Make Payments in SHP - Saint Helena Pound
Pay in Saint Helena Pounds (SHP)
Mondial Change allows you to make international payments in SHP (Saint Helena Pound) with ease. Manage your Saint Helena Pound beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply any exchange commission on your SHP 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 Saint Helena Pound (SHP)
It is currently not possible to receive payments in SHP.
Mondial Change Answers All Your Questions About Payments in Saint Helena Pounds (SHP)
What is the timeframe for a payment in SHP to be credited to the beneficiary's account?
It generally takes a minimum of 2 business days for a Saint Helena Pound 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 SHP payments are credited beyond 2 business days to the beneficiary's account. External events such as processing times 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 Saint Helena Pound (SHP)?
The fees applied to transfers in Saint Helena Pound (SHP) generally range from 0 to 10 euros, depending on the agreement made with Mondial Change's trading desk. The rate primarily depends on your annual SHP exchange volume and the number of Saint Helena Pound payments made during the year.
Are there minimum or maximum amounts for payments in Saint Helena Pound (SHP)?
Mondial Change and its partners verify that your Saint Helena Pound 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 Saint Helena Pound (SHP)?
For SHP 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
Is it possible to modify a payment in Saint Helena Pound (SHP) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Saint Helena Pound (SHP) 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 Saint Helena Pound (SHP) cannot be executed?
January 1st: New Year’s Day
Variable date: Good Friday
Variable date: Easter Monday
Variable date (1st Monday in May): Early May Bank Holiday
Variable date (last Monday in May): Spring Bank Holiday
Variable date (last Monday in August): Summer Bank Holiday
May 21st: St Helena Day
December 25th: Christmas Day
December 26th: Boxing Day
History of the Saint Helena Pound
The Saint Helena Pound (SHP) is the official currency of the British island of Saint Helena, located in the South Atlantic. It has been issued by the government of Saint Helena since 1976, replacing the exclusive use of the British Pound Sterling. Although it has the same rate as the GBP (1 SHP = 1 GBP), the SHP has its own banknotes and coins illustrated with local symbols. It is primarily used on Saint Helena but remains rarely exchanged internationally.
Monetary Policy of the Saint Helena Pound
The monetary policy of the SHP is overseen by the local government of Saint Helena. It is not a central bank in the strict sense, as the SHP is entirely backed by the British Pound Sterling (GBP). Consequently, the monetary policy of the SHP follows that of the United Kingdom, thus ensuring a certain stability. This fixed link with the British Pound strengthens confidence in the local currency while limiting imported inflation.
Characteristics of the Saint Helena Pound
The SHP is a rare currency, used only on Saint Helena and Tristan da Cunha. Although it has parity with the GBP, it is generally not accepted in the United Kingdom or elsewhere. SHP banknotes and coins have unique visuals representing local wildlife, historical figures, or iconic landscapes of the island. The SHP helps preserve a local economic identity while being supported by the stability of the British Pound.