Make Payments and Receive Payments in AED - United Arab Emirates Dirham
Pay in United Arab Emirates Dirhams (AED)
Mondial Change allows you to make international payments in AED (United Arab Emirates Dirham) with ease. Manage your beneficiaries in United Arab Emirates Dirham, track your transactions in real-time, and enjoy a secure online platform. We do not apply any exchange commission on your AED 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 United Arab Emirates Dirham (AED)
Mondial Change allows you to receive payments in AED (United Arab Emirates Dirham). Payments in AED are received in an account in your name with a dedicated IBAN. This AED account with a nominative IBAN is provided to you free of charge. It allows you to receive payments in AED from your clients or subsidiaries and also to hold United Arab Emirates Dirhams. The AED can be reused to make payments in AED. The AED can also be converted into EUR or any other currency of your choice and repatriated to your bank account. The United Arab Emirates Dirham (AED) account can be located in France or other countries (see possible locations).
Do you want to hedge your exchange rate risk on the United Arab Emirates Dirham (AED)? Check our dedicated page for AED currency hedging
Mondial Change Answers All Your Questions About Payments in United Arab Emirates Dirhams (AED)
What is the timeframe for an AED payment to be credited to the beneficiary's account?
It generally takes between 1 and 2 business days for a United Arab Emirates Dirham 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 AED payments are credited beyond 2 business days to the beneficiary's account.
What are the fees for a payment in United Arab Emirates Dirham (AED)?
The fees applied to transfers in United Arab Emirates Dirham (AED) generally range from 0 to 10 euros depending on the agreement made with Mondial Change's trading desk. The rate mainly depends on your annual AED exchange volume and the number of United Arab Emirates Dirham payments made during the year.
Are there minimum or maximum amounts for payments in United Arab Emirates Dirham (AED)?
Mondial Change and its partners verify that your flows in United Arab Emirates Dirham 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 United Arab Emirates Dirham (AED)?
For AED payments via the SWIFT network, simply provide the following information:
• Full name of the beneficiary
• IBAN
• Reason for payment
Is it possible to modify a payment in United Arab Emirates Dirham (AED) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in United Arab Emirates Dirham (AED) 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.
Is the United Arab Emirates Dirham (AED) account provided to you a bank account, and is it nominative?
The United Arab Emirates Dirham (AED) account for which we provide you with the details is not a bank account per se because the account-holding institution is not a bank but a partner payment institution. These accounts are labeled in your name, and the IBAN attached to the account is unique. You thus have a guarantee of segregation of your funds in the books of our partners. The security guarantees for your funds are similar to those offered by traditional banks. The account can be located in different countries according to your operational needs. Please consult the page related to opening a United Arab Emirates Dirham (AED) account for more information.
Is it possible to hold United Arab Emirates Dirhams (AED) in the AED account provided to you?
You can use this United Arab Emirates Dirham (AED) account to receive or store United Arab Emirates Dirhams. The funds can then be reused to issue payments in United Arab Emirates Dirham or be converted into other currencies. The account is also compatible for receiving AED payments from e-commerce platforms like Amazon or payment systems like Adyen or Stripe.
What are the holidays when payments in United Arab Emirates Dirham (AED) cannot be executed?
January 1st: New Year's Day
Variable date: Eid al-Fitr (end of Ramadan)
Variable date: Day of Arafat
Variable date: Eid al-Adha (Feast of Sacrifice)
Variable date: Islamic New Year (Hijri New Year)
Variable date: Mawlid (Birth of Prophet Mohammed)
December 2nd: UAE National Day
December 3rd: Second day of National Day
History of the United Arab Emirates Dirham
The United Arab Emirates Dirham (AED) is the official currency of the United Arab Emirates, a country located on the Arabian Peninsula. It is one of the most used currencies in the Gulf region and plays a crucial role in the economic and commercial transactions of this prosperous country. The AED currency code is commonly used to facilitate exchanges and international transactions involving the United Arab Emirates. The dirham is divided into 100 fils, which facilitates daily financial operations. Whether you plan to travel to the United Arab Emirates or do business with commercial partners in the region, it is essential to understand how the United Arab Emirates Dirham works and to be aware of the current exchange rates.
Monetary Policy of the United Arab Emirates Dirham
The UAE Central Bank is responsible for the monetary policy of the United Arab Emirates Dirham (AED). Its main role is to regulate and supervise the country's financial and monetary system. The primary objective of this policy is to maintain stable prices and promote sustainable economic growth. To achieve these objectives, the Central Bank closely monitors elements such as inflation, economic growth, interest rates, and foreign exchange reserves. It uses various tools, such as adjusting interest rates, regulating the money supply, and managing foreign exchange reserves, to influence the economy and maintain monetary stability. Thanks to a prudent and well-managed monetary policy, the United Arab Emirates Dirham enjoys a solid reputation for stability and trust in national and international markets.
Features of the United Arab Emirates Dirham
The United Arab Emirates Dirham (AED) has unique characteristics that set it apart from other currencies. Firstly, it is pegged to the US dollar, meaning it has a fixed exchange rate with the dollar. This fixed parity offers stability and predictability during commercial and financial exchanges involving the dirham. Additionally, the dirham is divided into sub-units called "fils." One dirham equals 100 fils, facilitating daily transactions. Another feature is that dirham banknotes are equipped with advanced security measures to combat counterfeiting, such as holograms, watermarks, and special inks. Finally, the dirham is widely accepted in the United Arab Emirates, whether for payments in stores, hotels, restaurants, or financial operations. This widespread acceptance facilitates exchanges and transactions for both residents and visitors.