If you work in Myanmar (as I do), it is very difficult (almost impossible) to send money online, in order to export your funds from the country. Although one can now access Paypal from within Myanmar, it is still not possible to link a Myanmar bank account to your Paypal account.
A few months ago, I tried to solve this problem by applying for a 'World Traveller' Visa debit card from my bank - AYA Bank. This card can be topped up with USD funds (either with cash payment in Kyat, USD or debited from my bank account). I can then use this card for international, online purchases.
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Well, the card usually works OK for online purchases of books, services etc. Occasionally, the web-site rejects the card because it is registered with a Myanmar bank, and that web-site has not yet updated it's policy regarding the country (Myanmar used to be sanctioned, similar to Iran and DPRK).
So I thought that I could use this card to send funds to 'myself'. I have 2 Paypal accounts, one linked to my Bangkok Bank account in Thailand and the other not linked to any bank. I sent myself an invoice for $100 from the first account to the second, and then tried to pay for it from the second account, using my new World Traveller Visa card.
Well, my wonderful idea failed, because although all the other websites only ask for my card number, CVV and expiry date, Paypal also asked for the country of issue of the card. Their drop-down list of countries didn't even include Myanmar (or Burma), so my payment was rejected.
Years ago, I registered for an account with Moneybookers, which is now called Skrill. I reactivated that old account, and then linked it to my Bangkok Bank account. Then I was able to register my AYA Bank Visa card as a method to deposit funds into my Skrill account.
Mainly because of my post #3. As a foreigner, I am not allowed to open an interest-bearing bank account in Myanmar, (and the interest rates for MMK accounts are high!). I therefore send my hard-earned cash to my Thai bank account and invest in relatively safe Thai ETFs using my Thai broker. That's better than just leaving my salary to be eaten away by inflation.
Update January 2018:
For some unknown reason, my method of sending money to Bangkok Bank via Skrill has stopped working.
I can upload from my Myanmar Visa card to my Skrill account, and I can request a withdrawal of these funds to my Bangkok Bank account. But now Skrill report that the Bangkok Bank account details are incorrect, (which they are not), and that Bangkok Bank refuses my transfer.
I tried this 2 times with the same result.
No idea if Skrill are telling porkies on this, and I'm sure it will be impossible to investigate the problem from Bangkok Bank's side.
Ah well, back to carrying loads of USD....
Myanmar is experiencing a growing interest in and adoption of online payment methods. The landscape is dynamic, with new players evolving to meet the increasing demand for digital financial solutions.
One of the prominent players in the Myanmar online payment sphere is Wave Money. Leveraging the ubiquity of mobile phones, Wave Money has revolutionized financial transactions by providing a seamless and accessible platform.
Users can transfer funds, pay bills, and even make online purchases, all with the convenience of a mobile device. This mobile financial service has gained traction due to its user-friendly interface and extensive agent network, making it a preferred choice for the majority.
Another noteworthy contender is KBZPay, an app-based payment solution offered by KBZ Bank. This application empowers users to conduct various financial activities and puts security first by implementing encryption techniques to protect customer data.
PayCEC enables secure and efficient online payments in Myanmar by connecting merchants, customers, and financial institutions. The payment gateway facilitates the authorization and processing of online transactions, ensuring secure fund transfers.
As Myanmar continues its journey towards a cashless economy, the collaboration between established platforms and innovative gateways like PayCEC contributes to the evolving narrative of Myanmar online payment.
We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achievetheir goals for the development and expansion of the international business market.
Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns atthe moment.
PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.
PayCEC is a service of PayCEC Group of Companies. 2024 PAYCEC refers to PAYCEC network of member firms.
PAYCEC is the trademark or registered trademark of PAYCEC, LLC or its subsidiaries in the United States and other countries. All rights reserved.
Since March 2023, the Chinese Ministry of Public Security has been cooperating with Myanmar and Thai authorities on the border to crack down on transnational communication network fraud and online gambling activities. The 800 Chinese nationals were linked to an online money laundering gang, according to the statement.
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Topping up or sending money to any prepaid phone from MPT Myanmar has never been easier. All you need to do is type the phone's number and check that the country and network provider are correct. If not, click on Change network provider and select the correct one in the drop-down menu.
Then indicate the amount of money you want to recharge and process the request by completing your payment details. Topping up online with doctorSIM is completely transparent and to avoid any nasty surprises during the process you will be told the amount you will be sending, how much the phone will be recharged and, if applicable, any commissions applied.
The phone will be recharged in seconds and you will also receive confirmation by e-mail.
You can recharge any make or model of phone on the market. Simply type the phone's number and follow the steps outlined above to top up the phone.
You can also use this service to send money to a phone from MPT Myanmar or any other network provider in the world quick and easy.
By using one of our secure payment methods which include credit and/or debit card, PayPal, Apple Pay, Cryptocurrency, Visa, MasterCard and American Express and many others depending on the country where you are recharging from.
In most cases, you can pay in your local currency as doctorSIM works with multiple currencies to ensure the process is as quick and easy as possible.
Yes, we do! Current deals and special offers for MPT Myanmar will be displayed at all times so you can take full advantage of topping up with doctorSIM.
Also, subscribe to our social media networks and keep a close eye on our website as available promotions will be updated regularly.
Furthermore, you can use your doctorSIM credits to recharge your phone. So the more you use our services the more you'll gain.
Recharging is instant. Select your preferred secure payment method and top up your phone online. Once payment has been received, your phone from MPT Myanmar will be topped up immediately.
Over the past three months, we compared 2 providers for transfers to Myanmar from a wide range of sending countries and found that on average Western Union was most often the cheapest provider (in 53.7% of the searches).
But Western Union might not be available in the country you're sending money from, and it might not be the cheapest for your transfer to Myanmar as the provider's pricing change depends from country to country and changes over time. This means it's always best to launch a live comparison to find the cheapest provider for your transfer.
Monito compares 2 providers offering international money transfer servicesto Myanmar. The total cost of the cheapest available option at any given point in the past three months was -25.0% of the transferred amount. In comparison, the total cost of the most expensive provider was on average -20.8%.
The cheapest way to send money to Myanmar is through an online provider. Among the 2 available, Western Union was most often the cheapest provider (in 53.7% of the searches on Monito.com in the past 3 months).
If you send money with the cheapest available provider, the total cost of a transfer to tag_hash_110nsfer to MMK was -25.0% of the transfer amount (including all fees and exchange rates) over the past month. Of course, this figure will vary based on the sending country, the pay-in and pay-out options
Western Union is a popular provider with the biggest agent location network. The average cost of online money transfers to Myanmar with Western Union* is -58.3% of the amount you send, whereas the cheapest online services have an average cost of -25.0%. Western Union is the provider that is most often the cheapest for money transfers to a cash pick-up location in Myanmar.
*Sending money from physical agent locations with Western Union is usually much more expensive than using their online service.
Over the past three months, the provider that was most often the cheapest for cash pick-up transfers in Myanmar was Western Union, with an average cost of -53.0% of the amount you send (which includes fees and exchange rate margins).
The average total cost to send to a bank account rather than a pick-up location during the same period was -24.9%. Western Union was the provider most often the cheapest for transfers to bank accounts in Myanmar. 152ee80cbc
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