oraza Ait)
Variable Date: Eid al-Adha (Kurban Ait)
History of the Kazakh Tenge
The Kazakh Tenge (KZT) has been the official currency of Kazakhstan since 1993, introduced after the country's independence to replace the Soviet ruble. The word "tenge" comes from a Turkic term meaning "balance," reflecting the goal of monetary stability. The KZT is subdivided into 100 tiyn, although these sub-units are rarely used today. The National Bank of Kazakhstan (NBK) is responsible for issuing the Tenge and overseeing the entire national monetary system. The creation of the KZT marks a significant step in asserting the country's economic sovereignty.
Monetary Policy of the Kazakh Tenge
The National Bank of Kazakhstan (NBK) is the institution responsible for the country's monetary policy. Its main objective is to maintain price stability and ensure financial stability. Kazakhstan operates a managed floating exchange rate regime, allowing the NBK to intervene in the market in case of imbalances. To achieve this, it uses instruments such as the policy rate, reserve requirements, and open market operations to control the money supply. Targeted policies are also implemented to support growth, in a context marked by energy dependence and global economic uncertainties.
Features of the Kazakh Tenge
The Kazakh Tenge (KZT) is not freely convertible on a global scale, but it plays a crucial role in regional trade in Central Asia. Tenge banknotes are distinguished by their modern design, highlighting Kazakhstan's history, culture, and identity. They incorporate advanced security features, such as holograms, special inks, and embossed printing, to prevent counterfeiting. Although cash payments remain predominant among the population, digital solutions and dematerialized payments are rapidly developing in major cities.