BAKU, Azerbaijan, July
27. Kyrgyz MBANK has launched international money
transfers via bank account number using the Visa Direct Account
service, expanding cross-border payment options for both
individuals and businesses.
According to the bank, the new service enables customers to send
funds to bank accounts in the US, the UK, South Korea, and
countries within the Single Euro Payments Area (SEPA).
Transfers to the United States, the United Kingdom, and South
Korea are processed in U.S. dollars, while transfers to SEPA
countries are made in euros. Recipients receive the funds in their
local currency.
Funds can be debited from any MBANK account held in Kyrgyz soms,
U.S. dollars, euros, or Russian rubles. Conversion into the
transfer currency is carried out automatically at the bank's
exchange rate.
The bank noted that, before confirming a transaction, customers
are shown the amount to be debited, the exchange rate, the transfer
fee, and the amount the recipient will receive.
