EXCHANGE RATES 02/24/2017
USD BUY 1361 SELL 1365
SGD BUY 955 SELL 962
BAHT BUY 38 SELL 38.5
EUR BUY 1422 SELL 1442
EXCHANGE RATES     02/24/2017
USD BUY 1361 SELL 1365
SGD BUY 955 SELL 962
EUR BUY 1422 SELL 1442
BAHT BUY 38 SELL 38.5

International Remittance

To facilitate fast and secure transfer of funds, Kanbawza bank (KBZ) offers international remittance service to students going abroad for the study, patients going abroad for medical treatment/check-up, foreigners and those working overseas.

Remittance Methods

(1) Inward Remittance

Worker’s Remittance

Western Union

Commercial Remittance

(2) Outward Remittance

Telegraphic Transfer

Other Remittance

Worker's Remittance

Worker Remittance is the transfer of money from migrant citizen. The beneficiary can withdraw in Myanmar Kyats (MMK) only. The worker remittance charge is cheaper than commercial remittance. There are five agents to remit through worker remittance.

Fees

No service charges in yangon (if you want to withdraw from outside of Yangon, standard transfer charges will apply)

Transferable Countries

Malaysia- May Bank, CIMB,
Merchant Trade.Thailand- Bangkok Bank,
Siam Commercial Bank(SCB)

Required Documents

NRC ID card(original/copy)
Code Number
Self-withdraw

Western Union

The Western Union Company is an American financial services and communications company. They allow transferring money online to friends and family around the world via Western Union. Customer will be able to withdraw money with provided MTCN1234567890 (Money Transfer Control Number).

Fees

No Service Charges

Transferable Countries

All countries around the world except “North Korea” and “Iran”.

Required Documents

NRC ID card(original/copy)
Code Number
Sender’s information (Name, Country, Amount)
Self-withdraw

Commercial Remittance

Commercial Remittance is Account-to-Account transfer of money from other countries to Myanmar via SWIFT.

Fees

10,000 MMK (Per Transaction) or Equivalent amount of MMKs 10000 with USD, EURO, SGD

Transferable Countries

KBZ Bank and linked directly to all banks send remittances. Send the remaining countries connected via bank transfer.

Required Documents

NRC ID card(original/copy)
Saving Account(or) Foreign Currency Account

Telegraphic Transfer

Money transfer service used the method “TT” (Telegraphic Transfer) according to buyer’s instruction to buy goods from foreign countries. Currently cash on delivery. Mostly used on buying cars and other products.

Fees

– 0.125% on Remittance Amount (minimum Amount- US, EURO, SGD 20)
– Swift charges (2000 MMKs) (or) equivalent USD
– For cancelling, amending and retransferring money – (10000 MMKs) and Swift Charges (2000 MMKs)

Transferable Countries

KBZ Bank and linked directly to all banks send remittances. Send the remaining countries connected via bank transfer.

Required Documents

– NRC ID card(original/copy)
– Foreign Currency Account
– KBZ Application Form
– Import Form
– Import Licence (or) Import Permit (Original/Copy)
– Bill of Lading/ Air-way Bill (Original/Copy)
– Import Declaration (Original/Copy)

Other Remittance

Commercial Remittance is Account-to-Account transfer of money from other countries to Myanmar via SWIFT.

Fees

– 0.125 % on Remittance Amount (minimum Amount- US, EURO, SGD 20)
– Swift charges (2000 MMKs) (or) equivalent USD
– For cancelling, amending and retransferring money – (10000 MMKs) and Swift Charges (2000 MMKs)

Transferable Countries

KBZ Bank and linked directly to all banks send remittances. Send the remaining countries connected via bank transfer.

Required Documents

– Saving Account (or) Foreign Currency Account
– To report KBZ Bank A reason for transfer and full certificate. (Need documents of the reason)

Why choose International Remittance?

Time Saving

The fastest way to transfer money to your loved ones

Cheap transfer

Make the most of KBZ’s competetive  transfer rates

Quick & easy

A simple process giving you peace of mind wherever you are

Secure

The safest way to send your money overseas

In order to remit via one of our correspondent banks, Customers need to provide:
The applicant’s details, the beneficiary details, and Beneficiary’s bank details and purpose of remittance, amount and the currency.

KBZ Bank Swift Code KBZBMMMY

Country Bank Name Swift Code
Malaysia May Bank
CIMB Islamic Bank Berhad
MBBEMYKL
CIBBMYKL
Japan Sumitomo Mitsui Banking Corporation (SMBC)
Mizuho Corporate Bank Limited
SMBCJPJT
MHCBJPJT
Thailand Bangkok Bank
Kasikorn Bank (K-Bank)
Siam Commercial Bank (SCB)
Krung Thai Bank
BKKBTHBK
KASITHBK
SICOTHBK
KRTHTHBK
Singapore Sumitomo Mitsui Banking Corporation (SMBC)
Oversea-Chinese Banking Corporation (OCBC)
May Bank
DBS Bank Limited (DBS)
CIMB Bank Berhad
Bank Negera Indonesia
Cathy United Bank
SMBCSGSG
OCBCSGSG
MBBESGSG
DBSSSGSG
CIBBSGSG
BNINSGSG
UWCBTWTPSGP
China Industrial and Commercial Bank of China Limited (ICBC)
Oversea-Chinese Banking Corporation (OCBC)
ICBKCNBJ
OCBCCNSH
Taiwan Cathy United Bank UWCBTWTP
Germany Commerz Bank
Deutsche Bank
COBADEFF
DEUTDEFF
South Korea Hana Bank
Korea Exchange Ban
Shinhan Bank
HNBNKRSE
KOEXKRSE
SHBKKRSE
Australia Westpac Banking Corporation WPACAU2S

Want to open this account?

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(+95) 1-538075

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