Crash Course Needed On How Im Going To Send Money. (Myanmar/uk/thai)

[Kiggs]

Hello all.

Can I ask for any info or sites that might get me on track! I’m starting work soon in Yangon and I’m going to need to move some money to the UK and Thailand every month. I have seen a few sites that talk about “Hondi” are these still the guys to use or have the banks started allow you to BACs?? I’m only talking about a 1000USD a mth not massive amounts, well in saying that its probably only going to be 500USD.

Thanks for all the help

[SeaVisionBurma]

Kiggsy - I'll post something on this when I'm back on the computer next, but in the meantime please send me a PM.

There's another helpful poster on the Myanmar forums who may also have some advice - DK are you free?

Sent from my ALCATEL_one_touch_918D

[SeaVisionBurma]

One good bit of timing for you though is that very shortly you will be able to draw kyats from local ATMs in Yangon with your foreign Mastercard. Visa will follow suit in the near future.

So get a physical Mastercard if you don't have one already.

Sent from my ALCATEL_one_touch_918D

[Kiggs]

Cheers for the help. I dont have a Master Card as yet but have 2 Visa cards. Will sort one over the next week.

PM sent.

[DagonKhan]

There's another helpful poster on the Myanmar forums who may also have some advice - DK are you free?

You called sir?

I wouldn't worry about it too much Kiggs. Plenty of money changers who use the hondi system that will accommodate you. What I would suggest is that you ask around when you get here, you may well be able to do such a deal with an expat already here, that's quite common.

[Kiggs]

Thanks for the info,not sure what you mean but I'm sure I will find out also can you give me some advice on visa for the wife. I will have a work visa but she will be on a tourist does it work like thai ? Meaning visa runs every mth? Sorry for all the questions but unsure who to ask.

[Kiggs]

Sorted her visa. Just rang the embassy in London. She will be granted a business visa.

[DagonKhan]

Thanks for the info,not sure what you mean but I'm sure I will find out

I was just trying to reassure you about the money thing. There are literally loads of money changers, I'd be shocked if the people you're working for (or with) couldn't point you in the right direction, failing that there are always expats who frequently change between themselves.

[Kiggs]

O ye changing is not a massive worry. Its the sending to the uk that's the worry.

[SeaVisionBurma]

Hi Kiggs,

Sending money to the UK is definitely a different issue.

Will your company be paying you in Yangon, or are they based in Thailand.

The simplest solution is for them to be paying you outside Myanmar - you can then transfer money in as required (either through Hondi for larger amounts - or by drawing through local ATMs which is due to go ahead very soon)

Hondi system. Due to banking isolation/restrictions for so many years - many people working in Myanmar use the hondi system to draw money inside the country.

Usually it is with a local business - they have accounts in other countries (example Singapore). You transfer funds to their Singapore account, and then they give you the equivalent funds in Yangon (usually in USD or Kyats). The system has been operating for a long time, and it works.

Your wife's business visa will likely be a single entry 70 day visa to begin with. Normally after one or two visa runs (usually to Bangkok) - the embassy will start to issue you with a Multiple entry business visa. Duration will be 6 months, can later extend to a year.

Hope this helps - please feel free to ask other questions though

Cheers

SVB

[Kiggs]

It does mate thanks a lot

I need to sit down and work all this out! I have sent you a PM.(before I looked at this)

[DagonKhan]

SVB is spot on.

Are you concerned because you'll be paid in the local currency? Or US$ in cash? If you are, you needn't be. It never ceases to amaze me where money can be delivered using the hondi system and also how quickly.

[Kiggs]

I don't have any worries about bow I get paid and in what,the only worries I have is getting about 500quid back to the Uk every mth. (RBS account) I do have to send some to thailand but that's only a little bit and can take that every visa run or jolly we go on.

Edited December 3, 2012 by Kiggs

[Kiggs]

Scrap that 500 its only about 350.

[SeaVisionBurma]

I don't have any worries about bow I get paid and in what,the only worries I have is getting about 500quid back to the Uk every mth. (RBS account) I do have to send some to thailand but that's only a little bit and can take that every visa run or jolly we go on.

Your best bet is to get the company to arrange this for you. Make a standing instruction with them (through whoever pays you in Singapore each month) that x amount of $ is to be wired to your RBS account, as you will be in Myanmar and don't have access to normal banking facilities there.

I worked for an Australian company for 8 years in Myanmar previously - and it was a matter of routine each month that they split my salary 3 ways.

Some went into my Australian account, and some I drew locally in Yangon for personal expenses - and the rest was wired to an account in Hong Kong.

I can't see your employer having a problem with this.

Hope this helps

cheers

SVB

[householder]

Your wife's business visa will likely be a single entry 70 day visa to begin with. Normally after one or two visa runs (usually to Bangkok) - the embassy will start to issue you with a Multiple entry business visa. Duration will be 6 months, can later extend to a year.

Hope this helps - please feel free to ask other questions though

Cheers

SVB

Just to clarify, the visa duration doesn't make a difference - it's still only valid for 70 days per entry, but saves you on cost/hassle each time you leave and come back. So you have to fart around with KL or Bangkok flights every 70 days. If you overstay it's $3 a day - there's a limit. You also have to have a D-Form for you and your wife at a cost of 1500-2000 kyat each each time you do this.

Not to mention immigration - each time you re-enter the country you have to endure the four-tier immigration registration system, in theory. To describe the system as a pain in the ass would be far too generous.

Edited December 4, 2012 by householder

[SeaVisionBurma]

Just to clarify, the visa duration doesn't make a difference - it's still only valid for 70 days per entry, but saves you on cost/hassle each time you leave and come back. So you have to fart around with KL or Bangkok flights every 70 days.

Not quite correct.

Spent years in the country on Business Visas with a 12 month limit - did not have to go out every 70 days. MJSRV with Stay Permit.

So yes the visa duration does make a difference.

Once you have been staying there for some time you can change the conditions of the Business Visa so that you do not have to leave every 70 days.

I rarely had a stay inside Myanmar that was less than 3-4 months - sometimes up to 6 months at a time.

[Kiggs]

Thanks for this guys.

I have spoken to the company they are sorting a split payment system and bank account in Singapore.

I called the embassy and they said they will issue and then we can extend it to 6 and then 12 mths when I'm there.

All looking good so far. Should be there 1st Feb after a week in Singapore.

Bring on the Sun and 30c its 5c atm for me and raining!!!!! Will be glad to see he back of this place.

[simon43]

I use a Hundi agent in Ahlone Township, west Yangon, who transfers my funds to Kasikorn Bank in Thailand each month. For Thai funds transfers he can only use Kasikorn Bank (Thai Farmers Bank). My agent is very cheap, fast and reliable.

Right now, only inbound funds transfers can be made to Myanmar Banks, no outbound yet. Western Union has also had adverts in the local newspaper last week, so they will be opening their offices soon.

Mastercard has a connection with CB Bank for acceptance of foreign debit cards (not credit cards right now) that have the Mastercard logo. Foreign credit card acceptance is coming.

According to a presentation by the Director of the Central Myanmar Bank that I attended on last Monday, they are busy building their data centre inside the CMB building. Each local bank already has their own network af ATM machines, (usually very few!), that are now all interconnected via the CMB hub. But that is currently only working with local debit cards with the Myanmar Payment Union (MPU) logo.

The international connection to Mastercard is currently only connected via the CB Bank node, due to some technical issues. But that connection will be relocated soon to connect with the MCB hub, and then Mastercard will be compatible with all Myanmar bank ATMs. Visa, JCB and CB connections are also part of the roll-out plans.

This interesting presentation also included a complete floor plan of the central bank building!

Simon

Edited December 6, 2012 by simon43

[simon43]

Once you have been staying there for some time you can change the conditions of the Business Visa so that you do not have to leave every 70 days.

After your first 70 day stay, you need to do a visa run. At Yangon Airport, you also need to pay $3 in the immigration office for a D-form = departure form which is required for all persons who have stayed in Myanmar for more than 30 days.

In the immigration office, on the wall above the officer's desk is a notice in English that says if foreigners wish to stay longer than their visa limit of 70 days, then they should apply in that office for an extension of their visa.

Although I'm now on my third 70-day visa, I am happy to go to BKK every 70 days, simply because there are many activities that one cannot easy do in Yangon ==> banking, Paypal, Google Adwords ... er ..... nightlife!!

Simon

[householder]

I've withdrawn a fair chunk using my UK Mastercard (credit card) from some of the CB Atms now. Sometimes the connection breaks and the ATM is out of service for a few minutes, but on the whole, it works fine. I've just received the papers to apply for a credit card with no foreign ATM charges or commission.

Google Adwords - you sound like you're in the internet marketing biz...

[Kiggs]

Ye thinking I might just save it up and dump it into a thai account and move it from there. Makes life sound a lot easier plus as you say its an excuse to have a walk down soi cowboy.

Its all starting to fall into place have to say a big thanks to everyone that's helped and please keep any info coming.

Dan

[simon43]

Google Adwords - you sound like you're in the internet marketing biz...

I use Google Adwords to promote a couple of small hotels that I own in Thailand. It is very frustrating to be 'blocked' by Google whenever I try to access my Adwords account from Myanmar. Yes, I can use a proxy etc. But that also has problems because proxy use can 'upset' the authorities within Myanmar. Also, most proxies 'anonymise' your internet connection to such an extent, (eg no cookies, no scripts etc), that you are blocked by Google for being too anonymous!!

I run my own proxy server to get round these issues, but it's about time Ebay, Paypal and Google read the news and realised that sanctions have been removed......

Simon

[SeaVisionBurma]

I run my own proxy server to get round these issues, but it's about time Ebay, Paypal and Google read the news and realised that sanctions have been removed......

Simon

Just had a 6 month debacle with Paypal. Tried to log in to my account and make a payment in June, from Yangon (I wasn't thinking) - and they blocked it.

Back and forth for months, sent copies of ID numerous times, but they kept blocking me.

Finally had the block lifted and account restored last week.

They sent me an email vaguely addressing the Myanmar situation:

Hello XXXXXXX,

While OFAC sanctions regulations have recently changed in regards to

Myanmar, at this time we do not offer service in the country. We look

forward to expanding our services to additional countries in the future.

Establishing our service in each new country involves complex changes due

to different regulations in each of these countries. Our International Team

is working hard to expand our services as rapidly as possible.

For a list of PayPal supported countries, please visit our PayPal website.

Please continue to check our website for updates and features regarding

International Membership. We apologize for the inconvenience this has

caused you.

Sincerely,

PayPal

I take that as nothing happening for a long time yet.

Have taken steps now to get around this problem.

[DagonKhan]

I take that as nothing happening for a long time yet.

Have taken steps now to get around this problem.

I was talking to a guy who has been here a few years whose Bank closed his a/c on him just last month (November). He had mistakenly thought that everything had changed, sent a letter to finally change his address to where he lives here in Yangon rather than use his friends address in BKK, got a letter back saying they were closing his a/c!

[SeaVisionBurma]

Definitely a good idea not to mistake the hype for progress in this situation.

I am certainly going to be more careful for now

[Kiggs]

Im just going to SSH to a box in the UK and do it that way.... The banks are all sorted and the DD are in place. What a royal pain in the <snip>

[Kiggs]

Didnt want to start a new Topic will just add to this a little,

This might be a daft Q so please forgive me (its 01.16) Is it worth exchanging GBP to USD before i go or just change GBP when im there? Im finding it hard to get mint dollor bills in the UK. Im just trying to get everything in order.

Cheers for the help guys.

[DagonKhan]

Didnt want to start a new Topic will just add to this a little,

This might be a daft Q so please forgive me (its 01.16) Is it worth exchanging GBP to USD before i go or just change GBP when im there? Im finding it hard to get mint dollor bills in the UK. Im just trying to get everything in order.

Cheers for the help guys.

I think it is. US$ can be changed anywhere, GBP could present you with more of a problem. Personally I've avoid any doubt and get US$. Have you tried the Post Office? They've done it for me in the past (I specifically ordered/asked for new bills).

[Kiggs]

I have not asked the post office if I'm honest only due to there exchange rates. Will have a look later.

Cheers for the advice