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MOB Bank

FAQ

MOB Bank > FAQ

FAQ

MOB offers Current Deposit Account, Savings Deposit Account, Fixed Deposit Account and Call Deposit Account for both Personal and Business. Please click here for more information.

The list of documents required to open an account vary depending on what types of account you wish to open. For Personal Savings Deposit Account, the following documents are required;

  • A copy of NRC
  • 2 Referees
  • Form 1 for foreign individuals

For others, please check the relevant account name for more information.

MOB requires full information of the beneficiary such as name of the recipient, NRC Number or the remittance number, full address and phone number.

MOB offers various types of loans for both individuals and businesses. Some of the loans that MOB offers to businesses are

  • Term Loan
  • Overdraft
  • Bank Guarantee
  • Vehicle Financing
  • Assignment of Debts
  • Education Loan
  • Gold Financing
  • Hire Purchase
  • Deposit Financing
  • Pledge Financing
  • Hypothecation Financing
  • Supply Chain Financing

Please contact and inform your nearest branch as soon as possible when you lose your savings book or passbook. You can apply for a replacement anytime at the account holding branch with a statement from the police station.

You are not allowed to share your individual savings account with anyone but you can open a separate joint account to share with your family member.

MOB provides utility and meter bill services.

There are two types of foreign currency accounts; individual and joint. For both accounts, you are required to provide the application form, passport (or) NRC copy, Visa copy (if foreigner), foreigner exchange declaration form, source of income, initial deposit and two recent photos.

MOB offers two types of MPU credit cards; classic and gold card. The minimum age required to open the account is age 21 years and above for the principal card and age 18 years and above for supplementary card. For more information, please click here.

Types of collateral to secure a business loan include the following:

  • Commercial Building
  • Equipment
  • Accounts Receivable
  • Personal Residences
  • Gold Bars or Bullions
  • Muse Branch, Contact (082-51946, 082-51290, 09-400403801)
  • IBD Yangon, Contact (01-378005, 01-378007, 09-776391949, 09-262760513)
  • Mandalay (35th street) Branch, Contact (02-4039441,02-4039441, 09-43148134)

No initial deposit.

CNY 50

It can be done within the same working day.

1.Application Form (Business)
2.Application letter with Company Letter Head
3.Resolution of Board of Director
4.Certificate of Exporter / Importer Registration
5.Company registration (or) Certificate of In-Corporation
6.Company Constitution
7.Identify card copy / Passport & Visa copy of Shareholders
8.Two recent passport photos of authorized persons

You will need to sign in full according to the signatures based on BOD resolution used to open the account.

• Telegraphic Transfer (Outward and Inward)
• Letter of Credit (Import & Export LC)
• Documentary Collection (DP / DA)
• MOB Yuan A/C to A/C transfer
• FX Dealing (RMB Trading)

 MYORMMMY

MOB Bank has no IBAN code or BIC code. There is only MOB Bank SWIFT code – MYORMMMY

There is no limit for the trade transactions.

Export Advance

  1. Declaration of funds received the letter with company letter head
  2. Export License (If license Item) / Non-License Undertaking Letter
  3. Proforma Invoice/Sale Contract
  4. Undertaking Letter for ED and Shipping Documents to submit.

(Note: Exporter have to submit full sets of shipping documents and Allow Shipment Notification / Export Declaration (ED) after shipment.)

Export Proceeds

  1. Declaration of funds received the letter with company letter head
  2. Invoice
  3. Packing List
  4. Truck Way Bill / Delivery Note /Cargo Receipt
  5. Allowed Shipment Notification / Export Declaration (ED)
  6. Export License (if license item) / Non-License Undertaking Letter

● MOB SWIFT Code – MYORMMMY
● Beneficiary Account Number
● Beneficiary Account Name
● Remittance Information (Purpose of Remittance)

Advance Payment Telegraphic Transfer

1.Telegraphic Transfer Application Form

2.Advance Payment Request Letter

3.Import License / Non-License Undertaking Letter

4.Proforma Invoice /Sale Contract

5.Undertaking Letter such as ID and Shipping Documents to submit

6.Others (Undertaking Letter such as Shipper Differ, Partnership Agreement, ….etc) (if any) 

 

Post-Shipment Telegraphic Transfer

1.Telegraphic Transfer Application Form

2.Import License / Non-License Undertaking Letter

3.Release Order Notification/Import Declaration (ID)

4.Truck Bill (Road/Cargo Receipt/Delivery Note)

5.Commercial Invoice

6.Packing List

7.Others (Undertaking Letter such as Shipper Differ, Partnership Agreement, ….etc)(if any)

Yes.

You can make a transfer for Telegraphic Transfer (TT) outward Payment.

(1) BEN: All charges will be paid by the beneficiary
(2) SHA: The sender pays the fees charged by the transferring bank and the recipient who pays
the fees charged by the receiving bank.
(3) OUR – All charges must be paid by the sender. There is no charge for the receiver.

According to CBM Instruction No. 7/2022, within 30 days upon receipt of shipment, exporter can use it for themselves and sell it to the bank. The balance should be sold to the relevant bank within 30 days (The day that turns 30 days being the latest day to sell).

At present, Yuan is not allowed to be withdrawn.

Yes. Can be change as per market rate.

Yes, you can transfer Yuan between MOB Yuan Account

  • Book Transfer charges – CNY 30

You can contact to-

  • Muse Branch, Contact (082-51946, 082-51290, 09-400403801)
  • IBD Yangon, Contact (01-378005, 01-378007, 09-776391949, 09-262760513)
  • Mandalay (35thstreet) Branch, Contact (02-4039441,02-4039441, 09-43148134)