Parsian Bank: A Comprehensive Guide

Parsian Bank is a prominent Iranian bank that has been in operation since 2007. It was established through the merger of Parsian Bank and Sarmayeh Bank.

Parsian Bank has a strong presence in Iran, with a network of over 1,000 branches across the country.

The bank offers a wide range of financial services, including personal and corporate banking, credit cards, and online banking.

Parsian Bank is committed to providing its customers with innovative and convenient banking solutions, leveraging technology to enhance their experience.

Parsian Bank was founded in July 2001 and opened for business in 2002.

The bank entered the Tehran Stock Exchange in 2004 and was described by Reuters as "Iran's largest non-state bank" in 2006.

Reuters noted that Parsian Bank offered slightly higher interest rates on accounts than state-run banks, and its liberal dress code was a notable aspect of the bank.

In 2005, Parsian's managing director, Abdollah Talebi, refused to give an unsecured $44 million loan to Mohammad Shariatmadari, the head of the powerful Setade Ejraiye Farmane Emam foundation at the time.

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This decision likely contributed to the antagonism of Parsian Bank by Iranian President Mahmoud Ahmadinejad, who thought the bank was owned by the family of Ayatollah Hashemi Rafsanjani, his main rival in the presidential elections.

As a result of the forced interest rate change imposed by Ahmadinejad, Parsian Bank faced severe financial difficulties in early 2006.

The bank's strategy of providing long-term fixed high-interest accounts was no longer viable, and the income from loans was lower than the rates paid out in long-term savings accounts, creating a cash flow problem.

Tadbir Investment Co, a subsidiary of Setad, acquired a small stake in Parsian Bank and transformed the bank, bringing in new managers and eliminating the liberal dress code.

In 2010, a 10% stake in Parsian E-Commerce, the online banking subsidiary of Parsian Bank, was sold on the Iranian Over-The-Counter market for $116 million.

Parsian Bank offers a range of convenient banking services. You can access over 70 user-friendly services from a single app, making it easy to manage your finances on the go.

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To open an account, you'll need to verify your identity by matching your Iranian mobile phone number through a one-time password using your national ID number. If you're outside Iran, you'll need to have access to your Iranian SIM card's text messages or activate Iran's roaming service in your current location.

The bank provides free and fee-free services for account activation, including sending your card details via SMS. This includes your card number, account number, main password, and customer number for your mobile phone.

Opening a Non-Physical Account is a straightforward process that can be completed online or through the bank's mobile app.

You'll need to provide personal and financial information, including your name, address, and Social Security number, which can be found in the "Account Requirements" section.

The bank will also use this information to verify your identity and check for any outstanding debts or credit issues, as mentioned in the "Account Requirements" section.

Once your application is approved, you'll receive a welcome package with account details and a unique account number, which is explained in the "Account Types" section.

This account number can be used for online banking, mobile banking, and to set up automatic payments, as discussed in the "Banking Options" section.

The bank offers over 70 user services in one app. This convenience is a game-changer for anyone who wants to manage their finances on the go.

You can access all these services from the comfort of your own home, or even while traveling abroad. However, keep in mind that some services may require you to have access to your Iranian SIM card or activate the roaming service in your current location.

One of the services you can access is the ability to activate your bank card, which is done through a simple process that sends you a message with your card details. This includes your card number, account number, and PIN.

All the steps involved in activating and sending your bank card are free of charge, with no additional fees.

To open a non-physical bank account, you'll need to provide personal and financial information, such as your name, address, and social security number.

This information will be used to verify your identity and ensure you're eligible for a non-physical account.

You can apply online, by phone, or through a mobile app, and the process typically takes a few minutes.

Some banks may require a minimum deposit to open the account, which can vary depending on the institution.

You can choose from a variety of account types, including checking, savings, and money market accounts, each with its own set of features and benefits.

Online applications often require you to upload identification documents, such as a driver's license or passport, and proof of address, like a utility bill.

Once your application is approved, you'll receive a welcome package with account details and instructions on how to access your account online or through a mobile app.

The account will be activated, and you can start using it to manage your finances, transfer funds, and pay bills.

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Parsian Bank Papers are a crucial part of the bank's operations. They are used to manage and record transactions, financial data, and other important information.

These papers are carefully maintained and updated by the bank's staff to ensure accuracy and compliance with regulations. They are also used to track account balances, loans, and other financial activities.

Parsian Bank Papers are a vital tool for the bank's financial planning and decision-making processes. They provide valuable insights into the bank's financial performance and help identify areas for improvement.

The bank's staff uses these papers to analyze financial data, identify trends, and make informed decisions about investments, loans, and other financial activities. This helps the bank to stay competitive and meet the needs of its customers.