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.
