Card Service FAQs

What types of credit card MOB offer?

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.

What are the requirements for remittance?

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

Where can I use my Debit Card?

You can use your Debit Card for ATMs, POS and for other E-commerce purchases.

What is the initial deposit amount to open a Debit Card?

The initial deposit amount for opening a Debit Card is 10,000 Kyats.

What if I lost my Debit Card?

Please call Card Department and inform them to terminate your card. After that, please re-apply for a new Card.

Can I get interest if I deposit money to my Debit Card?

No.

What is Debit Card’s validity?

The validity of a Debit Card is 3 years.

What do I do when my Debit Card is expired?

Please re-apply for a new card at the original card issued bank.

Are there yearly fees for Debit Card and how much?

There are yearly fees for Debit card and the charge per year is 1,000 Kyats.

What is the difference between Debit Card and Credit Card?

Debit Card is a type of Prepaid Card and Credit Card is the type that does not need deposit in advance.

Can money be transferred between Debit Cards?

No.

What if I forgot my password?

You can apply a new password at the nearest MOB branch by filling out the Card Service Request Form.

What if there’s a Card error on public holidays?

You can contact Hot Line Number written on your card.

How long do I wait to get my Card back if it is struck in the ATM?

If MOB card is stuck in the MOB ATM, you will have to wait for at least 1 week and if the card is stuck in the other banks’ ATM, you will have to wait more than 1 week.

What type is the Debit Card?

The Debit Card is the Pre-paid card type.

How long do I need to wait to get a Debit Card?

You will need to wait for at least one week to get a Debit Card.

What is the advantages of using a Debit Card?

Safety, because you don’t need to bring cash and even when the card is lost, you will not lose your money in the card, You can use the debit card to make payments for all shopping.

How long do I need to wait after I re-apply for a new card?

You will have to wait at least (1) week to get a new card.

How can I apply for a Credit Card?

You can apply for a Credit Card at the MOB headquarter and its branches by providing the required documents.

How many types of Credit Card are issued by MOB?

There are 4 types of Credit Card.

What are the requirements to apply for a Credit Card?

  A copy of NRC.

– A copy of Household Registration.

If the applicant is a company employee, a recommendation from the respective company is needed together with

– Evidence of salary payment/Payroll Slip/Income recommendation

– Bank statement for the last three months

– Ward Recommendation

– Credit Card (Original)

If the applicant is a business owner,

– Company Registration (Copy)

– Evidence of income/Profit & Loss Statement

– Bank Statement for the last three months

If the applicant is a retired civil servant,

– Evidence of original pension amount

– Evidence of other incomes

What is the interest rate for Credit Card?

The interest rate is (13%) per year.

Can I withdraw money by using Credit Card at the ATM? What is the maximum amount for withdrawal?

Can withdraw money from ATM by using Credit Card. If it is MPU Credit Card, you can withdraw (20%) of your credit limit and if it is MPU UPI Co-branded Credit Card, you can withdraw (30%) of the credit limit.

Can I withdraw money from other banks’ ATMs? What are the charges?

Yes, but the charge is 0.5% of each withdrawal amount.

How long do I need to wait after applying a Credit Card?

If the required documents are complete, you will get the Credit Card after (2) weeks.

If I use Credit Card at shops, do I need to pay charges?

No.

Can I make online shopping payment by using the Credit Card?

Yes.

What is the yearly fees for Credit Card and how much?

– MPU Credit Card (Classic): 10,000 Kyats per year

– MPU Credit Card (Gold): 20,000 Kyats per year

– MPU UPI Co-branded Credit (Gold): 30,000 Kyats per year

– MPU UPI Co-branded Credit (Platinum): 100,000 Kyats per year

What is the minimum salary requirement to apply for a Credit Card? Is there age limit?

You can apply if your salary is 150,000 Kyats and above and if you are 21 years old and above.

How many days can I get for free credit term?

45 days.

How do you calculate the amount limit for my Credit Card?

The amount limit is calculated on your salary and income.

How do I deposit money to my Credit Card? Does Card Owner need to deposit by himself?

Can deposit money by using Direct Debit Authority or can deposit at MOB branches by the card owner himself or by a representative.

Can I deposit money to my Credit Card by using my ACCOUNTs?

Yes, but you need to fill in Direct Debit Authority (DDA) form and link with your ACCOUNT.

Can I use my MOB Credit Card abroad?

MPU UPI Co-branded Credit Card can be used abroad but MPU Credit Card can only be used locally.

Where can I use my Credit Card?

You can use the Credit Card at ATMs, POS and for E-commerce purchases.

How can I apply for a Supplementary Card?

Supplementary Card can be applied for direct family members such as parents/wife/husband/children by filling out supplementary card form with their copy of NRC.

Deposit Accounts FAQs

What types of account does MOB offer?

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

What are the documents required to open an account?

The list of documents required to open an account vary depending on what types of account you wish to open. For Personal Saving 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.

What type of loans does MOB offer?

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

Can I share my individual saving account with my family member?

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

Is the Debit Card linked to my Saving ACCOUNT?

Yes, it is linked.

Can I use mobile banking for Debit Card?

No.

How can I open a Current Deposit Account?

You can open a Current Deposit Account with NRC original and a copy of NRC. Initial deposit amount is 1,000 Kyats.

What is the minimum amount to open the account?

The minimum amount to open the account is 1,000 Kyats.

Can I get interest for my Current Account?

No.

What do I do if I lost my cheque book?

If Cheque book is lost, you can apply for a new cheque book with the recommendation from respective police department.

How do I open a Fixed Deposit Account?

Fixed Deposit Account can be opened with original NRC and a copy of NRC.

What is the minimum amount to open the fix deposit account?

The minimum amount to open the account is 10,000 Kyats.

What are the interest rates of fix deposit account?

– Period Interest rate

30 days 8.50%

90 days 9.25%

180 days 9.50%

270 days 9.75%

365 days 10.00%

What are the saving periods?

You can save your money for 30 days, 90 days, 180 days, 270 days and 365 days.

Can I get interest if I withdraw money before the saving period is finished?

No.

Do I need to leave balance money if I want to close the fixed account?

No need to leave balance money.

How do I open a Saving Account?

Saving account can be opened with NRC original and NRC copy.

What is the interest rate for Saving Account?

8.25% per annum.

How many Saving Accounts does MOB provide?

There are (4) types of Saving Accounts that MOB provide.

How many times can I withdraw money in a week?

Only one time per week.

In which months interests are deposited to the accounts?

Interests are deposited into the accounts in March, June, September and December.

What if I lose my saving book?

You can apply for a new saving book with the recommendation from the respective police department.

What is the minimum age to open a saving account?

Anyone who is over 18 years and above can open a saving account.

What is the minimum amount to start a Call contract?

Can start the service with 100,000 Kyats.

What is the interest rate of Call Deposit account?

– 2% for below 10,000,001 MMK

– 6% for 10,000,000 MMK and above

Can I withdraw interest per month for Call Deposit account?

No. Interest will be paid every three months.

Can the Call Contract be linked with other accounts?

Yes.

Frequently Asked Questions

What are the requirements for remittance?

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

Are there any bill payment services MOB provides?

MOB provides utility and meter bill services.

What are the requirements to open a foreign currency account at MOB?

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.

What type of collateral would be required to secure a business loan?

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

  • Commercial Building

  • Equipment

  • Accounts Receivable

  • Personal Residences

  • Gold Bars or Bullions

Who or where should I inform when my card/money does not come out from the ATM?

Please call the bank where your card was issued.

Can I withdraw money from other banks’ ATM? What is the charges?

Yes, you can withdraw money from other banks’ ATM. The charge is (0.5%) of withdrawal amount.

What is the maximum withdrawal amount per day from an ATM?

The maximum amount of withdrawal from the ATM is 1,000,000 Kyats per day.

Can I change my password at other Banks’ ATM?

No. You can only change your password at MOB ATMs.

What does ATM stand for?

ATM stands for Automated Teller Machine.

Where can I apply MOB Debit card?

MOB Debit Card can be applied at MOB HQ and its branches.

Is there any limitation for withdrawals per day?

No limitation.

Can I transfer money to other banks’ cards by using my MOB Debit Card?

No.

What are the service fees for lost Card?

There are no service fees for the lost card but you have to pay 3,000 Kyats for the new Debit Card.

International Banking Department FAQs

For which countries can I open a Letter of Credit “LC”?

You can open a LC for all the countries listed on the Correspondent List. There are 58 countries

on the list.

To which countries can I make international remittance?

You can make international remittance to any country with the relevant documents. 

Is FCY service available to Trade customers with Credit Facility?

Yes.

Is Trade Facility available for LC opening?

Yes.

How long does it take to make international remittance?

If documents are complete, it can be done within a day.

How many Exchange Counters does MOB have?

There are (20) Exchange Counters at MOB.

Can I make international remittance for personal reasons?

Yes, if you can submit complete relevant documents.

Can I get interest for my USD account?

No.

How do I open USD personal account?

– A copy of NRC or passport

– Evidence of income

– Passport sized photo (2)

– USD (or) EUR (or) SGD – 100

Loan FAQs

How many types of loans does MOB provide?

There are 11 types of loans that MOB provides.

 

How can I apply loans?

There are documents required for each loan so please check the loan type that you want to apply on MOB website and check the requirements.

What is loan period?

Depending on loan type, the loan period can be (1) year, (3) years and (5) years.

What is the interest rate for loans?

Depending on loan type, interest rates are varied. Please check the relevant loan type for specific interest rate.

Which objects can MOB accept as collateral for loans?

– Land and buildings

– Gold and gold jewelry

– Goods (Agricultural products, Consumer products, equipment and machineries, etc.)

– Account balances

– Government Contracts, etc.

How long do I need to wait after applying for loans?

If required documents are complete, you can get the loan after (2) weeks.

What type of account do I need to open and what is the minimum amount to apply loans?

The loan applicant needs to open a Current Account and need to deposit 101,000 Kyats into the account. The money is for lawyer and appraisal fees.

What ratio can I get for the collateral?

The ratio depends on the type of collateral and business but the maximum ratio that can get is 60%.

What are the loan types available at MOB?

– Credit Financing Service

– Education Loan

– Hire Purchase

– Vehicle Financing

– Pledge Financing

– Gold Financing

– Assignment of Debt Financing

– Deposit Financing

– Bank Guarantee

– Supply Chain Financing

– Hypothecation Financing

Remittance FAQs

What is the remittance charges?

If MOB to MOB – 0.05%

MOB to CB, MMB – 0.10%

MOB to KBZ, AYA, RDB, MCB, GTB -0.15%

MOB to Muse – 0.20%

Other to MOB -0.15%

MOB to MOB (Muse) – 0.15%, besides you have to pay 500 Kyats for Fax Charges.

What do I need to make remittance?

You will need the recipient name, NRC number and Phone No. If transferring money to an account, the account number is needed.

Is charges the same for transferring in the same city and to other cities?

No.

To which banks can I make remittance?

KBZ, CB, AYA, MMB, MWD, MCB, GTB, RDB, Shwe, SMIDB, Innwa

Can I send someone to withdraw money for the money transfer?

Only the recipient can withdraw the money transfer.

Trustee Service FAQs

What is the minimum amount to use Trustee service?

The minimum amount to use Trustee service is 1,000,000 Kyats.

What is the interest rate?

The interest rate is 10% for every three month, six month, nine month and one year.

What is the minimum Trust service period?

The minimum Trust service period is one year.

What documents are required?

A copy of NRC for both Trustee and Beneficiary.

Can I still get interest if I withdraw money before the minimum trust period has ended?

Yes, the interest will be calculated based on number of days you have use the service.

How many beneficiaries can be added to Trust account?

At least one person is needed.

How do I cancel the Trustee Contract?

If you want to cancel the contract, you need to inform the bank one month in advance and need to bring the original contract to the bank.

What if I lost my Trust contract?

If you lost your Trust contract, you can inform the Trust Department and get a true copy of the contract with the Department Head’s signature.

What is Trust Account different from Fixed Deposit Account?

Fixed Deposit Account can get interest only when the minimum saving period is completed but you can get interest for Trust account which is calculated based on number of days although the minimum saving period is not completed.

UESS FAQs

What documents are required to open a UESS Account?

The household registration of the child together with the NRC of the parents or the guardian is required to open a UESS Account.

What is the minimum age requirement for the child?

The preference is 12 years and below but if the child is still under 14 years old, MOB can accept monthly savings depending on the child’s age.

What is the interest rate?

8.25%

When can money be withdrawn?

When the child comes to an age of university student, you can stop the savings. MOB will provide savings + bank interests + MOB’s additional supplementary payment.

How can I close the UESS account?

UESS account can be closed with the account holder’s householder registration, NRC and birth/death certificate of the child.