The limit of in-person money transfer between the personal accounts of natural persons was removed.
Pursuant to the central bank’s circular dated 11th of Bahman 1400 on the issue of notification of the amendment to the instructions for clarifying the banking transactions of individuals approved on the meeting of December 21, 1400, the money and credit council at the meeting of March 27, 1401 with the proposal to add a note to Article 8 of the aforementioned instructions. Agreed.
According to this report, offline money transfer transactions whose origin and destination are the same and belong to an individual individual are exempted from observing the limits stipulated in this article.
The transfer of money from the deposit account of a natural person to other deposit accounts of that person in any amount, provided that both deposits are individual and not joint, will not be counted in the thresholds announced in Article 8 of this directive. According to paragraph 10 of the table contained in article 6 of the amendment to the instructions on how to obtain documents subject to note 2 of article 11 and note one of article 12 of the instructions for clarifying bank transactions of individuals notified in the circular of April 16, 1401, the transfer of money between the deposit accounts of individuals does not require obtaining documents. .
Article 8 of the instructions for clarifying banking transactions of individuals
Article 8- The credit institution is obliged to limit the total permitted threshold of withdrawals through offline payment portals from all deposit accounts belonging to real customers in that credit institution to 100 million Tomans per day.
Note 1- The permitted threshold of the total amount of withdrawals through non-present payment portals for a real customer without a commercial deposit is 500 million tomans per month.
Note 2- The permissible threshold of the total amount of withdrawals through offline payment portals in the case of legal entities is determined by the central bank’s executive board based on the level of money laundering risk.
Note 3- In-person money transfer transactions whose origin and destination are the same and belong to a single natural person are exempted from complying with the limits stipulated in this article.
Source: Bors Press