The capital of Myanmar, Yangon, is the city with the largest number of ATMs. The most important cities in Myanmar (Yangon and Mandalay) have an extensive network of ATMs, however there are no ATMs in the smaller towns (Bagan, Kalaw, Inle Lake). All international airports in Myanmar have ATMs and money exchange offices.
To withdraw money from ATM in Myanmar, your home credit card will be charged for around 3 % commission or around K5000 for each withdrawal you make with your credit card. However, you are able to only withdraw Kyat as ATM’s in Burma are not dispensing USD. You can also rely on withdrawing money from ATM’s in Mandalay or Inle Lake and Bagan. The best place to withdraw money would be at Yangon Airport and upon arrival. So, if you plan on venturing somewhere off the beaten track, it’s best to withdraw money beforehand to be able to pay for your trip. In addition, you might not find ATMs in rural areas and on some of the lesser-known islands. The best practice is to carry some USD in cash and change them when landed. However, as explained above, do not solely rely on ATM machines as they might be out of service when you need them. You’ll find them at banks, on shopping malls and in some of the big luxury hotels as well as in airports. ATM’s are widely available throughout Myanmar and are extremely common in most major cities and towns. ATMs in Myanmar are marked with the initials ATM. In November 2012, the first ATM was installed in Myanmar and in the city of Yangon, and since then the ATM network has grown dramatically. Locals like to unload slightly torn $5 bills that work fine in New York, but will be meaningless for the rest of your trip. Also, when paying for rooms and services in US dollars, check your change carefully. Considering the relative safety from theft, it’s not a bad idea, but you can exchange money elsewhere. Many travellers do the bulk of their exchanging in Yangon, where you can get about K100 more per dollar than elsewhere, then carry the stacks of kyat for a couple of weeks around the country. We heard from some travellers that Yangon moneychangers have asked for a ‘commission’.
Often you’ll find one or two (or more) with a cut corner or taped together, neither of which anyone will accept. It’s a good idea to check each note individually. Moneychangers give ready-made, rubber-banded stacks of a hundred K1000 bills. Honest moneychangers will expect you do this.
And, do not rely on ATM’s specially if you are heading to small cities and remote areas, in addition, make sure your credit card from the issued bank work in Myanmar.Ī great tip over changing money in Myanmar is that never hand over your money until you’ve received the kyat and counted them carefully. Black market money changers such as gold shops are prolific on the streets of major tourist hubs, but generally give a much worse price for Kyat. US dollars can be changed at Yangon airport, banks (which give the best exchange rates) and some hotels (which charge more but can be handy at a pinch). The US banknotes you carry should be unmarked and in excellent condition, as money changers are reluctant to deal with damaged notes. ATMs are pretty much everywhere across Myanmar with defined withdrawal fee of K5000, the ATM’s dispenses up to k300,000 per transaction. Travellers should ensure they arrive in Myanmar with their entire travel budget in US dollars, or other major currencies such as British pound, Canadian dollar, AUD. Myanmar national currency is Burmese Kyat (pronounced chat, and abbreviated K) is divided into the following banknotes: K100, K50, K500, K5000, K5, K20, K200, K1000 and K10000.
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