- Eliminate the potential multifaceted issues and misunderstandings or doubts that may arise between the contract parties, and minimize the risks;
- Under the terms and conditions specified in the contract, the bank executes withdrawal transactions with the consent of both the involving parties;
Escrow account
TransBanks escrow service is commonly used by contracting parties and allows them to open an account at our bank, where we securely transfer payments with the consent of all parties involved in the contract.
Benefits
Terms and conditions
Terms |
Service Fees and Charges |
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Account currency |
MNT |
USD |
EUR |
CNY |
JPY |
For the contract of sale and purchase of an apartment: |
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Seller side |
MNT 20,000 |
10 USD |
10 EUR |
70 CNY |
1,000 JPY |
Buyer side |
MNT 20,000 |
10 USD |
10 EUR |
70 CNY |
1,000 JPY |
For other contracts: |
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Beneficiary |
0.1% |
0.1% |
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Up to MNT 100,000 |
Currency equivalent to MNT 100,000 |
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Payer |
0.1% |
0.1% |
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Up to MNT 100,000 |
Currency equivalent to MNT 100,000 |
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Eligibility or required documents
-
Customer application form /download here/
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Provide a copy of the contract signed by both parties, along with the original document.
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For Mongolian citizens: ID card;
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For Foreign citizens: Passport and Residence permit in Mongolia
