How to receive USD in Ethiopia
To receive US dollars in Ethiopia, give the payer the SWIFT details of your foreign currency or export retention account at an Ethiopian bank, because accounts abroad need approval from the National Bank of Ethiopia (NBE) and few foreign platforms serve Ethiopia. Exporters of goods convert 50% of proceeds into birr and may keep 50% in dollars, while service exporters may keep 100% since February 2026. This guide covers the routes, the NBE rules, what to give the payer, arrival times, published costs and the 2026 ban on unauthorized crypto.
- Ethiopian businesses receive dollars mainly by SWIFT wire into a foreign currency account at an Ethiopian bank: an exporter's retention account, a foreign-owned company's account, or an account funded from abroad.
- Under NBE Directive FXD/01/2024, exporters of goods convert 50% of export proceeds into birr at a negotiated rate and may keep 50% in a retention account, and surrender to the NBE ended on 29 July 2024.
- The NBE's public notice of 11 February 2026 lets service exporters hold 100% of their proceeds in a retention account for an indefinite period.
- Exporters may receive advance payments from any party abroad under a written agreement presented to their bank, and receipts linked to an invoice or contract number may count as advances for future exports.
- Bunna Bank's published tariff lists incoming bank-to-bank transfers as free of service charge and NBE exchange commission, while exchange commission against a local account or cash is 2.50%.
- The NBE's notices of 27 February 2026 and 23 July 2026 prohibit birr-paired P2P crypto trading and virtual asset activity unless the NBE authorizes it, so stablecoin receipts are closed to Ethiopian businesses.
How to receive USD in Ethiopia: the short answer
An Ethiopian business paid from abroad receives US dollars through an Ethiopian bank in almost every case. The payer sends an international wire to the company's foreign currency account, which for an exporter is its foreign exchange retention account. Holding an account outside Ethiopia needs approval from the National Bank of Ethiopia (NBE), the central bank, and few foreign platforms accept Ethiopian businesses, so the local bank is the standard route.
This guide is written for the businesses that are paid in dollars from outside Ethiopia: exporters of coffee, oilseeds, flowers, leather and textiles; software, outsourcing, design and consulting firms with foreign clients; tour operators; and freelancers. Their positions differ. Since February 2026, a service exporter may keep all its dollar earnings in dollars, while an exporter of goods converts half of its proceeds into birr on arrival.
The rules changed sharply on 29 July 2024, when the NBE issued Foreign Exchange Directive No. FXD/01/2024 and moved Ethiopia to a market-based exchange rate. Amendments in 2026 eased them again. The sections below cover each route, the NBE rules on money received from abroad, the exact details to give a payer, arrival times, published costs, platform options, the 2026 notices on crypto and where Helm fits. For the account side of the same question, see our guide to a USD business account in Ethiopia.
The ways to receive US dollars in Ethiopia
The table compares the routes. It is not a ranking: which route a business can use depends first on the account category the NBE rules place it in.
| Route | How the payer pays | What arrives | Who can use it | Main rule to check |
|---|---|---|---|---|
| Foreign exchange retention account | International wire by SWIFT | US dollars, part converted for goods exporters | Exporters of goods and services | Goods exporters convert 50%; service exporters may keep 100% |
| Foreign currency account of a foreign-owned company | SWIFT wire | US dollars | FDI companies, embassies, international organizations and NGOs | No NBE approval letter needed since February 2026 |
| Foreign currency account funded from abroad | SWIFT wire | US dollars | Profit-making institutions receiving grants, gifts or other non-export foreign currency | Not for export proceeds |
| Birr account receiving dollars | SWIFT wire or money transfer service | Birr, converted at a negotiated rate | Any business or individual | No dollar balance kept |
| Account outside Ethiopia | ACH, Fedwire or SWIFT, depending on the provider | US dollars, held abroad | Residents only with NBE approval | Capital outflows remain restricted |
Sources: NBE press release on Directive FXD/01/2024 (29 July 2024); NBE public notice on relaxation of the foreign exchange directives (11 February 2026); Afriwise and Mondaq summaries of Directive FXD/04/2026. As published on 29 October 2026.
SWIFT is the international network banks use to send cross-border payments, identified by an 8 or 11 character bank code. ACH is the low-cost US domestic bank transfer system, and Fedwire is the Federal Reserve's real-time system for US dollar payments. A retention account is a foreign currency account at an Ethiopian bank that holds the share of export proceeds the exporter is allowed to keep. FDI stands for foreign direct investment, meaning a company owned by a foreign investor.
An exporter of goods or services uses its retention account, because that is where the directive sends export proceeds; see also how Helm works for exporters. A foreign-owned company uses its FDI foreign currency account. A domestic company that neither exports nor receives other eligible foreign currency is usually paid into its birr account, and the dollars are converted on arrival.
NBE rules for money received from abroad
Directive FXD/01/2024 repealed the earlier foreign exchange directives and took effect on 29 July 2024. The NBE's press release states that banks may trade foreign currency with clients at freely negotiated rates, and that surrender of foreign currency to the NBE ended. The NBE amended the directive on 12 February 2026 with Directive FXD/04/2026, announced in a public notice of 11 February 2026.
1. Goods exporters convert half
Exporters of goods convert 50% of export proceeds into birr immediately, at a rate they negotiate with the bank, and may keep the other 50% in a retention account. The directive raised the retained share from 40% to 50%. Companies in Special Economic Zones may retain 100%.
2. Service exporters keep everything
The NBE's notice of 11 February 2026 states that service exporters may hold 100% of export proceeds in a retention account for indefinite periods. For an Ethiopian software, outsourcing, tourism or consulting firm, this is the most important change: dollar earnings no longer have to be part converted on arrival.
3. Advance payments are easier
The same notice lets exporters receive advance payments from any party abroad under a written agreement presented to an authorized bank, and lets foreign currency receipts be treated as advance payment for future exports if they are marked as such or linked to a commodity, invoice or contract number. Quote the contract or invoice number on every payment for this reason.
4. More businesses can hold foreign currency
FDI companies, embassies and international organizations may open foreign currency accounts at any authorized bank without an NBE approval letter, and profit-making institutions may open accounts for foreign currency received from abroad as grants, gifts or other non-export sources. The USD 100 minimum to open a foreign currency savings account was removed.
| Who is paid | Rule that applies | Practical step |
|---|---|---|
| Exporter of goods | 50% converted into birr at a negotiated rate; 50% kept in a retention account | Negotiate the conversion rate with the bank before the proceeds arrive |
| Service exporter | May hold 100% of proceeds in a retention account for an indefinite period | Ask the bank to open or reclassify a retention account for service income |
| Exporter receiving an advance | Allowed from any party abroad under a written agreement presented to the bank | Give the bank the agreement and quote its number on the payment |
| FDI company | Foreign currency account without an NBE approval letter | Apply with the investment license and TIN certificate |
| Resident wanting an account abroad | Needs NBE approval; outward investment approved case by case | Take Ethiopian legal advice first |
Sources: NBE press release on FXD/01/2024 (29 July 2024); NBE public notice on relaxation of FXD/01/2024 (11 February 2026); Mondaq, 5A Law Firm (23 March 2026). As published on 29 October 2026. Confirm current rules with your bank.
A TIN is the taxpayer identification number issued by the Ethiopian tax authorities. The conversion requirement applies to export proceeds; it does not apply to foreign direct investment or other foreign currency accounts, according to EY's summary of the 2024 directive.
What to give the payer
Send the payer one set of details, in writing, and ask the payer's accounts team to save it as a vendor record. Ethiopian banks receive dollars through correspondent banks abroad, so the correspondent details matter as much as the account number.
| Field | What to give for a wire to an Ethiopian bank |
|---|---|
| Beneficiary name | Company's registered name, exactly as on the account and the commercial registration |
| Account identifier | The retention or foreign currency account number, not the birr account |
| Bank identifier | Bank's full name, branch, address and SWIFT code |
| Correspondent bank | The bank's US correspondent and its SWIFT code, as your bank instructs |
| Charges | OUR, so the full amount arrives |
| Reference | Invoice or contract number, and for an advance payment the agreement number |
Field list reflects standard SWIFT practice; confirm your bank's standard settlement instructions. As published on 29 October 2026.
A correspondent bank is a bank that holds an account for another bank and settles payments in its currency. A missing or wrong correspondent is a common reason a dollar wire is delayed or returned. OUR, SHA and BEN are SWIFT charge codes: OUR means the sender pays all fees so the full amount arrives, SHA means fees are shared and intermediary banks may deduct theirs in transit, and BEN means the receiver pays them all. Agree OUR in the contract for large invoices, so the amount credited matches the invoice. Our guide on how to receive USD from overseas buyers shows how to set these details out on an invoice.
How long a USD payment takes to arrive
Arrival time depends on the rail the payer uses. For an Ethiopian business the rail is almost always SWIFT, because accounts abroad that could receive ACH need NBE approval.
| Rail | Published timing | What affects it |
|---|---|---|
| SWIFT wire to an Ethiopian bank | Depends on the number of correspondent banks in the chain | Correspondent checks, missing details, Ethiopian and US holidays |
| ACH (US account details) | About 80% of ACH volume settles in one banking day or less; Same Day ACH accepts payments up to $1 million each | Payer's bank cut-off and whether it uses Same Day ACH |
| Fedwire (US account details) | Real-time gross settlement; final and irrevocable once processed; business day runs 9:00 p.m. ET the previous day to 7:00 p.m. ET, Monday to Friday | Payer's bank hours and US public holidays |
Sources: Nacha, "Significant majority of ACH payments settle in one business day or less" (28 August 2023) and Same Day ACH limit; Federal Reserve Financial Services, Fedwire Funds Service operating hours. As published on 29 October 2026. ACH and Fedwire apply only to US account details, which a resident company may hold only with NBE approval.
Real-time gross settlement means each payment is settled individually as it is processed, rather than in batches. For a SWIFT wire, the best way to avoid delay is to give complete details the first time, quote the invoice number, and ask the payer for the SWIFT confirmation, which carries a reference your bank can use to trace the payment if it does not arrive.
What it costs: published fees
Receiving dollars has three cost layers: the payer's bank fee, any correspondent deduction on the way, and your own bank's charges. Conversion adds a fourth whenever dollars become birr. The table shows charges that one Ethiopian bank and two platforms publish. Other banks set their own tariffs, so ask yours for its current schedule.
| Provider and item | Published charge |
|---|---|
| Bunna Bank: incoming bank-to-bank transfer, service charge | Free |
| Bunna Bank: incoming transfer, exchange commission payable to the NBE | Free |
| Bunna Bank: export service charges and commissions | Free; SWIFT charges at carrier cost |
| Bunna Bank: exchange commission against a retention or non-resident account | Free |
| Bunna Bank: exchange commission against a local account or cash | 2.50% |
| Bunna Bank: re-transfer abroad of foreign funds deposited to an account | 1%, minimum USD 40 |
| Grey: receiving USD by ACH | 0.8%, minimum $2, maximum $10 |
| Grey: receiving USD by Fedwire | $20 |
Sources: Bunna Bank, approved international banking terms and tariffs (announcement of 19 October 2024); Grey, fees and charges (stated as accurate as of March 2026). As published on 29 October 2026. Platform conversion rates include a margin over the mid-market rate, which is a separate cost.
The tariff shows where the cost sits for an Ethiopian business. Receiving the wire is free at Bunna Bank, but converting dollars against a local account carries a 2.50% exchange commission. On a $10,000 receipt converted to birr, that is $250, before the exchange rate itself. Since the 2024 float, banks negotiate the rate with each client, so ask for the rate before you convert and compare it with the NBE's indicative daily rate.
A service exporter that keeps its proceeds in a retention account avoids the conversion until it needs birr, and can pay foreign suppliers from the same account.
Wise, Grey and other platforms in Ethiopia
Platforms and fintechs, financial technology companies that are not banks, are common for freelancers, but few serve Ethiopia. The table records what each provider's own page states.
| Provider | What its own page states for Ethiopia | Point to check |
|---|---|---|
| Wise | Ethiopia is not on the list of countries where customers can hold money | Not available for holding balances |
| Airwallex | Ethiopia is not on its list of supported business registration locations | Not available to Ethiopian companies |
| WorldFirst | Its Africa offering is available across Nigeria, Ghana, Kenya and Morocco; Ethiopia is not named | Not named for Ethiopia |
| Grey | Its blog for freelancers in Ethiopia describes USD, GBP and EUR receiving accounts and conversion to birr | Written for individuals; check how funds reach an Ethiopian bank |
| Mercury | Accepts only companies formed and registered in the United States or a US territory | Needs a US company, which needs NBE approval to fund |
Sources: Wise country list; Airwallex eligible countries; WorldFirst Africa; Grey, freelancers in Ethiopia (last updated 2 October 2026); Mercury eligibility. As published on 29 October 2026.
A company should treat any balance held abroad as an NBE question first. Capital outflows remain restricted, and a resident company needs NBE approval to hold an account outside Ethiopia. Export proceeds belong in the retention account at an Ethiopian bank.
Freelancers and sole traders
Ethiopian individuals may open foreign currency accounts, and the NBE removed the USD 100 minimum opening balance in February 2026. A freelancer paid by foreign clients should ask the bank whether the income can go to a retention account as a service export, which since February 2026 may be held in dollars in full. Keep each client contract and invoice, because the bank may ask for them, and quote the invoice number on every payment.
Stablecoins and P2P trading
Some foreign clients offer to pay in USDC or USDT, digital tokens designed to hold a steady value of one US dollar. In Ethiopia this route is closed. The NBE's notice of 27 February 2026 prohibits birr-paired peer-to-peer (P2P) arrangements on trading platforms unless the NBE explicitly authorizes them, as summarized by 5A Law Firm. P2P trading is where individuals buy and sell crypto directly with each other, paying in birr. The NBE's Public Notice on Virtual Assets of 23 July 2026, as summarized by Dablo Law Firm for LEX Africa, prohibits the use, purchase, sale, exchange, transfer, trading, settlement and facilitation of virtual assets unless expressly authorized by the NBE, and a stablecoin does not become authorized e-money because it is price-stable. Ask clients to pay by bank transfer.
Where a Helm account fits
Helm is a financial technology company, not a bank. Accounts are held with regulated partner institutions. Helm provides USD account details in your company's own name, with a US routing and account number that receives ACH, Fedwire and SWIFT payments, alongside EUR and GBP details.
For a company resident in Ethiopia, a Helm account is an account outside Ethiopia, so it fits only where the NBE rules allow it:
- With NBE approval. A resident company that holds NBE approval for an account abroad can give US clients domestic payment details, so a client pays by ACH as it would pay a US vendor.
- Not for export proceeds. Export proceeds belong in the exporter's retention account at an Ethiopian bank.
- Foreign buyers and parents. A foreign company that buys from or owns an Ethiopian business can use its own Helm account to pay the Ethiopian company's foreign currency account by SWIFT, with the rate, fee and expected arrival shown before sending.
- Not for stablecoins. Helm's USDC and USDT features are available only where local law allows, and under the NBE's 2026 notices they are not available to companies based in Ethiopia.
Each account has a named account manager, and review questions are answered in writing within one business day. Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.
Checklist for receiving USD in Ethiopia
- Confirm which account category applies to you: retention, FDI or funded from abroad.
- Give payers the retention or foreign currency account number, never the birr account, with the bank's SWIFT code and US correspondent.
- Service exporters: ask the bank to hold 100% of proceeds in the retention account.
- Goods exporters: negotiate the rate for the 50% conversion before the proceeds arrive.
- Put advance payments under a written agreement and quote its number on the wire.
- Agree OUR charges with payers for large invoices.
- Do not accept or convert stablecoins unless the NBE has authorized the activity.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
How can a business in Ethiopia receive US dollars?
An Ethiopian business receives dollars by SWIFT wire into a foreign currency account at an Ethiopian bank: an exporter's retention account, a foreign-owned company's account, or an account funded from abroad. Other businesses are paid into a birr account and the dollars are converted on arrival.
How much of their export proceeds can Ethiopian exporters keep in dollars?
Under Directive FXD/01/2024, exporters of goods convert 50% of proceeds into birr at a negotiated rate and keep 50% in a retention account. Since February 2026, service exporters may keep 100% of their proceeds in a retention account for an indefinite period.
Do Ethiopian exporters still have to surrender foreign currency to the NBE?
No. The NBE's press release of 29 July 2024 states that surrender of foreign currency to the NBE ended under Directive FXD/01/2024. Goods exporters still convert 50% of proceeds into birr with their bank at a negotiated rate.
Can an Ethiopian exporter receive an advance payment from a foreign buyer?
Yes. The NBE's notice of 11 February 2026 lets exporters receive advance payments from any party abroad under a written agreement presented to an authorized bank. Receipts marked as advances or linked to a commodity, invoice or contract number may be treated as advance payment for future exports.
What details does a foreign client need to pay my Ethiopian bank account in USD?
The client needs your registered business name, the retention or foreign currency account number, your bank's name, branch, address and SWIFT code, and the bank's US correspondent bank. Ask the client to quote your invoice or contract number and to use the OUR charge code.
How much do Ethiopian banks charge to receive a transfer from abroad?
Each bank publishes its own tariff. Bunna Bank's published tariff lists incoming bank-to-bank transfers as free of service charge and NBE exchange commission, while exchange commission against a local account or cash is 2.50%.
Can I use Wise to receive USD in Ethiopia?
Ethiopia is not on Wise's list of countries where customers can hold money, and Airwallex does not list it as a supported registration location, as published on 29 October 2026. Check any platform's own country page, and remember that a resident company needs NBE approval to hold an account abroad.
Can an Ethiopian business accept USDT from a foreign client?
No, unless the NBE has authorized the activity. The NBE's Public Notice on Virtual Assets of 23 July 2026 prohibits the use, sale, exchange, transfer and settlement of virtual assets, including stablecoins, and its February 2026 notice prohibits birr-paired P2P crypto trading.
Can an Ethiopian company hold a bank account abroad to receive dollars?
Only with NBE approval. Capital outflows remain restricted, outward investment is approved case by case, and export proceeds belong in the exporter's retention account at an Ethiopian bank.
References
- National Bank of Ethiopia: Press release on Foreign Exchange Directive FXD/01/2024 (29 July 2024)
- National Bank of Ethiopia: Public notice on relaxation of foreign exchange directives (11 February 2026)
- Mondaq, 5A Law Firm: NBE Directive FXD/04/2026, major relaxation of foreign exchange rules (23 March 2026)
- EY: Ethiopia makes major changes to foreign exchange regime (15 August 2024)
- Bunna Bank: Approved international banking terms and tariffs
- Mondaq, 5A Law Firm: NBE's birr-paired P2P crypto notice (11 March 2026)
- LEX Africa, Dablo Law Firm: Ethiopia's virtual asset ban explained (12 August 2026)
- Nacha: Significant majority of ACH payments settle in one business day or less (28 August 2023)
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.