How to send money to Mongolia in 2026: dollars, yuan or tugriks to an account in 1-3 business days
Money arrives in Mongolia by bank transfer in 1-3 business days in dollars, euros, yuan or tugriks. Since 1 April 2025 the account number has 20 characters, and inside the country prices and payments are in tugriks, so currency is exchanged before paying. A deposit is insured up to $5,600, and a savings account can be opened remotely.
In short
- A transfer to a Mongolian bank takes 1-3 business days in dollars, euros, yuan or tugriks.
- Since 1 April 2025 the account number has 20 characters, and inside the country people pay by phone number.
- Prices and deals inside Mongolia are in tugriks, and currency is exchanged before paying.
- A deposit at one bank is insured up to $5,600 (20 million tugriks).
In detail
Yes, in 2026 money can be sent to Mongolia by bank transfer in dollars, euros, yuan or tugriks to an account at a Mongolian bank: a transfer takes 1-3 business days, and since 1 April 2025 the account number has 20 characters. Inside Mongolia prices and payments are in tugriks, so currency is exchanged before paying for a flat, rent or study.
| Method | On 8 October 2026 | Currency | Time | What you need |
|---|---|---|---|---|
| Bank transfer to an account at a Mongolian bank | works | dollars, euros, yuan or tugriks | 1-3 business days | the 20-character account number and the recipient's name |
| Currency to a currency account with exchange in Mongolia | works | currency, exchanged into tugriks at the bank | exchange on the day of the request | a currency account and a tugrik account at the same bank |
| Money transfer service to an account | works | dollars or tugriks | from minutes to a day | the name as in the passport and the account number |
| A transfer inside Mongolia by phone or email | works | tugriks | seconds | an account at a Mongolian bank linked to a phone or email |
Bank of Mongolia rate on 7 October 2026: 3,595.60 tugriks per dollar, dollar amounts rounded up. Table checked on 8 October 2026.
Can dollars be sent to Mongolia, and which currency pays better
Yes: Mongolian banks accept dollars, euros and yuan and credit them to a currency account with no exchange. Tugriks are needed later, because under the 2009 law on settlements in the national currency, prices, rent, salaries and deals inside Mongolia are stated and paid in tugriks.
Deals with a party abroad are not covered by this rule: a relative in another country sends dollars, and you exchange them as you spend. Currency operations in Mongolia are carried out by authorised banks under the 2002 law on currency settlements, so exchange and transfers go through a bank.
It pays to exchange a large sum in parts for specific payments: the tugrik rate against the dollar changes every day, while money on a currency account keeps its value in dollars.
How money leaves for abroad is also set by the sender's country. If a bank in your country does not send a payment to Ulaanbaatar directly, we will find a legal route together: write to a manager where from and how much you are sending.
An account number in Mongolia: 20 characters instead of the old number
20 characters is the length of a Mongolian bank account number in the international format since 1 April 2025: two letters of the country code, 2 check digits, 4 digits of the bank code and 12 digits of the account itself. For a transfer from abroad you take exactly this number from the bank's app or statement, not the short internal one.
Inside Mongolia transfers are sent by the phone number or email address linked to the account. This is convenient for the recipient, but an international payment needs the full 20-character number, plus the bank's international code of 8 or 11 characters and the recipient's name in Latin letters exactly as at the bank.
An old short number in a payment order from abroad is a frequent reason for money coming back: the correspondent bank cannot find the account and sends the sum back minus its fees.
Before the first large transfer, send a small sum to the new account, for example $50: if it arrived within 1-3 business days and in full, the details are correct, and the main payment will go the same way with no delays.
Sending money to yourself in Mongolia: your own account in tugriks and currency
A Mongolian bank opens an account for a foreigner on a passport at a branch. Anyone staying in the country longer than 30 days first registers with the immigration service within 7 business days of entry, and the bank also looks at the registration document.
A currency account and a tugrik account are more convenient at the same bank: exchange then happens inside the bank in minutes, with no interbank transfer and no extra fee, and a payment for rent or to a developer goes out the same day.
A savings account with no trip to Ulaanbaatar
One of Mongolia's large banks opens a savings account remotely for people who live abroad. For this you prepare:
- a notarised copy of the passport with an apostille;
- proof of address in the country of residence;
- a statement from a foreign bank.
$5,600 (20 million tugriks) is the deposit insurance limit at one Mongolian bank, and the insurance covers both tugriks and currency. If there is more on the account, the money is spread across two or three banks.
We will help you send money to Mongolia
Mistakes cost more than fees: the old short account number instead of the 20-character one, the whole sum exchanged into tugriks on one day at a poor rate, a flat payment not from your own account, a large sum with no documents on its origin. We will help you avoid them: we choose a transfer path from your country, plan the exchange around your payments, prepare documents for the bank and carry out the transfer through licensed partners.
Details and cost are with a manager in the chat: they depend on the amount, the currency and what the money is for - family, study or a flat.
Paying for a flat in Ulaanbaatar: tugriks, registration and tax on sale
A flat in Mongolia is sold to a foreigner with no permits, and the price in the contract is written in tugriks: a square metre in a new building in Ulaanbaatar cost $1,400 on average at the start of 2026.
The path of the money for a purchase looks like this:
- the money arrives on your currency account at a Mongolian bank;
- before the payment the bank exchanges the required sum into tugriks at the day's rate;
- the payment to the seller or developer is sent from your own account, and the statement is kept;
- ownership is registered, and the state fee is $10 (20,000 tugriks).
Tax appears on sale: a seller who has not become a Mongolian tax resident pays 20% of the whole price, and a resident 2%. Those planning to resell the flat later benefit from becoming resident in advance. Prices and districts are covered in buying a flat in Mongolia.
Buying a home in Ulaanbaatar? A manager will work out when to exchange dollars into tugriks and how to make the payment by the deal date.
How much money can be sent to Mongolia: documents by amount
The law sets no limit on the amount of a transfer to Mongolia, and a Mongolian bank looks at the size of the incoming sum and its purpose. Checked on 8 October 2026:
| Amount | What a Mongolian bank looks at | What to attach |
|---|---|---|
| Up to $10,000 | the purpose: family, rent, study | details with the 20-character number and the payment purpose |
| $10,000-100,000 | where the money comes from, if the sum is larger than usual | a 6-month statement and an income certificate or a sale contract |
| From $100,000 | the whole path of the money and the purpose: a flat, a company, a deposit | property sale contracts, inheritance or dividend documents, statements for all accounts along the way |
How to gather the papers is explained in proof of source of funds, sending large sums abroad and moving home sale proceeds abroad.
From $100,000 most often goes to Mongolia for a flat or your own company, and investing $100,000 in a company gives the investor a residence permit. Discuss with a manager the path of a large sum and the documents for the Mongolian bank; how to move capital in full is on the capital relocation page.
Where money goes from Mongolia: Korea, Japan, the USA, Germany
From Mongolia money most often leaves for study and work abroad. Each recipient country has its own rules:
- South Korea - a new account spends up to 1 million won a day, transfers with no limit on the amount
- Japan - a bank transfer in yen, paying for a car by invoice
- The USA - an account on a passport, deposits insured up to $250,000
- Germany - euros from the European Union in 10 seconds, a gift to a child tax-free up to $450,000
Sending money to nearby countries
- China - yuan to a card, exchange up to $50,000 a year
- Kazakhstan - an account by individual identification number, tenge deposits up to $45,000
- Kyrgyzstan - an account for a non-resident in one visit
- South Korea - an account on a foreigner's card
- North Korea - humanitarian projects and paying for a trip
Countries and ways to move capital from Asia and Europe are on the capital relocation page.
FAQ
How many characters does a Mongolian bank account number have?
Can dollars be received on an account in Mongolia with no exchange?
Do dollars need to be exchanged into tugriks to buy a flat in Mongolia?
How much of a deposit at a Mongolian bank is insured?
Can you open an account in Mongolia without going there?
Within how many days does a foreigner register with Mongolia's immigration service?
How much tax does a flat seller pay in Mongolia?
We will suggest the best way to send your money
We will choose a transfer method for your amount and country, prepare the documents on the origin of the money for the bank, make the transfer through licensed partners and follow it until the money is credited. Ask your question in the chat - the manager will suggest the best terms and the cost. The legal side with banks and government bodies is handled by Murblz specialists and locally licensed partners.
Details and cost are with the manager in the chat. Describe your situation and we will reply right away.
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