Yuan – Kyat Border Trade Payment Service
All Myanmar businesses taking part in Myanmar – China Border Trade can now get Yuan – Kyat Border Trade Payment Service at Yoma Bank Yangon Main Branch and Yoma Bank Muse Branch.
The services provided by Yoma Bank are as follows:
- Foreign Currency (Chinese Yuan) account
- Foreign Currency (Chinese Yuan) chequebook
- Inward/Outward Remittance between any Chinese banks and Yoma Bank’s Foreign Currency (Chinese Yuan) account via Telegraphic Transfer (TT)
- Letter of Credit (LC), Document of Acceptance (DA) and Document Against Payment (DP) services (Border Trade only)
- Direct transfer between Yoma Bank Foreign Currency (Chinese Yuan) accounts
- MMK cash withdrawal based on daily exchange rates
Features and Benefits
- MMK Cash Withdrawal Charges – None
- Yoma Certified Chequebook – Make easy withdrawals or direct payments without the need for physical cash
- Monthly Statements – Receive official statements of your day-to-day banking activities
- Account to Account Transfer Charges between Yoma Bank Foreign Currency (Chinese Yuan) Accounts – 30 Yuan (No maximum/minimum transfer limit)
- Service available at Yoma Bank Yangon Main Branch and Yoma Bank Muse Branch
Requirements
For Business Customers
- NRC/Passport of Authorized Person
- Visa Page (Valid Business Visa)
- Application Letter (Company Letter Head with MD/Chairman Signature and Stamp)
- Initial Deposit Limitation Amount
- Import / Export License (If Import/Export Company)
- Board of Director’s Meeting Minutes & Meeting Resolution (Company Letter Head with the signatures of more than 75% of persons from DICA’s List)
- Certification of Incorporation
- Memorandum of Association (MOA) / Articles of Association (AOA)
- Myanmar Traders Membership (if needed)
- Official Transfer of Authority to the Agent, Invoice and Sales Contract (if with Agent)
- Account Opening Charges – MMK 10,000
- Initial Deposit Amount (Currently waived)
Remark: Currently, Yuan – Kyat Border Trade Payment Services are only available to Business Customers doing businesses on Myanmar - China Border Trade.
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