International Transfers

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tangmo14 New member

Member since 30 June 2014

tangmo14New member30 June 2014 18:44:15

Hello everyone,

Things seem to change quickly in Myanmar, I would be grateful if someone could tell me how easy it is to send money overseas, I am dithering whether my salary should be paid into a Myanmar, Thai or UK bank account.

ATMs, and foreign cards? IS that possible yet?

Thanks for any help.

Archie Pelago Member

Member since 07 January 2014

Archie PelagoMember01 July 2014 04:26:44

ATM's are growing in number in Myanmar and can handle foreign cards as of a year and a half ago (visa, mastercard).
Still going to be a while before the local banks come online with their international counterparts in terms of ease of transfers overseas etc.
I'd suggest you ask your employer if it is possible to split your salary - have a portion available to draw as local funds in Myanmar, and have the rest banked in the UK or Thailand.聽 For the local funds, open a local account with a local debit card so you can pay for shopping and draw cash in kyats from ATM's as required.

I find the banking system in Thailand very good, and it is the usual port of call when leaving Myanmar so having funds there for shopping/travel/hotels etc makes sense.聽 Depends on your own needs of course

tangmo14 New member

Member since 30 June 2014

tangmo14New member01 July 2014 05:42:40

Thanks a lot Archie I appreciate that, Thai banks are ok, but if you move house you can't change address you need to make a new account!!
Seems things are slowly catching on there in Myanmar, I hope this job comes off.