Find out how you can send money to Myanmar.
Unlike American dollars or British pounds, the Burmese Kyat is not a major international currency. The choice of companies that let you send money to Myanmar (formerly Burma) is limited.
If you want to send money to Myanmar, you must compare the services of a select number of specialty international money transfer companies, like Western Union, alongside comparing any banks that may allow the transfer.
You will generally have to send a cash transfer since transfers directly sent to a Myanmar bank account from a Canadian bank account may not be approved. A few Canadian banks may allow transfers to Myanmar including RBC, TD, BMO, CIBC and Scotiabank, however there sanctions in place between Canada and Myanmar, may result in a bank rejecting the idea of sending funds there. Check with your bank to find out the current policy.
Read on for information about how to send money to Myanmar, and tips on how to compare money transfer companies so you can find the best deal on your international money transfer to Myanmar.
Sending money to Myanmar
At the time of writing, Burma is currently sanctioned by the Government of Canada, meaning that some banks will not allow you to send funds to Burma. This is due to political reasons and often related to preventing funds from entering a country if there is a concern that the funds may be used to finance or influence terrorism. Although there are currently only sanctions on assets, arms and technical assistance, finance sanctions could come into place at any time. It’s recommended that you check the situation before attempting a transfer. If your bank refuses to send funds to Myanmar, you can instead visit a Western Union or MoneyGram outlet and perform a cash transfer. The exchange rate and fees for the transfer will be advised at the time of the transaction.
Compare Money Transfer Services
How do I compare transfer companies when sending 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 a bad one, have a look at the following factors to find out how to compare quotes on an international money transfer.
- Exchange rates. The exchange rate describes the conversion between Canadian dollars and Myanmar Kyat. For instance, an exchange rate of 1:1000 means for every one Canadian dollar you exchange, you will get 1,000 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. Companies that can send the money really quickly tend to charge higher fees.
- 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 more 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 company if something goes wrong? Check to see whether the provider has 24-hour customer service and whether you can contact them on weekends. Furthermore, some companies will offer email, phone, web chat and in person service, while others may only offer one or two of these options.
How do I send money to Myanmar from Canada?
Compared to a currency like the Canadian dollar, the Kyat is not a commonly traded currency. There are only a couple 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 has a number of cash collection points in Myanmar. You can send money to Myanmar by visiting a Western Union branch in Canada. Your recipient can collect the funds from a local merchant.
- MoneyGram. MoneyGram offers a similar service to Western Union. Send money to Myanmar by sending cash from a MoneyGram outlet. Canada Post haa a partnership with MoneyGram, allowing you to send and receive money at hundreds of locations across Canada.
- PayPal. As long as both you and your recipient have PayPal accounts, you will be able to send and receive funds via PayPal.
- Banks. Some Canadian banks will allow you to send money to Myanmar. Depending on any sanctions in place, some of the bigger banks like RBC, TD, Scotiabank, CIBC and BMO should allow such transactions.
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 need emergency cash, for example if your wallet or purse was 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, however you may need to provide a police report.
- International transfers with cash pickup. If you need to get money to Myanmar quickly, you can send the money using an international transfer service with an option for cash pickup. Western Union and MoneyGram are two companies that offer this service. The money is usually available within minutes of sending it from Canada.
- Credit Cards. Your credit card scheme may provide some emergency funds if you are in need of cash. You will likely pick up these funds at a specified bank in Myanmar.
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’ll need to send the money using a service like Western Union or MoneyGram.
Send money to Myanmar 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 has expanded the services it offers in Myanmar. MoneyGram services are provided through three banks in the country. Cash can be collected from the following financial institutions in Myanmar.
- Asia Green Development (AGD) Bank
- Myanmar Citizens Bank (MCB)
- Tun Foundation Bank (TFB)
Tips for picking up cash in Myanmar
The Government of Canada recommends that Canadians visiting Myanmar should exercise a high degree of caution. The Government also advises that Canadians should reconsider their travel plans if they’re visiting certain areas within the country — including the Rakhine State, Northern Shan State, Kachin State and the borders with Thailand, China and Laos.
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 don’t flash large amounts of cash around on the street. Avoid using public transportation and immediately put the funds in a safe place.
How to send money to Myanmar
If you want to transfer funds to Myanmar, you need to send cash. You will need to provide some basic information before the transaction is processed including:
- 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’ll be given documentation to show that the transfer has been confirmed. Keep your receipt in case of any problems.
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.