Iranian banks reconnect to SWIFT

The Central Bank of Iran announced 21st January 2016 that two of the country's state-run banks and 10 private banks have reportedly been reconnected to the SWIFT money transfer system, which links about 9,700 banks.

Just to be entirely clear: does this mean that from now on it will be possible to withdraw money with western bank cards (debit or credit) at the mentioned banks in Iran?

The SWIFT system, or Society for the Worldwide Interbank Financial Telecommunications, is used to transmit letters of credit and payments.

HolyDrinker your western credit or debit cards (Visa MasterCard etc.) still won't work in the Islamic Republic, and its ATM machines still remain separated from the rest of the world. Do not hold your breath if and when that change will come, as many of the world's major financial services companies operate in the United States.

Bring 100 US$ bills or Euros to exchange, cash remains king in the Islamic Republic of Iran. Especially as U.S. politicians rightly threaten new sanctions against Iran, over the expansion of the country's precision-guided, long-range Emad surface-to-surface missile launched in October 2015.

For people who feel put off by carrying lots of cash you can get gift card credit cards in Iran. It's all psychological of course. Just be sure to use up all the money on the card, it comes with a pin number and you can use it everywhere.

For people who feel put off by carrying lots of cash you can get gift card credit cards in Iran. It's all psychological of course. Just be sure to use up all the money on the card, it comes with a pin number and you can use it everywhere.

The "only" problem with these cards is that you buy them at official banks using the official exchange rate. At nearly all street exchange offices (that´s legal in Iran) you will get a better rate, up to 25%!

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