Question 1

What information is required to send money to the United Kingdom?

Accepted Answer

You will usually need the account holder's name, sort code and bank account number. Persia Money may also request the reason for the transfer and the sender's relationship with the recipient.

Question 2

What information is required to send money to Europe?

Accepted Answer

You will usually need the account holder's name, IBAN, transfer amount and reason for payment. A BIC or additional information may be requested in some cases.

Question 3

Does the recipient need a Persia Money account?

Accepted Answer

No. The funds are paid directly into the recipient's bank account in the destination country.

Question 4

Do I need to complete identity verification?

Accepted Answer

Yes. Level 2 identity verification must be completed and approved before a transfer request can be submitted.

Question 5

Can I send money to family members?

Accepted Answer

Yes. Eligible users can send money to family members, friends and known individuals in the United Kingdom and supported European countries.

Question 6

Can I send money to someone I do not know?

Accepted Answer

The service is designed for transfers to family members, friends and known individuals. Transfers to unknown persons or accounts whose connection with the sender cannot be established may not be accepted.

Question 7

Can I use this service to pay a seller?

Accepted Answer

This service is intended for personal transfers. Payments for goods or services must use the appropriate Persia Money service and the seller must be identifiable and verifiable.

Question 8

What does IVTS mean?

Accepted Answer

IVTS is a value-transfer method under which payment is received in toman in Iran and the foreign-currency equivalent is paid using funds available within the destination country or region. The same amount is not transferred directly from Iran for each individual order.

Question 9

Is the foreign currency sent directly out of Iran?

Accepted Answer

Under this model, the recipient is paid using funds available in the destination country or region. The foreign currency for that individual transaction is not transferred directly from Iran to the recipient's foreign account.

Question 10

How much does the transfer cost?

Accepted Answer

The cost depends on the amount, currency and destination country. The exchange rate, service fee and final amount are displayed before the order is confirmed.

Question 11

How long does the transfer take?

Accepted Answer

Many transfers are completed within a short period, but the exact time depends on the bank, country, currency, working hours and required checks. Most transfers are completed within three working days or sooner.

Question 12

Can I track the transfer?

Accepted Answer

Yes. The order status and processing stages can be viewed through the Persia Money application.

Question 13

Can I change the bank details after submitting the order?

Accepted Answer

The order may be edited or cancelled before processing begins. Once the funds have been sent, the bank details usually cannot be changed.

Question 14

What happens if I enter the wrong IBAN or account number?

Accepted Answer

The transfer may be rejected or paid into the wrong account. The user is responsible for the accuracy of the information supplied. Persia Money may assist with recovery attempts where possible, but recovery cannot be guaranteed.

Question 15

Is the account holder's name checked?

Accepted Answer

Where this feature is supported by the relevant bank or country, the account holder's name may be checked. However, it is not available for every account.

Question 16

Does the recipient pay a fee?

Accepted Answer

For most domestic UK or SEPA transfers, the recipient will not normally pay a fee to Persia Money. In some circumstances, the recipient's bank may deduct its own charge.

Question 17

Are there transfer limits?

Accepted Answer

Minimum and maximum transfer amounts depend on the destination country, currency, account level and the outcome of security checks. The applicable limits are displayed in the application.

Question 18

Can I use another person's Persia Money account?

Accepted Answer

No. The order must be submitted through the sender's own verified account, and the information relating to the source of funds and recipient must be accurate.

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