Need to transfer money to Myanmar? Considering a wire to transfer the money to Myanmar? Before you ask your financial institution to do it, make sure you check the wire transfer fees. You might get a shock just what the fees will be and depending on the dollar amount, it might be better to have a look at the alternatives to forward the money by other means.
What can make it even worse is in addition to your financial institution charging a fee for sending the money to a place in Myanmar, the person receiving the funds may also be charged a fee from the bank where they have their account. One way to reduce the likelihood of the charge is to remit the international wire transfer in the currency of their bank account.
To make a bank wire transfer to Myanmar, you might need a SWIFT code. These are different codes for each financial institution and based on a number of things including the country and individual bank.
Bank wire details for Myanmar
- Country – Myanmar
- SWIFT Country Code – MM
- Central Bank Name – Central Bank of Myanmar
- Currency – Kyat
- Currency Code – MMK