What Seychellois rupee actually arrives in Seychelles when someone sends Australian dollars, at the live mid-market rate. We explain the process; we never recommend a provider.
| They send (AUD) | You receive at mid-market (SCR) |
|---|---|
| 500 AUD | 5,097 SCR |
| 1,000 AUD | 10,193 SCR |
| 2,000 AUD | 20,386 SCR |
| 5,000 AUD | 50,966 SCR |
Mid-market equivalents, not transfer quotes - the sender’s provider deducts its margin and any fees before the money reaches you. STRUCK 11:00 AEST · TUE 13 OCT.
An archipelago of 115 islands scattered across the Indian Ocean, Seychelles is home to the coco de mer - the plant that produces the largest and heaviest seed on Earth.
Five oblique bands of blue, yellow, red, white and green radiating from the lower hoist corner. Article 3 of the constitution provides only that there shall be a National Flag as prescribed by an Act, and the Act it defers to prescribes the design by a printed illustration and four colour values, without describing any of it in words or assigning any of it a meaning. The government publishes the reading separately: the oblique bands for a dynamic country moving into the future, blue for the sky and the sea, yellow for the sun that gives light and life, red for the people and their determination to work for the future in unity and love, white for social justice and harmony, and green for the land and natural environment.
A continent pretending to be a country - Australia is the only nation that fills an entire continent, with most of its 27 million people clinging to the coast while the red-dirt interior does its own thing.
A blue field with the Union Jack in the canton, a large white seven-pointed Commonwealth Star below it, and the five white stars of the Southern Cross at the fly. Six of the big star's points stand for the states and the seventh for the territories; the Southern Cross marks Australia's place in the southern sky.
Seychelles floated its rupee in 2008 after years of a fixed official rate with an unofficial one running beside it. The population is tiny, so the currency trades thinly, and tourism receipts, largely arriving in euros, drive much of the demand for it in any given season.
The exchange rate is set on the sending side - by the service the sender chooses in Australia - so the most useful thing a receiver can do happens before the transfer: share the live mid-market rate on this page so the sender can judge the margin in their quote. How the money arrives in Seychelles determines any local receiving charges - bank-to-bank transfers can pass through intermediary banks that deduct handling fees.
Sending rather than receiving? The sender’s view of this corridor covers the same rate from the other side. The AUD/SCR converter page handles any amount. Receiving money from overseas explains the process end to end.
A Seychelles account number carries the currency of the account inside it. The country's national format has been registered with the ISO 13616 registration authority with effect from October 2016, and its structure ends in a three-letter code identifying the currency the account is held in. Where a holder may keep rupee and foreign-currency accounts side by side, the identifier a recipient passes on is therefore also a decision about what they will be credited in, made before the money moves rather than after it lands.
An arriving transfer is expected to carry more than a number. Guidance published by the Seychelles Financial Intelligence Unit for reporting entities, in its June 2015 update, tells them to complete the fields for both the ordering and the beneficiary customer with their respective names and addresses when sending customer transfer messages, and requires the full name and address of the ordering customer for all credit transfers made by electronic means, domestic and international, whatever payment or message system is used.
The identity behind the account is specified closely in the same guidance. A personal customer resident in Seychelles is asked for their true name and any other names used, a correct permanent residential address, date of birth, occupation and source of income, with a current valid passport or national identity card not older than ten years and its number registered, and separate verification of the address. On a joint account the identity of every holder is verified, not only the first named.
Sources: SWIFT, ISO 13616 IBAN Registry · Financial Intelligence Unit, Guidelines on Anti-Money Laundering and Combating the Financing of Terrorism Procedures for Reporting Entities in Seychelles, June 2015 update
How much Seychellois rupee will I receive in Seychelles?
A little less than the mid-market figures above. The service the sender uses in Australia sets the rate and fees; local receiving banks in Seychelles can also apply their own charges depending on how the transfer arrives.
The sender asked for my details - what will they need?
Whatever their transfer service asks for on the receiving side - typically your full legal name and local bank account details in Seychelles. Give the name exactly as your bank records it; mismatches are the most common reason a transfer is delayed.
Why did I receive less than the rate on this page suggests?
Retail rates are set away from the mid-market midpoint by a margin the provider keeps. Comparing a quote against the reference rate on this page is what makes that margin visible, since it is rarely stated as a fee. On a bank-to-bank transfer an intermediary bank can also deduct a handling charge in transit.