International settlement

XacBank provides our clients with the ability to transfer payments to any country in the world within seconds from the convenience of their home, office, mobile phone, and every branch of XacBank in Ulaanbaatar as well as the 21 provinces around the country.

XacBank will transfer your payments according to your instructions to any country in the world through internationally reputable banks within 1-2 business days.

To see the list of our correspondent banks, please click here.

Features and advantages

• Pay settlements reliably and quickly through the most extensive network with our S.W.I.F.T service;
• Settlements are made through the 10 most universal currencies. Including: USD, EUR, CNY, JPY, KRW, AUD, GBP, CAD, HKD, SGD;
• S.W.I.F.T service is available at all XacBank's branches in Ulaanbaatar and throughout the 21 aimags in the country;
• S.W.I.F.T settlements are also available through our internet and mobile banking, so payments can be made from anywhere in the world, at your convenience;
• Get advice and information on international remittances;
• Competitive fees and commissions.

Receiving payments from abroad:

Complete the "Beneficiary Form" and E-mail or fax a copy to the beneficiary.

In accordance with the sender's information, the payment will be remitted into your account without any delay. From the list below, please select the currency in which you wish to receive the remittance, and complete the "Remittance Requisite Form".

• USD
• EUR
• YEN
• CNY
• KRW
• CAD
• AUD
• HKD
• SGD

Transferring money abroad:

You will need to fill out the "Foreign Remittance Form", which is available at every branch of XacBank, with detailed information about the beneficiary and submit the completed form to a XacBank employee. Alternatively, you can fill our and submit the form through our mobile internet banking service.

Considerations:

• Detailed information about the beneficiary, including bank information, account number, full address, phone number, and remittance purpose must be filled in accurately and legibly. Inaccurate, incorrect, or incomplete information may cause the remittance to be delayed or canceled.
• For Chinese RMB/CNY remittance, it is required to provide the beneficiary’s name and bank information in Chinese characters. Exceptions: Chinese characters are not required for following cases:
  • Remittance to Erlian city branches;
  • Remittance to Agricultural Bank of China accounts.
• For European and Caribbean EUR remittances, the IBAN /International Bank Account Number/ is required
• For goods, invoice of the purchase is required.

XacBank SWIFT code: CAXBMNUB

Fees: