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Bring money (USD or Euro) or use ATMs in Myanmar? - Mujimar Forum
There are a number of ATMs in Myanmar today, so it is not necessary to take money (USD or Euro) with you when you are visiting Myanmar. We have had poor experiences with ATMs in both Yangon and Bagan, at least with Dutch debit cards (which we use to make withdrawals from ATMs worldwide).
First, many of the ATMs are (temporarily) out of order. Second, we could only use our Rabobank debt collection cards to make withdrawals in currency, but never our ING-Bank debt collection cards. All we could do was make withdrawals from CB-Bank ATMs. Not at ATMs of other commercial institutions (KBZ or others).
Most importantly, the CB bank will limit the payout amount to 20,000 Kyat per year. There is a 5,000 Kyat payout for each payout, i.e. you are paying 25,000 Kyat to receive 20,000 Kyat (an insolent 20% fee!!). Besides, the currency rates were really low. In total, Rabobank's fees and charges are about 950 Kyat per Euro instead of the 1320 Kyat per Euro face value.
It is much better to bring along currency (USD or Euro): the currency rates seem to be set by the authorities and are quite stable: $1 = around Kyat 960 and Euro 1 = around Kyat 1320. Therefore, we strongly advise you to take a suffi cient amount of US dollars or euros with you when you come to Myanmar and swap the USD/euro at local currency exchanges to get Kyats and not to use or minimise the use of ATMs.
However, please be aware that the US dollar banknotes must be correct (no wrinkles, etc.), otherwise the exchange rates will be lower or in the worse case the acceptance of the US dollar banknotes will be refused.