Foreign Currency Current Account

Foreign Currency Current Account

A current account to keep your foreign currencies and minimize foreign exchange risk. The following currencies are available to deposit:

  • United States Dollar (USD)
  • Euro (EUR)
  • Singapore Dollar (SGD)
Rates and Fees
  • Interest Rate: Foreign currency account is not eligible for interest
  • Bank charges: Please contact the call center for more info
  • Account maintenance Fees:  Foreign Currency 1 Unit  - If the account has had no deposit or withdrawal activity (other than posting interest) for a period of one year
Features and Benefits
  • Choices of 3 foreign currencies (USD, EUR and SGD)
  • Make payment, get receipts domestically and internationally
  • You can better manage foreign exchange rate risk
  • Foreign currency account can be opened as individual, joint or corporate account
  • You can also transfer funds to your local Kyats account
  • You can withdraw Myanmar Kyats or Foreign banknotes from your account
Requirement

Minimum Initial Deposit – 100 USD/EUR/SGD

Minimum Balance – 20 USD/EUR/SGD

Eligibility

Myanmar nationality and foreigners with work permit
Required Documents
Types of Company Required Documents

Myanmar nationality

(Individual and Joint Account)
  • Income Source
  • Letter from employer (for employees)

Foreigner

(Individual and Joint Account)
  • Introducer’s declaration is needed
  • Passport copy
  • Visa (copy) at least 3 months valid date
  • Employment (Resident Permit)
FAQs
In which currency that I can open an account?

USD, EUR, SGD account can be opened.

Who can open this account?

Myanmar Nationalities and also foreigners with their work permit can open this account.

What is the required minimum balance for this account?

Minimum balance is 20 units of any currency.

How to make a withdrawal?

Withdrawal can be made in any currency (EUR, USD, and SGD) and also allow to make transfer or payment in local currency.

What is functionality of the account?

Customers can make withdrawal in any currency and also allowed to make transfer and payment in local currency. Customers can also use cash management functions for the business with this account.

Can I add someone to my account as a co-account holder?

Yes. If you wish to add someone or more to your account as account holders, the account will become a joint account. Everyone whose name is on a joint account can make deposit, withdraw money and check the transaction of the account.

Can I access the account on mobile banking and make transactions?

Unfortunately, foreign currency account cannot be accessed on CB Bank's mobile banking.

How can I transfer cash to other accounts from my CB foreign currency account?

You can transfer cash from your CB foreign currency account to other CB bank account. However, for international fund transfer, please refer to International Fund Transfer via 3rd party or SWIFT.

Quick facts on receiving fund transfer from oversea banks For receiving payments, you will need to provide your partner the following information.

SWIFT/BIC Code: CPOBMMMY

Bank/Institution: CB Bank PCL

Address: No.46, Union Financial Center, Corner of Mahabandoola Road and Theinphyu Road, Botahtaung Township, Yangon, Myanmar.