FX transfer is a kind of payment order that a bank issues at the request of its client payable by one of its correspondent banks in and out of the country and order to pay to the beneficiary.
Generally, FX transfers are two types:
A) Out Ward Transfers:
After referring to the FX branches of bank and requesting for issuing FX transfer and introducing the transfer's currency (from the FX account, customs declaration, deposit in cash, buying currency based on agreement from free zone and �), bank issues FX transfer payable by internal and external correspondents, by SWIFT and in the shortest time. It's possible to issue FX transfers in two ways:
1) To issue FX transfer payable by the foreign correspondents (banks) throughout the world.
2) To issue FX transfer payable by all of the internal banks in hard currencies.
B) In Ward Transfers:
It's a payment order forwarded to bank by the correspondents (internal and external banks) and after receiving the SWIFT message and advising to the related branch in the shortest time it is possible that the client receive the fund.
- At present, FX regulations authorize the beneficiary to keep the transfer's currency in FX accounts or sell it to the bank at floating rate or transfer it to the outside of the country or exchange in other currency or transfers it to his or other person's passport.
- It's possible in the Bank network to receive transfers in hard currencies by SWIFT throughout the world.
It's possible to collect all of FX cheques payable by the internal and external correspondent within the bank's regulations in the shortest time. The clients refer to all of this bank's FX branches all over the country for collecting their FX cheques amount.
FX buying and Selling Services
A) FX Buying
Bank ANSAR buys maximum USD 15000 of notes or its equivalent in hard currencies at the present. It's possible to purchase foreign currency as bank notes up to the ceiling stated in the declaration.
There is no limitation for buying collectable transferred foreign currencies through international banking system namely FX transfers, traveler's cheques and other banking valid instruments and the balance of FX accounts.
FX buying in excess of the above ceiling is affected in accordance with the anti-money laundering regulations.
B) FX Selling
FX selling for following usages in addition to commercial FX selling is allowed according to the principles.
1) Traveler's FX:
Maximum 2000$ or its equivalent in other currencies for passport's owner and 2000$ or its equivalent for any fellow traveler in any travel.
Note: selling of traveler's FX in EUR is done as above for maximum EUR 2000 in any travel.
Valid passport of Islamic Republic of Iran, aerial, terrestrial and marine travel ticket and the traveler's declaration concerning buying of traveler's FX only from one place such as bank, non banking credit institute or authorized exchange.
2) Selling Medical Treatment FX and Residence Charge:
Maximum 3000$ presenting related confirmation and estimation of the abroad cure center's charge or with written confirmation of internal related doctor in which has been written the necessity of continuation of the treatment in abroad and the amount of necessary currency. For more amounts, taking the confirmation from high medical council or Health Departments of Capital Cities, stating the necessity of continuation of the treatment, the amount of necessary currency for treatment and residence period is necessary.
3) Providing foreign exchange for exporters of non oil goods and technical and engineering services to buy tender documents and also for traders and business card holders to procure the marketing expenses:
3.1- For buying of tender document through presentation of Export Development Center's confirmation or that of provincial commercial departments.
3.2- For travel and marketing expenses maximum USD 10,000. in addition to traveler's foreign exchange, requiring presentation of Export Development Center's confirmation and that of provincial commercial departments and written letter of undertaking from exporters evidencing return of the additional foreign exchange after the trip. For extra amount, presentation of advertising and marketing plan to Export Development Center and its confirmation is required.
4- Selling of foreign exchange at an agreed rate in different branches of Bank ANSAR, through Kish Independence branch, according to the client's requested amount.
5-other cases such as costs relevant to educational courses inside and outside of the country, membership and registration fee in the international and scientific organizations and societies, registration fee for taking educational and professional exams inside and outside of the country, scholarship fee, foreign exhibition fees and all other cases authorized in the instructions of Central Bank of Islamic Republic of IRAN.
It is noticeable that presentation of valid identification certificates is required for all FX affairs such as transfers, check collection and buying and selling of the foreign currency.