Aya Bank International Transfer

A bank in Myanmar, AYA Bank goes by the native name of Ayeyarwady Bank. It was founded in 2010 by U Zaw Zaw. It’s been recently reincorporated as a public company. AYA Bank like several other banks helps in the transfer of money across borders through its World Remit service. This works as an advantage for people who have their family back home or students who are studying abroad. Taking AYA Bank international transfer into consideration, this blog has expanded on its World Remit details. Continue reading for a better understanding. 

Why Choose AYA Bank International Transfer? 

AYA world remit is offered by AYA Bank wherein one can easily and affordably send money overseas to their friends and relatives. But what are some of the features that can motivate customers to choose AYA Bank international transfer service? We have shared some of them below.

  1. The transfers are fast and secure. The customer can transfer money to the recipient on the same day, which is upon a cutoff time. 
  2. The transfers are easy to make and accessible. This means that the service of making AYA Bank international transfers is easily available to customers via mBanking/iBanking anywhere and anytime in the world.
  3. The bank provides a preferred and competitive exchange rate from USD/EURO/SGD to MMK. 

AYA World Remit: Western Union Outbound and Inbound 

A remittance network, the western union provides the provision of transfer money abroad to over 200 countries. People can transfer money back home from AYA bank. 

Sending and Receiving Money 

How can one send and receive money under Western Union Outbound and Western Union Inbound? Tabulated below is the information you require. 

Sending and Receiving Money Western Union OutboundWestern Union Inbound
How to send money?Visit the selected AYA Bank branches.Enquire about the same and fill out the form. The supporting documents should be attached.The availability of sending money is at any Western Union agent. The main step is to fill out the form with all the necessary documents.
How to receive money?The availability of receiving money is at any Western Union agent.
The following details must be provided:
Beneficiary’s NRCTransfer Amount & 10 digits MTCN codeSending CountrySender’s Name
The availability of receiving money is at any AYA branch.
The following details must be provided:
Beneficiary’s NRCTransfer Amount & 10 digits MTCN codeSending CountrySender’s Name

Also Read: Al Rajhi International Transfer: Benefits, Transfer Fee, Exchange Rates

Eligibility 

The eligibility of the transaction proposed is mentioned below.

Western Union OutboundMaximum USD 3,000 (INR 2.5 lakh)/transactionMaximum USD 10,000 (INR 8 lakh)/year 
Western Union InboundIt depends on the preference of the sending company. 

Fees and Charge 

Now what are the charges involved in the transaction? Read the tabulated information below.

Western Union OutboundUSD 25 (INR 2000) or MMK 32,000/ (INR 1.2K) transaction
Western Union InboundThere will be no charges that are to be collected from the beneficiary. 

Also Read: How Does International Money Transfer Work: A Comprehensive Guide

DBS to AYA Remit

Through AYA bank, money can be transferred from DBS Singapore to bank customers in Myanmar. This means that the sender is someone who holds a bank account with DBS Bank, and the receiver must hold a bank account with AYA Bank or a local bank in Myanmar. 

The steps under DBS to AYA remit are as follows.

Step 1: Open DBS Bank Account

First, the sender must start by opening a DBS bank account. They should also have DBS i/mBanking so that they can use the service. 

Step 2: Providing Information 

Next, the information shared below is required to make money transfers to AYA bank account holders. 

  • Sender Name
  • Receiver’s Branch Name
  • Name of receiver holding the recipient’s bank account
  • Receiver’s Bank Account Number
  • Amount

The aforementioned should be in DBS iBanking/mBanking to transfer the money.

Step 3: Check the Balance 

Finally, for the receiver, only the checking of the bank balance or SMS alert if subscribed, is required.

Akbar Money Transfer Service (Qremit)

Akbar Money Transfer Service (Qremit) is by Akbar Money Changer Sdn. Bhd. (AMCSB), which provides services of foreign currency exchange, along with remittance activities. This transfer service also comes under the AYA Bank international transfer. To receive money transfers, it can be done via any AYA bank branch. 

Also Read: Philippine National Bank International Money Transfer

AYA SWIFT Telegraphic Transfer

Here, AYA Bank international transfer can be done swiftly, securely, and with reliability, as it is done through the wide correspondent relationships of AYA Bank and the SWIFT network.

Source: AYA Bank 

Must Read: WHAT IS SWIFT WIRE TRANSFER?

FAQs

Q1. Who is the owner of Aya Bank?

A. U Zaw Zaw is the owner of AYA Bank. 

Q2. What is the full name of AYA Bank?

A. The full name of AYA Bank is Ayeyarwady Bank Ltd.

Q3. How many branches does AYA Bank have?

A. AYA Bank is Myanmar’s second-largest bank with 265 branches.

This was all about Aya Bank International Transfer. Stay tuned to Fly Finance, and contact for any finance-related concerns, to know more about money transfers

About Sanya Chhabra

A hermit who prefers to stand true to her values of kindness, inclusivity; and reflects the same in her writing. With a degree in literature and multimedia journalism, she's on a forever pursuit to improve. Additionally, she's open to inputs that are not unsolicited. Welcome to her professional writing space about finance, hope you enjoy your time.

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