The following Terms and Conditions are purposed for all SHWE Bank Internet/ Mobile banking Individual users and corporate users. These are governed by SHWE Rural and Urban Development Bank and applies to the use of Internet Banking, Mobile Banking service and Transactions using. These Terms and Conditions will be valid until it is replaced by another one or terminated by either party or account is closed.
1. Log on credentials
SHWE Bank identifies the unique credentials; User Name and Password for each user (Individual or Corporate) when you apply for iBanking and mBanking at SHWE Bank branches or through Self-registration. You can change the bank’s provided User Name and Password anytime. You can initiate with this User Name and Password all financial transactions and non-financial activities. So, it is important to not share your credentials to anyone, do not note down on any paper, do not keep notation on your phone or computer, do not leave your phone or computer on before logging out of your user account after using the ibanking or mBanking services. Any internet browsers or Mobile Application will not store your User Name and Password.
SHWE Bank will never ask users for their User’s Password because the bank employees do not need the User’s Password for any reason. You do not need to provide the Log on credentials to anyone. If you do, you will take full responsibility for any fraud cases from financial transactions.
2. Password Requirements
The password length must be 8 to 20. The password age is 90 days, so you have to change your old password regularly to a new password every 90 days and you need to be aware that you can’t change into the same previous password.
You can set your log in password with the following requirements.
Password must meet the following complexity requirements,
3. Available Services
You can do the following activities by using iBanking and mBanking;
Financial Activities
Non-financial Activities
“Definitions”
Own Account Transfer: You can transfer between your own SHWE Bank accounts from time to time.
Internal Account Transfer: You can transfer to any other SHWE Bank accounts from time to time.
Schedule Transfer: You can define the payment or transfer date and time that you want for Own Account transfer or Internal Account transfer.
Bulk Transfer: Only Corporate ibanking users can access the batch transfer for using the payroll service or multi transfer.
Mobile Top up: You can top up balance to any operators from time to time.
Skynet Bill Payment: You can select and pay for the Skynet Bill payment package of your choice from time to time.
Mahar Net Bill Payment: You can make the payment for the Mahar Net bill periodically.
Electricity Bill Payment: You can pay the monthly electricity bill for the Yangon, Mandalay, Bago, Pyay, and Naypyitaw regions.
Interbank Transfer (RTGS): You can transfer to other banks in real-time between 9:40 AM and 3:30 PM during banking hours. Transfers made outside this time frame will be processed during the next banking hours.
Fast Interbank Transfer (ACH): You can transfer to other banks 24/7, but the maximum amount limit is lower than RTGS.
Yangon Pharmacy Wholesale: You can make the payment for the Yangon Pharmacy Wholesale periodically.
Inquire Account Information: You can see and check your account information and balance on time/ real time.
Log in History: You can check the log in history of your devices; mobile or PC.
Change User Name: You can change the User Name that was created by the Bank when you applied.
Change Password: You can change your password when you want or when you suspect your name is already know by another.
Transaction History: You can check and see all real time transactions that you did.
Download Bank Statement: You can download the bank statement by yourself and you can print out when you want.
4. One time password (OTP)
One time password is a 6 digits code that will be sent to your phone via SMS when you do every financial transaction. The system will automatically provide this 6 digits OTP randomly to your registered mobile phone number. That is the important security step to prevent from any frauds or scams. You need to agree and acknowledge that you shall keep the OTP all the time and shall not share to anyone.
5. Fees and Charges
The following fees and charges will collected until announcement of any changes or amendments, increase or reduce by SHWE Bank from time to time and users can check on the SHWE Bank website. You have to agree to pay all transaction fees and charges whenever you use the iBanking or mbanking service.
The bank will not collect when you make the Own Account Transfer for all accounts and Internal Account Transfer between the same branch two accounts. Transaction fees will only charged for transactions between different regions of two accounts and batch transfer transactions, Interbank Transfer (RTGS), Fast Interbank Transfer (ACH) and Bill Payments.
6. Transaction Limitation
Transaction limitation is limited by minimum and maximum amounts per one time, daily, weekly and monthly by SHWE Bank. SHWE iBanking or mBanking user can make the transaction per day with the minimum balance limit (1,000 MMK) to up to limited maximum amount. You need to maintain a minimum credit balance 1,000 MMK in every saving account or cheque. The bank may impose the transaction limitation for each transaction, and if required, it may change from time to time. You can see and check the detail transaction limitation on the SHWE Bank Website.
7. Termination of Service
SHWE Bank may terminate the iBanking and mBanking service at any time and also you may request the termination of iBanking or mbanking service at any time by giving a writing notice. The bank may take action when users breach some terms and conditions or any other agreement with SHWE bank. The Bank may at any time without giving notice or reasons, suspend or terminate the iBanking or mBanking services or their use by the User.
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