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FAQs

FAQs

New Coustomer

How to contact uab bank

You can contact our call center 01-8551335 (or) visit any of our uab bank Branches.

What loan facilities uab bank offers?

uab bank offers overdraft, Term Loan, Pledge Loan,  Loan against Deposit, and Hire Purchase.

Where can I find disclosures of products & services?

What type of Products does uab bank offers?

uab bank offers a wide variety of deposit, loans, remittance, cards and digital products To learn about our different deposit accounts, click here, http://www.uab.com.mm/personal-deposits

Who is uab bank?

uab bank is a leading bank in Myanmar and established in 2010. We are now serving our customers from a growing network of over 78 branches in 47 townships across Myanmar.
At uab bank, we believe in leading the way towards a better Myanmar, humanizing banking, connecting people, creating opportunities and changing lives. Please find out more at here, http://www.uab.com.mm/about-us

Account Opening

What is the initial deposit amount required to open foreign currency account?

The initial deposit amount to open a foreign currency account is USD 100 (or) SGD 100 (or) EUR 100. Please note; the initial amount is USD 5,000 for Car Account and USD 0 for Seaman Account. What documentation is required to open a company banking account? To open a business banking, customer will be requested to provide below;

  • Company Registration
  • Board of Director Resolution
  • Certificate of Incorporation
  • Company documents from the DICA on-line system

What is the initial deposit amount required to open a local currency account?

The initial deposit amount to open an  account is MMK 10,000.

What kind of foreign currency are available to open an account can open?

uab bank offers 3 types of foreign currency account in USD, SGD and EURO.

What kind of information do I need to provide if I want to open a bank account?

You have to fill up application form to provide your full information and present the original ID at uab branch. Please note, the requirements for company account opening may vary.

How long it will takes to receive my ATM card after opening the account?

It will take up to 3-7 working days. However, it may takes longer than usual depends on various conditions. The bank will inform you to collect the card at the branch. 

How long it will takes to open a bank account?

The bank will open your account immediately once you provide all the required information.

Deposit Accounts

What will happen if I close Fixed Deposit account before the maturity?

If premature closure, interest will be calculated for eligible period as per terms and conditions. If there are any excess interest earlier paid, it will be deducted from the principal amount

What is the minimum term of Fixed Deposit account?

The placement periods of Fixed Deposit are for minimum of 30 days

What is the maximum term of Fixed Deposit account?

uab bank offers a maximum 365 days term for Fixed Deposit Account

How interest be paid for Senior Citizens account?

Unlike normal Fixed Deposit accounts, interest is payable on monthly basis to designated Current Account or Saving Account which can linked with a Debit card

Who can open senior citizens account?

This account is specifically offered for “Senior Citizens", person aged 60 and above. This account is allowed to open by senior citizens alone or along with individuals, below 60 years of age. The Senior Citizen’s account operates on a Fixed Deposit basis

Can I open more than one for foreign currency account?

Customers may be allowed to open more than one account, if there is genuine requirement. However, only one foreign currency account is allowed for the purpose of Car Import

What is the advantage of e-Savings account?

The e-Savings account does not have a Passbook and access to the account may be made through the e-mobile banking or e-Online banking. Access to your account is 24 hours, 7-days a week

Is the any withdrawals restriction for Smart Saver Account?

There are no restrictions in withdrawals of Smart Saver Accounts

What is smart saver account?

For Smart saver account, interest is earned on tiered basis with a higher interest rate is earned the higher the balance in the account

How saving plan works?

Saving plan is designed for a customer who can deposit a fixed sum every month to save for a period 36 months. Minimum monthly deposit is MMK 10,000 and bank will pay interest similar to a Savings account and if regular deposits are made, you may earn bonuses on top of the interest earned. 

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Accounts (General) Information

Can we open a foreign currency account at every uab branch?

Foreign Currency accounts are allowed to open at selected branches. Please contact to our call centre:01-8551335 for details.

If my address and/or phone number has changed, how do I update this information on my accounts?

To change the address and/or phone number on your account, visit uab branch to speak with a customer service representative.

Who can make a withdrawal from Children Account (minor account) at any uab branch?

Parents or any legal guardian can withdraw on behalf of the children at the account holding branch.

What happens if the Fixed Deposit rates being offered change before my maturity date?

The bank will continue to pay you interest until the contract period matures. Thereafter, the new interest rate will apply.

How to make cash withdraws?

You can withdraw all money at uab branches. If the amount is large volume, pre-requisition to inform the bank may be required. If the amount is less than or up to MMK 1,000,000, you can withdraw at uab ATM.

How do I report a lost or stolen ATM/debit card/credit card?

Please immediately contact Call Centre or report to the home or nearest branch, and request to deactivate your ATM/debit card/credit card.

What should I do if I have lost my saving passbook?

If you lost your saving passbook, please contact to nearest branch as soon as possible. And then, you have to approach home branch with a request to issue a replacement. You are requested to bring a statement from the police station.

Remittance/Transfer

Can I make cancellation for account transaction transfer or remittance that I have done previously?

No, unfortunately not. Regarding with this matter, please contact the recipient of the transfer.

Can I make a remittance and/or receive money transfer if I don not have a uab mobile banking account?

Yes, you can. You can do cash remittance to others from uab Branch which is nearest located of you.

What happen if the receiver does not withdraw money transfer I transferred from my  account?

When the receiver does not withdraw money within 6 months, it will revert back to the Sender account. For these conditions the sender will be contacted by bank.

Can I transfer money to someone who are not registered for uab online/mobile banking?

Yes, you can send to non-registered user of uab online/mobile banking by using your online/mobile banking. Non-registered user will withdraw money from uab branch.

What are the requirements for remittance?

The bank will request you to provide full information of the beneficiary, such as, name, NRCC, and contact details.

Trade Finance

I want to make international remittance in foreign currency, but I have MMK in account. So what can I do?

Customer should provide balance in the account which is equivalent to remittance amount in foreign currency. The bank will arrange to exchange MMK to foreign currency with day's currency exchange rate as per customer request. Then, bank will arrange to for further remittance process.

What should I do if I want to make international remittance?

To send international remittance, customer should open a saving/current account with uab. Customer need to submit remittance application and supporting documents to the bank. Then, bank will identify and if satisfied, debit account and arrange to send money to beneficiary. International remittances are subject the Exchange Control Regulations in Myanmar.

What is a letter of credit?

Letter of credit is, a method of settlement of payment of a trade transaction and is widely used to finance purchase of machinery and raw material etc. It contains a written undertaking given by the bank on behalf of the purchaser to the seller to make payment of a stated amount on presentation of stipulated documents and fulfilment of all terms and conditions incorporated therein.

What kind of trade finance facilities that uab bank offers?

We offer various trade finance services such as Letter of Credit, Bank Guarantee, International Remittance, etc. Please visit here https://www.uab.com.mm/trade for more detail.

Fees & Charges

Is there any annual fee for ATM card (MPU)?

There is no annual fee for 1st year. However, MMK 3,000 per annum for 2nd year onwards.

Is there any charges for cash withdrawal at ATM?

There are no charges for cash withdrawal at uab ATM for uab Debit cards. However, there is a fee for use at MPU ATMs and Credit cards also do carry a fee for cash withdrawals

Should Recipient pay any remittance/transfer fee?

For some products, Recipients do need to pay fees. For other products such as Western Union and RIA Fund Transfers, the recipient does not need to pay fees. Please check with your branch.

Is there fee for all transactions?

For each transaction, a transaction fee shall be collected and it will be deducted from your account. Please check our Tariff Sheet for charges.

What is the registration fee for opening uab mobile account?

You don’t need to pay any fee for registration.

What is the registration fee for opening uab account and Debit card?

You don’t need to pay any fee for registration or card application for the first time.

ATM Cards (MPU) and ATM Services

What can I do if I want to withdraw cash at night?

ATM service offers 24/7 for your convenience.

How much can I withdraw at ATM?

You can withdraw from ATM, maximum MMK 300,000 per transaction and up to a total of MMK 1,000,000 per day.

When do ATM and point of sale (POS) transactions post to my account?

When you use your personal identification number (PIN) to perform an ATM transaction or POS transaction, these post to your account immediately.

How do I activate when I received my new Debit card?

You can activate your new uab Debit card at uab ATM machine with provided PIN (Personal Identification Number), then you must change to a new PIN.

What is the validity period of uab (MPU) ATM card?

Your uab Debit card (MPU) comes with 5 years validity period.

Can I use my uab Debit Card in Super Markets and POS Shops to pay for goods and services?

Yes, you can use it at any shops or businesses accepting MPU Cards.

Other Services

Are there bill payment services offered at uab bank?

uab bank offers Electricity bill payment via GIRO.

How do I find out more about uab bank?

Head to the About us section of our website to discover more about our history, what we do and much more. Keep in touch with upcoming events around the globe by following us on Facebook and LinkedIn. Want to ask a specific question? Just visit our contact us page and send us your details.

Where can I get the latest corporate news and financial reports?

Visit our uab website www.uab.com.mm, News & Media page for the latest news on uab. Go to our Financial Information page to see our latest financial information and annual report.

Where can I find uab bank branches and ATMs location?

Please visit to our uab website www.uab.com.mm , location page to find out our branches and ATMs location.

If I have more questions on the uab facility. Who should I call?

You may call the uab call center: 01-855 1335. Our uab Facebook Messenger also has a facility to take messages and interact with you.

What are the Branch Opening hour?

Branch opening hours

Mondays to Fridays: 9:00am to 3:00pm

Saturday, Sundays & Public Holidays: Closed

To locate the nearest branch based on your location, click here

 
 
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