Category: Escrow account

We offer you an escrow account service that allows you to protect yourself from the risks that may arise when trading or buying high-value assets. By choosing this service, the bank assumes the obligation to securely transfer payments with the consent of the parties to the contract.

Categories
Escrow account

Benefits

  • Can prevent from the potential multilateral issues, misunderstandings and doubts between the parties and cover risks;
  • Reliable and safe transfer of the funds by the bank with the consent of the parties who are subject to the terms of the agreement;
Categories
Escrow account

Terms and conditions

Terms MNT USD EUR CNY

JPY

On purchase agreements for property and real estate’s sale:

Seller

 20,000 10  10 70

1,000

Buyer

 20,000 10  10  70

1,000

Other:
Seller 0.1% 

/Up to 100,000 MNТ /

0.1% 

/Currency equivalent to 100,000 MNT /

Buyer

 

Categories
Escrow account

Fees and charges

Other current and saving account fees

Categories
Escrow account

Eligibility or required documents

  • Customer application form /download here/;
  • An original copy and a copy of the agreement between the parties;
  • Documents required:
    • For Mongolian citizens: Citizen ID card;
    • For Foreign citizens: Passport and certificate of alien registration;
Categories
Escrow account

Required materials | For Foreign citizens

  1. Passport and certificate of alien registration;
  2. Dear client, we inform you that if you are not able to come to the bank in person to open an account and use the bank’s products and services, you can receive these services through a representative based on a power of attorney. A representative (a person authorized by the client) has the right to act on your behalf within the limits of the powers granted by the power of attorney given by you.
CLICK HERE for a list of documents required;
CLICK HERE for a legal authorization form.