artyguy

Now that the US has a new $100 bill, I'm wondering if these new bills will be required or not accepted in Burma? Should I bring the previous $100 bill or only the new ones? I'm concern that the new bills won't be recognized and thus rejected.

MmePerdu

You won't be the first to bring them, certainly. I think crisp & uncreased is the issue. The people doing the exchanging and accepting are sophisticated regarding these bills and will accept the new ones, I have no doubt.

Silverswimmer

No problem whatsoever.Within a week of them being introduced there were posters of the design in the BdeC at airports and downtown.
SS

NoFlyZone

Had no trouble with them in June.

yestravel

We had both the new bills and the old ones and didn't have any trouble with either. As mentioned, be sure they are wrinkle free and no little bends or cuts/nicks. This was in Jan/Feb 2014.

Kathie

Believe me, they knew what the new bills would look like before we did!

artyguy

Thanks Kathie! Another question, as I'm getting close to my departure, I'm trying to determine how much cash to bring.

Probably will bring some kyat and baht for taxi and basic to get me started for the first few days. But then I will need to use ATM or the US dollars and convert.

Question: The difference of Bringing US dollars to a Myranmar Bank, I will be charged for changing to country currency. But using the ATM I will also be charged. Any thoughts on the better of the two.

I suspect no one wants to travel unnecessarily with lot's of US dollars unless they have to. What is your advice?

Bring US dollars and change currency or use the ATM machine for the county's currency? (with the card I have there will be no transfer fees).

Thanks

Kathie

Don't bother trying to get kyat - or baht before your trip. That is the most expensive way to get foreign currency. You can use an ATM at the airport in Bangkok or exchange some US dollars for baht.

There is no service charge for changing money at the Myanmar bank exchange windows. Just exchange some at the Yangon airport. You won't be able to get kyat outside of Myanmar as it is worthless elsewhere and is not an exchangeable currency. While getting money from an ATM is easy, exchanging $100 bills for kyat at bank exchange windows is the cheapest way to get kyat. In addition to what your bank charges you for the use of a foreign ATM (often $5 from the big banks) plus the exchange premium (usually 3%), the Myanmar ATM will charge you 5000 kyat (about US$5). Spend all of your kyat before you leave the country!

Only exchange money at official exchanges in Burma. You will get the best rate and no concerns about getting ripped off. Because in the past, it only made sense to change money on the black market (back in the day when the government insisted that the exchange rate was 4 or 5 kyat to the dollar when the real rate was far different) some people still try to exchange on the black market. Indian money changers may approach you - just say no. They often do double counting. There are bank exchanges at all of the airports and there are some in each city.

artyguy

That clears up getting foreign cash prior to my trip. Thank you.

My Debit card I will be using absorbs any foreign transaction fees. Yet I believe when I use the ATM, the fees are deducted from the cash I receive. So my bank at home won't be able to refund that. They will other fees.

With that in mind, maybe it's no longer necessary to bring thousands of super crisp US Dollars anymore. As keeping them perfectly pressed in my back pack will be a challenge in itself. My hotel and flights are paid for. So only need money for other costs. 18 days in Burma, any suggestions how much cash I should bring noting that ATM's are available now in all the cities. Guess common sense is what I'm after.

Kathie

Glad to hear you have a reasonable ATM card. My card refunds any fees charged by the local ATM (up to some max I've never hit). The amount the local ATM charges won't be deducted from the money the ATM gives you, but from your bank account, so your bank may well refund those to you.

As you know, there are two types of fees charged by your bank (or waived by your bank), the per use charge and the foreign exchange premium.

susiesan

Our arrival flight does not get into Yangon until 11:40pm. Will the bank exchange windows be open at that time of night? I plan to prepay the balance due for the Myanmar Shalom tour by credit card before leaving the US instead of having to carry thousands of dollars in hundreds. But I will still need to exchange some dollars for kyat.

When we arrived at Kota Kinabalu in May at around midnight all of the ATM's were shutdown for the night for computer maintenance. We had to exchange some dollars for ringitt at the hotel when we checked in to pay the taxi driver.

Kathie

I haven't arrived in Yangon that late. But I expect there will be exchange windows open. If not, you can pay for your taxi into the city in dollars and exchange money the next day. I don't know the current standard taxi rate into the city but last I was there it was US$10.

artyguy

What's the update in how much cash one needs to bring? If there are many ATM's and Banks, maybe the old thought of bringing thousands of US crisp cash is no longer true? My flight and hotels are paid for. 18 day travel, I can bring $1000 (maybe less) but hate to bring $3000 if cash is easier to get under the current situation. Advice?

MmePerdu

How much cash you need is such an individual question, it really is impossible to say. But it isn't as if it'll go bad if you bring too much. More is always better than less. You must have some experience with how much you spend traveling other places over 18 days, so bring that much and you'll be fine. Burma is not the cheap place it once was.

yestravel

ATMs were available in all the main tourist destinations. We used far less of the cash that we brought with us because we used the ATMs. Fairly high surcharge, but our card reimbursed us.

Kathie

Since your hotels and flights are paid for, I would think $1000 would be enough, especially knowing you can get cash from an ATM as needed. The most expensive items for you will be your guide in Kentung, boat and boatman at Inle ($25-60, depending on where you are going), Horsecart in Bagan ($20 a day or less). Meals are pretty cheap. What has increased in cost so dramatically is lodging, but yours has been paid.

artyguy

Thanks everyone for your amazing advice, and common sense! Totally Awesome!

artyguy

In what dominations can you all suggest I bring with me? Obviously $US 100 dollars will be way too much for museum fees and temple fees. I hear they expect US dollars not Kyat. Then how to keep all those crisp bills safe when not traveling with them? I suspect many hotels don't have room safes, at least not the ones I'm going to.

yestravel

We put bills in a small pencil box which worked great. Took 100 ones, but used very few. We tended to get money from ATMs and used very little of the USD we brought with us. Had no problem using $100's when we needed to. Also took a few $20's and $10's. I sort of stressed about the whole money thing, but it turned out to be a big non issue for us this past winter.
Enjoy your trip.

artyguy

LOL, yeah, I'm def stressing out on a lot of stuff. money included. It's the unknown that is stressful, and wanting to be sure you made all the right preparations, but of course there will be stuff you just can't foresee. Thanks