Category: Escrow account

TransBanks escrow service is most commonly used by contracting parties and allows you them to open an account at our bank, where we securely transfer payments with the consent of all parties involved in the contract.

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Escrow account

Benefits

  • 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;
Categories
Escrow account

Terms and conditions

Terms

 Terms of Contributions and Fees
Account currency MNT USD EUR CNY

JPY
For the contract of sale and purchase of an apartment:

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:

The Receiver side

 0.1% 0.1%
Up to MNT 100,000

Currency equivalent to MNT 100,000

Payment side

 0.1% 0.1%
Up to MNT 100,000

Currency equivalent to MNT 100,000
Categories
Escrow account

Other fees

Other fees for current and savings accounts

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Escrow account Home

Eligibility or required documents

  • Customer application form /download here/
  • Provide a copy of the contract signed by both parties, along with the original document.
  • For Mongolian citizens: Citizens ID card;
  • For Foreign citizens: Passport and certificate of alien registration