STBMMNUB

Payment Instructions

General instructions for international payments to banks in MONGOLIA:

• Ensure to obtain all required bank information from the Beneficiary (e.g., SWIFT BIC, account number, and beneficiary bank address).
• For additional information, refer to www.mongolbank.mn/eng.
• Payment Restrictions: Banks may impose limits up to 25% of the company or individual’s equity capital on total cash FX purchases for each business day.
• Ordering Customer (SWIFT MT103 F50): Include account number, full name (no initials), and address of the ordering customer. Avoid using initials to prevent delays.
• Beneficiary Customer (SWIFT MT103 F59): Include account number, full name (no initials), and address of the beneficiary customer. Avoid using initials to prevent delays.
• Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with branch identifier, full name, and address of the exact location of the beneficiary bank. SWIFT BIC consists of 8 or 11 alphanumeric characters: xxxxMNxx or xxxxMNxxxxx.
• Reason for Payment (SWIFT MT103 F70): Indicating the purpose of payment is recommended.
• The Bank of Mongolia reserves the right to revoke FX payments for failure to provide timely reporting, accurate information, and timely payment settlements.

IBAN: No

Correspondent Banks

Standard Settlement Instructions (SSI) contain the list of correspondent banks of STATE BANK for each currency.

Payment Tracking

To track a SWIFT cross-border payment to or from STATE BANK, you need a UETR code, reference number, amount, payment date, and currency. This information is typically found in an MT103 form.

Disclaimers

We are doing our best to demystify cross-border payments, however TrackMySwift is not responsible for any delays or losses related to usage of the information and services from our web site. Please contact your banks to receive a safe advise. Country-specific payment instructions have been prepared based on Global Wires Payments Formatting Requirements Guide from J.P.Morgan.