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International Remittance (TELEGRAPHIC TRANSFER/ TT)

A Bank’s international remittance services are quick and secure transfer of funds by using SWIFT system through the correspondent financial intermediaries to and from any part of the world and back to back.

Key advantages for customer are low cost, and faster and more secure within convenience time.

Methods of International Remittance

(1) Outward Remittance

(2) Inward Remittance

Outward Remittance

  • Making payment for Trade Services
  • Making payment for Non-trade Services

Charges and Commission for Outward Remittance

  • Up to USD 20,000.00 – USD 25.00
  • Above USD 20,000.00 – 0.125% on transaction amount (Minimum: USD 25.00)
  • SWIFT Charges – USD 2.00 per transaction
  • Cancellation, Amendment and any query – USD 12.00

Inward Remittance

  • Receiving payment for Trade Services
  • Receiving payment for Non-tradeServices

Major Requirements for Inward Remittance

  • A Bank SWIFT Code – AYFDMMMYXXX
  • Both parties A/C Number and Phone number
  • Both parties A/C Name and Address
  • Purpose of Remittance

Charges and Commission for Inward Remittance

    • For USD A/C – USD 10.00 per transaction and Equivalent – USD 10.00  for SGD and EURO Account
    • For MMK A/C – MMK 10,000 per transaction

    (for outside Yangon A/C – MMK 10,000 + standard transfer charges)

    Remark:

    • All these charges and commissions are collected in USD and any related currency will affect the equivalent amount in USD.
    • Any charges and commission of other currency transactions are converted to USD based on the rate determined by the bank.
    Ayeyarwaddy Farmers Development Bank (A bank)
    Correspondent Banks List
    No

    Bank Name

    SWIFT CODE Currency

    Country Name

    1. United Bank of India UTBIINBB USD, EUR India
    2. Oversea-Chinese Banking Corporation Ltd. OCBCSGSG USD, SGD Singapore
    3. Kasikorn Bank Public Company Ltd. KASITHBK USD, EUR, THB Thailand
    4. Malayan Banking Berhad MBBEMMMY

    USD

    Myanmar
    5. Kanbawza Bank KBZBMMMY USD Myanmar
    6. Ayeyarwaddy Bank AYABMMMY USD, EUR Myanmar
    7. Co-operative Bank Limited CPOBMMMY USD Myanmar
    8. Yoma Bank Limited YOMAMMMY USD Myanmar
    9. Asia Green Development Bank Limited AGDBMMMY USD Myanmar
    10. Shwe Bank SRUDMMMY USD Myanmar
    11. United Amara Bank UABMMMMY USD Myanmar
    12. ShinHan Bank SHBKMMMY USD Myanmar
     Standing with you Business Banking
    CURRENT ACCOUNT

    Suitable for companies, business, organization and enterpreneurs.

    SAVINGS DEPOSIT ACCOUNT

    An annual interest rate of 8.7 % is offered.

    FIXED DEPOSIT ACCOUNT

    10 % interest for 1year deposit.

    CALL DEPOSIT ACCOUNT

    An annual interest rate of 6% per annum for 10 million MMK and above and 4% per annum for 10 million MMK under

    LOANS

    Overdraft Agricultural / Livestock breeding loans, Hire / Purchase Medium-term/Long-term loans and Project loans.

    SAFE DEPOSIT

    Gold and silver wares and important documents can be kept in our lockers.

    INTERNAL REMITTANCE

    We can offer a more convenient and faster remittance to owns were there are their branch banks.

    Payment Order

    Commission is collected pyas 10 for K 100, and the commission ranges from K 100 to K 30,000.