Financial transactions for tourists have never been easier. You might be thinking about possible ways to handle money during your travel to Iran. Or, maybe your friend is visiting Iran and s/he has to move some cash and you are looking for ways to help them out.
A glance at google search results suffices to reveal that credit cards like Master Card and Visa are not accepted in Iran; neither in the banks nor in the hotels and shopping malls. But it’s been a while that tourists are being issued multiple purpose Iranian prepaid cards. Therefore, it is highly recommended that those who visit the country acquire such cards. It makes all sorts of transactions easy and convenient for you.
Now that you have got your Iranian debit card, you must be wondering about how you can move your money to another account or card. Luckily, there are several super simple ways to transfer money in Iran: going to the bank, using a mobile app, using an ATM.
Well, of course, the first thing you need is an individual bank account in Iran. While some organizations provide tourists with gift cards, others like Mahcard present you with prepaid cards of your own.
As in most banking systems, the bank card you are issued with represents an active bank account. You are not obliged to carry big loads of cash with you and do not have to stop at exchange offices every now and then to change your money. Most of all, you will eventually be able to transfer money just like a local!
Awesome. Now, we shall take a closer look at the different modes of money transfer.
This is the old school way: the user of the debit card goes to the bank and fills the transfer request from. See? It’s cinchy!
If the recipient of the money has an account in the same bank as you do, the process is finished asap. All you have to do is write in their debit card or account number. However, if they have an account with another bank, you are going to need the recipient’s banking account ID, so-called ‘Sheba’ in Iran.
Obviously though, in the world of internet and online banking, getting out of the house for doing pretty much anything seems a little bit extra.
If you’re like “who’s gonna go all the way to the bank!?” then the below option will fit in better with your expectations.
The menus of Iranian banks’ ATMs come in both Persian and English. And these machines are not just for withdrawing paper money. You may do plenty of other transactions as well, such as generating a credit code for your sim card or moving money.
Transferring money in this way requires you to know the recipient’s bank card number.
(Some steps might be different as to which bank’s ATM is being used)
Our cellphones have become our online wallets, linking us to a vast network of banks; so swell, isn’t it?
Every debit card owner in Iran is provided with the ability to carry out online transactions. During the past few years, with the pervasive advent of smartphones and wireless technologies, fewer people go to banks to move or deposit money. A good variety of e-banking apps, as well as the banks’ apps, facilitate money transfer and other operations.
Of course, there exist other ways like drawing a cheque on your account. However, it is usually used for business transactions. The locals themselves do not make use of this method as much. Plus, some banks enable their customers to take advantage of USSD codes on their phones to process transactions. To do so, the owner of the debit card must have registered their cell number at the bank.
Notice: In most of the abovementioned methods, you will be charged a nominal fee for the transference. 5000 rials for amounts less than 10,000,000 rials (approximately 74 US dollars – 66 euros), and an extra 2000 rials is added for every 10,000,000 rials.
Although as soon as you reach the borders of Iran, major international credit cards are rendered null and void, this does not mean that handling money comes about as difficult or unworkable. In effect, the growing tourism industry has persuaded many businesses to find a way around such inconveniences. Mahcard, for instance, supplies tourists and travelers who come to Iran with debit card accounts.
Getting access to a debit card offers you many possibilities. You can transfer your money anywhere and at any time in Iran.
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