International payments

Mondial Change provides the most comprehensive offer on the market for international payments as it aggregates the payment capabilities of several of the world's best payment institutions. As a broker in banking operations and payment services, we have established strategic and technological partnerships with various institutions specialized in this field. By using Mondial Change, you benefit from the combined payment capabilities of our partners while having Mondial Change as the sole point of contact for the daily management of your transfers. We can offer you the ability to transfer funds in up to 140 currencies to 180 countries. You can check our overall payment capabilities with all partners here. Detailed information on international payments for each currency can be found by clicking on the ISO code of the currency.

For euro transfers, our partners use the SEPA system, specifically designed for euro payments within the Eurozone, covering 36 European countries. It aims to simplify and expedite euro payments by eliminating national borders for transfers, direct debits, and card payments. SEPA offers advantages such as faster processing times, reduced or nonexistent transaction fees for euro payments, and simplified administrative procedures for businesses operating within the Eurozone. However, SEPA has limited geographical coverage compared to SWIFT, which covers the entire world. For most transfers in currencies other than the euro, our partners use the SWIFT system. It is employed for international transactions outside the Eurozone and encompasses a vast network of partners worldwide. Some transfers may be executed outside the SEPA or SWIFT systems when our partners have local counterparts to carry out transfers via the destination country's local payment system.

The bank details of an international beneficiary are not always easy to understand. Depending on the destination country, the format may be in the form of an IBAN and a SWIFT code or an account number and a local country code. The beneficiary may request the use of a specific intermediary bank. The payment platform at your disposal allows for easy addition of international beneficiaries with automatic checks of bank details. Upfront checks help avoid input errors and minimize the risk of your payments being rejected by the beneficiary's bank. You also have the option to use a formatted file to mass-import beneficiaries. Finally, our trading room can add beneficiaries on your behalf if you prefer.

It is possible to validate international payments directly online on the platform. If you are unable to access the platform, you can still validate your operations by phone or email via our trading room. We are available from 8:30 am to 7:00 pm to address all your requests. Unlike traditional bank trading rooms where currency operations and payment operations are handled by separate departments, Mondial Change's trading room combines the execution of currency and payment operations in one place. If you have a large number of transfers to execute, you can also use the mass payment import features via a formatted file. We can retrieve file formats exported from your company's ERP or other internal systems to transform them into the desired format for the final payment import. Payment-related flow movements are sent back to you via MT940 integrable into your company's treasury management systems.

Whether by phone or on the online platform, exchange rates applied to your foreign currency transactions are always communicated before the operations are validated. Upon validation of your foreign currency transactions, you know the exact equivalent in euros (or another currency). The communicated exchange rates are based on real-time interbank rates and not on fixed rates (valid for an entire day and generally much degraded compared to real-time interbank rates) as is sometimes the case with traditional banks. Spreads applied by Mondial Change on operations vary based on criteria such as the client's annual currency volumes or the currency pair processed. Spreads are negotiated between Mondial Change and the client before operations are validated.

Each transaction triggers the sending of a confirmation email containing all the details of your transaction (amount, exchange rate, equivalent value, value date, beneficiary). On the value date, when the payment is actually sent to the beneficiary, a payment confirmation is sent via email. It is also possible to set up the automatic sending of an email in English to the beneficiary to inform them of the successful execution of the payment. At any time, you can freely retrieve the MT103 confirmation of your payment when executed via the SWIFT network. You also have access to a real- time payment tracking system called "SWIFT tracker," providing real-time information on the location of your funds and detailed information on each step of the payment routing to the beneficiary's account.

The management of international payments can be summarized in one expression: "Everything is fine as long as there is no mistake." Indeed, it can be very complicated to recover funds when an error occurs in the beneficiary's bank details. This could be the omission of a letter in the beneficiary's name, sometimes even a comma, or sending funds to a closed account or an incorrect account number. Sometimes, payments may also be blocked for reasons of bank compliance. In all cases, the key to quickly resolving the situation is the responsiveness of intermediaries in communicating the error/blockage to the payment issuer and the ability to correct the error without waiting for the return of funds. With Mondial Change, checks are performed before validating beneficiaries and payments to minimize errors. In case of an error, our partners can send amendments via the SWIFT network to correct the error and avoid the return of funds. Finally, in the case of a returned payment, Mondial Change does not apply any fees and credits the received currencies to an account in the payment currency to avoid unnecessary conversion and facilitate the reissuance of the payment later.

The payment institutions with which we have partnerships (you can find the list here) for managing international payments provide solid guarantees. Backed by internationally renowned banks, they represent counterparts as reliable as traditional banks. The funds you send to our partners for settling international payments are sent to accounts in your name with a unique IBAN. These funds are completely separate from the proprietary funds of our partners or the funds of other clients. More than 1000 business clients in France trust Mondial Change for the management of their international payments, and we can provide client references in your industry upon request!

Mondial Change allows companies to manage the receipt of their foreign currency payments by providing free access to foreign currency accounts. These accounts are opened in the name of the company and have a unique IBAN. Moreover, these accounts can be located in different countries according to the needs of the company. You can check our overall capabilities for foreign currency accounts with all partners here. For transactions exceeding EUR 100,000, these accounts can also be opened for individuals. You cannot directly receive card payments on these accounts, but you can connect these accounts to CB payment collection systems such as Paypal or Adyen to convert collected funds at a much more favorable exchange rate than offered by these systems. We also invite you to consult our foreign currency accounts page for all the information on this service.

When a company makes a payment in a currency other than its accounting currency (usually the Euro for EU companies), the Euro equivalent of this payment will depend on the exchange rate between the Euro and the payment currency. Therefore, profit margins on a product or service will partly depend on the exchange rate related to your international payments. On low-margin activities, the impact can go as far as completely eliminating the profit margin. You can eliminate this currency risk by securing a guaranteed exchange rate envelope (what is called a window forward). You can then use this envelope to make your payments at the secured rate. Our trading room can assist you in establishing a foreign exchange risk management policy and in choosing appropriate hedging strategies for your business. You can make an appointment with our trading room by clicking here. We also invite you to consult our currency risk management page for all the information on this service.

Our technical team carries out specific developments tailored to your needs for managing international payments. This may involve data reporting in your company's internal software for reporting needs, file processing for mass payment execution, communication of data on losses and gains from exchange, or automation of FX hedging according to your criteria. The fact that we are already technologically connected with all our partners allows you to retrieve, via Mondial Change, all the data related to the operations you carry out with any of our partners. Therefore, you have a particular interest in going through our intermediary and using our partner network rather than using actors outside our partner pool.