Month: May 2022

Available in ten (10) major currencies, including MNT, USD, EUR, CNY, JPY, RUB, KRW, GBP, SPD, HKD;
Instantly carry out various types of cash and non-cash transactions;
Foreign exchange services;
Order domestic or international debit cards linked to your account;

Current Account

Eligibility or required documents

Post author By admin
Post date May 12, 2022
No Comments on Eligibility or required documents

Customer application form; /download here/
Official letter /Request to open an account/
A copy the registration certificate issued by the State Registration authorities;
Company charter; Rules of legal entities and organizations;
Authorized signature, stamp /must be authorized by notary/; /download here/
Authorized person’s documents such as identification card.

Bank Guarantee

Any procurement of goods and services financed by the state budget of Mongolia, typically require three types of bank payment guarantees. The Transport and Development Bank issues those guarantee services to the beneficiaries. These include:

Bid Bond
Performance Bond / Security
Advance Payment Guarantee

Bank Guarantee

Payment Guarantee

In a business relationship, the parties are obliged to fulfill certain obligations under the contract, and in the event of failure to perform its obligations. The payment guarantee ensures the performance of the all parties in accordance with the terms and condition of the signed contract.

Terms	MNT	USD	EUR	CNY	JPY	RUB	KRW	GBP	SGD	HKD
Annual interest rate	3.0%*	1.2%*	1.2%*	1.2%*	1.2%*	–	–	–	–	–
Monthly service fee	No fee
Account opening fee	No fee
Minimum balance requirement	5,000	5	5	35	500	100	5,000	5	1	3
Account closure fee	5,000	Foreign currency equivalent to 5,000 MNT
* is the maximum rate of the interest rate on the product