How to open a bank account in NIBank (National Investment Bank)

SWIFT - USD 20 (fix) + USD 6(min)-16(max) (depending on the amount)

No fees are charged on incoming transfers

Annual fee for account - EUR 20 per year

Internet banking

The bank offers a full range of personal banking services, including cash and settlement operations, investment banking, brokerage services, depositary services, loans, deposits, guarantees

VISA, local debit cards

An account can be opened without a visit to Mongolia

For legal entities: set of corporate documents, completed bank forms for the company and the owner, bank statements from another bank for 3 months, office rent agreement, cash flow chart, ownership structure chart etc. For individuals (directors / shareholders / beneficial owners / attorneys): proof of ID (passport), proof of address (not older than 3 months), CV, bank reference

Personal; Corporate; Savings; Current

It is possible to open an account without visiting the country where the bank is located; It is possible to open an account without meeting the banker

Predictable

Detailed: in addition to business description, the origin of funds and nature of transactions needs to be disclosed: Business description for the company – description, website, links to groups in social media and mass media; Business description for group/holding/resident business – description, website, links to groups in social media and mass media; Cash flow chart (incoming and outgoing transfers, to/from whom, for what, counteragents’ names/websites, average sum of a transfer/transfers per month, turnover per year); Details of beneficial owner – passport (international and internal with residential address, short business or professional bio), in what other companies he/she is also a shareholder and/or director. Depending on the information provided, additional documents may be requested.