Exchange
Golomt Bank provides you pleasant currency exchange service.
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Advantages:
- If customer who wants to exchange currencies, does not have a deposit and current account, he / she can transfer overseas through a trading account.
- Based on the frequency and basis of trading, the bank will be flexible on exchange rates adjusted.
- Costumer can get professional advice on trading issues.
Considerations of Foreign exchange:
- Transaction above limit: Explained above, daily limit within branches on each transaction is 25 million Tugriks. Above the limit, new favorable and flexible conditions will be offered after contacting with Treasury team.
- Difference between cash and noncash transactions: Cash transaction which requires currencies to be physical, involves foreign currency in cash and foreign currency which is settled into saving account. On the other hand, noncash transaction includes all settlements which are transferred into current account, loan account, another account at another banks in given currency. For example, customer will receive exchange rate of cash on transactions which are transferred from deposit account in MNT to USD. The reason is that deposits in foreign currency are products of cash payment and customer can withdraw any amount within outstanding number without any fee. If customer wants to make non-cash transactions, we recommend customers to use current account.
1. Cash Currency Fee % USD 0.50% /1-50 USD bill/ CNY 0.50% /1-50 CNY bill/ EUR 0.50% /1-50 EUR bill/ RUB 1.50% KRW 1.50% JPY 0.15% HKD 0.40% AUD 0.40% CHF 0.40% CAD 0.40% SGD 0.40% NZD 0.40% SEK 0.40% Other currencies Free of charge 2. Cash withdrawal USD 0.40%+200 MNT RUB 1.50% + 200 MNT CNY 0.40% + 200 MNT EUR 0.40% + 200 MNT SGD 0.50% + 200 MNT AUD 0.50% + 200 MNT JPY 0.50% + 200 MNT HKD 0.60%+200 MNT CHF 0.60%+200 MNT GBP 0.60%+200 MNT CAD 0.60%+200 MNT NZD 0.70%+200 MNT KRW 0.30% + 200 MNT 3. The conditions set out in first term, shall apply to all types of cash deposits except for currency exchanges. 4. Current account cash withdrawals and non-cash deposits into savings accounts shall be subject to the conditions set forth in second term.
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