Current Account

Benefits:

  • Available to get corporate loan;
  • Make and process internal and external payments and withdrawals through your account;
  • Make transactions through your account anywhere in the country;
  • Receive regular account statements and manage your transactions;
  • Receive financial advice;
  • Internet banking transactions, checking accounts, and monitoring your account.

Product terms:

Terms MNT USD EUR CNY JPY RUB WON GBP
Nominal interest rate 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Effective interest rate 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Minimum balance for interest 0 MNT 0 USD 0 EUR 0 CNY 0 JPY 0 RUB 0 WON 0 GBP
Minimum balance 5,000 MNT 5 USD 5 EUR 35 CNY 500 JPY 100 RUB 5,000 WON 5 GBP

Non-cash transaction

Services MNT Currency
Transaction between TransBank accounts
All personal accounts 100 MNT Currency equivalent to 200 MNT
Transaction between other bank accounts
Non-cash transaction Transaction amount              /up to 3,000,000MNT/ 200 MNT Currency equivalent to 1,500 MNT
Transaction amount        /above 3,000,001 MNT/ 500 MNT
Cash transaction between other bank accounts 1,000 MNT Currency equivalent to 1,500 MNT

Cash transaction

  Currency Amount of Banknote Other currency
Income* USD Banknote 1, 2 and 5 2.00% No fee
CNY Banknote 1, 5, 10, and 20 2.00% No fee
RUB Banknote 10, 50 and 100 3.00% 1.50%
KRW 1.50%
*The customer will be charged a fee if customer make transaction using banknotes specified in the table when making currency exchange, loan interest and principal payments, making transactions and making income in customers foreign currency account.
Expenditure transaction* Currency Fee
MNT 200 MNT
USD 200 MNT + 0.2%
EUR 200 MNT + 0.3%
CNY 200 MNT + 0.4%
JPY 200 MNT + 0.3%
GBP 200 MNT + 0.3%
RUB 200 MNT + 1.5%
KRW 200 MNT + 1.5%
*Interest paid on foreign currency current and savings accounts of individuals and organizations, non-cash transferred income and fee for cash disbursement of foreign currency purchased to customers' accounts at non-cash exchange rates.

Other

Services MNT Currency
Open a bank account No fee
Service fee
Active current account No fee
Temporary inactive or suspended current account /monthly/ 2,000 MNT Currency equivalent to 2,000 MNT
Demand deposit /year-end/ 1,000 MNT Currency equivalent to 1,000 MNT
Dormant account /monthly/ 2,000 MNT Currency equivalent to 2,000 MNT
Cancel a bank account
Cancel a current account 1,000 MNT Currency equivalent to 1,000 MNT
Cancel a savings account 1,000 MNT Currency equivalent to 1,000 MNT

Documents required:

  • Account opening application /download/;
  • Offical request letter to open a bank account;
  • Official notarized copy of State Registration Certificate;
  • Copy of charter of the company;
  • Notarized signature of applicant /download/.