Here Are Ways to Send Money to Mongolia Easier

Information verified correct on October 28th, 2016

Find out which money transfer Palace-of-the-Bogd-Khancompanies you can use to send money to Mongolia.

An influx of immigration in the 1990’s and 2000’s following the fall of the Mongolian communist regime saw Australia’s Mongolian community grow dramatically in number. The immigrant population jumped up by more than 170% between the 2006 and 2011 census. If you need to send money to Mongolia — whether to family, friends or for business — not every money transfer company can help.

Mongolian tugriks are not a major currency, the lack of services that can exchange AUD to MNT reflects this. We list and compare the different companies you can use to send money to Mongolia below.

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Banks versus money transfer companies

Banks do not publish AUD to MNT exchange rates. You can view your banks rate when you login to your online banking facility. Other services like Western Union can only send United States dollars to Mongolia.

Money Transfer Company 1 - BankMoney Transfer Company 2 - International cash payment serviceMoney Transfer Company 3 - Online money transfer company
Exchange rateN/A$1 AUD = $0.6860 USD$1 AUD = 1432.543 MNT
Transfer fee$20$70.00 AUD$10.00 AUD
Amount received for $1000AUD (In Mongolian tugrik)N/A$686.02 USD1,432,542.62 MNT
Transfer time2 - 6 business daysMinutes2 - 6 business days
Transfer optionsBank account depositCash pickupBank account deposit
Difference ofN/AN/AN/A

Correct 10.00AM 15/02/16

How do I compare transfer companies?

  • Exchange rate. First look at whether the provider will actually let you send money to Mongolia. Then look at the currency the provider can send. For example, Western Union can make a cash payment to Mongolia in USD opposed to MNT.
  • Transfer time. The transfer time is based on the payment and collection options. Transfer time can be as quick as under 10 minutes or as slow as 6 business days. Paying for your transfer by bank deposit can add a couple of days to the transfer time. Cash and card payments clear almost instantly.
  • Payment options. Most providers accept bank account deposits as a payment method. You can also pay for your Mongolian money transfer by credit or debit card in some cases.
  • Collection options. Does the recipient want the money deposited in their bank account or do they need to get cash quickly. This question will determine your choice of service.
  • Transfer options. Can you do more than just make a one off payment to Mongolia. Some providers offer features suited towards currency traders such as limit orders and locking in a rate in advance.
  • Limits. If you’re looking to make a small or large transfer, for example less than $100 or more than $,5000, compare the transfer limit.
  • Customer service. It can be reassuring if there’s a customer service agent on hand to answer any questions you may have about your money transfer to Mongolia.
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How do I send money to Mongolia from Australia?

You can send money to Mongolia directly from your bank account, you can send cash using an international cash payment service or make a bank deposit using an online money transfer company.


Logon to your online banking facility and select the pay anyone and international payments options. You may need to create a new beneficiary. You can do so using payee’s account details including the BIC and SWIFT code.

International cash payment services

International cash payment services such as Western Union and MoneyGram can send cash to Mongolia in minutes. Transfer fees are higher than the other services listed on this page; however, if speed is your main concern, compare these providers to send money to Mongolia quick.

  • MoneyGram. MoneyGram can send cash to a MoneyGram agent in Mongolia. Visit a MoneyGram agent in person to pay cash or pay for a transfer online using your credit or debit card.
  • Western Union. Western Union have agents throughout Mongolia. Western Union are represented by a mixed range of merchants in Mongolia whereas MoneyGram are mainly partnered with banks.

Money transfer companies. The following companies operate online and can deposit funds in a Mongolian bank account.

  • Compass Global Markets. Compass Global Markets can send money to a Mongolian bank account in 2 - 4 business days.
  • Worldfirst.  Make one off payments as well as spot contracts, forward contracts or fix a rate in advance.
  • PayPal. Send money to a Mongolian PayPal account by entering the recipient's email or mobile number. The money needs to be transferred to a bank account to be withdrawn.
  • XE. Make online transfers to Mongolia, XE offers a variety of payment options.

How do I receive money from Mongolia in Australia?

The method to receive money from Mongolia in Australia depends on how the funds are being sent.

Bank account transfers. If you’re receiving a payment into your bank account, you’ll need to provide the following information:

  • Your name, address, bank account number and BSB
  • Your bank’s SWIFT code and BIC

Cash collection. If you’re collecting a cash payment in person, you’re required to provide the following to the cash agent:

  • Your identification
  • The transaction reference number of unique password

PayPal. Provide your mobile number or your email address to receive a payment in your PayPal account. You’ll need to withdraw the funds from your PayPal account to access the money.

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Emergency cash transfers in Mongolia

Your options for getting cash to Mongolia quickly:

  • Card emergency assistance. Card schemes such as Visa or MasterCard can make the money in your account available as cash if you card is lost or stolen. It can take about a day to process a request for emergency cash assistance and funds can be collected from a Western Union agent or a bank.
  • International cash payment service. These types of money transfer companies have agents all throughout Mongolia. A cash payment can be sent to collect from a cash agent in minutes.
  • Travel insurance. Some travel insurance policies can offer an emergency cash payment for some cover events.
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Cash pickup locations in Mongolia / Western Union / MoneyGram branches in Mongolia

Both Western Union and MoneyGram have cash agents in Mongolian cities. Western Union has a larger number of non-bank collection agents, which can keep extended hours compared to banks.

Western Union


  • Branch 33
    Bayanzurh Duureg 03 Horoo 13 H,
    Enhtaivnii Urgun Chuluu Cfe Ll, Ulaanbaatar
    Open Monday to Friday 9.00AM to 8.00PM
    Open Saturday & Sunday 10.00AM to 6.00PM
  • Grand Plaza
    Bayangol District, Horoo 2,
    Peace Avenue, Ulaanbaatar
    Open Monday to Friday 9.30AM to 5.30PM


  • GB Orkhon Credit Center
    Orkhon Credit Center, Bayan-undur Soum Erdenet,
    Orkhon Province
    Open Monday to Friday 9.00AM to 6.00PM
  • Khan Bank
    6th Micro In The West Of Pyramid Center,
    Chandmani Service Center, Erdenet.
    Open Monday to Friday 9.00AM to 8.00PM
    Open Saturday 9.00AM to 3.00PM


Darhan Khentii

  • Capitron Bank
    Building 16 / Building of Darkhan Thermal Power Plant LLC/12th, Darkhan, 213800
    Open Monday to Friday 9.00AM to 8.00PM
  • National Investment Bank
    11 11 Darkhan, 45055
    Open Monday to Friday 9.00AM to 6.00PM

Choibalsan Dornod

  • TDBM - #801
    Dornod Aimag,
    Chiobalsan, 212614.
    Open Monday to Friday 9.00AM to 4.00PM
  • TDBM - Dornord Salbar
    Herlen Sum, Dornod, Aimag
    Open Monday to Friday 9.00AM to 4.00PM
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Tips for picking up cash in Mongolia

The Department of Foreign Affairs and Trade (DFAT) advises travellers to take normal safety precautions when visiting Mongolia and warns against unprovoked attacks against foreigners. A warning is also given against travelling in unlicenced taxis.

Take caution when you’re picking up cash in Mongolia. Ensure you’re not observed with large amounts of money and ensure the security of any valuables. It can be a good idea to travel in a group when you go to pick up cash and you may want to ask your hotel whether they can arrange for an escort.

What are the steps to send money to Mongolia?

To send money to a Mongolian bank account via your bank, logon to your online banking facility. If this is your first payment to a Mongolian bank account, you’ll need to add the payee as a beneficiary first.

  • Provide the payee’s name, account details, bank name, SWIFT code, BIC or IBAN.

International bank transfers can take up to 6 business days to clear.

If you plan on using any of the other services we’ve listed on this page, you’ll need to create an account first. It’s free to register an account with these money transfer providers, and registration can usually be completed in 10 minutes. You’ll need to give the following details:

  • Your name,
  • Your address
  • Your contact information
  • Your identification — you may be required to send a copy of an approved form of identification to the money transfer company to complete your registration.

Once you’ve paid for a transfer, you should be issued with a tracking number you can use to check on the status of your money transfer to Mongolia.

There are limited options to compare if you want to send money to Mongolia. It’s important to compare all your options so you get the best deal for you. We can assist you in answering any questions about the products and services listed on this page.

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