Thursday12 December 2019 Partners     FA
Exchange services

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.