A Guide to EDBI's Services "Money Remittance" SWIFT Transfer

A Guide to EDBI's Services "Money Remittance" SWIFT Transfer

EDBI has developed, over the years, correspondent banking links across geographies to give its customers access to an extensive global network of contacts that facilitates their international transactions.
Inward Payments

The following SWIFT information is recommended for any fund which is due to be received from the foreign or domestic banks.
Correspondent Bank's Name: ……..…….
SWIFT Code: ………..….
BNF Bank: Export Development Bank of Iran
Respected Branch Name: …….……..
Respected Branch Code: ……………
Respected Branch SWIFT Code: …………..
BNF Name: ………….
Account Number: …………...
Address and Tel of BNF: ……….…
Details of Payment: …………
Outward Payments

Alike inward payments, outward payment orders are available. However, a charge as the transfer fee in local currency (Rial) is levied for this service.
Note: For any outward payment order, the Bank requires clients to present the following information when applying to transfer the funds abroad:

Name, account number and address of remitter/ordering customer
Name, address and SWIFT code of the BNF bank
Intermediary bank details (preferably)
Name, address and account (IBAN) number of the BNF
Reasonable justification of issuing the payment order

EDBI Network Account Transfer

Also there is a possibility that the clients may arrange for transferring the fund within the branch network of the Bank, for which no charges and commissions would be levied.
Hard Foreign Currencies Exchange

To convert hard foreign currencies into each other, the exchange rate will be applied on daily basis and calculated on bid/offer rates.
Exchange to Rial (Purchase of Foreign Currency)

To convert foreign currencies into Rial, the exchange rate will be applied on daily basis and calculated on bid/offer rates.
Note 1: There is no fee for conversion out of customer's account, but in case of cash payment, a fee in Rial basis or foreign currency will be collected.
Note 2: Should the foreigners or tourists present the previously exchanged sale voucher to the bank, they can change the surplus amount (in Rial) and receive its equivalent in other currencies.
Note 3: The exchange will be made in accordance with EDBI's rules and regulations.
Cash Receipt

The customers can make cash withdrawals from their own foreign currency accounts. There is a fee in Rial or foreign currency for this service. The requests for cash payments of more than USD 10,000.00 or the equivalent in any foreign currency are appreciated to be arranged with the related bank division/branch beforehand.
Checks Issued in Foreign Currency Collection

Should the conditions are observed and collection route is available, all the checks drawn in foreign currencies are collected.
Note 1: Holding an account with one of EDBI's branches is necessary for customer to be able to collect check in the related branch.
Note 2: All the fees and charges (including post and collection charges) are for the account of check collector and will be obtained in advance.