MoneyGram launches services in Myanmar

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moneygramUS-based money transfer company MoneyGram announced on August 28 that it will launch is international money transfer service in Myanmar.

Services will be provided through an alliance with three banks, Asia Green Development Bank, Myanmar Citizens Bank and Tun Foundation Bank.

The money transfer services will be offered in 10 of Myanmar’s 14 states, giving consumers access to affordable remittances. MoneyGram’s initial services in Myanmar allow consumers to securely receive money from friends and family through these 3 banks, which have locations spread across the country.

Each bank was selected “for its reliability and reputation,” MoneyGram said.

According to the World Bank, there were more than 510,000 Myanmar nationals living across the globe in 2010. It is also estimated that about 2 million former Myanmar residents now work in countries including Thailand, Singapore, Japan, Australia and the US. Myanmar clients can now receive funds from nearly 80 countries worldwide through MoneyGram including Canada, Japan, Malaysia, Singapore, Thailand, UAE and the UK.

MoneyGram’s main competitor, Western Union, already launched its services in Myanmar in January 2013.

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Reading Time: 1 minute

US-based money transfer company MoneyGram announced on August 28 that it will launch is international money transfer service in Myanmar.

Reading Time: 1 minute

moneygramUS-based money transfer company MoneyGram announced on August 28 that it will launch is international money transfer service in Myanmar.

Services will be provided through an alliance with three banks, Asia Green Development Bank, Myanmar Citizens Bank and Tun Foundation Bank.

The money transfer services will be offered in 10 of Myanmar’s 14 states, giving consumers access to affordable remittances. MoneyGram’s initial services in Myanmar allow consumers to securely receive money from friends and family through these 3 banks, which have locations spread across the country.

Each bank was selected “for its reliability and reputation,” MoneyGram said.

According to the World Bank, there were more than 510,000 Myanmar nationals living across the globe in 2010. It is also estimated that about 2 million former Myanmar residents now work in countries including Thailand, Singapore, Japan, Australia and the US. Myanmar clients can now receive funds from nearly 80 countries worldwide through MoneyGram including Canada, Japan, Malaysia, Singapore, Thailand, UAE and the UK.

MoneyGram’s main competitor, Western Union, already launched its services in Myanmar in January 2013.

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