Make Payments in NAD - Namibian Dollar
Pay in Namibian Dollars (NAD)
Mondial Change allows you to make international payments in NAD (Namibian Dollar) with ease. Manage your Namibian Dollar beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply exchange commission on your NAD 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 Namibian Dollar (NAD)
It is currently not possible to receive payments in NAD.
Mondial Change Answers All Your Questions About Payments in Namibian Dollars (NAD)
What is the timeframe for a NAD payment to be credited to the beneficiary's account?
It generally takes a minimum of 2 business days for a Namibian Dollar 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 NAD 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 have a significant impact on payment receipt times.
What are the fees for a payment in Namibian Dollar (NAD)?
The fees applied to Namibian Dollar (NAD) 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 exchange volume in NAD and the number of Namibian Dollar payments made during the year.
Are there minimum or maximum amounts for payments in Namibian Dollar (NAD)?
Mondial Change and its partners verify that your Namibian 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 Namibian Dollar (NAD)?
For NAD payments via the SWIFT network, the following minimum information must be provided:
• 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 Namibian Dollar (NAD) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Namibian Dollar (NAD) 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 Namibian Dollar (NAD) cannot be executed?
January 1st: New Year’s Day
March 21st: Independence Day
Variable date: Good Friday
Variable date: Easter Monday
May 1st: Workers’ Day
May 4th: Cassinga Day
May 25th: Africa Day
August 26th: Heroes’ Day
December 10th: Human Rights Day
December 25th: Christmas Day
December 26th: Family Day
History of the Namibian Dollar
The Namibian Dollar (NAD) has been the official currency of Namibia since 1993. It was introduced to replace the South African Rand, although the latter remains accepted as legal tender. The Namibian Dollar is issued by the Bank of Namibia. It is subdivided into 100 cents. The adoption of this currency marked an important step in asserting Namibia's economic independence following its independence in 1990.
Monetary Policy of the Namibian Dollar
The Bank of Namibia (BoN) is the institution responsible for monetary policy. It aims to maintain price stability and support economic growth. The Namibian Dollar is pegged to the South African Rand at a fixed parity under a monetary agreement with South Africa. This policy limits the country's monetary flexibility but provides great stability to the financial system. The central bank also uses instruments such as interest rates and reserve requirements to achieve its objectives.
Features of the Namibian Dollar
The Namibian Dollar (NAD) coexists with the South African Rand, which is accepted as legal tender in the country. NAD banknotes display national figures and cultural symbols. The Namibian monetary system relies on the trust placed in the Bank of Namibia and the stability of the Rand. This fixed parity facilitates regional exchanges but limits the country's monetary autonomy, exposing Namibia to South African economic policies.