Hello,

For those of you who've booked and done the trip to Mynamar independently, how much of a hassle was it to make sure you have enough U.S. dollars to cover the entire length of your trip and that each dollar bill was in pristine condition?

I'm thinking about going there for two weeks at the end of November, but I'm not sure I want to deal with the money situation; It seems like a hassle. What happen if you run out of cash before the end of the trip? Can you use debit or credit card in the major cities in emergency situation?

Thanks
Alex

I had trouble getting the crisp bills fromm my banks. Finally suceeded. As it turned out we used ATMs mostly in Myanmar so we came home with most of the $ we took. In the main tourists areas (Bagan, Inle Lake, Yangon, etc) ATMs were readily available & working fine. A couple hotels had signs they took credit cards. We had not trouble with money during our 3 weeks there. This was in 2014.

As yestravel says, there are now ATMs which dispense kyat. There is a charge for using the ATM - works out to about $5 per use. And hotels will often take credit cards, but at a premium - 3.5% was what I was quoted recently (I'm off to Burma again in November). It used to be that one of the hotels in Yangon (The Park Royal) would give you cash from your credit card for about a 10% charge - I don't know how that may have changed in the last couple of years.

Things are SO much easier in terms of the money situation than they were just a few years ago. Don't let your worries about crisp bills keep you from going. We will stock up on some crisp bills before we go, but it isn't like the old days where you needed to have the cost of your whole trip in new bills!

I did a full analysis recently and linked it as a FAQ on TA,repeated here,hope you find it useful:-

"KYATS/US$/ATM'S/CREDIT CARDS IN MYANMAR

Much information on the internet is well out of date and it is now appropriate to state as accurately as possible the up to date facts gleaned, from not only my own personal experiences, but from many other regulars, both tourists and local contributors.

CURRENCY

KYAT (pronounced Chat) Is the Myanmar currency.

Most tourist hotels are priced and payable in $ although guest houses and smaller hotels still are payable in kyat. Many restaurants are now priced in kyat although high end establishments still price in US$. It is always best to pay in the currency displayed to save losing out on exchange rate.

You will be spoiled for choice of Bank exchanges at airport Arrivals and they all have virtually identical exchange rates. Do note that you can change your unused kyat back into $ at Departures at a minimal (20 kyat?) difference between buying and selling rate. Kyat are NOT an International convertible currency and it is most unlikely that they can be exchanged outside Myanmar, although you might be able to dispose of them at Bangkok airport departures or try to move them on to future travellers from your own country.

The current approximate rates are as follows $ 1250 kyat, € 1400 kyat, SGD 880 and updated rates can be found with this link

https://www.kbzbank.com/

Other currencies may possibly be exchanged (£, AUS$, THB) but the number of Banks that will exchange them is very limited and the rate therefore could be quite poor unless you are willing to spend time shopping around. Branches of Farmers Bank change AUS$. Recently only one of the 9 Banks at Yangon arrivals would change THB-at a very poor rate.

Visitors will generally use these notes in kyat -500/1000/5000/10,000

For pictures of the notes see here

http://www.banknotes.com/mm.htm

Sometimes if you pay shopkeepers/taxis in $ you will be given change in small grubby kyat which you will want to pass on quickly.

NEVER CHANGE MONEY IN THE STREET-ALWAYS USE A BANK OR OFFICIAL MONEY CHANGER

US$

Still the currency of choice for Airlines, Travel Agents, Guides, top hotels and restaurants and for some entrance fees.

It is essential that bills are in first class, pristine condition, with no folds, rips or writing. New is best and keep them flat, maybe between two pieces of card. 100's and 50's will get the best exchange rate so use lower denominations for paying hotels and restaurants- again condition is important.

All $ bills must not be older than the 2006 issue but any later than that, in perfect condition, will be fine as well as the latest issue from August 2013. The $ is still king and taxis, guides and restaurants will still accept them if you are short of kyat.

ATM's

There are now over 2000 ATM's in Myanmar with a choice at major airports and widespread availability at downtown Banks. They only dispense kyat. Do note that there is a fixed charge of 5000kyat,plus your own Bank's charge and a maximum withdrawal of 300,000kyat,up to three times daily.

Many smaller villages and towns have yet to get an ATM but those that have a Bank branch in town will either have one or get one soon. For example Sittwe has only one ATM and until recently there were none at Ngapali Beach but there is now an ATM (KBZ Bank) outside Amata Hotel.

There have been reports that Banks in some counties still follow the outdated US embargo so do check with your Bank that your card will be accepted.

CREDIT CARDS

Are accepted by airlines, four of which are bookable on-line with immediate e-ticket issue.

Many quality hotels, especially used by business and group tours, will accept Credit Cards, although some may charge a merchant fee. Conversely many tourist hotels and Guest houses will not take credit cards. Many Irrawaddy cruise boats state that Credit Cards are not accepted but there are reports that when passengers say that is all they have got, having spent all their kyat and $, a card machine miraculously appears.

PAYING AGENTS FROM ABROAD

Because of high Credit Card merchant fees (up to 5%) many Agents prefer payment of deposits by Bank payment with the balance in $ on arrival in Myanmar. THIS IS PERFECTLY NORMAL.

Because of US Restrictions the Myanmar Banks are not yet on the International Bank transfer system so many Myanmar companies have accounts in Singapore or Bangkok to where Bank transfers can be made. It is the same with the International Irrawaddy Cruise companies.

Things are changing fast, money can already be transferred by Western Union, and the Myanmar Banking system will eventually be connected Internationally and KBZ Bank and CB Bank are currently trailing to get it working.

hope this helps,updates will hopefully follow as things change.

SS

Thanks everyone for the useful information.

Thanks SS, for this very complete summary.

I recently paid my agent in Myanmar and found that Western Union was less expensive than a bank transfer and it was so much faster - they reported they had received my payment in less than 24 hours.

I too had issues finding brand new pristine bills- kept having to hand them back to tellers at the bank. Then- lightbulb- went to the bank in the nicest part of down and voila no issue at all- brand new 100's.

I don't remember using my credit card often- I did buy a lotus silk scarf with it at Inle and used it for a large purchase at a laquer shop in Bagan- but I believe that is it.

ATMs are everywhere, no need to worry!

Enjoy your trip!

Thanks everyone. I just got back from my 2 weeks stay in Myanmar.

I had no issue using the ATM in Yangon to load up on Kyats; I had enough to last me through Yangon, Bagan, and Taungyyi.

I had a bit of an issue with the ATM machines in Nyaungshwe. One was not working the day that I wanted to use it. The other one that I attempted to use, when I hit the 'English' option that appeared on the screen nothing happened. I repeated it several times with no result. I assumed it was a touch screen since I didn't see anywhere else for me to select the 'English' option. I was glad that I had some US cash on me while in Nyangshwe and was able to go to a money exchange for some needed kyats.

If you buy plane tickets while there I think US dollars are expected as payment.

Can anyone comment on availability of ATMs in Mawlamyine and Hpa An?
Thanks!

There are now ATMs,Visa/MC, but better to have small denomination clean US$

ATMs in Myanmar: The strand and a few other places in the centre of town, but have lots of clean US$ cash.

Maree, where is the strand (is that what we Yanks call the beach?) are you talking about Mawlamyine? If so, did you find any problem with ATMs there not working, or out of cash?
Thanks for info.

Lisa, the Strand that Maree refers to is a hotel in Yangon. But it doesn't sound like you are going to Yangon - or at least not at the beginning of your trip.

We were in Myanmar in November. Being "old hands" there we brought along US $100 bills to exchange just in case. We ended up not needing any more kyat than our (brand new) $100s bought us, so we didn't even use an ATM while there. We were in a different part of the country, so our experience is not predictive of what you will find in Mawlamyine. If you are at all nervous about it, do bring some exchangeable cash - you will find bank exchanges more easily than ATMs still.

Actually, we will be in Yangon before the other towns, but will bring enough beautiful clean dollars to cover all bases. All this info is great, much appreciated.

Please come back and tell us about your trip.

In Yangon you will find both ATMs and bank exchanges in the downtown area. Ask - people will be glad to give you directions.

I will, for sure! We went to Vietnam in March and I really discovered travel forums then - loved "meeting" people virtually, and mashing our emails to our kids and sibs into a trip report - it's been so helpful and fun to read everyone else's. It also made the whole experience last longer than the few weeks we were actually there. Now we're trying to organize Myanmar/Laos.