Just landed - wondering what gives the better rate in Myanmar: ATM withdrawal or airport exchange counter?
For an expat living in Yangon, my routine involves using the local KBZ or UAB Bank ATMs for cash withdrawals. They generally offer a slightly better conversion rate than the airport. What’s crucial is having a backup plan - my colleague swears by having some pristine euro bills on hand, just in case. The airport may be a bit pricier, but it’s reliable if you're in a rush. Local knowledge goes a long way in Myanmar!
During my budget travels in Myanmar, I always found myself heading to the Aung Mingalar bus station area to exchange currency instead of the airport. By using my Wise travel card at local ATMs, like AYA Bank, I got a decent exchange rate. However, be aware of withdrawal limits - they're quite low here! The transaction fees can add up, but it’s manageable if you plan ahead. Just having enough kyats for local buses saved me quite a bit.
As someone who's traveled to Myanmar frequently for work, I always opt for ATMs. Yen to kyat is usually better than the airport rates. Don't forget, though, to choose 'no conversion' at the ATM to avoid poor rates. The Yoma Bank ATMs tend to be more reliable and even show you the total fee before you commit. Just make sure to notify your home bank to prevent any blocks on your card - nothing worse than being stuck cashless!
Just got back from Myanmar and let me tell you, using ATMs there can be a bit of a hit-or-miss experience. I remember trying to withdraw cash at a KBZ Bank ATM and facing issues. Plus, the fees attached were higher than expected. Whenever I exchanged cash at the airport using my US dollars, the rates weren’t much better, but at least it was straightforward. If you can, bring crisp, new bills - they give you better rates there.