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How to deal with money

How to deal with money in Myanmar

Money:  US Dollar is widely accepted throughout Myanmar and is easily to exchange with local Kyat currency. It is easy to exchange both Euros and Singapore dollars at bank and airport in Yangon and Mandalay. Although the Myanmar government has recently told the banks to accept more than just pristine of foreign currency, bills that are not perfect may still be rejected or exchanged at a lower rate and very difficult to use in the market. Also USD notes $100 bills must be with new security features. Therefore, the money you plan to use into Myanmar in cash with pristine or immaculate, and use your Visa / MasterCard as a backup can be much helpful.

ATM:  ATM’s are widespread in all major towns however, there’s a transaction fee of USD 3-5 per ATM withdrawal on international cards. There is no guarantee of a 100% ATM success rate and sometimes they are not very reliable due to power shortages. So, carry cash while visiting smaller areas can be a good option so far.

Credit Cards:  Credit cards are accepted in several high end hostels and restaurants in major cities. However, you shouldn’t rely on credit cards as most restaurants, shops or even hotels either do not accept credit cards or have trouble to establish the connection. Therefore, it leaves tourists no choice to bring enough cash with them to travel to Myanmar.

Pay online or wire the money:   You could book and pay online or get a travel agency to book it for you and wire the money to them. In that way, you will not have to bring so much cash with you while travelling.

Traveller cheque:   Traveller cheques are not popular at all in Myanmar.