Overseas money transfer to Iran
Do you want to send money to family and friends in Iran? Here are some best and most important things you should put in mind before doing any transactions.
The best way for money transfer.
From the new order of money transfers, there are no more multi exchange rates to Iran. While transferring money to Iran, there are five best and most preferable ways to do so. One of the ways is through Punjab national bank of India. This is an Indian financial institution which allows its customers to have the privilege of banking through an internet, mobile phone and over the phone along with banking over the counter in its branches.
The Western Union is the best online foreign exchange service in the world. You can do your currency exchange online or over the phone which makes it easier to transfer money from one place to another. Another best way to transfer money is through Aston currency management. It has the best rates on money transfers overseas.
Types of options to send money
It offers different modes of transfer of money that they have like Transfast, MoneyGram, Ezremit, and Xpress Money others through which you can transfer money.
The main bank of Iran is the central bank of the Islamic Republic of Iran. This is a government owned bank which will be more sufficient and secure to transfer money through.
If you are a business person and you want to start a business in Iran, I would recommend the oil and gas business. This it is the best business that holds the economy of Iran. Also, Europe has always been the beneficiary of Iran oil which puts you in a good position to succeed in your business.
In conclusion, I would recommend that you use legal money transfer process to ensure safe and secure transaction.
No more multi exchange rate in Iran? Up until March 2002 there was a multi exchange rate in place in Iran which governed the currency rate Iran money was being exchanged for. The official floating exchange rate was one of these rates within the multi exchange rate system and this was one of the rates that were used for the import of the most essential goods. However they were of course other rates that were used and anyone who previously wanted to send money to Iran needed to be aware of this. By switching to a single rate Iran were able to work toward eliminating the black market and boosting the economy at the same time.
Avoid the street exchange rate in Iran
Although the unofficial street exchange rate is now more in line with the official exchange rate it still never as good as the official rate. This rate tends to be used between smaller businesses and anyone who wishes to arrange a private transaction. So if you are in the process of arranging a currency transfer to Iran you need to be aware of this as your recipient could miss out if he or she uses a street exchange rate to exchange their money.
Important info for foreign exchange in Iran
The most popular currencies foreign-exchange on the streets of Iran is the US dollar. With this in mind that many people arrange a currency transfer to Iran in this currency. People wanting to exchange cash should have $100 bills as these are widely accepted by most of the places who exchange foreign currency.