Make Payments in MZN - Mozambican Metical
Pay in Mozambican Meticals (MZN)
Mondial Change allows you to make international payments in MZN (Mozambican Metical) with ease. Manage your Mozambican Metical beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not charge exchange commission on your MZN 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 Mozambican Metical (MZN)
It is currently not possible to receive payments in MZN.
Mondial Change Answers All Your Questions on Payments in Mozambican Meticals (MZN)
What is the timeframe for a payment in MZN to be credited to the beneficiary's account?
It generally takes a minimum of 2 business days for a Mozambican Metical 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 MZN 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 Mozambican Metical (MZN)?
The fees applied to transfers in Mozambican Metical (MZN) generally range from 0 to 10 euros depending on the agreement with Mondial Change's trading room. The rate mainly depends on your annual MZN exchange volume and the number of Mozambican Metical payments made during the year.
Are there minimum or maximum amounts for payments in Mozambican Metical (MZN)?
Mondial Change and its partners verify that your Mozambican Metical 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 payment in Mozambican Metical (MZN)?
For payments in MZN 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
Is it possible to modify a payment in Mozambican Metical (MZN) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Mozambican Metical (MZN) 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.
What are the public holidays when payments in Mozambican Metical (MZN) cannot be executed?
January 1st: New Year's Day (Ano Novo)
February 3rd: Mozambican Heroes' Day (Dia dos Heróis Moçambicanos)
April 7th: Mozambican Women's Day (Dia da Mulher Moçambicana)
May 1st: Labor Day (Dia do Trabalhador)
June 25th: Independence Day (Dia da Independência)
September 7th: Victory Day (Dia da Vitória)
September 25th: Armed Forces Day of National Liberation (Dia das Forças Armadas de Libertação Nacional)
October 4th: Peace and Reconciliation Day (Dia da Paz e Reconciliação)
December 25th: Family Day (Dia da Família)
History of the Mozambican Metical
The Metical (MZN) has been the official currency of Mozambique since 1980, replacing the escudo after the country's independence. Its name comes from the Arabic "mithqal," a historical weight unit used in trade. Facing high inflation in the 1990s, the Metical was reformed in 2006 (1,000 old Meticais = 1 new Metical). It is currently issued by the Bank of Mozambique and remains a central currency for domestic exchanges.
Monetary Policy of the Mozambican Metical
The Bank of Mozambique is the authority responsible for monetary policy. It primarily aims at price stability and supporting economic development. The MZN operates under a managed floating exchange rate regime, with central bank interventions to limit volatility. Tools used include the policy rate, mandatory reserves, and foreign exchange market interventions. Monetary policy is also influenced by external pressures due to energy and food imports.
Characteristics of the Mozambican Metical
The Metical is mainly used for internal transactions, although the dollar and South African rand are also accepted in some areas. MZN banknotes feature modern security elements, such as holograms and watermarks. Due to Mozambique's high dependency on imports, the Metical is sensitive to exchange rate fluctuations and imported inflation. Nevertheless, it plays a key role in maintaining the country's economic sovereignty.