Hundee Funds Transfer (Myanmar - Thailand) Agent In Phuket?

[simon43]

Next week I start a new phase in my life when I relocate to Myanmar and start working on both educational and humanitarian projects. (My wife will manage our hotel business with my 'remote' assistance via email).

Right now, there does not seem to be any formal method to remit funds from Myanmar to Thailand. However, I assume that there must be Hundee (informal funds transfer system) agents in Phuket.

I will need to remit smallish funds back to Thailand. Does anyone know of a hundee agent in Phuket, preferably north Phuket? (If not, I'll have to go and ask some Burmese workers where the agent is)

Thanks

Simon

[bunta71]

Cannot help you there Simon but please occaisionally pop back on here and give us a headsup on your adventures

[ripstanley]

What is Hundee transfer?

[simon43]

What is Hundee transfer?

Private money transfer agent network - there is as yet, no international banking system in Myanmar

[NamKangMan]

Things will move very fast in Myanmar. Here's an interesting article on banking in Myanmar dated the 28th June, 2012.

http://www.icbc.com.cn/ICBC/Investment/Securities/More%20Foreign%20Banks%20Seek%20Opening%20of%20Representative%20Office%20in%20Myanmar.htm

One paragraph in this article states:

"Moreover, four Myanmar private banks including Cooperatives Bank, Kanbawza Bank, Asia Green Development Bank and Ayeyawaddy Bank have also been allowed to handle remittance to homeland from Myanmar migrant workers working in Singapore, Thailand and Malaysia starting February."

I'm sure these banks could do a remittance in the other direction, out of Myanmar.

In any case, wouldn't your employer be paying your wage/salary into a foreign bank, not a Myanmar Bank? If so, just do an international transfer over internet banking. Yes, possibly a little more expensive, but easily done.

[simon43]

NamKangMan, my employer is a Burmese company, not a multinational and so it's quite correct that they pay me within Myanmar. My understanding of the current banking situation is that inbound remittances from overseas are now possible, but outbound is not yet authorised. But as you say, many things are changing very fast and so outbound could be possible in the very near future.

Simon

[NamKangMan]

NamKangMan, my employer is a Burmese company, not a multinational and so it's quite correct that they pay me within Myanmar. My understanding of the current banking situation is that inbound remittances from overseas are now possible, but outbound is not yet authorised. But as you say, many things are changing very fast and so outbound could be possible in the very near future.

Simon

When you used the word "project" along with the words "educational" and "humanitarian" I assumed (yes - silly me) that it would be with an NGO, in which case, they would deposit your pay into a foreign bank account of your choice, usually a low tax threshold country. Eg. Singapore

[simon43]

Ah, I understand. The educational projects are my paid employment (Burmese employer). The humanitarian projects are my volunteer (unpaid) work

Simon

[Guest]

Simon43: Your move sounds interesting. Could you share your initial feelings, how is the life there, specially compared to living in Phuket?

[simon43]

Oilinki - I will let you know! Although I have been working on a weekly basis in south Myanmar, this is not the same as living and working in the country. I'm moving for several reasons:

- My Phuket hotels are usually fully occupied and I need funds to build more guest-rooms. Despite being well-qualified and experienced, I was unable to find a job in Thailand. So I need to go abroad to earn some $$$

- I want to learn the Burmese language to compliment my Thai and Lao language knowledge. The best way to learn the language is to immerse oneself in it

- I work as a volunteer on humanitarian and anti human-trafficking projects. Myanmar is a good location for me to continue to apply my skills in these areas

- I am the only licensed radio 'ham' in Myanmar, and I want to enjoy this hobby to the full in a country which is highly sought-after by other radio hams.

Er.. must be some more good reasons to relocate to Yangon, but that's enough for now

Simon

[NamKangMan]

Ah, I understand. The educational projects are my paid employment (Burmese employer). The humanitarian projects are my volunteer (unpaid) work

Simon

It will be interesting in the near future what laws Myanmar adopt in relation to western foreigners working in their country.

With so many occupations reserved for Thai's, in Thailand, Myanmar might be a good option rather than having to pay a Thai to do something that you can do yourself. Eg. serve a beer in your own bar :)

[LivinginKata]

Way off topic post removed, no need for any personal attacks.

[snamos]

I saw a Myanmar agent of some description next to the Sony shop on the old Phuket Airport road the other day, they might know something about it

[simon43]

Snamos, I was able to find an agent in Yangon. The commission rate was very low and my wife received the funds directly into her Kasikorn Bank account in Phuket the very next day