Send business payments to Cape Verde
Pay suppliers, staff and partners in Cape Verde in CVE: we convert from your balance when you pay and send it by SWIFT in one step. CVE can’t be held.
Quick facts
- Local currency
- CVE · Cape Verdean Escudo
- Pay out in CVE?
- Yes — pay out only, converted when you pay
- Route
- CVE · SWIFT
- Typical timing
- SWIFT: typically 1 to 3 working days (typical, not guaranteed)
- Account details
- No IBAN — account number + SWIFT code
- SWIFT codes
- 7 banks in our directory
What you need from your supplier
The beneficiary’s full legal name
Exactly as their bank holds it: the company name for a business, not a trading name.
Their address
Street, town and country.
Account number
Cape Verde does not use the IBAN, so the local account number is what identifies the account.
The bank’s SWIFT/BIC code
8 or 11 characters. Use the code the supplier gives you; the head-office code works if you only know the bank.
What the payment is for
An invoice number or a short description. Some payments need a supporting document such as the invoice.
How it works
- 01
Add your beneficiary in Cape Verde
Enter the details above once and save them. Every later payment to the same supplier, employee or partner starts from the saved record.
- 02
Pay in CVE
Pay from a balance you hold, or convert as part of the payment. The fee, the rate and the amount the beneficiary receives are shown before you confirm.
- 03
Approve and send by SWIFT
A second approver can sign off if your policy requires it. You can download a confirmation of the payment to forward to the beneficiary.
Largest banks in Cape Verde
Fees
- SWIFT payment out
- 0.25%, min €25.00
- Currency conversion
- 0.5%
Figures from the MENA plan. Every fee is shown before you confirm a payment, and banks in a SWIFT chain may deduct charges of their own. All plans and fees →
Sending money to Cape Verde: questions
- How long does a business payment to Cape Verde take?
- A SWIFT payment typically takes 1 to 3 working days, depending on the currency and the banks in the chain. Payments instructed after the daily cut-off, at a weekend or on a holiday start on the next working day. Timings are typical, not guaranteed; the payment calendar shows value dates.
- How much does it cost to send money to Cape Verde?
- On the MENA plan a SWIFT payment out costs 0.25%, min €25.00, and banks in the SWIFT chain may deduct charges of their own. Converting currency costs 0.5%. Every fee and the rate are shown before you confirm.
- Which currency should I pay a supplier in Cape Verde in?
- CVE is a pay-out-only currency: we convert from a balance you hold at the moment you pay, and it can’t be held or received. You can also pay in US dollars or euros if the supplier prefers.
- What details do I need from the supplier?
- The beneficiary’s name and address, their account number and their bank’s SWIFT/BIC code. Cape Verde doesn’t use the IBAN.
- Will I need to send documents?
- Sometimes. Depending on the destination and the amount, we may ask for an invoice or another supporting document before a payment is released, and the recipient’s bank may ask your supplier for the same. Keeping the invoice number in the payment reference helps both.
- Can a business based in Cape Verde open an account?
- Yes, Cape Verde is not on our list of markets we can’t serve, so a business based there can apply, subject to KYC/KYB review. Onboarding hasn’t opened yet: join the waiting list and we’ll contact you when it does.
Related
Paying suppliers in Cape Verde?
Onboarding hasn’t opened yet. Join the waiting list and we’ll contact you when it does.