Money in Burma (ATMs, Cash Advances, etc.)

Okay, what to bring in terms of cash and cash instruments to Burma? I'm sure they have working ATMs in Yangoon, yes? But I hear outside of Yangoon there isn't much. If you run low on cash out there, what do you do? Get a cash advance from somewhere? What are the rates?

About how much cash should one bring? $500 for a week? Thanks for all the info and tips on handling, getting cash out in Burma.

Please trust me and write down what I can tell you. There are NO Atm's anywhere in Myanmar. DO NOT run out of cash which should be very good quality American Dollars. The only way you can get a cash advance is at either the Sedona Hotel or the Park Royal hotel, which will sling you $100 per night including breakfast. They will only give you what they can either $100 or $200 and the interest rate is about 18%.
I am not sure how much you will need, because I am not sure how you travel. But please remember have Cash Dollars. I speak from experience.

Wow, that's pretty heavy! NO ATMs in Myanmar? How do people get cash for extended trips?

How much should I bring per week, if I stay at mid-range places for $35 / night?

Do people walk around with bundles of USD when they first arrive?

Sounds implausible. There has to be an ATM somewhere ...

Maybe a cheap cash advance place ... like in Cambodia ...

Ever heard of international sanctions? Due to the connection that all credit card providers (and their associated debit card affiliates) have with the USA, none of them are permitted by USA law to operate within Burma. The large hotels get away with it by completing the transactions (usually) through Singapore - hence the big cost.

Take cash - and lots of it.

I was there in August and I ran out of money, I had to stay in the swanky Park Royal to get enough for two of us to fly from Yangong.
Don't be lured into a false security on seeing ATM's every few metres in Bangkok.
Like I said trust me, I speak from recent experience.
Up until 2 weeks before I got there, there was a few laquerware places around Bagan that would give you cash advance if you bought something, but that was stopped.

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<hr>There has to be an ATM somewhere<hr></blockquote>
Yes, plenty.. just not in Myanmar.... not even one... at least not connected to the outside world.
#1 is absolutely correct.... Cash advance on your credit card will be charged at anything from 7 % to 30% fee and only available at a couple of upmarket hotels. Bring USD cash. New notes only.

I will be so paranoid next time that I go, that I will take a lot more money than I need.

I think Mose could whip me up some knitted money bags to stitch into my clothes.

Sure trip... also crochet some mean hundred dollar notes.. next time you are short.. just send the usual smoke signal.... dit-dit-dit-dah-dah-dah-dit-dit-dit followed by your global position and the number of notes you require.

Life without an ATM "Wow thats pretty heavy " No it isnt...

No, people don't walk around with "bundles" of US dollars. US dollars in large denominations don't take up much room. Be sure your Dollars are in good shape since it's hard to change ones that are worn. Don't change any money at the airport as it's the official rate and much lower. Change at the Scott market at one of the many jewelry shops or Hotes/ Guesthouses. I've been to Myanmar 11 times and never had a short change problem. I don't even bother to count my Kyats when I get them. It is considered rude to count your change anyway just like Japan. You won't find more honest people anywhere in the world. That honesty and friendly smile are just some of the attractions of the Burmese people. $100 notes are best, but you will need smaller ones as well. Like $20 notes and smaller. Away from Yangon you really need some smaller bills for train tickets etc.

Some of you posting on this topic say to bring "new" $100 USD notes, and some say to bring notes in good condition. Will both be accepted?

Secondly, I have gone into a few U.S. banks and none of them (in Florida) had "new" $100 USD notes, only those in "good" condition. Where do you go to get brand new $100 USD notes?

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<hr>Sounds implausible. There has to be an ATM somewhere ...<hr></blockquote>

Welcome to Myanmar. :)

Strictly speaking, there are a handful of ATMs in Yangon, but they're only for the locals to use. As has already been stated, foreign sanctions render plastic virtually useless.

#11...
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<hr>"new" $100 USD notes, only those in "good" condition.<hr></blockquote>
As long as they don't have any tears, ink-stains, biro-marks or creases, they are acceptable. I'm surpriced to read that you can't get new notes in the US, as I've always been able to find them in Australia?
$100.00 notes with a "CB" serial number are not aceptable.. but the notes don't need to be new... "As New" condition is fine.... Remember that new or as new notes gives you a better rate of exchange and guarantees you that you have useable currency.. anything less.. and you may have a problem.

I get my US dollars from a money exchange in town, I ring and order them a day before, by now the people there know what I require, good clean notes with no CB prefix. Must order some today as the US $ is sitting on 93. Unbelievable really, when we went to Vietnam in 2000 the dollar was 50cents.

Have you tried the "Nationwide" currency exchange, trip?... Their rate tends t be a little better than the Banks.. and they don't charge commission.

nationwidefx

Guess you didn't like the idea of my crochet offer, Trip?... I was even going to tatt your monogram "TM" on them for you:-)

I think the OP is in for a some surprises is his travels, if you read his posting history.

Yes Mose, I love the idea, lots of little crocheted bags with TM on them especially, I could just cover my entire body in them and no one would know how cashed up I am. Going to look at that site in a sec thanks.
And solo, I knew there was no ATM's in Myanmar, but I didn't take heed. With all the hustle and bustle of Bangkok and my just busting at the seams to get to Myanmar it all just slipped my funny ol mind.

Minglaba, you can and SHOULD count your money when you get change. The Myanmar people are very honest, I agree. But Myanmar people will always count their money. If you are with a local, he or she will insist that you count it.

I have to say that I find it a little surprising that someone could even venture into this wee corner of the WWW and not realize that there are no ATM's in Myanmar. Weird.

I am weird but that wasn't one of my weird moments, I just didn't take heed.

Trips - You weren't the one that asked this. Did you ask the same question at some point in your past life?

I was a dog in past life, so I had no use for money.
So no I didn't ask. It just pisses me off that I made a huge mistake and didn't spend as much time in Myanmar, but luckily, I have learned and will return shortly armed with lots of monogramed crocheted purses strapped to my body.

I have registered all the factors relating to "Condition" of the $100 bills....BUT would someone please comment about the "FOLDS" issue of the bills...as I fold mine in 'Thirds' lengthwise to hide in my security belt. They are bills in excellent condition...but they will have slight creases on them when I attempt to exchange them-even after I flatten them out real good. Will this be a problem???

#24... If the "folds" show any sign of what I would call "wear"... then it’s a problem.
Notes that have folds which can be straightened are acceptable. But if they look as if they are worn, dirty or smudged, they are unlikely to want them, or if they do, they will offer you a lower rate. The best way to keep notes in good condition is to wrap them flat in a zip lock bag. Perhaps keep them in your passport or hide them in a book.

#25 Thanks for your observational comment.

I must now call upon my most astute art restorer friends to opine upon the quality of new bills after being folded and then straightened...two fine creases,flattened out,no soil or dirt marks on the creases or the bills in total and of course no other marks.

This might be a tall order for my high quality printer!

I can only add that it is disconcerting to have to carry all your cash with you, but as mentioned above, there are some backstops to get a cash advance if needed. Also, it is good to know for such a poor country, theft is very low.
cheers, joy

joy, welcome back! haven't seen you around here for ages!

Joy-

Where have you been?

#27-
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<hr>there are some backstops to get a cash advance if needed<hr></blockquote>
Please take into consideration that the recently imposed banking boycotts in Singapore where most of these transactions are hosted, may at least in the near future make this option either more limited, totally impossible or even more expensive that it was before. I would think that it is now even more imperative to bring cash.

Some of the options we were told about had all stopped doing this just 2 weeks prior to us being there and that was in August. I won't be chancing any backstops myself, especially now.

Take all your money in US Dollar cash!
New notes without any sign of use (no tears, no scratches, no marks, and no one starting with serial number CB)
Take notes in 100 $ but also a lot of smaller notes 20$, 10$ and 5$ you will need the smaller ones to pay entrance fees to padogas, museum, national parks.
Expect to pay the hotels in dollars only, airflights in dollars, taxis in dollars or Kyats, buses in Kyats, boats in dollars, food at restaurants in kyats.
Think carefully how much you need in local currency before leaving Yangon and go to the market and exchange the needed amount, lower exchange rates outside Yangon.
If you are travelling to the west coast take a lot of small dollar notes and not so much local currency. Hotels demand paying them in dollars only, but they can't provide exchange for a 100 $, 50$ or even 20$ note.
If you exchange for example 200 US dollars you will receive 256 000 Kyats (exchange rate 1280 Kyats / $ end of July 2007). Kyats are in 1000 notes big, bulky notes on about the following size 6 inch X 4 inch the thickness will be something like 3 to 4 inches for 256 000 kyats, which is not so easy to take care of.