Sending business payments from the US to Ethiopia
A US company pays an Ethiopian exporter by SWIFT wire in US dollars to the exporter's retention or foreign currency account at an Ethiopian bank, quoting the invoice or contract number. Under the National Bank of Ethiopia's 2024 directive, goods exporters convert half their proceeds into birr and keep half, and since February 2026 service exporters may keep all of theirs. This guide covers the details to collect, the rules, timing, documents and fees.
- 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.
- The NBE's notices of 2026 prohibit birr-paired P2P crypto trading and virtual asset activity unless the NBE authorizes it, so pay Ethiopian suppliers by bank wire.
Details to collect from your recipient in Ethiopia
Dollars reach an Ethiopian bank through its correspondent banks abroad, which makes the correspondent fields as important as the account number. Ask the supplier for the retention or foreign currency account, not its birr account, and for the bank's standard settlement instructions.
| Detail | What to ask for | Why it matters |
|---|---|---|
| Beneficiary name | The registered name, exactly as on the account and the commercial registration | Name mismatches lead to queries |
| Account number | The retention or foreign currency account | A dollar wire to a birr account is converted |
| Bank name, branch, address and SWIFT code | 8 or 11 characters | Routes the wire |
| Correspondent bank | The bank's US correspondent and its SWIFT code | A missing correspondent is a common reason for returns |
| Reference | Invoice or contract number, and for an advance the agreement number | Lets the bank treat the receipt as export proceeds or an advance |
Sources: NBE public notice of 11 February 2026; field list compiled by the Helm Editorial Team. As published on 29 October 2026.
USD or birr: what the National Bank of Ethiopia requires
Directive FXD/01/2024 took effect on 29 July 2024. The NBE states that banks may trade foreign currency with clients at freely negotiated rates and that surrender of foreign currency to the NBE ended; Directive FXD/04/2026 relaxed the rules further in February 2026. The US dollar to birr page covers the currency.
| Rule | What it says | What it means for your payment |
|---|---|---|
| Goods exporters | 50% converted into birr at a negotiated rate; 50% kept in a retention account | Half your payment stays in dollars with the supplier |
| Special Economic Zones | Companies may retain 100% | No conversion for SEZ exporters |
| Service exporters | May hold 100% in a retention account for an indefinite period (notice of 11 February 2026) | The whole payment can stay in dollars |
| Advance payments | Allowed from any party abroad under a written agreement presented to an authorized bank | Send the agreement number with an advance |
| Accounts abroad | A resident needs NBE approval | Pay the supplier's account in Ethiopia |
Sources: NBE press release on FXD/01/2024 (29 July 2024); NBE public notice of 11 February 2026; Mondaq, 5A Law Firm (23 March 2026). As published on 29 October 2026.
Because the rate is negotiated between the exporter and its bank, a goods supplier cares about when your payment lands. For the recipient's view, see how Ethiopian businesses receive USD.
Rails and arrival times to Ethiopia
A dollar wire settles in the United States on Fedwire, whose business day runs from 9:00 p.m. ET the previous evening to 7:00 p.m. ET on weekdays, with a 6:45 p.m. ET cut-off for customer transfers. Addis Ababa is 7 hours ahead of New York in the US summer and 8 hours ahead in the US winter. For an Ethiopian recipient the rail is almost always SWIFT, because accounts abroad need NBE approval.
| Route | What the recipient receives | Timing, as published | Notes |
|---|---|---|---|
| SWIFT wire in USD to a retention account | US dollars; half converted for goods exporters | Swift reported in August 2023 that 89% of payments on its network reached the recipient's bank within an hour; crediting depends on the correspondent chain | The standard route |
| SWIFT wire marked as an advance | US dollars, recorded against a future export | As above | Needs a written agreement at the bank |
| SWIFT wire to a birr account | Birr, at the bank's rate | Credited on an Ethiopian business day | Exchange commission applies |
Sources: Federal Reserve Financial Services, Fedwire operating hours; Swift, 22 August 2023; NBE public notice of 11 February 2026. As published on 29 October 2026.
Documents, screening and why payments to Ethiopia are held
The supplier's bank needs to classify each receipt: export proceeds, an advance under a written agreement, or another source. A payment that carries the invoice or contract number can be treated as an advance for future exports if it is marked that way, so the reference does real work here. Keep the contract and, for advances, the agreement the supplier presented to its bank.
On the US side, sanctions screening applies to every payment: OFAC states that all US persons, including US-incorporated entities and their foreign branches, must comply with its sanctions, so check the payee and its bank against OFAC's lists (OFAC FAQ 11).
| Problem | What happens | How to prevent it |
|---|---|---|
| No invoice, contract or agreement reference | The bank cannot classify the receipt | Quote the reference on every payment |
| Missing or wrong correspondent | Delayed or returned | Copy the bank's settlement instructions |
| Dollars sent to a birr account | Converted, with a 2.50% exchange commission at Bunna Bank | Ask for the retention account |
| Payment offered in stablecoins | Virtual asset activity prohibited without NBE authorization | Pay by bank wire |
| Wire sent as SHA | Arrives short of the invoice | Use OUR for large invoices |
Sources: NBE public notice of 11 February 2026; Bunna Bank tariff; LEX Africa, 12 August 2026. As published on 29 October 2026.
Costs: SHA, OUR and Helm's fees for payments to Ethiopia
Bunna Bank lists incoming bank-to-bank transfers as free of service charge and of the exchange commission payable to the NBE, and charges a 2.50% exchange commission when dollars are converted against a local account or cash. Re-transferring foreign funds abroad costs 1%, minimum USD 40. Intermediary deductions on SHA reduce what arrives; with OUR you pay them. For account options, see USD accounts in Ethiopia.
From a Helm account you can send international supplier payments by SWIFT and by local rails in the recipient's currency where available, confirmed by your account manager, with the rate, fee and expected arrival shown before you confirm. Helm is a financial technology company, not a bank; US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with funds held at Lead Bank.
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. See how Helm pricing works.
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How do I send a business payment from the US to Ethiopia?
Send a SWIFT wire in US dollars to the supplier's retention or foreign currency account at its Ethiopian bank, with the bank's SWIFT code and US correspondent, quoting the invoice or contract number.
Do Ethiopian exporters have to convert my dollars?
Goods exporters convert 50% of export proceeds into birr at a negotiated rate and keep 50% under Directive FXD/01/2024. Since February 2026 service exporters may hold 100% in a retention account.
Can I make an advance payment to an Ethiopian supplier?
Yes. The NBE's February 2026 notice lets exporters receive advance payments from any party abroad under a written agreement presented to their bank. Quote the agreement number on the payment.
How much do Ethiopian banks charge to receive a wire?
Bunna Bank lists incoming bank-to-bank transfers as free of service charge and NBE exchange commission, and charges 2.50% when dollars are converted against a local account.
Can I pay an Ethiopian supplier in USDT?
The NBE's 2026 notices prohibit birr-paired P2P crypto trading and virtual asset activity unless the NBE authorizes it. Pay by bank wire.
What does Helm charge to send money to Ethiopia?
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.
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)
- Bunna Bank: Approved international banking terms and tariffs
- LEX Africa, Dablo Law Firm: Ethiopia's virtual asset ban explained (12 August 2026)
- Federal Reserve Financial Services: Fedwire Funds Service operating hours
- Swift: Cross-border payments on Swift exceed the G20's processing speed target (22 August 2023)
- Office of Foreign Assets Control: FAQ 11, Who must comply with OFAC sanctions?
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.