- Earn high returns in a short period of time;
- Hedging against exchange rate risk;
- Earn your interest on quarterly basis;
- Withdrawals are allowed for 7 calendar days in each quarter;
Categories
Category: Organization
Categories
Benefits
- Newly established organizations with incomplete documentation can open a current account;
- Organizations may still receive incoming payments even if required documents are not yet fully submitted;
- Materials must be submitted within 30 days;
- After the materials are fully prepared, outgoing transactions will be enabled;
Categories
Terms and condition
| Terms | MNT | USD | EUR | CNY | JPY | RUB | KRW | GBP | SGD | HKD |
| Annual interest rate | 3.0%* | 1.2%* | 1.2%* | 1.2%* | 1.2%* | – | – | – | – | – |
| Account opening fee | No fee | |||||||||
| Monthly service fee | No fee | |||||||||
| Minimum balance requirement | 5,000 MNT | 5 USD | 5 EUR | 35 CNY | 500 JPY | 100 RUB | 5,000 KRW | 5 GBP | 5 SGD | 3 HKD |
| Account closure fee | 5,000 MNT | Foreign currency equivalent to 5,000 MNT | ||||||||
| Description:
– An account for the organization’s payments. |
||||||||||
| – * is the maximum rate of the interest rate on the product | ||||||||||
- Customer application form; /download here/
- Official letter; /Request to open an account/
- Authorized signature, stamp /must be authorized by notary/; /download here/
- For Mongolian citizens: Citizens ID card;
- For Foreign citizens: Passport and Certificate of Alien Registration;
-
Confirmation page;
- If the Shareholder is an organization, then the State Registration Certificate of the organization, if not, a reference to the E-Mongolia system
Categories
List of Correspondent Banks
| BANK | CURRENCY | ACCOUNT NUMBER | SWIFT CODE | LOCATION | |
 |
THE BANK OF NEW YORK MELLON | USD | 8901797057 | IRVTUS3N | NEW YORK, USA |
 |
OVERSEA-CHINESE BANKING CORPORATION /OCBC/ | USD | 503-558751-301 | OCBCSGSG | SINGAPORE |
| SGD | 717-370571-001 | ||||
| HKD | 503-295065-201 | ||||
 |
DBS BANK | SGD | 037-003681-0 | DBSSSGSG | SINGAPORE |
 |
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 |
 |
BANK OF CHINA | USD | 150889705214 | BKCHCNBJ880 | HOHHOT, CHINA |
| CNY | 155689709276 | ||||
 |
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 |
Categories
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
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 |
30 USD |
||
|
U.S. Dollar (to South 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 |
<50,000 |
5,000 MNT |
50 CNY |
|
50,000.01-100,000 |
10,000 MNT |
– |
|
|
>100,000.01 |
15,000 MNT |
– |
|
|
Japanese Yen |
– |
12,000 MNT + 0.3% (when paying in cash) |
0.05% (min. 2,500 JPY) |
|
Russian Ruble |
– |
15,000 MNT + 1.5% (when paying in cash) |
– |
|
British Pound |
– |
15,000 MNT + 0.3% (when paying in cash) |
15 GBP |
|
Hong Kong Dollar |
– |
25,000 MNT + 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 |
|
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 |
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|
RUB |
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|
GBP |
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|
HKD |
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|
SGD |
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|
TRY |
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 ID document number
- Recipient’s bank name and SWIFT code
- Name of the correspond bank of the payee bank, SWIFT code (if any)
- in 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. Other intermediary 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 payment in the full amount.