Credit cards, TRAVELLER'S cheques Currencies, Exchange Rates.

Latest information about using credit card in Myanmar (Burma) - December, 2007

No credit card can be used officially due to US embargo. All credit cards including Visa, Master, American Express, JCB that will be used for USD payment are not authorized by US government in Myanmar (since August 2003).
 

However.

You can pay certain tour company, hotel and shops with your international Credit card especially Visa, Master Card. Practical situation is you must ask them if they can accept your card.

You have to know some facts if you are going to use your card and we collected some individual's experience here.

Not-So-Regular Procedure

If you are to use credit card in Myanmar, you almost always accept a not very regular procedure.
 

1. The shops will ask for your passport, exact address when you register your card with your bank.

2. The shops will take a manual print of your credit card with the amount in Thaï or Singapore currency and they also take a copy of your passport (your name in passport must be the same as your card)

3. The shops will ask you to sign on a form - which very often you filled in your details yourself - with an overseas company name. This overseas company name and the merchandise name may appear in your bank's credit card statement. The country can vary such as Singapore, Thailand, UK, USA or EU countries - this is because their counterparts are in those countries with credit card accepting Merchant Account facilities.

4. The shops normally trust you if you are with a travel company or the guide who usually is their friend.

5. The currency may vary such as Thai Baht, Singaporean Dollars, Euro other than US Dollar. Note that amount in US$ in your credit card statement may be higher as bank rates are not very favourable as street Money Changers.

6. The shops may impose 3% to unbelievable 12% some times.

7. Airlines
Whatever the company and the solution you propose, they do not accept credit card.
 

8. Hotels
Pansea, Summit, Tharabar gate and other main hotels accept your Visa card. Jewellery shops, hotels shops (Pansea, Park Royal..) are also accepting the Visa credit card via the above procedure.

Please write to us if you find our information incomplete or incorrect to help other travellers. visamastaer@gmail.com, visa@mail4u.com.mm

1-Q

Frequently Asked Questions

What currency do you use in Myanmar? What is the current exchange rate for that currency against the US Dollar?

Ans:

The local currency used is called Kyat (pronounced “chat”, abbreviated as Ks). The currency exchange rate is around 1300 Kyats against the US Dollar (as at December, 2007).

2-Q

I understand that I have to exchange US$200 into FEC (Foreign Exchange Currency) upon arrival in Myanmar. Does this requirement still exist? I was also told that the FEC is worth about 25% less than the US Dollar when changed into Myanmar Kyat. Is this correct?

Ans:

No. The requirement to exchange the above specified amount upon arrival no longer exists. It is also not correct that the FEC is worth 25% less than the US Dollar. The FEC is officially equal to the US Dollar in value and so far has similar exchange rates (which sometimes slightly vary) to the local Kyat currency.

3-Q

During travel in Myanmar, can we be able to use our credit cards? If so, what types of credits are commonly accepted? If not, what types of currencies should we bring?

Ans:

Currently, credit cards are not generally accepted in Myanmar. We advise you to bring enough US Dollars for your travel, accommodation, shopping and dining expenses. Some travel agencies and hotels may accept but you have to check with them before you come.

4-Q

How much should I bring for within country travel?

Ans:

The amount of US Dollars you should bring will depend on your length of stay and which part of country you will be traveling. We advise that you consult with you travel agent with regards to this.

Please find here some indicators (excluding Hotel and Airfare, shopssping):

1.       Yangon Surrounds 3D4N 300 USD.

2.      Yangon Bago 4D3N 500 USD.

3.      Yangon Mandalay Bagan Inle 7D6N 1000 USD.