MoneyGram International, Inc. has tied up with Asia Green Development (AGD) bank to facilitate international money-transfer in Myanmar. US based MoneyGram is a leading global money transfer company providing services in 79 countries.
According to AGD bank Chairman Than Yi, Myanmar customers can now receive money from around the world at AGD bank branches.
In addition, Myanmar citizens living abroad will be able to transfer money to their families in Myanmar. Foreign expatriates and tourists in Myanmar can also avail these services and receive money from anywhere in the world.
The service will be available from August 27 onwards at 30 AGD bank branches and 17 foreign currency exchange centers.
“The maximum amount of transfer is USD10000, and transfer fees will be charged from the sender”, said Than Yi.
Ye Min Oo, the Managing Director of AGD bank said, “For instance, if a foreigner visiting Myanmar during the SEA Games become broke, he can get someone from his home country to transfer money to him and receive the money in Myanmar. So from now on foreigners will not have to carry a lot of cash.”
The receiver in Myanmar will need details of the amount transferred, reference number and provide their National Identity Card or passport as identity proof. The money-transfer process takes only ten minutes.