Category: Outgoing international remittance

We cooperate with global major banks to provide high-quality, reliable and risk-free international payments for you and your organization. We transfer your payments with 9 types of currencies, through our 30 nostro accounts with CCB Bank of China, KEB Hana Bank of South Korea, Commerzbank AG of Germany, SMBC Bank of Japan, and OCBC Bank of Singapore. Furthermore, we are able to provide our customers with detailed information on the entire transaction process using SWIFT GPI.

Categories
Outgoing international remittance

Features

You can make payments in the 9 most common currencies The most favorable interest rate conditions Additional services for international wire transfer (MT101, MT940)
You can make international wire transfer from anywhere using our Internet banking services Using SWIFT GPI, we can provide our customers with detailed information on the entire transaction process
Categories
Outgoing international remittance

Charges

CURRENCY

 AMOUNT OUR BANK FEE

CORRESPONDENT BANK FEE
U.S. 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

  

35 – 60 USD
U.S. Dollar (to South Korea)

<5,000

 15,000 төгрөг

25 USD

5,000.01-100,000

 25,000 төгрөг
>100,000.01

35,000 төгрөг
Euro /to Germany/

<2,500

 15,000 төгрөг 5 EUR
2,500.01-12,500 25,000 төгрөг

10 EUR

>12,500

 35,000 төгрөг

20 EUR
Euro /to other countries/

–

 30,000 төгрөг

20 EUR
Chinese Yuan

<100,000

 10,000 төгрөг

50 CNY

>100,000

20,000 төгрөг
Japanese Yen

–

 12,000 төгрөг+0.3% (when paying in cash)

0.05% (min. 2,500 JPY)
Russian Ruble

–

 15,000 төгрөг+1.5% (when paying in cash)

–
British Pound

–

 15,000 төгрөг+ 0.3% (when paying in cash)

15 GBP
Hong Kong Dollar

–

 25,000 төгрөг + 0.3% (when paying in cash)

200 HKD
Singapore Dollar

–

 20,000 MNT + 0.3% (when paying in cash)

25 USD
Turkish Lira

–

 15,000 MNT

100 TRY
Others

–

 32,000 MNT

35 EUR
Categories
Outgoing international remittance

Charges for recalling and amending international transfers and inquiries at the request of customer

SERVICES

 CURRENCY

FEE
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
Inquiry

USD

30 USD

EUR

CNY

JPY

RUB

GBP

HKD

SGD

TRY
Categories
Outgoing international remittance

Things to keep in mind when sending international payments

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:

  1. Recipient’s full name, address and ID document number
  2. Recipient’s bank name and SWIFT code
  3. Name of the correspond bank of the payee bank, SWIFT code (if any)
  4. in the remittance information field, specify the purpose of the payment (for example, tuition, gifts, donation, etc.)
Categories
Outgoing international remittance

Terms of the intermediary bank fee

Which party is responsible for the correspondent bank’s fee:

  1. SHA – Remitter is not responsible for the intermediary bank fees and the fees will be deducted from the total amount by the correspondent banks
  2. OUR – Remitter is responsible for the first intermediary bank fees. Other intermediary bank fees will be deducted from the total amount transferred.
  3. Fullpay /G-OUR/ – This option is only available for USD transfers. Remitter is responsible for all banking charges and the beneficiary will receive the payment in the full amount.
Categories
Outgoing international remittance

Mandatory reminders when sending international payments

Dear customers, if you are planning to send international payments to foreign countries, please pay attention to the information below:

  1. 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.
  2. If you have lost your personal photo or video to a stranger online and are being pressured to make payments to them, we advise you to notify the police immediately.
  3. 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 as an advance. This is a common case of cyber crime.
  4. 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.