Looking for a way to send money to family, friends or a business in Myanmar (or even to your own bank account overseas)? According to MoneySmart, you should avoid Australian banks and go with a money transfer specialist to get better MMK exchange rates and lower fees on international transfers.
Based on the providers we've compared, Western Union is among the cheapest, with competitive exchange rates and fees starting from $0. Need a really fast transfer? Remitly can get money to your recipient in Myanmar within minutes.
Best ways to send money to Myanmar from Australia
The best way to send money to Myanmar depends on your payment method, how you want your money to be received and how fast you need it to arrive.- Online money transfer provider. When buying Australian dollars or kyats money transfer specialists typically offer better rates and cheaper fees than a local bank.
- Bank transfer. Bank transfers are an easy way to send money to Myanmar but they charge extra for the convenience and are often slower than other methods. AU banks generally add a 3% to 6% markup onto exchange rates.
- Cash pickup. If you need your money to arrive fast, cash pickup gives your recipient instant access to the money you've sent when they collect it from their agent location in Myanmar.
- Mobile wallet. Essentially an electronic wallet service, mobile wallets allow users to store, send and receive eligible currencies using their phone, often with fees attached.
- Home delivery. If your recipient may struggle to get to a cash pickup location, you may be able to opt for door-to-door cash delivery.
Compare the best money transfer companies to send money to Myanmar
Cheapest way to send money to Myanmar
As reported by the ACCC, bank transfers are typically the cheapest way to get your money to Myanmar. Western Union and Remitly have some of the lowest bank transfer fees of the brands we've compared.
Remember, it's more important to look at the overall cost of your transfer to Myanmar and this has a couple of elements:- Transfer fees. While still cheaper than your Australian bank, money transfer services charge either a fixed or percentage-based fee for making your transfer.
- Exchange rates. Another way money transfer providers make money is to add a margin to the mid-market AUD/MMK exchange rate.
Certain providers may give the mid-market rate but add fees on top and others will have low fees but apply a markup on the exchange rate. This means it is important to compare exactly how many kyats your recipient will end up with.
Fastest way to send money to Myanmar
Actual transfer times from Australia to Myanmar can depend on several factors including transfer amount, payment method and currency.
Here are some of the fastest average transfer speeds to Myanmar:- Western Union — within minutes
- Remitly — within minutes
- MoneyGram — within minutes
Safest way to send money to Myanmar
The safest way to get your money to Myanmar is using a provider registered with Australia's industry regulator, the Australian Transaction Reports and Analysis Centre (AUSTRAC). All of the companies we've compared in our table are overseen by a local regulator and comply with the relevant laws and regulations in both Australia and Myanmar.
A great way to dive deeper is by reading our reviews of each transfer service and researching first-hand customer feedback on Trustpilot and similar platforms.
Large money transfers to Myanmar
If you need to make a sizable money transfer to Myanmar, consider using a provider such as to secure a better MMK exchange rate and benefit from its expertise handling larger transactions.
Using a large transfer specialist can have the following advantages:- Tax guidance. Large transfers to Myanmar may have tax implications for you or your recipient. A transfer specialist can help get you up to speed on the Australian Taxation Office's latest advice.
- Foreign exchange tools. Advanced tools such as forward contracts, limit orders and stop-loss orders can help you lock in the MMK exchange rate you want.
- Account manager. Some money transfer providers assign a personal account manager who can offer advice and help facilitate transfers.
- Phone service. If you want to talk your transfer through with someone, providers such as Western Union and Remitly can provide support over the phone.
How to send money to Myanmar from Australia
To send money to Myanmar, you'll need the necessary documentation, your recipient's details and a way to pay.
- Compare your options.Use our table to find a money transfer provider that sends funds to Myanmar. One may be better for cash pickups while another may suit a bank transfer. Once you've found the best one for your requirements, click "Go to site".
- Create an account.You'll need to give your name, address, contact details, proof of ID and method of payment.
- Provide your recipient's details.Enter your recipient's name and contact information. If you're sending straight to their Myanmar bank account, you'll need the account number, SWIFT or IBAN plus their bank branch's address.
- Enter your transfer amount.Check you're happy with the fees, exchange rates and transfer speed, then enter the amount you wish to send. Double-check the total kyats your recipient gets.
- Complete your transfer.Send your money transfer to Myanmar. Keep your transaction reference number safe so you can track your transfer. Your recipient may need it too.
How to choose a money transfer company for Myanmar
When selecting a provider to transfer money to Myanmar, here are the main factors to consider:
- Exchange rates. Banks and transfer services use the mid-market rate to trade with one another. However, not every money transfer provider offers the mid-market rate so compare the MMK you're offered to the mid-market rate to calculate the margin.
- Transfer fees. Are you being charged a flat fee or a percentage of the transfer amount? A provider offering to transfer your money to Myanmar for a flat or low fee might work out better if you're sending a large amount.
- Transfer type. Does your recipient have a Myanmar bank account or is cash pickup a better option? Each transfer type will have different fees. For example, instant cash pickups tend to be more expensive than bank transfers.
- Transfer speed. If you need your transfer to arrive quickly, you can pay for an express delivery. Companies such as MoneyGram offer instant cash pickups but may charge more. If you're not in a rush, online money transfer services offer the best value.
- Transfer limits. Find out how much you can send with each service. For example, Remitly has a transfer limit of $2,999 while Western Union allows transfers up to $50,000.
- Discounts. Providers may offer you a free transfer simply for signing up. Others may give a discount for transferring more than a specific amount of kyats.
Frequently asked questions
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Ask a question
How can i transfer money online from US to Myanmar? is there any available service?
Hi Ashish,
Thanks for your enquiry.
You may use our guide in sending money to Myanmar from the US. Some of these money transfer providers operates a wide branch network throughout Myanmar. You can initiate a transfer online or by visiting an agent location in the US. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you initiate money transfer.
Thanks,
Belinda
Hello, i want to transfer money to myanmar from india,, i have no idea how to do and there is no location find ..plz help me
Hello, i want to transfer money to myanmar from india,, i have no idea how to do and there is no location find ..plz help me
Reply
Hi Abhay,
Thanks for your question.
Please know that you are viewing the Australia Finder page and the options provided may not be relevant to you. To send money from Myanmar to India, you can use money transfer providers that offer cash pick-ups like MoneyGram and Western Union. You can visit an agent location and send funds from there. The money can then be picked up as cash from an agent location in India.
Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you initiate a money transfer.
Cheers,
Shirley
Hi Ven,
Thanks for your enquiry.
Please know that you are viewing the Finder Australia page for ways you can send money to Myanmar from Australia and the options provided may not be relevant to you. However, you may check Western Union and MoneyGram wherein they can help you process the funds transfer with an option for cash pickup. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you initiate a money transfer.
Thanks,
Belinda
Can you tell me how to transfer money Australia to Myanmar, I’m a bit confused.
When I filled the from, do I need to write the Western Union name, address or the recipient’s details?
Hi Pot,
thanks for the question.
This will depend on how you’re sending money to Myanmar. If you’re sending it using Western Union’s Money in Minutes service or their bank account to bank account service, you’ll need to supply the recipient e.g your friend or cousin’s details.
If you’re sending it to a Western Union branch to be picked up as cash, you’ll need to fill out a send money form and select ‘cash pickup’.
Next, you’ll need to give the agent at the Western Union branch the completed form, and then give your recipient the tracking number, which they can bring to their nearest Western Union branch to pick up.
I hope this helps,
Marc.