Chao Lao Beach Posted August 31, 2014 Share Posted August 31, 2014 It is possible to open a local savings account on a tourist visa? Anyone know ? Link to comment Share on other sites More sharing options...
SeaVisionBurma Posted August 31, 2014 Share Posted August 31, 2014 Good question, I'll try and find out for you Link to comment Share on other sites More sharing options...
Chao Lao Beach Posted August 31, 2014 Author Share Posted August 31, 2014 I expect that the official answer is NO, but that is the case in many countries that it is easy to open, if you know the right way. Link to comment Share on other sites More sharing options...
DagonKhan Posted August 31, 2014 Share Posted August 31, 2014 As far as I recall, no interest is payable on accounts opened by foreigners, I don't think you'll be allowed to open a "savings" account, only a current/clearing account. What the current requirements are to open one, I really don't know as I'm not up to date on the matter. I have an old a/c with MFTB that I opened many moons ago, I don't use it and I honestly can't remember what I had to do to open it (it was a US$ a/c). I would have thought that if you tried one of the private banks you might get more mileage than the MFTB/MICB/Myawaddy banks. One thing you should consider if you're a U.S. citizen is whether or not the bank you want to do business with is affected by U.S. sanctions, that may well narrow the list down for you, I believe they've only cleared 4 banks or so, most are still sanctioned. This is a link to one of the biggest private banks here in Myanmar, I am in no way endorsing them, but I am reliably informed that they are 'good':- http://www.kbzbank.com/ (site is currently showing as being under maintenance as I type this). Link to comment Share on other sites More sharing options...
Jimbo Posted August 31, 2014 Share Posted August 31, 2014 (edited) i have accounts in my name earning interest so the info above is not correct Edited August 31, 2014 by Jimbo Link to comment Share on other sites More sharing options...
DagonKhan Posted August 31, 2014 Share Posted August 31, 2014 i have accounts in my name earning interest so the info above is not correct Who do you bank with? He also wants to know what's involved with opening an account, maybe you can help with that? Link to comment Share on other sites More sharing options...
Jimbo Posted August 31, 2014 Share Posted August 31, 2014 siam commercial bank. i opened an account there whilst having a 30 day visa excempt. it differs from branch to branch. also opened account with kassikorn without a visa. Link to comment Share on other sites More sharing options...
Jimbo Posted August 31, 2014 Share Posted August 31, 2014 sorry i just noticed that this wasnt about thai accounts. sorry Link to comment Share on other sites More sharing options...
SeaVisionBurma Posted August 31, 2014 Share Posted August 31, 2014 OP is asking about opening accounts in Myanmar - not Thailand Link to comment Share on other sites More sharing options...
DagonKhan Posted August 31, 2014 Share Posted August 31, 2014 (edited) sorry i just noticed that this wasnt about thai accounts. sorry No problem! http://www.irrawaddy.org/economy/foreigners-to-get-daily-access-to-accounts.html <<<Old news story, mentions no interest on a/c's held by foreigners. Another local banks website:- http://www.cbbank.com.mm/ I see on this page, concerning Personal savings accounts (i.e. pays interest) it specifically states "Currently, only Myanmar Nationals are eligible to open Interest bearing account". On one of their flyers (available from their website), it outlines their requirements as far as opening a foreign currency a/c is concerned, thatmay be of interest to you. Another local bank:- http://en.agdbank.com/ Edited August 31, 2014 by DagonKhan Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now