SWIFT - SHWE Bank

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Description of Product

A very fast, safe and reliable way of transferring money between two persons or entities anywhere in the world through use of Shwe Bank’s wide correspondent relationships and the SWIFT network.

Benefits for Customers

Very fast, the recipient is able to receive the funds quickly usually within 24 hours
Very safe with practically no risk of loss as bank uses their correspondent banking relationship to conduct settlement
Reliability ensured as banks have the necessary internal infrastructure and send and receive messages through authenticate SWIFT messages to ensure that the transfer is executed in a timely fashion and to good order

Key Features

Eligible Customers

Business incorporated in Myanmar

Sole–Proprietor or Partnership
Limited Company
Joint Venture
Individuals

Available Currencies

US Dollar
Euro
Singapore Dollar

General Requirements

Customer must maintain account with Shwe bank
Applicable foreign exchange rate is in accordance with daily Board Exchange Rate of Shwe Bank
For outward telegraphic transfers:
Customer must have sufficient funds in foreign currency to effect payment
Purpose of transfer must be declared
Supporting documents required for outward remittance

Pricing

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Outward Remittance (OTT) :	0.125% of amount remitted, Min. USD 25	SWIFT Cable Charges USD 3, EUR 2, SGD 4
Inward Remittance (ITT) :	USD 10 per transaction, EUR 8, SGD 12