Iranian Banking System

As a tricky point about Iran, the currency and also the monetary systems can be highlighted. This is why “Omidan Travel” is going to clarify every single detail of this matter to you by the below parts:

Is it possible to use credit cards or debit cards In Iran?

Iran is not connected to any international banking systems yet, this is why there is no possibility to use any kind of foreign Credit cards or Debit cards in Iran so all transactions are being done by cash for foreigners.

How to exchange money in Iran?

Traveling to Iran will be much easier if you have enough information about Iranian currency. You can exchange your foreign currency of Dollar, Euro or Pound to Rial which is the official current in Iran, in banks but the best place to exchange the foreign currencies in Iran is exchange offices, called "Sarafi", which have trained employees with nice behavior who are ready to be at your service. They are experienced and pretty trustful, and the best thing about currency exchange shops in Iran is that they do fast exchanging.

Actually, you do not need to change your money before traveling to Iran, as almost all airports, hotels and official currency exchange shops will change your money quickly, especially if your money is commonly used in the world and in Iran tourism market like US Dollar or Euro.

Based on the fluctuation of Iranian exchange rate to dollar and euro, you may be shocked , but it’s something really ordinary here in Iran

What is the difference between Toman and Rials?

There are two kinds of currencies in Iran. Rial (IRR) is the official currency and Toman is the common currency among Iranian people. In fact, Rial has one more zero compare with Toman. For example, 100 Toman is equivalent with 1000 Rials.

What is the exchange rate of Rial?

The exchange rate of Rial is changing day to day and even hourly according to Iran economics’ system and political relations.

 

Is it possible to have a tourist credit card in Iran?

The good news is that there is a special service called Tourist Credit Cards. Today you as a tourist have the chance of opening your own account in person by presenting your documents to Banks' agents. The explanation about this issue is that you can have an account in Iran under Iranian banking system by providing your personal information which is especially designed for tourists to Iran. This credit card makes you able to deposit your money into it and use it during your travel in Iran for shopping everywhere. In case any money is left in it at the end of your trip, you can receive it in dollars or euros. This way you have no more concern about carrying too much money while traveling in Iran.

Imam Khomeini International Melli Bank is one of the easiest and safest banks you can ask to issue such credit cards right upon your arrival in Iran. The amount of money you would like to have in your account depends on what you require. The only required documents you will have to present are your valid visa and passport. You can deposit cash as Iranian Rial currency, Euros, Dollars, etc. In your account. You card’s expiry date depends on the expiry date of your visa. Overall there are more than 50’000 automatic telling machines from which you can get money to spend in Iran. Almost all stores and shops in Iran accept tourist cards.