Card Service FAQs
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.
MOB requires full information of the beneficiary such as name of the recipient, NRC Number or the remittance number, full address and phone number.
You can use your Debit Card for ATMs, POS and for other E-commerce purchases.
The initial deposit amount for opening a Debit Card is 10,000 Kyats.
Please call Card Department and inform them to terminate your card. After that, please re-apply for a new Card.
No.
The validity of a Debit Card is 3 years.
Please re-apply for a new card at the original card issued bank.
There are yearly fees for Debit card and the charge per year is 1,000 Kyats.
Debit Card is a type of Prepaid Card and Credit Card is the type that does not need deposit in advance.
No.
You can apply a new password at the nearest MOB branch by filling out the Card Service Request Form.
You can contact Hot Line Number written on your card.
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.
The Debit Card is the Pre-paid card type.
You will need to wait for at least one week to get 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.
You will have to wait at least (1) week to get a new card.
You can apply for a Credit Card at the MOB headquarter and its branches by providing the required documents.
There are 4 types of Credit Card.
The interest rate is (13%) per year.
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.
– 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
Yes, but the charge is 0.5% of each withdrawal amount.
If the required documents are complete, you will get the Credit Card after (2) weeks.
No.
Yes.
– 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
You can apply if your salary is 150,000 Kyats and above and if you are 21 years old and above.
45 days.
The amount limit is calculated on your salary and income.
Can deposit money by using Direct Debit Authority or can deposit at MOB branches by the card owner himself or by a representative.
Yes, but you need to fill in Direct Debit Authority (DDA) form and link with your ACCOUNT.
MPU UPI Co-branded Credit Card can be used abroad but MPU Credit Card can only be used locally.
You can use the Credit Card at ATMs, POS and for E-commerce purchases.
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
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.
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.
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
Yes, it is linked.
No.
You can open a Current Deposit Account with NRC original and a copy of NRC. Initial deposit amount is 1,000 Kyats.
The minimum amount to open the account is 1,000 Kyats.
No.
If Cheque book is lost, you can apply for a new cheque book with the recommendation from respective police department.
Fixed Deposit Account can be opened with original NRC and a copy of NRC.
The minimum amount to open the account is 10,000 Kyats.
– Period Interest rate
30 days 8.50%
90 days 9.25%
180 days 9.50%
270 days 9.75%
365 days 10.00%
You can save your money for 30 days, 90 days, 180 days, 270 days and 365 days.
No.
No need to leave balance money.
Saving account can be opened with NRC original and NRC copy.
8.25% per annum.
There are (4) types of Saving Accounts that MOB provide.
Only one time per week.
Interests are deposited into the accounts in March, June, September and December.
You can apply for a new saving book with the recommendation from the respective police department.
Anyone who is over 18 years and above can open a saving account.
Can start the service with 100,000 Kyats.
– 2% for below 10,000,001 MMK
– 6% for 10,000,000 MMK and above
No. Interest will be paid every three months.
Yes.
Frequently Asked Questions
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 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.
Types of collateral to secure a business loan include the following:
-
Commercial Building
-
Equipment
-
Accounts Receivable
-
Personal Residences
-
Gold Bars or Bullions
Please call the bank where your card was issued.
Yes, you can withdraw money from other banks’ ATM. The charge is (0.5%) of withdrawal amount.
The maximum amount of withdrawal from the ATM is 1,000,000 Kyats per day.
No. You can only change your password at MOB ATMs.
ATM stands for Automated Teller Machine.
MOB Debit Card can be applied at MOB HQ and its branches.
No limitation.
No.
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
You can open a LC for all the countries listed on the Correspondent List. There are 58 countries
on the list.
You can make international remittance to any country with the relevant documents.
Yes.
Yes.
If documents are complete, it can be done within a day.
There are (20) Exchange Counters at MOB.
Yes, if you can submit complete relevant documents.
No.
– A copy of NRC or passport
– Evidence of income
– Passport sized photo (2)
– USD (or) EUR (or) SGD – 100
Loan FAQs
There are 11 types of loans that MOB provides.
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.
Depending on loan type, the loan period can be (1) year, (3) years and (5) years.
Depending on loan type, interest rates are varied. Please check the relevant loan type for specific interest rate.
– Land and buildings
– Gold and gold jewelry
– Goods (Agricultural products, Consumer products, equipment and machineries, etc.)
– Account balances
– Government Contracts, etc.
If required documents are complete, you can get the loan after (2) weeks.
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.
The ratio depends on the type of collateral and business but the maximum ratio that can get is 60%.
– 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
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.
You will need the recipient name, NRC number and Phone No. If transferring money to an account, the account number is needed.
No.
KBZ, CB, AYA, MMB, MWD, MCB, GTB, RDB, Shwe, SMIDB, Innwa
Only the recipient can withdraw the money transfer.
Trustee Service FAQs
The minimum amount to use Trustee service is 1,000,000 Kyats.
The interest rate is 10% for every three month, six month, nine month and one year.
The minimum Trust service period is one year.
A copy of NRC for both Trustee and Beneficiary.
Yes, the interest will be calculated based on number of days you have use the service.
At least one person is needed.
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.
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.
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
The household registration of the child together with the NRC of the parents or the guardian is required to open a UESS Account.
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.
8.25%
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.
UESS account can be closed with the account holder’s householder registration, NRC and birth/death certificate of the child.