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Author: Batbayar
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TRANSBANK LAUNCHES ITS NEW WEBSITE
Transport and Development Bank, with its 25 years of professional services in the banking sector, further aims to bring new level of financial services to our customers and to create products and services that meet international standards.
With this said, we are pleased to present our new Website that is integrated and able to work with our customer service platform and offers new opportunities to interact with the Bank.
The new Website offers customers the ability to receive comprehensive banking and financial services in Mongolian, English and Chinese languages without the limitation of time.
We would also like to highlight the banners and contents of the new Website. Particularly Mongolians were the first nation to have laid the foundation of today’s paper currency back in 13th century. Therefore, the new Website features unique web banners with historical content to increase the banking and financial knowledge of our customer.
International Networking Event Hosted by TransBank
The International Cooperation Division hosted a successful Networking and Product Launch Event on the evening of Wednesday 25th May in the TransBank lounge at Headquarters, Shangri-La Offices, Ulaanbaatar.
The event featured participants from the Asian Development Bank, Embassy of the United States to Mongolia, European Union Delegation in Mongolia, Oyu Tolgoi, Sandvik Mongolia, the British School of Ulaanbaatar, the International School of Ulaanbaatar, Max Group, Shangri-La Hotel Ulaanbaatar and other prominent International and Mongolian enterprises. The event was hosted by Mrs Erica (Erkhembayar) Baltsukh Deputy CEOs of TransBank.
Mr Declan Magee, Deputy Country Director of Asian Development Bank in Mongolia presented ADB’s latest Economic Outlook and Plans for Mongolia.
Mr Magee highlighted several key trends which are negatively impacting growth including: ongoing border closures and trade disruption; high inflation; exchange rate depreciation coupled with falling foreign reserves; high domestic financing needs; with high geopolitical risks. Export performance is expected to remain weak and this signals low growth for Mongolia in 2022.
As for planning ADB’s Country Partnership Strategy 2021-2024 is focused on “supporting Covid-19 recovery and lay[ing] resilient foundations for inclusive and stable growth”. The CPS focuses on inclusive social development and economic opportunity, climate-resilient infrastructure development and green development.
TransBank, gave a brief presentation of it’s recent development and products. We presented new Exchange Rate Risk Sharing Deposit product which offers our customers a higher interest rate to compensate for any official Bank of Mongolia MNT-USD exchange rate depreciation.
| CURRENCY | AMOUNT | OUR BANK FEE | CORRESPONDENT BANK FEE |
| US Dollar
|
<5,000 | 15,000 MNT | 20 USD |
| 5,000.01-100,000 | 25,000 MNT | ||
| >100,000.01 | 35,000 MNT | ||
| Guaranteed remit in full service (G-OUR) | 35-60USD | ||
| US Dollar (to Korea)
|
<5,000 | 15,000 MNT | 25 USD |
| 5,000.01-100,000 | 25,000 MNT | ||
| >100,000.01 | 35,000 MNT | ||
| Euro (to Germany)
|
<2,500 | 15,000 MNT | 5 EUR |
| 2,500.01-12,500 | 25,000 MNT | 10 EUR | |
| >12,500 | 35,000 MNT | 20 EUR | |
| Euro (to other countries) | 30,000 MNT | 20 EUR | |
| Chinese Yuan | <100,000 | 10,000 MNT | 50 CNY |
| >100,000 | 20,000 MNT | ||
| Japanese Yen | 12,000MNT+(0.3% when paying in cash) | 0.05% (minimum 2500 JPY) | |
| Korean Won | 15,000MNT+(1.5%when paying in cash) | 20,000 KRW | |
| Russian Ruble | 15,000MNT+(1.5%when paying in cash) | No fee | |
| British Pound | 15,000MNT+(0.3%when paying in cash) | 15 GBP | |
| Hong Kong Dollar | 25,000MNT+(0.3%when paying in cash) | 200 HKD | |
| Swiss Franc | <5,000 | 15,000 MNT | 20 EUR (0.30% for cash transfers) |
| 5,000.01-100,000 | 25,000 MNT | ||
| >100,000.1 | 35,000 MNT | ||
| Singapore Dollar | 20,000MNT+(0.3%when paying in cash) | 25 USD | |
| Turkish Lira | 15,000MNT | 100 TRY | |
| Other | 32,000MNT | 35 EUR |
*Other currencies are CZK, HUF, RON, RSD and HRK.
Fees and charges for recalling and amending international transfers at the customer’s request:
| Amendment, Recall and Return | USD | 30 USD |
| EUR | 50 EUR | |
| CNY | 50 CNY | |
| JPY | 7,500 JPY | |
| RUB | 300 RUB | |
| GBP | 50 USD | |
| HKD | 20 USD | |
| SGD | 20 USD | |
| TRY | 250 TRY | |
| Other | 40 EUR | |
| Inquiry | USD | 30 USD |
| EUR | ||
| CNY | ||
| JPY | ||
| RUB | ||
| GBP | ||
| HKD | ||
| SGD | ||
| TRY | ||
| Other |
Please kindly note that the following information must be obtained from the payee in advance when sending a payment to a foreign country. These include:
- Recipient’s full name, address and document number
- Recipient’s bank name and swift code
- Name of the correspond bank of the payee bank, swift code (if any)
- On the remittance information field, specify the purpose of the payment (for example, tuition, gifts, donation, etc.)
Which party is responsible for the correspondent bank’s fee:
- SHA – Remitter is not responsible for the intermediary bank fees and the fees will be deducted from the total amount by the correspondent banks
- OUR – Remitter is responsible for the first intermediary bank fees. Additionalintermediary bank fees will be deducted from the total amount transferred.
- Fullpay /G-OUR/ – This option is only available for USD transfers. Remitter is responsible for all banking charges and the beneficiary will receive the payments in full amount.
Dear customers, if you are planning to send international wire transfer to foreign countries, please pay attention to the below information:
- If you are a foreign trader and you have received an e-mail asking you to transfer the payment to another account, therefore informing you that the beneficiary information has changed, you should contact the customer via phone call to confirm the changed information.
- If you have lost your personal photo or video to a stranger online and pressured to make payments to them, we advise you to notify the police immediately.
- Please note that, if you receive a notification about a random lottery win or a large amount of cash on your computer or mobile phone and it asks you to transfer a payment in an advance, this is a common case of cybercrime.
- If you suspect that any of the above incidents have occurred or may occur to you, please contact the Police at 11-311606 or 102 for more information and advice. You may also send an electronic complaint to the Police at www.service.police.gov.mn, where you can submit your application.
| БАНКНЫ НЭР | ВАЛЮТ | ДАНСНЫ ДУГААР | СВИФТ КОД | БАЙРШИЛ | |
 |
OVERSEA-CHINESE BANKING CORPORATION /OCBC/ | USD | 503-558751-301 | OCBCSGSG | SINGAPORE |
| SGD | 717-370571-001 | ||||
| HKD | 503-295065-201 | ||||
 |
SUMITOMO MITSUI BANKING CORPORATION | JPY | 5402 | SMBCJPJT | TOKYO, JAPAN |
 |
KEB HANA BANK | USD | 0963THR003000018 | KOEXKRSE | SEOUL, KOREA |
 |
COMMERZBANK AG | EUR | 400878504000EUR | COBADEFF | FRANKFURT, GERMANY |
| GBP | 400878504000GBP | ||||
 |
BAYERISCHE LANDESBANK | EUR | 6370716 | BYLADEMM | MUNICH, GERMANY |
 |
PT BANK NEGARA INDONESIA | USD | 766022285 | BNINIDJA | JAKARTA, INDONESIA |
 |
CHINA CONSTRUCTION BANK | CNY | 15001658408052502829 | PCBCCNBJNME | ERLIAN, CHINA |
 |
AGRICULTURAL BANK OF CHINA | CNY | 05999901040000327 | ABOCCNBJ050 | HOHHOT, CHINA |
 |
BANK OF INNER MONGOLIA | USD | 115914236010000466 | HSSYCNBH010 | ERLIAN, CHINA |
| CNY | 115901236010000573 | ||||
 |
ZHEJIANG CHOUZHOU COMMERCIAL BANK | USD | 15601142320800002742 | CZCBCN2X | HANGZHOU, CHINA |
| EUR | 15601382320800001875 | ||||
| CNY | 15601012320890002740 | ||||
 |
AKBANK | TRY | TR300004600999888000000090 | AKBKTRIS | ISTANBUL, TURKEY |
 |
INTERNATIONAL BANK FOR ECONOMIC COOPERATION | EUR | 30111978300000001734 | IBECRUMM | MOSCOW, RUSSIA |
| USD | 30111840700000001734 | ||||
| RUB | 30111810400000001734 | ||||
| CNY | 30111156100051001734 |
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