Foreign Currency Account (Current Account)
This account type is particularly suitable for companies, business organizations and entrepreneurs because the account type allows the usage of cheques. Cash can be credited to the current account. Payment can be made by cheques and collection of money can be made in cheques.
Accounts can be opened either individually or jointly by two or more people or in groups such as limited companies, solely owned companies, partnerships / joint ventures, co-operatives, social and religious associations and other clubs, trust accounts, local organizations and government organizations. Accounts can be opened under three currencies: – USD/EURO/SGD with an initial deposit of 100 (USD/EURO/SGD). The minimum balance is 10 (USD/EURO/SGD). All the holders of current accounts are issued with cheque books. Account holder can use either bearer cheques or ordered cheques.
Withdrawal and Deposit
-You can deposit unlimited amount in the account. (Need to show source of income if deposit amount is over 10,000 USD)
-You can withdraw an amount of 5000 (USD) maximum per cheque (twice a week).
(This can be changed depending on the orders/terms of the Central Bank Myanmar)
Sending monthly bank statements
Bank statements mentioning the deposit and withdrawal will be monthly sent at the beginning of a month to the current account holders. Bank balance acknowledgement certificate will be issued to the account holder(s) only upon request.
- You can open foreign currency account at Shwe Gone Dine Branch only *