In addition to domestic banking services, PBI plays a
leading role in providing international banking and financial facilities to the
customers like below services:
(Foreign Exchange)
Foreign
exchange services of Post Bank of Iran are as fallows
● Issuing / Advising / Negotiating
different types of letter of credits
● Collecting Documentary Bill of
Exchange
● Issuing International Money Orders
● Buying & selling foreign
currencies
● Opening current account in (foreign
exchange)
● Opening Gharz- al – Hassaneh savings
account
(foreign exchange)
● Opening long – term deposits
(foreign exchange)
Buying
and Selling Foreign Currencies
In
accordance with Foreign Exchange Regulations of Central Bank of Iran (third
chapter), all services are available in Post Bank Iran
Money
Order
(commercial/non-commercial)
Post Bank’s
customers are able to transfer their drafts/ to receive them in the possible
shortest time with the least expenditure costs. It should be mentioned that the
draft to import goods is available through Iran’s Central Bank foreign
currencies.
Opening/Advising
Letter of credit
To aid the
export and import activities of the Iranian traders, PBI utilizes an extensive
network of correspondent banks throughout the world to open various types of
sight/deferred letters of credit at all its forex branches.
Collecting
Bill of Exchange via utilizing Iran’s Central bank Facilities
Post bank
Iran also active in collecting bill of exchange and deliver the services in all
forex branches
Issuing
(Forex) Letter of Guarantee
(for
import /Export)
A customer often provides a vendor with a letter of
guarantee when the vendor is uncertain whether the customer can pay an invoice.
This is especially common with purchases of costly equipment or other property.
However, a letter of guarantee may not cover the whole amount of the debt. For
example, a letter of guarantee in a bond issue may promise either interest or
principal repayment, but not both. Also, in some cases, a letter of guarantee
holds a guarantor responsible for other guarantors’ repayments if they default
on their agreements.
Bank guarantees are instruments for securing and enforcing
the claims of parties to foreign trade contracts. In international trade
dealings, buyers and sellers often face similar problems. A seller might find
it difficult to assess the buyer’s willingness and ability to pay, while the
buyer might not be sure that the seller genuinely intends to perform its side
of the contract or has the necessary financial and technical resources to do
so. Post Bank is offering its customers
and correspondent banks a full range of guarantee instruments in the framework
of domestic and international rules and regulations, acting as their supporting
partner with decades of experience and extensive expertise in guarantee
business.
Opening
Forex Long Term Deposits
This kind
of account can be used as Movement of funds within cheques. Transferring and
issuing money orders from this account, depositing inward money order funds and
depositing up to USD5000 (or an equivalent in other currencies) in cash.
Depositing more funds will be legal under observing the money laundering
law
Opening
Foreign Exchange Long Term Deposits (up to one year)
It is one
interest-free account. Customers can open this kind of account with minimum
USD100, (or an equivalent in other currencies) and they will get the benefit of
the prize-drawing (of Gharz-al-hassaneh savings account)
Depositing
inward money order funds, transferring and issuing money orders and depositing
up to USD 5000 (or an equivalent in other currencies) in cash are the services
of this account.
Depositing
more funds will be legal under observing the money laundering law
Depositing
more funds will be legal under observing the money laundering law
Cashing
Forex Checks
Post Bank’s
customers are authorized to visit the Forex branches throughout the country.
They could transfer the amount of checks to their accounts after handing it
over to the bank. Issued checks which are drawn domestically are sent the bank
of issue for clearance and the amount is deposited into the beneficiary’s
account.