.svg)
What Ways Can I Send and Receive Money in Iran?
You’ll be able to make a money transfer to or from Iran in the following ways.
Ways to Send Money to Iran
Money transfers to Iran are highly regulated, thanks to sanctions put in place by the United States Treasury.
Most American banks won’t conduct wire transfers to Iran. Furthermore, Iranian banks aren’t members of the SWIFT network ordinarily used to complete international wire transfers. As such, you may need to contact the Office of Foreign Assets Control to find a wire transfer option.
Money orders are also out for the same reason. Even if you could find a compatible provider, you would likely face high fees and the risk of scams.
In general, money transfer apps are the most effective way to transfer money abroad, though major providers don’t currently handle transfers to Iran.
Cryptocurrency isn’t regulated like other financial assets, so you can transfer money through a crypto exchange, depositing coins into the recipient’s digital wallet.
How can I pay for my money transfer to Iran?
Assuming you find a compatible money transfer provider, you can pay through the following methods:
Bank transfer: Simply transfer money straight from your bank account; this can take a bit longer but is the most reliable transfer method overall
Credit card: A credit card payment might be faster than a bank transfer — however, not every credit card provider will approve transfers to Iran, and those that may attach currency conversion fees or cash advance fees; like other credit card transactions, you may incur interest charges if you don’t pay the balance immediately
Debit card: Debit cards can also be used for fast payments, but you may face similar restrictions when transferring money to Iran; what’s more, debit cards may also be subject to currency conversion fees or cash advance fees
Digital wallet: Services like Google Pay and Apple Pay won’t send money to Iran directly, but you may be able to link them to a transfer app to pay for the transfer
What is the best way to send money to Iran?
Ordinarily, the best way to send money overseas is to use a money transfer provider and pay with a bank transfer. However, current sanctions present challenges in finding a participating provider. Moreover, senders must ensure that they avoid any legal challenges when sending money to Iran.
The Office of Foreign Assets Control may be able to help you locate a third-party banking institution that facilitates these transfers. Just be prepared to verify the reason for your transfer, and remember that you may face limits on the amount you send.
To compare money transfer apps for other countries, you can start using the search tool found on MoneyTransfer.com.
How long does it take to send money to Iran?
Due to security protocols, money transfer times can vary based on the amount you send. Iran is no exception, and your transfer will likely face additional scrutiny that can slow the process significantly.
That doesn’t even include the preparation time needed to select an authorized Iranian bank or pursue legal counsel before initiating the transfer.
If you’re unsure of the best way to transfer money to Iran, you should start by contacting the Office of Foreign Assets Control.
What is the fastest way to send money to Iran?
Ordinarily, the fastest way to send money to Iran would be with a money transfer provider. But once again, sanctions may require you to focus on the legal feasibility rather than the speed of the transfer.
When possible, cash pickups can be an option. You’ll still need to select a bank or agent with no links to terrorism or illegal activities.
If you use a money transfer app, you may be able to pay with a credit or debit card, though this assumes that your provider will permit transfers to Iran. Even then, you may face currency conversion fees or cash advance charges.
How much does it cost to send money to Iran?
Given your limited options, sending money to Iran will leave you at the mercy of a participating bank or money transfer provider.
You’ll have to pay for the transfer and any associated fees. While some providers charge a fixed rate, others charge a variable percentage fee based on the amount you’re transferring and your payment method.
You’ll also need to consider the exchange rate when converting between the American dollar and the Iranian Rial. Some money transfer providers compare their rates against the mid-market rate, which is the midpoint between the selling and buying price of foreign currencies.
If you send payment via cryptocurrency, your payment could also be subject to volatility in the crypto market, which makes it harder to predict the exact amount you transfer to Iran.
What is the cheapest way to send money to Iran?
When sending money overseas, your cheapest option is to use a money transfer provider and pay via bank transfer. Most providers also permit credit and debit card payments, which can add to your fees.
Bank transfers and wire transfers have become more complicated due to economic sanctions and the fact that Iran isn’t part of the SWIFT network. In fact, you may be limited to transfer options that are permissible rather than those that are preferable.
To compare fees and exchange rates for other countries, use the search tool found on MoneyTransfer.com.
What do I need to send money to Iran?
Before you send money to Iran, it’s a good idea to talk to someone from the Office of Foreign Assets Control. They may be able to provide more guidance on how to navigate the sanctions against the country.
If you manage to find a transfer provider, you’ll need to provide the following:
Your personal details: Sign up with a qualified provider by entering your name and contact information, then uploading a valid form of photo ID
Information about the recipient: Next, enter the recipient’s personal information and banking info; this is where it helps to contact the American government beforehand, as a representative can guide approved banks
Payment method: Finally, connect your payment method to the app to complete the transfer — common forms of payment include credit/debit cards, digital wallets, and bank transfers
What do I need to receive money in Iran?
Iranian recipients will need a valid bank, precisely one approved by American authorities, which screens banks for evidence of participation in criminal or terrorist activities.
You’ll also need to show a valid ID, such as:
An Iranian driver’s license
A passport
An Iranian national ID card
The recipient must also provide all the necessary banking details in advance, primarily if the sender pursues legal advice before the transfer.
Do I pay tax on money transfers to Iran?
Gifts sent from the United States aren't taxable unless they exceed the gift allowance of $17,000 (or $34,000 for married couples filing jointly).
Since commercial transfers are illegal due to sanctions, senders won’t have to worry about other situations that usually generate a tax liability. Furthermore, sanctions may prevent you from sending large amounts, which means you won’t easily exceed the gift allowance.
Iranian recipients won’t pay tax on gifts from the USA or other countries. And since the United States prohibits commercial transfers, transfers won’t generally incur a tax liability.
What reasons do people send money to Iran?
Given the sanctions against Iran, it’s understandable that Iranians living in the United States might want to send money back home to support friends and family. Common reasons include:
Travel expenses
Medical bills
Paying debts
Education and tuition
Again, the USA closely regulates the reasons for sending money to Iran. Travel expenses and certain other non-commercial transfers are permitted, but you may need to seek approval before making a transfer. Transfers for investments or businesses are strictly prohibited and aren’t subject to any exemptions to current sanctions.
Sending money to major banks in Iran
Due to concerns about terrorist or illegal activities, the American authorities regulate which banks you can legally send funds to. This list is subject to change due to the evolving nature of international relationships. Your best option is to check with the Office of Foreign Assets Control to find an approved bank.
What apps can I use to send money to Iran?
Government regulations prohibit using major apps or PayPal to send money to Iran. It may be possible to find a transfer provider, but you’ll need to screen each one to protect yourself from scams or avoid getting involved in illegal activity.
Check back with MoneyTransfers.com to learn more about money transfer providers that work with Iran.
Useful links for Iranians abroad
Iranian expats might find the following links useful:
MoneyTransfers.com can also provide additional information on money transfers around the world.
Sending different amounts of money to Iran
Remember, the USA sets limits on what you can transfer to Iran. You’ll also be restricted to money transfers made for non-commercial purposes. When in doubt, contact the Office of Foreign Assets Control.
Sending under $1,000 to Iran
Small non-commercial amounts may be exempt from current sanctions, though you may still need to find a participating bank or money transfer provider compatible with Iran.
Sending $1,000 or more to Iran
Once you cross the $1,000 threshold, your transfers may come under additional scrutiny.
If you find a money transfer provider, you may still find competitive rates and fees for amounts of $2,000 or less. The higher you go, however, the more speed bumps you may face, and the harder it will be to navigate current sanctions legally.
Sending $10,000 or more to Iran
Once you hit five digits, you’ll need to seek additional guidance from the government to ensure that your transfers are authorized and legally permitted. Even if you find an approved money transfer provider, you could face transfer limits that make sending large amounts of money overseas challenging.
Sending $100,000 or more to Iran
It’s unlikely that the United States government will permit transfers of this size under current sanctions. If you need to transfer $100,000 or more to Iran, contact the Office of Foreign Assets Control to pursue exemptions to the sanctions.
Want to Send Money Somewhere Else?
Get Started With Our Top Money Transfer Guides
Send Money to and From Iran With These Guides
Choose which corridor to send money through:
