CMT Money Transfer to Mongolia
Different people have different reasons for sending money abroad. Some of it for friends and family who might be in need of some cash, some - buy and sell property if they are planning on moving. These days it is not an uncommon thing for people to buy and sell the property via a bank transfer overseas. Also, there are people who are paying bills or school fees abroad. If you need to send money to Mongolia, here are a couple of things to take into account.
Best ways to make a money transfer
Sometimes when you're faced with money transfers overseas there are quite a few things to come into consideration. Nothing is stable for a long time with Mongolia's economy, since it is still in its development stages. The rates of the currency - the Mongolian Tugrug are constantly changing, so before you do the transfer - look at the exchange rate.
At the moment the most popular exchange rate is with USD making the money go a long way.
Bank transfer remains the safest way to send money to friends or family in Mongolia. You can use travellers cheques, but it isn't as safe as a direct transfer. Also, take into considerations accessibility outside Ulaanbaatar, the country's capital.
Banks and restrictions on sending and receiving money
In the last years transferring money to Mongolia has become much easier because the country now has a presence of foreign exchange specialists. They can help you to send and receive money as well as advise you on sending large amounts. They have managed to exchange money for their client while still being in profit.
There are at least 11 different banks in Mongolia, making the task easier. However, you should be aware that all currency is limited and its limitations are declared when arriving in the country.
If you need to send money to Mongolia, different companies offering the service will take a commission that is in the range between 1% and 5% but there is a guarantee of safety.
Doing Money Transfer to Mongolia?
Expats often face a predicament when they face situations related to money transfer. In the fast evolving economy nothing remains stable. The currency rates keep fluctuating on a daily basis that increases or decreases your purchasing power. So you must be cautious when you decide to transfer money to Mongolia.
Foreign Exchange Specialists in Mongolia?
Money transfer to Mongolia has become considerably easier due to the presence of foreign exchange specialists. They help you to send money to Mongolia on a regular basis and also help in transferring large amounts. They offer you the best exchange rates while managing to make profit for themselves. They specialise in foreign exchange services so you can be assured that their services will be exclusive.
Providing money services in Mongolia?
Foreign exchange specialists treat you like a privilege customer and advise you on the best currency rate in Mongolia. The Mongolian Tugrug or MNT is the official currency of Mongolia. The Banks of Mongolia fixes the exchange rate of tugrug in comparison with the currencies that are bought and sold in the market. The export and import of foreign and local currency is subjected to the limit that is declared on arrival.