Visa Card Holders To Get Atm Access In Burma

[News_Editor]

Nearly 90 ATMs operated by two Burmese banks will now be able to accept Visa cards, according to a report by the Bangkok-based daily The Nation. Visa announced on Wednesday that Burma’s Co-operative Bank and Kanbawza Bank had joined the worldwide network of 1.96 million ATMs that can be used to access Visa’s electronic payments system. Foreign visitors to Burma will now be able to use their Visa cards at several locations in Rangoon, as well as in other major cities that attract large numbers of international travelers, including Mandalay, Pegu and Taunggyi.

Source: Irrawaddy.org

[Kiggs]

I have just applied for 2 master card credit cards because all mine are visa !!!

[clifric]

Hey Kiggs, are you hedging your bets in order to buy World Cup tickets or similar? Bit of a fiddle involved when they stipulate what card is acceptable to book tickets for these world/european events.

How long before Myanmar banks get on thhe gravy train and charge for using farang cards at ATMs??

[Kananga]

Hey Kiggs, are you hedging your bets in order to buy World Cup tickets or similar? Bit of a fiddle involved when they stipulate what card is acceptable to book tickets for these world/european events.

How long before Myanmar banks get on thhe gravy train and charge for using farang cards at ATMs??

What's a farang card? Do you mean cards owned by all foreign banks or just banks utilised by white people? Do the Burmese even know what a farang is?

[Kiggs]

Hey Kiggs, are you hedging your bets in order to buy World Cup tickets or similar? Bit of a fiddle involved when they stipulate what card is acceptable to book tickets for these world/european events.

How long before Myanmar banks get on thhe gravy train and charge for using farang cards at ATMs??

Lol na just making sure I can get to my money when I'm there

As for charging atms that will happen the day after I land

Sods law!

Thinking of tickets: Singapore GP are the only tickets I want.

[Kananga]

Hey Kiggs, are you hedging your bets in order to buy World Cup tickets or similar? Bit of a fiddle involved when they stipulate what card is acceptable to book tickets for these world/european events.

How long before Myanmar banks get on thhe gravy train and charge for using farang cards at ATMs??

Lol na just making sure I can get to my money when I'm there

As for charging atms that will happen the day after I land

Sods law!

Thinking of tickets: Singapore GP are the only tickets I want.

Have you been to the Singapore GP? Dont buy tickets. Rent a room at the Marina Mandarin overlooking the track. We did that. Costs the same as two grandstand weekend tickets and you have a great view of the track, you can watch the race on a plasma tv in the room, use a real toilet, fill the bath with beer and call room service. Split between 6 or 8 people its a no brainer as the Americans would say,

[Kiggs]

Nice one thanks for the tip:) No never been before,always wanted to but never been in the area at that time of the year.

Anyone want to chip in when I go;)

[johnnynmonic]

A good step in the right direction,,,but I would assume that these will convert currency at the official government rate, rather than the real exchange rate.

[householder]

CB Bank ATMs charge 5,000 kyat per withdrawal.

A good step in the right direction,,,but I would assume that these will convert currency at the official government rate, rather than the real exchange rate.

Not sure where you've been the last few months; the currency has now floated so there's no 'official' and 'black market' rate anymore!

[DagonKhan]

Mastercard are poised to make an announcement I was told a couple of days ago.

[SeaVisionBurma]

by Rapeepat Mantanarat

http://www.ttrweekly.com/site/2012/12/visa-opens-services-in-myanmar/#more-51519

YANGON, 27 December 2012: Visa can now used at almost 90 ATMs operated by Co-operative Bank and Kanbawza Bank across Myanmar to withdraw cash.

Up until now, travellers had to withdraw enough cash before leaving for Myanmar. Visa cards could not be used to withdraw cash or pay for services once in Myanmar, mainly due to tough US sanctions that prevented US companies from offering financial services in the country.

Credit card companies are now ready to enter the market, but the lack of technology and back-up services for ATMs and credit card transactions are still major hurdles. The few companies that have established a base are operating minimal financial services, but 2013 will see that change as the country’s banking system upgrades through co-operation with foreign banks.

By the end of December, the country expects to welcome more than 600,000 visitors. Visits jumped by 37.5% during the first seven months of 2012 compared to the same period last year.

Mastercard was the first international electronic payment card in Myanmar after it started a service 15 November in partnership with Cooperative Bank. The card said it was working with other banks to offer the service as well.

According to the Visa statement, local banks agreed to adopt Visa’s global security standards for electronic payment.

Co-operative Bank and Kanbawza Bank’s combined Visa ATM network covers major towns including Yangon, Mandalay, Bago, and Taunggyi.

Visa partnered with Planet Payment to connect Myanmar bank’s ATMs to VisaNet, and to manage the complexities of cross border ATM and POS processing.

Late November, JCB International, an international subsidiary of JCB from Japan, signed an agreement with Myanmar Payment Union (MPU) to issue JCB cards in the country. It was the third major global credit card companies to launch operations in Myanmar.

The company said it aims to expand JCB card acceptance in early in 2013 and to launch a JCB card issuing programme in the near future.

[householder]

For the last few months there have been so many poorly-written and conflicting reports on this matter that I'm simply gonna stick my prepaid Visa card into the CB ATM when I get back from KL and if money comes out, then I'll believe it.

[DagonKhan]

Here's another one for you householder:- http://www.mmtimes.com/index.php/business/3671-visa-s-service-moves-too-fast-for-partner.html

[SeaVisionBurma]

Here's another one for you householder:- http://www.mmtimes.c...or-partner.html

Great article DK

If anyone has already made or does make a successful Visa card withdraw in Yangon - can they please post and let us know?

[householder]

Here's another one for you householder:- http://www.mmtimes.c...or-partner.html

Great article DK

If anyone has already made or does make a successful Visa card withdraw in Yangon - can they please post and let us know?

Did it when I landed. At CB atm you get stung for 5,000. Not tried it at KBZ, but if it's the same, then it's nearly $6, which is $1 more than Thailand and Cambodia charge for withdrawals. Malaysia, btw, doesn't charge. Lucky it was a prepaid Visa specifically set up for international cash withdrawals.

Information in the article is a load of crap; par for the course for a lot of Myanmar journalism - write what they're told with no verification. I withdrew 3 lakh with no problem whatsoever at the airport ATM. Not sure where this 240,000 limit is, but I didn't encounter it.

[Kiggs]

5000! £3.51

I have all this to come. Lets hope i get paid in Crisp 100 bills All this cocking about is the only thing thats putting a downer on it all.

Rough with the smooth and all that.

[householder]

5000! £3.51

I have all this to come. Lets hope i get paid in Crisp 100 bills All this cocking about is the only thing thats putting a downer on it all.

Rough with the smooth and all that.

You'll get lots of both throughout your time here. Sometimes it's the most frustrating place to live and work you'll have ever set foot in; other times the charm and potential of the place will shine through. Then you do your 70 day visa run and head to Bangkok or Malaysia, are back in the 21st century and REALLY enjoy things like faster internet on your phone than any commercially available internet in Yangon, all the shopping you can shake a stick at and modern, efficient infrastructure, which yields a minor depression for the first few days when you get back to pre 21st century just about everything which still seems to be more expensive than the more modern and efficient neighbours! Soon disappears, though.