When In Iran

When someone arrives in Iran, and discovers funds are insufficient to stay, it smells trouble. I do have a visa card but due to the sanctions against Iran, I am sure the card will be useless to have when in Iran.

Panicked, I've ask around and been told that there may be cash machines in Tehran that will accept my Visa card or else I am doomed! I keep hopeful, thinking there has to be a way around it by doing bank transfers or maybe some place I could at least use it.

But where can I ask for any advice, especially being in a foreign land and I don't speak the language. My sweat thickened just thinking about my survival in Iran, a country foreign to me and worst of all - US sanction against Iran. The visa logo on my card is powerless.

I know that since 2001 the Iranian Government has moved toward liberalizing the banking sector, creating private credit institutions and authorized foreign banks, although progress has been slow. Foreign banks, many of whom had already established representative offices in Tehran, to offer full banking services in Iran's free-trade zones.

I did not see it coming, being in this situation but has to find a way to survive. What to do now?

I ask around for more information. I cannot use my Visa card, cannot withdraw cash with in Iran, but found out that some biggest carpet dealers and 5-star hotels might take visa card. That was something good to know. However, it is only for purchases! Oh no!

One guy I talk to suggested the following:

1. Contact your embassy for help

2. Contact a major 'sarrafi' (foreign exchange shops)

3. Contact and ask a tourist like me for assistance

4. Leave Iran and get cash in Pakistan, or another country.

What is Sarrafi? This is something new but it is seems like sarrafi or foreign exchange is the way as there is not much 'bank transfers' to Iran at this time at all. Maybe, ask someone from UK to transfer funds through an Iranian Sarrafi and perhaps, claim it over there. Each sarrafi has its own 'business partner' in Iran from which equivalent local currency (Rial)  can be pick up the same day or the day after, when transaction goes through.

So, roaming around, it's sure true that some expensive hotels and carpet stores accept Visa/MC with extra charge for payments. It is usually 8%. It works via banks from Dubai or London. The problem, the visa card can be use for purchases only. No plan to buy carpets at this time, so this is not the way to go. :(

Another suggestion is sending money to a travel agency (make sure the agency is reputable) who can assist by transferring money to the travel agency and pick it up from there. This is just a suggestion, and need more investigation.

Not sure if this would work, but going through a bank like the Bank Melli in Tehran or the central Bank Melli in another big city such as Esfahan. Good luck on this!

The money exchange at IKA airport (the International airport), accepts International credit cards. Get cash using your credit card and they are usually open 24 hours.

Be careful carrying a lot of money is not safe at all. Iranians are not in the habit of carrying large amounts of money! FYI, Iranians use credit cards! However, Iranian credit cards will not work outside Iran (maybe in Syria), and international cards will not work in Iran.

One option would be to bring cash with you, convert it to Iranian currency and then buy something called "Gift Card" from a bank. You can easily obtain them from most of the well-known banks without having an account. You can use these cards to buy stuff almost anywhere within the country. They are also password protected and only the owner can use them. In case you lose them or get them stolen, you can contact the issuing bank to block the missing card and get another one.

This is just one of the ways that can help you avoid carrying money. There might be other ways too :)

           

Is it possible to get the balance back from those? I know in the US these cards are not refundable and come with hefty fees, so if the OP has 200 EUR on a card, but only use 100 EUR - the rest is gone forever. As this is an Iranian card - it's unusable anywhere else. What are the rules in Iran in such case?

 It's always possible to get money from ATM with these cards. So the rest of money can be considered refundable. However, do take the fees and the conversion rates into account.

Any card with Visa and MasterCard logo does not work in Iran. There is a national debit card system called Shetab. And all the Iranian banks and many credit unions are members of Shetab. So basically if you buy a Shetab card from any bank, you will be good. Bank Pasargad is one of them.

However, you cannot buy it online. Once you land in Iran, you may exchange your foreign currency to IRR (Iranian Rial) and buy a gift card either at the airport or ask your hotel reception to help you get one.

Planning a trip to Iran? Hope this helps!

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