In line with its strategy to deliver private banking services in accordance with international standards, TransBank has enhanced its foreign payments infrastructure and is among the leading banks in Mongolia to execute direct CNY and USD transactions.

As a result, clients engaged in international trade and business are able to perform cross-border payments with greater speed, operational simplicity, and cost efficiency.

As part of this initiative, the Bank has established a partnership with The Bank of New York Mellon, a leading global financial institution in USD clearing, and has successfully opened its direct USD correspondent (clearing) account.

This enables USD international transfers to and from over 100 countries to be processed within one business day. In addition, the Bank offers a principal-protected USD transfer service with a transaction fee starting from USD 30, providing highly competitive terms to its clients.

Furthermore, TransBank has become the first bank in Northeast Asia to act as a direct participant in the Cross-Border Interbank Payment System (CIPS) for RMB transactions. This enables faster and more reliable RMB transfers, with funds delivered to beneficiaries within as little as two hours, while enhancing payment efficiency and operational speed for clients engaged in trade and cooperation with China.

Clients can initiate international transfers to any country worldwide through their nearest TransBank branch, with the fastest and most cost-effective conditions

For more information on international transfers, please click here.

For detailed information on branch locations, please click here.