MEB Services


MEB's E-Remittance service launched on June 2015 at Naypyitaw and Pyinmana branch by using internet. This system is provided by DRMI Co., Ltd Malaysia for prompt payment of remittance service. Right now, customers can get the E- remittance service at 111 branches. See more details:

Types of Internal Remittance Services Rendered by MEB

  1. Bank Draft
  2. Telegraphic Transfer
  3. Fax

Bank Draft

Bank Draft remittance can be made among all the MEB Bank Branches as well as between MEB Bank Branches and Myanma Investment and Commercial Bank.

Telegraphic Transfer

Telegraphic Transfer can be made to MEB Bank Branches which doesn’t have fax services.


Fax remittance can be made among MEB Bank Branches, between MEB Branches and Myanma Investment and Commercial Bank, and some selected Bank Branches of MEB.

Internal Remittance Fees charged by MEB

The following fees on Internal Remittance services are charged by MEB since (17.10.2014).

  1. Fixed amount of 5 pyas (0.05%) per K 100 if include schedule A
  2. K 500 for fax service fee is charged in addition to the above remittance fees for fax remittances.
  3. K 500 for online service fee is charged in addition to the above remittance fees for online remittances.
  4. K 500 for telegram service fee is charged in addition to the above remittance fees for telegraphic transfers.

External Remittance

MEB has been serving fund transfer services between Malaysia and Myanmar by using May bank Money Express (MME) service since October 2012, and between Thailand and Myanmar by using Krung Thai Bank’s service since April 2017. It was intended for migrant Myanmar worker to send money back smoothly for their families.

E-pension System

In order to provide faster service to the Pensioners and to reduce work burden for the staff, MEB started E-Pension System in August 2012. By using computer system and Smart Cards in pension payments, pensioners can now use e-pension cards to withdraw their pensions on any day or at any time.

Saving Deposit Accounts

MEB accepts saving deposits in all of its bank branches and anybody can open saving bank accounts at any of MEB branches. (Only in 6 Banking Branches located in Yangon downtown area do not accept saving deposits and there are 4 specialized Saving Banks existed in the area).

To nurture saving habit of the people, depositors are allowed to withdraw from their saving deposit accounts only once a week however, there is no limit on the amount for withdrawal.

Types of Saving Deposits

  1. Single Account
  2. Minor Account
  3. Joint (A) or Joint (B) Account
  4. Security Deposit Account
  5. Public Account

Interest Rates on Saving Deposits Interest on Saving Deposits is 8% per annum since 1st January 2012.

Saving Certificates

MEB is selling Saving Certificates with 12 years maturity to the people bearing the interest rate of 9% per annum. However, interest can be allowed on yearly basis and if you encash your Saving Certificate There are 5 kinds of Saving Certificates with different face values:

  1. 10,000 K
  2. 50,000 K
  3. 100,000 K
  4. 500,000 K
  5. 1000,000 K

Fixed Deposits

MEB offers its customers 5 types of Fixed Deposits with different maturities, 3 months, 6 months, 9 months and 1 year with the interest rates of 8%, 8.125%, 8.25%  and 8.375% per annum respectively. The Customer may withdraw the principal or interest or both on fixed deposit on due date or to rollover it to their Current Account or Saving Account by giving Standing Instructions to bank.

Current Accounts

Individuals, business persons, companies, Social and Community Groups can be opened Current Accounts (checking Accounts) at all MEB Bank Branches.

Credit Facilities

MEB provides the following types of loans and advances to businesses engaged in production, trade, transportation, construction and service industries –

  1. Short-term loans (up to one year)
  2. Mid-term loans (3 to 5 years)
  3. Long-term loans (above 5 years up to 10 years)

Loans and advances are renewable on the basis of liquidity and credit-worthiness.

Interest Rates on Loans and Advances

  1. Short-term overdrafts13 %per annum
  2. Short-term loans13 %per annum
  3. Mid-term Loans (3 to 5 years)12.5 %per annum
  4. long-term loans (above 5 up to 10 years)12.25 %per annum

Other Service Charges on Loans and AdvancesService charges of 1% on the total limit of loans and overdraft and commitment fees of 1% on unwithdrawn amount of loans and overdraft are charged since 1st January 2006.

Two-Step Loan

In order to promote Small and Medium-sized Enterprises in Myanmar, Myanma Economic Bank is implementing the Two-step Loan Project as an Executing Agency which funds was provided by JICA. MEB provides loans to participating financial institution (PFI) with the interest rate on 4% and PFIs lend to SMEs with the interest rate on 8.5%. MEB and Treasury Department receive 3% and 1% of commission income respectively.

  • Amount of ODA Loan : ¥ 5033 million JPY
  • Interest (Annual) : 0.01%
  • Grace Period : 10 years
  • Repayment Schedule : 30 years  
  • Maturity : 40 years

Payment Order

Payment Order is a guaranteed-cheque issued by MEB to save customer's time and efforts. MEB charges on Payment Orders as follows;

  • Amount up to K 10000 K 10
  • above K 10000 K 10 for every additional K 100

Automated Teller Machine System (ATM)

ATM networking of Myanma Economic Bank is connected with the Myanmar Payment Union's networking. Our ATM service was announced on 2nd April 2015. Firstly, we started (22)branches and the we are being extended our ATM service to (53) branches with (73) machines at the moment. We are arranging to extend ATM service to all district branches. We have already distributed our ATM card to (30,877)customers. Now we have already arranged certification of the Japan Credit Bureau (JCB) and Union Pay International (UPI) with MPU.

Online Phone Billing System

Myanma Economic Bank is cooperating with Myanmar Post and Telecommunication, collect the post paid phone bills (Yangon, Mandalay Regions) by using online. And then MEB present the phone bills in website on behalf of MPT. Our Online Phone Billing System was launched on 15 August 2011 and our customers can pay their phone bills at 7 MEB branches Naypyitaw, Yangon (1)(2)(5) Saving (3), Mandalay (1)(2). Moreover, the other agents which were assigned by Ygn(2) and Mdy(1), this Online Phone Billing System can get service at City Mart Shopping Centre, Super One Shopping Mall and so on. Nowadays we are servicing the above of forty  thousand phone numbers every month.

Mobile Payment System

MEB is providing Mobile Payment Service to public cooperation with Innwa Bank Limited, Myanmar Mobile Money give mobile services such as cash in, cash out, top up and pension payment by using Point of Sale(POS) at (281) MEB branches since (15.1.2015). MEB Ygn(2) is assigned as Super Agent and the other (280)branches are also assigned as Agents. Every Customer using MPT, MECTel and Mytel Sim Card can join our Mobile Service as KYC. Also our pensioners can easily draw their pension payments at MEB and other Mobile Agents.

FOREX Services

MEB starts rendering FOREX services since 22nd April with the approval of the Ministry of Finance and Revenue.

MEB has established 48 Correspondent Banks in 10 countries and maintained 32 nostro accounts in USD, Euro, THB, SGD,CNY and Japanese Yen with correspondent Banks in Singapore, Japan, Thailand, India, Bangladesh and China. MEB make settlements of its international payment through these nostro accounts.

Myanma Economic Bank became a member of SWIFT in March, 2004 and has been sending and receiving financed message by SWIFT. SWIFT BIC is MYEBMMMY.

MEB’s FOREX Department provides the following services;

  1. Opening foreign currency demand deposit accounts both in MEB Head Office and its authorized branches in some townships and in border trade areas.
  2. Foreign currency Account transfers with foreign Correspondent Banks and Domestic Banks such as MFTB,MICB.
  3. Buying and Selling of Foreign Currency from Ministries and Departments.
  4. Issuing, advising and confirming Letter of Credit.
  5. Drawing, accepting and collecting Bill of exchange.
  6. Sales and purchases of traveler cheques and notes.
  7. Six month Fixed Deposits account.

Border Trade Services

MEB also provides banking services in border areas to facilitate border trade transactions. The following Branches render border trade services:

  1. Muse Branch
  2. Ban Maw Branch
  3. Tachilake Branch
  4. Kyaing Ton Branch
  5. Mywaddy Branch
  6. Kaw Thaung Branch
  7. Sittwe Branch
  8. Maungdaw Branch
  9. Tiddim Branch
  10. Tamu Branch
  11. Myitkyina Branch
  12. Kunlong Branch
  13. Myatke Branch
  14. Dawei Branch
  15. Htantalan Branch
  16. Pharsaung Branch


Myanma Economic Bank, Maungdaw Branch and Sittwe Branch and Bangladesh Banks such as Sonali Bank, Teknaf Branch, AB Bank Ltd Teknaf Branch provide US Dollar Bank Draft up to USD 50000 per transaction for essential items and USD Bank Draft up to USD 30000 per transaction for other commodities for border trade settlement. Transactions over USD 30000 can make settlement with Letter of Credit.

Myanmar- India

Myanma Economic Bank, Tamu Branch and United Bank of India, Moreh branch can provide US Dollar Bank Draft up to USD10000 per transaction for Myanmar - India border trade settlement and also Euro , Singapore Dollar and any other freely convertible currencies can be used in normal trade transactions.


Myanma Economic Bank, Muse Branch and Branches of China Construction Bank (CCB), Agricultural Bank of China (ABC), and Industrial and Commercial Bank of China (ICBC) in Ruili can provide no limitation amount of Yuan Bank Draft for border trade settlement and using Letter of Credit (LC) in Myanmar-China border Trade will arrange in both sides.

Other Services

Issue of Performance Guarantee, Accepting Safe Custody Items, Locker Rentals, and a wide range of other banking services are also available at MEB branches.

Core Banking System

MEB participates as a member of Modernization of Public Finance Management project (MPFMp) that is 5 years plan from 2014-2015 financial year to 2018-2019 financial year. In this PFM project, our priority is to support efficient and responsive delivery of Public Services and State Fund Account. So, MEB is implementing CORE Banking Solution that can support most of current and future needs of the MEB and its customers.