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International Banking

International Banking

For international banking, we provide trade finance as well as worldwide payment services including Western Union and telegraphic transfer service, foreign currency account, foreign exchange services, etc.

Foreign Exchange Service

MAB offers foreign exchange service in accordance with the rules and regulations of the Central Bank Myanmar. Customers can exchange the designated foreign currencies against the Myanmar kyat and or against each other at our exchange counter in our following branches during the banking hours (9:30 am – 3:00 pm). Tourists, study abroad students, importers and exporters, foreigners can use our foreign exchange service widely.

  • US DOLLAR
  • EURO
  • SINGAPORE DOLLAR
  • THAI BAHT
  • MALAYSIA RINGGIT

Money Changer Counter Lists

  1. Union Financial Center (UFC)
  2. TheinPhyu
  3. NyaungShwe
  4. Nyaung U
  5. Shwedagon Pagoda Street
  6. Mandalay -1
  7. Mandalay -2
  8. Mandalay -3
  9. Hsipaw
  10. Naypyitaw
  11. KyoukPhyu
  12. Thandwe
  13. Kawthaung
  14. Bayintnaung
  15. Tatkon
  16. Kyaukse
  17. Meiktila
  18. Bokalay
  19. Mawlamyine
  20. Myaungmya
  21. Kyoukpadaung
  22. Kalay
  23. AungBan
  24. MingalarZay
  25. Loikaw
  26. Muse
  27. Sittwe
  28. Innya Road
  29. Magway
  30. Pyay
  31. Mayangone
  32. Airport
  33. Myanmar Plazza
  34. BoGyokeZay
  35. Keng Tung
  36. Wartan
  37. Ahlon
  38. ShweBonThar
  39. Lashio
  40. Insein
  41. Dawei
  42. Thanlwinn
  43. Tarmwe
  44. Taungoo
  45. South Okkala
  46. Nyaunglebin
  47. Hpa-An

Foreign Currency Account

Foreign Currency Accounts can be used to transfer funds and facilitate domestic and international payments such as

  • Trade and services
  • Import letter of credit
  • Internal and external remittances with license or permit with supporting documents
  • Other legitimate purposes

Fees and Charges

Initial Deposit USD – 100 ( For seaman $-10 )
Deposit Commission Commission fees variable
Withdrawal Transaction Commission fees MMK 1,000 per transaction
twice a week
Maximum withdrawal of USD 5,000 per transaction
Minimum Balance USD 10
Transfer within accounts in the bank USD 2
Transfer to other bank 0.125% + swift charges 5$
Closing Account USD 5 (individual and joint)/ USD 10 (company)

Trade Finance Services

Whether it is trade with Singapore, Indonesia, Malaysia, Thailand, China or any other country, our team of trade specialists with a complete suite of products covering Imports, Exports, L/Cs, Guarantees and Collection services as well as payment products, provide our clients with the tools to optimize the opportunities and stay ahead of the competition.

Available Services

  • LC Advising
  • LC Confirmation
  • LC Negotiation
  • LC Discounting
  • Export Collection
  • Import LC
  • Transferable LC
  • Banker’s Guarantee

Our trade finance services comprise of

  • Trade Finance

1. Export

Advise Letter of Credit

  • We can receive L/C from our correspondent banks and advise it to exporters in Myanmar.
  • Without any confirmation, we will collect advising commission of USD 30 only.
  • Exporters need to open an account at MAB.

Advice and Negotiation

  • If the L/C we receive is restricted to MAB, we will advise L/C to exporters who will prepare and forward the related shipping documents to MAB for negotiation and checking of documents and subsequent payment.
  • We will collect 0.25% of Bill amount (Min: USD 50, Max: USD 1,000) plus DHL and USD 5 SWIFT charges.

Fees and Charges

LC Advising Commission USD 30 (or) equivalent of Myanmar Currency
Amendment Advising Commission USD 25 (or) equivalent of Myanmar Currency
LC Cancellation Charges USD 25 (or) equivalent of Myanmar Currency
Bill Handling Commission 0.25% of bill (or) equivalent of Myanmar Currency
Min: USD 50/ + USD 5 swift charges
Max: USD 1,000/ + USD 5 swift charges

2. Import

To assist our customers to import goods from overseas, we are able either on our own or through our well connected oversea correspondents to issue Letter of Credit on behalf of our customers worldwide.

  • Customers need to open an account at MAB
  • Margin deposit is normally required

Fees and Charges

LC Opening Commission 0.25% of LC Amount (or) equivalent of Myanmar Currency
Min: USD 50/ + USD 5 swift charges
Max: USD 1500/ + USD 5 swift charges
Amendment Commission 0.25% of LC Amount (or) equivalent of Myanmar Currency
Min: USD 40/ + USD 5 swift charges
Other Amendment USD 40 (or) equivalent of Myanmar Currency + USD 5 swift charges
LC Cancellation Charges USD 30 (or) equivalent of Myanmar Currency + USD 5 swift charges
Discrepancies USD 60/-
Bill Handling Commission (bill under LC) USD 50 (or) equivalent of Myanmar Currency + USD 5 swift charges
Bill Under Collection 0.5% of bill (or) equivalent of Myanmar Currency
Min: USD 50/ + USD 5 swift charges
Shipping Guarantee Issuing Commission 0.25% of bill (or) equivalent of Myanmar Currency
Min: USD 50/ + USD 5 swift charges

Funds Transfers and Payments (Telegraphic Transfers)

A very fast, safe and reliable way of transferring money between two persons or entities anywhere in the world through use of MAB’s wide correspondent relationship and the SWIFT network. This service make you a lot easier to pay your annual school fees and others expenses for your study life in very short time.

Outward SWIFT Telegraphic Transfer :

Sending money to beneficiaries outside Myanmar from your MAB account.

Inward SWIFT Telegraphic Transfer : 

To receive money worldwide through our well connected oversea correspondents to your MAB Account.

Fees and Charges

Outward Remittance Commission 0.125 % of remittance amount
Minimum: USD 25 + USD 5 swift charges
Inward Remittance Commission MMK 10,000 (or)
equivalent of foreign currency (fixed rate)
Stop Payment, Amendment/Return Payment/Query etc. USD – 15 +Swift Charges $5

Western Union

In collaboration with Western Union, MAB is servicing incoming and outgoing international remittances. Now, you can receive and send Money around the world in minutes at MAB branches throughout Myanmar.

Who use our service?

  • Immigrants and migrant workers to transfer money for family-support
  • Overseas students and travelers for emergency cases
  • Medical fees payments
  • Charities sending funds

Why send money to Myanmar with Western Union?

Fast Money is available to receive within minutes after being sent.
Reliable Over 140 years of providing money transfer experience.
Each transaction has a 10-digit Money Transfer experience.
Convenient Over 500,000 agent locations in more than 200 countries and territories around the world.
Pick up locations across the Myanmar.
No bank account is needed.

Bank Guarantee

In doing business, organization or business unit at times requires bank guarantee to fulfill a contract.  MAB is ready to provide this service. To comply with rules and regulations of the Central Bank of Myanmar, normally 100% deposit is required.

 Available Guarantee

  • Performance Guarantee
  • Tender Guarantee or Bid Bond Guarantee
  • Trade Guarantee

Fees and Charges

0.25% per 3-month

Guarantee Issuing Commission 0.25% of guarantee amount or equivalent of Myanmar Currency
Min: USD 50/ + USD 5 swift charges
Guarantee Advising Commission USD 20 or equivalent of Myanmar Currency + USD 5 swift charges
Amendment Advising Commission USD 15 or equivalent of Myanmar Currency + USD 5 swift charges
Amendment of amount Commission 0.25 per 3months or equivalent of Myanmar Currency
Min: USD 50 + USD 5 swift charges
Other Amendment USD 50 or equivalent of Myanmar Currency (fixed rate) + USD 5 swift charges