Which currencies does kompasbank cover?
With a business account at kompasbank, you can send and exchange 24 currencies from around the world. In this article, you can see the full list along with a short guide to which currencies belong where.
The full list
kompasbank supports the following 24 currencies:
AED, AUD, CAD, CHF, CNH, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, SAR, SEK, SGD, TRY, USD, and ZAR.
Currencies by geography
The Nordics and Denmark
- DKK - Danish kroner
- SEK - Swedish kronor
- NOK - Norwegian kroner
Europe
- EUR - euro
- GBP - British pound
- CHF - Swiss franc
- PLN - Polish zloty
- CZK - Czech koruna
- HUF - Hungarian forint
- RON - Romanian leu
North America
- USD - US dollar
- CAD - Canadian dollar
Latin America
- MXN - Mexican peso
Asia and the Pacific
- JPY - Japanese yen
- HKD - Hong Kong dollar
- SGD - Singapore dollar
- CNH - Chinese yuan (offshore)
- AUD - Australian dollar
- NZD - New Zealand dollar
The Middle East
- AED - UAE dirham
- ILS - Israeli shekel
- SAR - Saudi riyal
- TRY - Turkish lira
Africa
- ZAR - South African rand
What does CNH mean - is it the same as CNY?
CNH and CNY are both designations for Chinese yuan, but they are used differently. CNY is the onshore version traded inside China under strict regulation. CNH is the offshore yuan traded outside China, and it is the one used in international trade.
When you send money to a Chinese supplier, it is typically done in CNH.
Which currencies belong to SEPA?
SEPA payments take place exclusively in EUR. Even though several of the currencies above come from countries that are part of the SEPA area - such as Swedish kronor, Polish zloty, or Swiss franc - they cannot be sent via SEPA. They go via SWIFT.
You can read more about the difference in the article "International payments: SWIFT, SEPA, and local payments explained".
What if my currency is not on the list?
If you need to send or receive a currency that is not on the list, contact your advisor at kompasbank. We assess the need together with you and find the best solution.
What does it cost to exchange the different currencies?
The currency margin depends on which currency you exchange and which package you have chosen. EUR has the lowest margin, other major currencies such as USD and GBP have slightly higher, while less traded currencies have a larger margin.
You can see the current currency margins for each package in the article "Starter, Growth, or Scale - how to choose the right one".