Send Money to Mongolia

GCEN
Margin Rate: 0.8%
Minimum Transfer: £2000
Transaction Fees: £0
FCA Regualted: FCA Regulated
HIFX
Margin Rate: 5%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
IFX
Margin Rate: 1%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
World First
Margin Rate: 0.7%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated
Currency Solutions
Margin Rate: 1%
Minimum Transfer: £5000
Transaction Fees: £0
FCA Regualted: FCA Regulated

Countries in Mongolia

Send Money Transfer to Mongolia

Mongolia uses the togrog (MNT) and has 14 commercial banks operating across the country, therefore a wire transfer is possible provided the beneficiary has an account there. There are no restrictions on currency transfers. For businesses, Mongolia welcomes overseas investment with no restrictions on foreign ownership.

If you want to send cash without using a bank account or if you do not have one yet, you can opt for a worldwide money transfer service via a Money Sending Bureau. These establishments are found in major cities around the world and there are a number of money sending bureau locations in Mongolia. With this option however you will need to pay a significant commission on the transfer and it is worth looking around as fees can vary from just a few percent to as high as 15% of the sum being sent. These institutions also often comparatively poor exchange rates so again the total costs need to be considered.

The procedure is however relatively simple: You take the money you would like to transfer to an office in cash or pay by card. You have to fill in a form, pay the service fee, and show a valid ID. Alternatively, you can process your money transfer online.

Bank Note System
Banknotes: 1, 5, 10, 20, 50, 100, 500, 1000, 5000, 10000, 20000 Togrog

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