Make Payments in SBD - Solomon Islands Dollar
Pay in Solomon Islands Dollars (SBD)
Mondial Change allows you to make international payments in SBD (Solomon Islands Dollar) with ease. Manage your Solomon Islands Dollar beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply exchange commission on your SBD 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 Solomon Islands Dollar (SBD)
It is currently not possible to receive payments in SBD.
Mondial Change Answers All Your Questions on Payments in Solomon Islands Dollars (SBD)
What is the timeframe for an SBD payment to be credited to the beneficiary's account?
It generally takes a minimum of 2 business days for a Solomon Islands Dollar 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 SBD 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 on a payment in Solomon Islands Dollar (SBD)?
The fees applied to transfers in Solomon Islands Dollar (SBD) generally range from 0 to 10 euros depending on the agreement with Mondial Change's trading room. The rate mainly depends on your annual SBD exchange volume and the number of Solomon Islands Dollar payments made during the year.
Are there minimum or maximum amounts for payments in Solomon Islands Dollar (SBD)?
Mondial Change and its partners verify that your Solomon Islands Dollar 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 Solomon Islands Dollar (SBD)?
For payments in SBD via the SWIFT network, the following information must be provided at a minimum:
• Full name of the beneficiary
• Account number
• SWIFT code
Is it possible to amend a payment in Solomon Islands Dollar (SBD) after it has been executed?
Yes, it is possible with some of our partners to amend a payment in Solomon Islands Dollar (SBD) 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 Solomon Islands Dollar (SBD) cannot be executed?
January 1st: New Year’s Day
Variable date: Good Friday
Variable date: Easter Monday
Variable date (2nd Monday in June): King’s Birthday
July 7th: Independence Day
Variable date (last Monday in August): Provincial Day – some provinces
December 25th: Christmas Day
December 26th: Boxing Day
History of the Solomon Islands Dollar
The Solomon Islands Dollar (SBD) was introduced in 1977 to replace the Solomon Islands Pound. It is subdivided into 100 cents. Its introduction was part of the economic empowerment process following the gradual independence from the United Kingdom. Issued by the Central Bank of Solomon Islands, the SBD reflects the economic realities of an archipelago dependent on the export of natural resources such as timber, fish, and gold. Its value has experienced fluctuations, notably due to political crises and natural disasters.
Monetary Policy of the Solomon Islands Dollar
The Central Bank of Solomon Islands is responsible for monetary policy. It aims to ensure monetary stability, maintain low inflation, and support the country's economic growth. The SBD operates under a managed floating exchange rate regime. The central bank regularly intervenes in the foreign exchange market to maintain exchange rate stability, particularly against the US dollar. It also uses interest rates, reserve requirements, and money supply regulation as its main policy tools.
Characteristics of the Solomon Islands Dollar
The SBD is a regional currency with limited international exchange, heavily reliant on the US dollar in external transactions. The banknotes in circulation feature cultural and natural elements of the Solomon Islands, such as tropical birds and traditional scenes. Due to the narrow and insular economy, currency stability remains fragile and dependent on exports. The banking system is developing, and the digitization of payments is progressing slowly, making the use of SBD still predominantly physical.