Foreign Currency Transfer on IB
How much does it cost to make a Foreign Currency Transfer on MCB Internet Banking?
Answer
a) For Local/International Corporates, please access the following link:
b) For Global Business customers, please access the following link:
Is there a minimum or maximum transfer amount?
What is an IBAN?
Answer
IBAN stands for International Bank Account number and is a standard international numbering system for individual bank accounts around the world.
Banks in Europe originally developed the system to simplify transactions involving bank accounts from other countries.
Banks in Europe originally developed the system to simplify transactions involving bank accounts from other countries.
When is an IBAN mandatory?
Answer
An IBAN is mandatory whenever transferring funds to the countries listed below:
Care: If the beneficiaries have provided the IBAN for countries not listed above, IBAN or account number in local format should be input in the ‘Account Number’ field (i.e. African countries included Mauritius, Seychelles, etc.).
Countries | ||
European Countries (UEE) | Gibraltar | Netherlands |
Albania | Greece | Norway |
Andorra | Greenland | Pakistan |
Austria | Hungary | Poland |
Bahrain | Iceland | Portugal |
Belgium | Ireland | Qatar |
Bulgaria | Israel | Romania |
Croatia | Italy | Saudi Arabia |
Cyprus | Jordan | Slovakia |
Czech Republic | Latvia | Slovenia |
Denmark | Lebanon | Spain |
Estonia | Liechtenstein | Sweden |
Faroe Island | Lithuania | Switzerland |
Finland | Luxembourg | United Arab Emirates |
France | Madagascar | United Kingdom |
Georgia | Malta | |
Germany | Netherlands |
Care: If the beneficiaries have provided the IBAN for countries not listed above, IBAN or account number in local format should be input in the ‘Account Number’ field (i.e. African countries included Mauritius, Seychelles, etc.).
What is a SWIFT code?
Answer
A SWIFT code — sometimes also called a SWIFT number — is a standard format for Business Identifier Codes (BIC). It is used to identify banks and financial institutions globally. These codes are used when transferring money between banks, in particular for international wire transfers.
How do I access my list of recipients?
When I am transferring foreign currencies to another local bank, which functionality should I use?
What is an “Intermediary Bank”? Is it mandatory?
Answer
An intermediary bank is a bank that acts on behalf of the sender bank (in our case the MCB Ltd).
It is in the Bank’s process to automatically identify the relevant intermediary Bank for the most efficient routing. However, should you wish to provide for a specific intermediary bank, please note that the transmission of the funds might be delayed.
Specifying an Intermediary Bank is not Mandatory.
It is in the Bank’s process to automatically identify the relevant intermediary Bank for the most efficient routing. However, should you wish to provide for a specific intermediary bank, please note that the transmission of the funds might be delayed.
Specifying an Intermediary Bank is not Mandatory.
What does “Public” and “Private” templates mean?
Answer
When a user saves a template as “Public”, then the payment instruction will be accessible to all users having access to the account of the company that is being debited.
When a user saves a template as “Private” , then the payment instruction will be accessible only to that particular user.
When a user saves a template as “Private” , then the payment instruction will be accessible only to that particular user.
How do I save a new beneficiary?
How do I pay a saved beneficiary?
How do I modify a saved beneficiary?
What does the controlling of imported goods mean?
Answer
Restricted/controlled goods subject to an import permit include petroleum oils, rice, flour, syringes, drugs and psychotropic substances, firecrackers, arms and ammunition, among others. A detailed list of restricted imports is available on the website of the Bank of Mauritius.