Monday, April 22, 2013

ATMs everywhere in Myanmar

Myanmar (Burma) is developing rapidly and is quickly embracing the global practices as it gets more open in its political situation. Earlier, when tourists used to visit Burma, they used to carry huge bundles of pristine US Dollars to take care of their expenses. Today, it is not required to carry as many US Dollars as ATMs can be found everywhere in Myanmar, especially in the bigger towns where they can be seen in all the important areas. The two main banks are KBZ bank and CB bank, while other banks like AGD Bank and others are quickly catching up.

ATMs can now be found everywhere in Myanmar
KBZ bank caters to visa, CB bank accepts mastercard and AGD Bank accepts Union Pay cards. All the ATMs allow you to withdraw up to $1200 per day with a maximum limit of $360 per transaction. KBZ bank charges about $6 per transaction as their fee, while CB bank charges $5. Myanmar kyats are widely accepted all over Myanmar. In fact, it is the de facto currency for food, bus commute and miscellaneous expenses. It is only for hotel stays, train tickets, flight tickets, ferry tickets, entrance fees and other government related fees that one needs to pay in US Dollars. However, even here, in some cases, one can pay using Myanmar Kyats. It is so much easier for travelers to manage their finances in Myanmar.

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