CB Bank can provide overseas transfer (Outward transaction) for Trade and Non-Trade Payments. Customers can make efficient overseas funds transfer to almost anywhere in the world.
- Accurate, convenient and fast outward remittance within (T+1)
- Can be carried out at any CB bank branches across the country
- Can use internet banking for non-trade payment up to USD 1,5000
- No limitation for Trade Payment
** The bank is not allowed to make money transfer to countries on the sanction list under OFAC. **
Charges for outward telegraphic transfer
0.125% of remitting amount (Minimum $25) + 2000 MMK cable charges per transaction
Cancellation charges
Cancellation fees - MMK 10,000 (Equivalent foreign currency)
Enquiry charges
Enquiry charges- MMK 10,000 (Equivalent foreign currency)
Amendment charges
Amendment fees- MMK 10,000 (Equivalent foreign currency)
Processing Time
To direct correspondent banks – T+1 (the next banking day)
Advance Payment for Trade Services
30% (max- 50%) advance payment is allowed if the supporting documents are presented.
Advice for outward remittance
The debit advice can be collected at CB Bank or received by e-alert purchased.
|
Type of Remittance |
Objective of Remittance |
Required Documents |
|
Payments of Goods |
For Import products or products shipped from other countries |
Import License (if needed) |
|
Import Declaration Form (ID) |
||
|
Bill of Lading (B/L) or Air Waybill (AWB) and / or cargo receipt |
||
|
Invoice and packing list |
||
|
Cover Letter with Company Letter Head |
||
|
Service Fees for payment services |
Management Fees, Royalty Fees |
Contract and / or Agreement |
|
Bill issued by services provider |
||
|
Delivery Fees |
Bill issued by service provider |
|
|
Product Insurance Premium/fees |
Bill issued by service provider |
|
|
No objection letter from Myanmar insurance |
||
|
Air Tickets Fees and Freight Charges |
Application with company latter head |
|
|
Passenger and cargo revenue statement |
||
|
Medical Expenses |
Healthcare-related Expenses |
Passport |
|
Bill issued by service providers abroad |
||
|
Investment in business Abroad |
Loan Principle and Loan Interest |
Application with company letter head |
|
Repayment schedule |
||
|
CBM approval |
||
|
Dividend |
Application with company letter head |
|
|
Financial report |
||
|
Audit report |
||
|
Income tax copy |
||
|
Meeting minutes |
||
|
MIC Permit |
||
|
Company registration |
||
|
Form 6/26 |
||
|
Liquidation |
Application with company letter head |
|
|
Meeting minutes |
||
|
Company registration |
||
|
Form 6/26 |
||
|
CRD Copy |
||
|
Advertisement from Newspaper |
||
|
CBM approval |
||
|
Air Craft Purchase and Air craft rent |
Application with company letter head |
|
|
Agreement (purchase or Rent) |
||
|
AOC (Air craft operation certificate) |
||
|
Form 5 |
||
|
Repayment Schedule |
||
|
General |
Salaries |
Passport and Visa Copy |
|
Work permit |
||
|
Job contract/ Job Agreement |
||
|
Payroll/ Pay slip |
||
|
Education Fees |
Passport Copy |
|
|
Education related documents (Transcript of records) |
||
|
Travelling Expenses |
Passport Copy |
|
|
Air ticket or other transportation ticket |
||
|
Related bill |
||
|
Compensation |
Order of court |
|
|
Donation |
Related reformation letter (Issued by Organization) |
|
|
Purposed of donations |
||
|
Export Refund |
Application with company letter head |
|
|
Form E |
||
|
Sale Contract |
Customers have to summit TT application with form THA-KA for trade payment and TT application with form A for non-trade payment.
For more information, please contact:
CB Bank (Trade Center)
No 334/336, Corner of 23rd Street and Strand Road,
Latha Township, 11142, Yangon, Myanmar.
Hot Line: +951-378643, +951-378645