EXCHANGE RATES 08/18/2017
USD BUY 1350 SELL 1354
SGD BUY 988 SELL 994
THB BUY 39 SELL 40.5
EUR BUY 1582 SELL 1590
EXCHANGE RATES     08/18/2017
USD BUY 1350 SELL 1354
SGD BUY 988 SELL 994
EUR BUY 1582 SELL 1590
THB BUY 39 SELL 40.5

FAQ

What happens when I lose my savings passbook?

If and when you lose your saving passbook, please contact and inform your nearest branch as soon as possible. You can apply for a replacement passbook at the account holding branch. You will need to bring a statement from the police station.

Does my individual account become a joint account if I add another member?

You cannot add anyone to your individual account. You will have to open a separate joint account.

Can i make a withdrawal from Children's Savings Account (Minor Account) at any KBZ branch?

Parents or legal guardian can withdraw on behalf of the child at the account holding branch.

What are the requirements for remittance?

The bank requires full information of the beneficiary, such as, name, NRC and contact details.

Are there bill payment services at KBZ Bank?

Internet bill payment service for Myanmar Teleport is available but the bank currently does not offer other payment services.

Can I cash KBZ gift cheque at any KBZ branch?

Yes. Charges apply if the cheque is used in another city.

Can I use ATM/Debit card for other banking services including transferring money here?

Except for withdrawal and payment at POS terminals, other services are not yet available.

Can we open a foreign currency account at every KBZ branch?

Foreign currency account can be opened at Kyun Taw Lan Branch and Kyauktada Branch.

KBZ Union Pay Credit Card FAQS

What is Credit Card?

Credit Card is a kind of unsecured personal loan provided through a “plastic card”, which can be used for payment of goods & services or cash withdrawal.

What is UnionPay International or UPI Credit Card?

UnionPay International (UPI) previously known as China UnionPay [CUP] is a payment card brand, similar to other International brands like Visa, MasterCard, Amex, JCB etc.

How many types of KBZ UPI Credit Card are issued by KBZ Bank?

There will be two (2)  types of UPI credit card will be issued by KBZ Bank i.e Platinum & Classic Card. Customer can apply for any of the card depending on their income eligibility.

What is the key difference between KBZ UPI Platinum and Classic Credit Card?

The key difference between KBZ UPI Platinum & Classic Credit Card are the added value proposition and the premium fees charged for Platinum cards.  KBZ UPI Platinum Credit Card has additional value proposition such as :

  • Asia Prestige Program benefits where customer can access to :
  • Global Airport VIP Lounge 6 times in a year at over 400 airports & 900 Lounges
  • Global Emergency Medical & Travel Assistance
  • Concierge Services
  • 20% discount in any F & B outlets in Sule Shangri-La, Yangon for a maximum of 30 person per visit except banquet and in room dining.
  • Overseas travel accident insurance twice a year

How maximum credit limit is calculated?

Credit limit is calculated and assigned based on the credit underwriting done by the bank based on applicant’s financial status.

Is my credit limit shared among my supplementary cardholders?

Yes, your credit limit is shared regardless of the number of supplementary cardholders.

What is the grace (interest free) period, billing & payment cycle & dates?

  • Normally, there is grace (interest free) period of 15-45 days depending on day the transaction is made.
  • Interest free grace period will be applicable for purchase transactions only. There will be no grace period for Cash Withdrawal.
  • Billing date is defined per product i.e KBZ UPI Classic on 20th & Platinum is on 25th on every calendar month, which includes transaction for whole month, fees & charges accrued.
  • Payment due date is on +15 days from billing date. If +15th day is a Bank holiday, next working day would be applicable.

What is interest rate & how it is calculated?

  • The current interest rate is 13% per annum, applicable on unpaid dues on daily basis and posted on monthly statement billing.
  • There will be no interest applicable for purchase transactions if paid in full on first due date. However if customer opted for partial payment, there will be no interest free period.

What happens if customer don’t pay on due date?

  • First delinquency is defined as the first date of overdue. Customer will be charged with interest & late payment fee on next billing if customer missed payment on first due date.
  • Second delinquency is defined as the non-receipt of payment on second overdue (60 days) upon which the Bank may proceed for the recovery measures including follow-up with customer, send written request etc. Also late payment fee and interest are applicable.
  • Third delinquency is defined as non-receipt of payment on 3rd overdue (90th day).
  • Once customer reaches 3rd delinquency, card will be blocked automatically and the Bank initiates necessary recovery action including but not limited to legal action.

Where can I use my credit card?

KBZ UPI Credit Card can be used to make payment for good & services (including online purchase) at participating merchant outlets in Myanmar and abroad including cash withdrawal  at all ATMs located in Myanmar and Global ATMS which displays the UnionPay or UPI  brand.  The current UnionPay acceptance network extends to over 160 countries worldwide. The usage/ withdrawal amount is subject to the terms and conditions.

What is a chip-based card?

A chip card, also called an EMV chip card or Smart Chip card, uses an embedded microchip instead of a magnetic strip to store data. The microchip embedded in your card encrypts your data, providing enhanced security against counterfeiting when used at a chip-enabled terminal.

Is it safe to use the magnetic card strip at merchants that don't have a chip-enabled terminal?

While the chip technology provides enhanced security, using the magnetic strip continues to be a safe way to use your card.

How do I use the new chip card?

At a chip-enabled terminal

  • Instead of swiping, insert your card face up into the terminal
  • Don’t take the card out until the transaction is complete
  • Sign for your purchase or enter your PIN, if asked, and remove the card

At a traditional terminal without chip technology

  • Just swipe your card as you’ve done in the past
  • Sign for your purchase, if asked

For phone or online purchases

  • Complete your purchases just as you’ve done in the past.

What if I'm at a merchant that doesn't have a chip-enabled terminal?

KBZ UPI Credit Card has the embedded chip as well as a magnetic strip card. If the merchant has not upgraded their POS terminals to chip technology, you can still make the payment by using your card by swiping the magnetic strip.

Do I need a PIN to use my new chip-based credit card?

Yes. In Myanmar for all of your Point of Sales (POS) transactions, you need to enter PIN to authenticate the transaction. However, outside Myanmar, you may or may not have to enter the PIN, depending on the merchant’s POS terminal capability.

What do I do if I lose my card?

Please call the Bank’s 24 hour customer service hotline immediately to report :

  • For Platinum Card +95 137 0066
  • For Classic Card  +95 137 0055

What should I do if I did not receive my monthly credit card statement?

Please call the Bank’s 24 hour customer service hotline for assistance :

  • For Platinum Card +95 137 0066
  • For Classic Card  +95 137 0055

How do I pay my monthly Credit Card outstanding payment?

At the moment, Credit Card outstanding payment can be made as follows :

  • By cash or cheque at any KBZ Bank branches nationwide
  • By Direct Debit standing instruction from your banking account

What is the Direct Debit facility?

The Direct Debit is a facility available to KBZ Bank account holders. It takes care of your monthly Credit Card payments to the bank. If you register for the Direct Debit facility, your outstanding Credit Card statement amount will be automatically debited from your KBZ Bank account on your payment due date every month. The payment will be credited in your Credit Card account on the following day.

Should I have any enquiries, which number do I call?

You may call the Bank’s 24 hour customer service hotline for assistance :

  • For Platinum Card +95 137 0066
  • For Classic Card  +95 137 0055

KBZ Visa Credit Card FAQS

What is Visa Credit Card?

Visa credit card is a kind of unsecured personal loan provided through a “plastic card”, which can be used for payment of goods & services or cash withdrawal.

How many types of Visa credit card are issued by KBZ Bank?

There will be two (2)  types of Visa credit card issued by KBZ bank i.e Platinum & Classic cards with PayWave function. Customers can apply for any of the card based on their income eligibility.

What is PayWave?

Visa payWave is a contactless method of payment – the latest evolution in Visa payments. It is  simple, secure and quick payment method. The technology enables cardholders to ‘tap’ their card on a contactless POS terminal to make transactions up to the amount set by the merchant’s acquiring bank, alongside “inserting” or “swiping” their card into POS terminals. The cards have a tiny antenna embedded into the chip which securely transmits payment instructions to and from a specially adapted card terminal.

Who can apply for KBZ Visa credit card?

Any interested customer who meets the qualification criteria, can apply for KBZ Visa credit card. However, the approval of the application and the credit limit is subject to the Bank’s discretion.

How to apply for KBZ Visa credit card?

Customer can apply for KBZ Visa credit card by completing the prescribed application form available at the KBZ Bank branches together with the required documents.

What is the basic qualification criteria?

The minimum age for principal applicant is 21 years and the minimum monthly income for Classic card is MMK300,000 and for Platinum card is MMK2,000,000.

How long will it take to get the card approved?

It will take approximately 8 to 10 working days.

What is a supplementary card?

A supplementary card is usually an additional credit card that you can apply for family members. The supplementary cards are issued under the same account as the primary card holder and the credit limit is shared between primary and supplementary cardholder.

What is the maximum number of supplementary cards, can a customer apply?

Maximum of 4 cards

What is the age eligibility of supplementary cardholder?

18 Years and above

What is the key difference between Platinum and Classic credit card?

The key difference between KBZ Visa Platinum & Classic credit cards are the added value proposition and the premium fees charged for Platinum cards.  KBZ Visa Platinum credit card has additional value proposition such as :

  • Two (2) times complimentary access to Airport VIP Lounges every year at over 400+ airports, 950+ lounges (applicable from March 2017).
  • Up to 50% discount at 800 dining outlets in Airports around the world (applicable from March 2017)
  • 20% discount in any F & B outlets in Sule Shangri-La, Yangon for a maximum of 30 guests per visit except banquet and in room dining.
  • Rewards & exclusive discounts from various Visa merchant partners around the world.
  • Overseas Travel Accident Insurance two (2) times per year.
  • Visa Concierge Services (24 x 7).

What is the interest free period, billing & payment cycle & dates?

  • Normally, there is interest free period of 15-45 days depending on day the transaction is made.
  • Interest free grace period will be applicable for purchase transactions only. There will be no grace period for Cash Withdrawal.
  • Payment due date is on +15 days from billing date. If +15th day is a Bank holiday, next working day would be applicable.

What is interest rate & how it is calculated?

  • The current interest rate is 13% per annum, applicable on unpaid dues on daily basis and posted on monthly statement billing.
  • There will be no interest applicable for purchase transactions if paid in full on first due date. However if customer opted for partial payment, there will be no interest free period.

What are the maximum & minimum limits?

As per Central Bank of Myanmar guidelines, the current maximum limit allowed is up to MMK 5 million subject to credit approval by the Bank and there is no minimum limit set .

When is the statement billing date?

The statement billing date will be on 15th or 20th of each month.

What happens if customer don’t pay on due date?

  • First delinquency is defined as the first date of overdue. Customer will be charged with interest & late payment fee on next billing if customer missed payment on first due date.
  • Second delinquency is defined as the non-receipt of payment on second overdue (60 days) upon which the Bank may proceed for the recovery measures including follow-up with customer, send written request etc. Also late payment fee and interest are applicable.
  • Third delinquency is defined as non-receipt of payment on 3rd overdue (90th day).
  • Once customer reaches 3rd delinquency, card will be blocked automatically and the Bank initiates necessary recovery action including but not limited to legal action.

How much Cash Advance is allowed from the approved Credit Limit?

 20% of the approved Credit Limit

 

Where can the card be used?

KBZ Visa credit card can be used to make payment for good & services (including online purchase) at any participating merchant outlets in Myanmar and overseas including cash withdrawal  at all ATMs located in Myanmar and Global ATMs which displays the VISA logo. The usage / withdrawal amount is subject to the terms and conditions.

How many ATMs and merchants accept Visa cards globally?

There are 36 million participating merchants and 2.4 million ATMs globally accept Visa cards.

What is a chip-based card?

A chip card, also called an EMV chip card or Smart Chip card, uses an embedded microchip instead of a magnetic strip to store data. The microchip embedded in the card, encrypts the data, providing enhanced security against counterfeiting when used at a chip-enabled terminal.

Is it safe to use the magnetic card strip at merchants that don't have a chip-enabled terminal?

While the chip technology provides enhanced security, using the magnetic strip continues to be a safe way to use the card.

How to use the new chip card?

At a chip-enabled terminal

  • Instead of swiping, insert the card face up into the terminal
  • Don’t take the card out until the transaction is complete
  • Sign for the purchase or enter the PIN, if asked, and remove the card

 

At a traditional terminal without chip technology

  • Just swipe the card
  • Sign for your purchase, if asked

What if the merchant does not have a chip-enabled terminal?

KBZ Visa credit card has the embedded chip as well as a magnetic strip card. If the merchant has not upgraded their POS terminals to chip technology, cardholder can still make the payment by using the card by swiping the magnetic strip.

What is the billing currency of KBZ Visa credit card?

KBZ Visa credit cards base currency is Myanmar Kyat.

What is the transaction currency for domestic (within Myanmar) transaction?

The transaction currency for domestic transactions depends on discretion of merchants accepting the card. It can be on MMK or US$. Any US$ transaction currency will be converted to equivalent to MMK using prevailing exchange rate

What is the transaction currency for overseas transactions?

The transaction currency for overseas transactions depends on transaction currency of respective countries. The transaction currency is converted to equivalent to US$ and further to MMK using exchange rate set by Visa International.

How does cardholder pay their monthly Credit Card outstanding payment?

At the moment, credit card outstanding payment can be made as follows :

  • By cash or cheque at any KBZ Bank branches nationwide
  • By Direct Debit standing instruction from your banking account

Should customers have any enquiries, which number should they call?

Customers can call Card Department’s 24 hour customer service hotline for assistance :

For Platinum Cardholder               +95 137 0066

For Classic Cardholder                    +95 137 0055

What is the Direct Debit facility?

The Direct Debit is a facility available to KBZ Bank account holders. It takes care of your monthly credit card payments to the bank. If you register for the Direct Debit facility, your outstanding credit card statement amount will be automatically debited from your KBZ Bank account on your payment due date every month. The payment will be credited in your Credit Card account on the following day.

Internet Banking FAQS

What is KBZ Internet Banking (Internet Banking, Mobile Banking)?

KBZ Internet Banking is a specialized online platform to allow KBZ customers to perform banking activities at home, via the internet. You can do any Internet banking activities such as account transfers, balance inquiries, bill payments, and stop-payment requests. Account information can be accessed anywhere anytime.

Why should I use KBZ Internet Banking?

KBZ Internet Banking provides instant up-to-date access to your accounts from anywhere and anytime as long as you have access to the Internet. It is secure, easy-to-use, and convenient and takes only a few “clicks and taps” to get updated account information and complete a banking transaction leaving you with more time for other things.

What are the benefits of KBZ Internet Banking?

Benefits of using KBZ Internet Banking are as follow:

  • Service available 24/7
  • Save time and cost of travelling
  • Make instant payment and transfer
  • Carry out transactions from the web or KBZ Mobile Banking app
  • Receive instant notifications of financial transactions

Is KBZ Internet Banking available 24 hours a day?

Yes, KBZ Internet Banking service is available 24 hours a day, 7 days a week.

Can I access KBZ InternetBanking service from overseas?

Yes, KBZ InternetBanking service can be usedfrom anywhere with internet access.

Can we get help on how to use KBZ InternetBanking?

Yes, you can download the user guide from KBZ iBanking login page.

What if I don’t have a PC or laptop to access KBZ Internet Banking?

You can access KBZ Mobile Banking with any Android and iOS devices.

How many types of account can I use in KBZ Internet Banking?

The following 6 types of accounts can be used:

  • Savings account
  • Current account
  • Term deposit account
  • Loan account
  • Call deposit account
  • KBZ MPU Card account

How to apply Internet Banking FAQS

Who can apply for KBZ Internet Banking?

Anyone who has KBZ Personal bank accounts or KBZ Corporate bank accounts.

How do I apply for KBZ Internet Banking?

  • Visit your nearest KBZ branch
  • Fill internet banking application form (email address & mobile phone number required)
  • Show your ID card (NRC/Passport)
  • Collect your PIN mailer which contains Username & Password to access your online banking instantly

Can KBZ Corporate account holders/ companies apply for KBZ Internet Banking?

Yes, KBZ Corporate account holders/ companies can apply for KBZ Internet Banking. Please kindly visit your nearest KBZ branch with the following documents:

  • NRC Card (Maker/Checker)
  • Company Registration Card
  • Form 6/ Form 26/ Form E
  • BOD Resolution (with Company letterhead and BOD signatures)
  • Company Stamp
  • Email address of Makers/Checkers
  • Mobile Numbers
  • Corporate iBanking Application Form

Will my KBZ accounts appear under a single Internet Banking user ID?

Yes, your KBZ accounts will appear under a single User ID.

How to Login Internet Banking FAQS

I have forgotten my User ID. What should I do?

If you forgot your User ID, please kindly visit your nearest KBZ branch with the following information and document:

  • NRC Card
  • Email Address
  • Mobile Number

Can I change my Internet Banking password?

Yes, you can change the password under “Change Password” button in the top menu after logging in to Internet Banking.

What if I forgot my password?

If you forgot your password, there are 2 ways to reset it.

  1. Click “Forgot Password” button on the log in page, then click on “User ID” box then key in your User ID then click submit. An OTP will be sent to reset the password.
  2. (or) Please visit your nearest KBZ branch with the following information and document:
    • iBanking User ID
    • NRC Card
    • Email Address
    • Mobile Number

Is User ID for both Internet Banking and Mobile Banking the same?

Yes, the User ID for both Internet Banking and Mobile Banking is same.

Security FAQS For Internet Banking

What are the security features of KBZ Internet Banking?

We have put in place the industry’s best security features:

  • Industry’s strongest SSL encryption
  • Firewall
  • Personal Identification Number (PIN)
  • Automatic Logout Feature
  • Constant alert and notification
  • Constant and Vigilant Monitoring
  • Regular Review and Audit

What is log-in password?

Log-in password is used when you want to access KBZ Internet Banking.

What is OTP password?

OTP (one-time-password) is used when you carry out financial transactions within KBZ Internet Banking.

Why does my session expire and I have to log-in again?

KBZ Internet Banking will be automatically logged out if you forgot to log out or if you are not using your KBZ Internet Banking for some time after logging in.

Why is my Internet Banking account locked?

Your Internet Banking account will be locked to prevent fraud if you tried to enter wrong User ID or Password for more than 3 times.

Transactions and Services FAQS for Internet Banking

What type of transactions can I do with KBZ Internet Banking?

The following transactions can be done in KBZ Internet Banking:

  • Funds transfer between your own KBZ bank accounts
  • Funds transfer to other KBZ bank accounts
  • Multiple accounts fund transfer
  • Set-up scheduled/ standing instructions for payments
  • Cardless Withdrawal
  • KBZ Prepaid Visa/Master cards top-up
  • Pay Bills (Electricity bill)
  • Mobile Top-up
  • DirectPay to pay for online purchases

Are there any other Banking services can I request online?

The following request can be done:

  • View cheque status
  • Stop or unblock cheque
  • View account statements
  • Cheque book request

Can I transfer to all KBZ accounts?

Yes, you can transfer to all KBZ accounts having 17-digits account number.

Can I transfer funds to KBZ Corporate accounts?

Yes, you can transfer funds to KBZ Corporate accounts.

Can I transfer funds to other banks’ accounts?

At the moment, you can only transfer to internal KBZ bank accounts.

Can I make changes to my transaction limits?

Yes, you can change the transaction limits online. Please go to “Customer Services” tab then click “Change Users Limits”. However, you can only change the transaction limits within the bank specified limit.

Can I change my email address online?

No, you cannot change the email address online. Please kindly visit your nearest KBZ branch.

Can I change my mobile phone number online?

No, you cannot change the mobile phone number online. Please kindly visit your nearest KBZ branch.

How do I send enquiry messages, feedbacks, and complaints related to Internet Banking?

You can write to us by going to “Mail Box” under “Customer Services” tab in Internet Banking.

Technical FAQS For Internet Banking

What do I need to access KBZ Internet Banking?

You can access KBZ Internet Banking by using computer, Android, and iOS devices.

What kind of browsers can I use?

Mozilla Firefox, Google Chrome, Internet Explorer and Safari can be used to access KBZ Internet Banking.

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