Foreign Currency Exchange Service

Shwe Bank offers Foreign Currency Exchange Service to our customers to and from designated Foreign Currencies(USD, EUR, SGD and THB) against Myanmar Kyat.

Foreign Currency Account Opening

Customers can open the following foreign currency accounts –

• US Dollar
• Euro
• Singapore Dollar

The purpose of Foreign Current Account is to prevent customers’ foreign currencies from the loss cause by exchange rate difference and also helps customers to make foreign commercial payments. Foreign currency accounts are non-interest-bearings.

Advantages

• Can save money securely.
• Customers can make payments by using cheque.
• Can perform remittances, guarantees, letter of credit and all kind of services that are dealing with foreign currency.

Requirement :

For individual and joint customers

• Application form
• Passport / visa / NRC (Copy)
• Foreign exchange declaration form

For Corporate Customers

• Application form
• Company registration form
• Memorandum of association (MOA)
• From VI,XXVI, E
• Corporate resolution
• Foreign exchange declaration form
• Passport / visa / NRC (copy)

Initial deposit  :                                           100 (USD/SGD/EUR)

Deposit commission   :                            Free charge on Initial Deposit 100 (USD,EUR,SGD) and 0.3% charges on subsequent deposits.

A/C close minimum balance  :            5 (USD,EUR,SGD) for Individual & Joint customers, 10 (USD,EUR,SGD) for Corporate customers.

Trade Services

Export Documentary Letter of Credit

An export documentary letter of credit is a document whereby buyer instructs their bank to pay the seller, assuming that the agreed conditions specified in the original documentary credit are met.

• Advising Export Letter of Credit
• Export Bill Collection
• Export Bill Purchase and Discounting
• Pre-shipment Financing
• Post-shipment Financing
• Pledge and Hypothecation

Import Letter of Credit

Shwe Bank offers Import letter of Credit, Import bill under LC and Import bill under collection to customers.

Telegraphic Transfer

On the purpose of Trade or Non-Trade telegraphic transfers can be made at Shwe Bank with required documents to your partners, friends and other entities around the world through SWIFT system.

Bank Guarantee

Bank guarantees are used for common commercial or statutory requirements by customers. Shwe Bank can offer –

• Shipping Guarantee
• Bid Bond Guarantee
• Performance Guarantee