faq

FAQ

Foreigner personal Account Requirement as follows;

Application Letter From Embassy

  • Recommentation letter
  • Initial Deposit (Minimum 100 Units of Currency)
  • Passport Copy and Visa Copy
  • (2) Photos for each authorized persons
  • (2) Introducers

 

Government, INGO, NGO Account’s Requirement as follows;

Application Letter

  • Board of Director Resolution (Meeting Minutes)
  • Letter from Ministry of Planning and Finance
  • Initial Deposit (Minimum 100 Units of Currency)
  • Passport Copy and Visa Copy /National Registration Card Copy /Original
  • (2) Photos for each authorized persons

MPU Card Account Requirement as Followas;

Application Letter

  • National Registration Card Copy /Original
  • Initial Deposit (minimum kyats 10000/-)
  • USD Bank Book Copy
  • 1 Photo

Saving Kyat Account (Personal) Requirement as Followas;

Application Letter

  • National Registration Card Copy / Original
  • Initial Deposit (minimum kyats 1000/-)
  • Interest Rate ( 1 Year ) 8%
  • Over Kyat 10,000,000/- For Earing (eg; Appointment Letter, Rental Contract) Internal Revenue Department’s Authorization Letter.

Fixed Deposit Kyat Account Company (Myanmar/Foreign) Co-Operative society, Partnership Requirement as follows;

 Application Letter

  • Board of Director Resolution (Meeting Minutes)
  • Myanmar Companies Online (MYCO) Company Profile
  • Company Registration card
  • Certificate of Export/Import Registeration
  • Passport Copy and Visa Copy
  • Initial Deposit (Minimum Kyats1,000,000/ )
  • (2) Photos for each authorized persons
  • National Registration Card Original / Copy

 Fixed Deposit Kyat Accout (personal) - Requirement as Follows;

Application Letter

  • Board of Director Resolution (Meeting Minutes)
  • National Registraction Card  Copy /Orginal
  • Initial Deposit(minimum ks100,000/-)

Company Limited (Myanmar/Foreign) Co-Operative society, Partnership Account’s Requirement as follows;

 Application Letter

  • Board of Director Resolution (Meeting Minutes)
  • Myanmar Companies Online (MYCO) Company Profile
  • Company Registration card Copy
  • Certificate of Export/Import Registeration
  • Passport Copy and Visa Copy
  • Initial Deposit (Minimum 100 Units of Currency)
  • (2) Photos for each authorized persons

Embassy Account’s Requirement as follows;

 

Application LetterFrom Embassy

  • Letter From Ministry of foreign Affairs
  • Letter from Ministry of Planning and Finance
  • Initial Deposit (Minimum 100 Units of Currency)
  • Passport Copy and Visa Copy
  • (2) Photos for each authorized persons
  • (2) Introducers

Nationl Account /Personal Account’s Requirementas follows;

Application Letter

  • National Registration Card Copy
  • Evidence of Foreign Exchange Earning(eg; appointment letter,rental contract)
  • (2) Introducers
  • Initial Deposit (minimum 100 Units of Currency)
  • (2) Photos

Bank Charges

  • Cash Deposit    - No charges
  • Cash withdraw -  USD 1/-
  • CBM Net system  - USD 3/-
  • A/C transfer - USD 2/-
  • Transfer to ATM - USD 2/-
  • SWIFT (outward) - 0.125% of transfer amount (or) Minimum USD 50/
  • SWIFT (inward) - USD 15/-
  • For bank statement - No charges for current month and MMK 1,000 for each previous month
  • A/C close - USD 5/-

Which documents are required for withdraw?

  • Cheque
  • Current account passbook
  • Withdraw can be made by account holder as well as GP/authorized person with authorization letter.
  •  No withdraw of the account will be allowed unless the passbook and NRC card.
  • Withdraw will be allowed two time per week and once time withdraw amount is limited by USD 5000.

Which services are providing by Current Account (National) Department?

The following types of foreign currency can be opened:

  • USD
  • Euro
  • Singapore Dollar

Deposit and Withdraw can be made by the following methods:

  • By cash
  • Transfer to customer 's ATM account ( with equivalent kyat)
  • Transfer to MMK A/C at MFTB
  • Transfer to customer A/C at private banks by CBM Net system ( with equivalent kyat)
  • Transfer to/from foreign currency A/C at abroad by using SWIFT
  • issue bank statement
  • A/C close

What are the methods of Deposit and Withdraw?

  • Deposit / Withdraw by cash
  • Deposit / Withdraw by transfer
  • Deposit / Withdraw by CBM Net system
  • Deposit / Withdraw by cheque

Remark

 (1) Up to MMK (10) Million, Deposit/Withdraw can be made by cash. If deposit amount is above (10) Million, Deposit/Withdraw can be made by cheque or transfer within bank accounts or CBM –Net System.

(2) Charges for withdraw by using CBM- Net system is 3,000 MMK. There is no charges for other transactions.

Which documents are required for withdraw transaction?

For MMK Saving account and MMK Fixed Deposit account

  • Withdraw can be made by Account holder as well as GP/authorized person with authorization letter. No withdraw of the account will be allowed unless the passbook and NRC card. Withdraw will be allowed once in a week for MMK saving account.

For MMK Current account

  • Withdraw can be made by Account holder as well as GP/authorized person with authorization letter
  • Withdraw can be made by cheque and NRC card.

Which documents are required for deposit transaction?

For MMK Saving account and MMK Fixed Deposit account

  • Deposit can be made by Account holder as well as GP/authorized person with Passbook.

For MMK Current account

Deposit can be made by Account holder as well as GP/authorized person

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