Myanmar has got its first outbound money-transfer service from Western Union, three years after launching inbound services. With the launch of the service, Myanmar people can now send money to over 200 countries and territories through nine agent banks in Myanmar – KBZ Bank, CB Bank, Aya Bank, Yoma Bank, Myanmar Oriental Bank, First Private Bank, Global Treasure Bank, Myanmar APEX Bank, and United Amara Bank. Services will be first available in Yangon, Mandalay and Nay Pyi Taw. They can transfer up to $ 3000 per day (Bt 105,000) and $ 10,000 annually. WESTERN UNION Southeast Asia and Oceania senior vice president Patricia Riingen said the target consumers for the product would be people aged from 25 to 60 who are active on social media and have international exposure. She said the company expects to receive a lot of transactions for family support, education or conference fees, medical fees, gifts or donations.
