Mongolia · Banking & Payments

Khan Bank

Khan Bank is Mongolia's largest bank by number of customers, with branches in every aimag and a mobile app for transfers, QR payments and bills.

What it helps with

A bank account in MongoliaBranches in every aimag.
Paying by QRShops, cafés, taxis.
Receiving money from abroadRemitly and other services.

About Khan Bank:

The bank has the widest branch network in the country, including small soum centres, which makes it the usual choice for salaries and for people who travel outside Ulaanbaatar. Its app handles transfers by account or phone number, QR payments, bills and cards. Khan Bank is also a payout partner for international transfers such as Remitly.

Key Features:

Branches everywhere: In every aimag.
Mobile app: Transfers, QR, bills.
Cards: Debit and credit cards.
Remittances: Receives international transfers.

How to Get Started:

Open an account at a branch with your passport, or install the app if you already have one.
Activate mobile banking and set a PIN.
Link your card or account in the app.
Pay by QR in shops or transfer by phone number.

Before you use it

Sign-up: Foreigners usually need a passport and a residence permit or Immigration Agency registration to open an account.
Payment: QR codes from Mongolian banks are accepted in most shops, cafés and taxis in Ulaanbaatar.

English available Local number needed Local ID needed

Frequently Asked Questions

Does Khan Bank work with a foreign bank card in Mongolia?: Not reliably - a foreign card may be declined. Check the notice above, or plan to use a local payment method.
Is Khan Bank available in English?: Yes, Khan Bank has an English-language interface.
Do I need a local phone number to use Khan Bank?: Yes, Khan Bank requires a local phone number to register.
Do I need local ID or residency for Khan Bank?: Yes, Khan Bank requires local ID or residency status.
Where can I use Khan Bank?: iOS · Android · Web
How much does Khan Bank cost?: Free app; fees per the bank tariff