Find the best exchange rate and low fees when you send money to Myanmar from Australia.
Unlike American dollars or British pounds, the Burmese Kyat is not a major international currency. The choice of companies that will let you send money to Myanmar (also known as Burma) is limited. Currently, if you want to send money to Myanmar, you have to look at the services of a select number of specialty international money transfer companies, like Western Union. It will generally have to be a cash transfer directly into a Burmese bank account which is inaccessible from Australia.
Read on for information about how to send money to Myanmar, and tips of how to compare money to transfer companies so you can find the best deal on your international money transfer to Myanmar.
Send money to Myanmar
At the time of writing, Burma is currently sanctioned by the US government, meaning that many banks will not allow you to send funds to Burma. You need to visit a Western Union or MoneyGram outlet and perform a cash transfer if you want to send money to Myanmar. The exchange rate and fees for the transfer will be advised at the time of the transaction.
How do I send money to Myanmar from Australia?
Compared to a currency like US Dollars, Burmese Kyat is not a commonly traded currency. There are only a handful of money transfer companies and financial institutions that let you send money to Myanmar. Some of the providers that let you send money to Myanmar include:
- Western Union. Western Union have a number of cash collection points in Burma. You can send money to Myanmar and the recipient can collect the funds from a local merchant. You can send money to Myanmar by visiting a Western Union outlet.
- MoneyGram. MoneyGram offer a similar service to Western Union. Send money to Myanmar by sending cash from a MoneyGram outlet.
How do I compare transfer companies when transferring money to Myanmar?
If you want to send money to Myanmar, but don’t know where to start, or how to tell a good deal from bad one, have a look at the following to find out how to compare quotes on an international money transfer to Burma.
- Exchange rates. The exchange rate is describes the conversion between Australian dollars and Burmese Kyat. For instance an exchange rate of 1:2 means for every Australian dollar you exchange, you will get two Burmese Kyat.
- Transfer fees. Companies will more than likely charge you a fee when you want to send money to Myanmar. Some companies don’t charge a fee if you’re sending over a certain amount, while other companies charge a flat fee. The fee for transferring money will be advised when you get a quote to send money to Myanmar.
- What pick-up methods are available? When you send money to Myanmar, how can the person you’re sending the money to collect the funds? Some companies let you send money to a local business for the recipient to collect, while other companies will let you send it straight to their bank account. You can find out about the pickup methods by reading our international money transfer review pages.
- Turnaround time. How long will it take before the person in Myanmar can access the funds you’ve sent? The way you choose to send the money affects the turnaround time. Bank transfers take longer than cash pickups.
- Minimum transfer amounts. What’s the smallest amount of money you can send to Myanmar? Some companies have no lower limit, but charge fees if the transaction is under a certain amount.
- Transfer options. Does the company let you set up regular payments to Myanmar, or is the service for a one-off transfer only?
- Customer service. Can you get in touch with the international payment provider if something goes wrong? Check to see whether the provider has a 24 hour customer service team and whether you can contact them on weekends.
Send money to Myanmar in an emergency
There may be times when you need emergency access to money in Myanmar. Whether you’ve lost your wallet, or you have a friend or relative in Myanmar who needs money, there are a couple of options for accessing emergency cash.
- Travel insurance If you’re travelling in Myanmar and you’re stuck in a tight situation without money, like if your bags are stolen, you may be able to arrange for an emergency cash transfer through your international travel insurance provider. Most policies have a benefit for an emergency cash provision.
- International transfers with cash pickup. If you need to get money to Myanmar fast, you can send the money using an international transfer service with an option for cash pickup. Western Union and MoneyGram are two such companies. The money is usually available within minutes of sending it from Australia.
Cash pickup locations in Myanmar
If you’re sending the money to Myanmar and you want the person receiving the money to be able to pick the funds up from a local business, you will need to send the money using a service like Western Union or MoneyGram.
Send money to Burma using Western Union and the recipient can collect the funds from a network of 250 branches stretching over six states and seven divisions in Myanmar.
- CB Aung Mingalar Mini Branch789 Aung Mingalar Highway Complex, Thudamar St Mingalardon Tsp, Yangon.11142+095-1-251100Open 9.30am to 3pm Monday to Friday.
- United Amara Bank Tarmwe Branch169 Quarter 4d Banyar Dala St, Tarmwe Tsp, Yangon.Open 8am to 4pm, Monday to Friday.
MoneyGram have expanded the services they offer in Myanmar. MoneyGram services are provided through three banks in Burma. Cash can be collected from the following financial institution in Burma.
- Asia Green Development (AGD) Bank
- Myanmar Citizens Bank (MCB)
- Tun Foundation Bank (TFB)
Tips for picking up cash in Myanmar
The government recommends that Australians visiting Burma should exercise a high degree of caution. The government also advises that Australians should reconsider their travel plans if they’re visiting certain areas within the country – this information is available on the Department of Foreign Affairs Website.
If you’re concerned about your safety carrying a large amount of money on your person, be discreet once you collect your cash. Keep the money in a money belt strapped to your body, travel in a group and do not flash large wads of cash around on the street.Back to top
How to send money to Myanmar
If you want to transfer funds to Myanmar, you need to send cash. You’ll need to provide some basic information before the transaction is processed, like:
- Your name
- Your email address
- How much you want to transfer
- How often you want to send money (for periodical payments)
Once you complete the funds transfer, you will be given documentation to show that the transfer has been confirmed.
If you want more information on how to send money to Myanmar, ask us a question using the form at the bottom of this page. A member of our team will be in touch.