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Lao banks with international ATM card service List of Lao banks LAK kip Rates for Monday, Jun 5, 1 USD 1 EUR 1 GBP 1 AUD 1 CAD 1 JPY Main banks in Laos in the capital Vientiane and cities and towns in all provinces have international ATMs accepting PLUS and CIRRUS cards for VISA, MasterCardMaestroCashpointJCBChina UnionPay and Diners Club.

Foreign Exchange Rates

These include ANZ Bank Lao Australia New Zealand Banking GroupBCEL Banque pour le Commerce Exterieur Lao Lao Government main commercial bankBanque Franco-Lao BFL Joint Development Bank JDBLao Development Bank LDB and Phongsavanh Bank PSV. The Bank of the Lao PDRthe nation's central bank, announced in a suspension until of the establishment of new commercial banks in Laos, as it evaluates the current situation in the country's banking industry.

The number of banks in Laos has increased from 12 in to around Existing banks were able to continue expansion within the country. Most other banks are joint ventures with foreign partners including Chinese, Malaysian, South Korean, Vietnamese, Cambodian and French and some offer MasterCard and VISA debit and credit cards to their customers, and accept international cards. Thai banks in Laos are not linked to the Thailand banking system or ATM network. Thai VISA and MasterCard cards can of course be used at any bank with an international ATM card service.

While several Lao banks have branches and ATMs some are for domestic cards in most if not all provincial towns, others are located in Vientiane and some cities and towns only. See also Banks, Banking, ATMs below for transaction limits etc. If you are planning a visit to Laos, your entry point is most likely from Thailand.

Thai baht can be used all over Laos, making it a useful currency to carry or exchange. However, having some US dollars in cash will save you money at the border. Paying in baht is possible and convenient, but it costs more than paying with US dollar bills.

The kip rate is set by the government against a basket of currencies, reflecting movement of the US dollar against the Thai baht and others. Since significant devaluation after the Asian economic crisis untila USD remains around 8, kips. See the daily rates table on the right for other main currencies; more at the foot of the page about Lao currency history.

Paying with cash in the Lao PDR can be confusing for the first-time visitor. Due to the tiny value of one kip, three currencies are in common use in Laos. Purchases are supposed to made in Lao kip and official bills and receipts are likely to be in kips. However, higher value items from tourist hotel rates to vehicles and properties are quoted and may be paid for with US dollars or Thai baht in cash or converted back to kips at the current exchange rate.

The seller will usually show you the converted price on a hand calculator. Caveat emptor buyer beware: That applies anywhere — not only in Laos! Hotels, convenience stores and restaurants with computerized POS point-of-sale equipment may print a cash slip or bill showing the total in the three main currencies, making it easier to understand, but the rates may also be in their favour.

Change will normally be given in kip, but you can also ask for baht or dollars — a good idea when your Lao visit is nearly over. To convert Lao kips to Thai baht easily, ignore the zeroes and multiply by 4; e. See the table for main currency rates from BCEL; these may differ slightly with other banks including the Bank of the Lao PDR; rates for large transactions may be negotiated; there is also a link to Bangkok Bank Thai baht exchange rates for different currencies.

Unless you want to keep Lao banknotes as souvenirs, change your kips back into baht or dollars BEFORE you leave. You could also try at the bus station near the Friendship Bridge.

In Bangkokthe train, bus station or airport where people on their way to Udonthani, Nongkhai or Vientiane might change Lao money for you, but expect a bad rate. See more TIPS below. Lao banking centres around three all- or part-government-owned banks: BCEL is also the main Lao commercial bank with its headquarters on Pangkam Road near the Mekong River. They also offer a gold trading service for account holders; bank visit or fax required for transactions.

Foreigners need a suitable valid visa.

ATM scammers are active in both Laos and Thailand. Cards have been copied and user keystrokes photographed at certain BCEL machines.

As is advised anywhere, cover your fingers when entering a PIN at any ATM and report any suspicious activity. Most banks are near the Morning Market in Lane Xang Avenue and the street nearby, while BCEL is near the Mekong on Pangkham Road. See below for a list of most Vientiane and Lao banks or representative offices, with contact details. Laos banking hours are Monday through Friday - 8. Reduced staff during their lunch break which in Laos can be anywhere between Laos has several banks with international ATMs including ANZ Laos, JDB, BCELBFL, LDB and PSV which accept PLUS and CIRRUS network cards for VISA, MasterCard, and possibly JCB, Discovery and Diners Club.

In BCEL ATMs added China UnionPay cards. There are many ATMs in Laos now, with at least one international ATM in most towns. Credit card cash advances can be obtained in other provinces from bank branches and exchange kiosks. Phongsavanh Bank ATM cards may now be used for cash withdrawal queen victoria market opening hours anzac day account balance checking at Bangkok Bank ATMs in Thailand.

A reciprocal arrangement is planned for Bangkok Bank domestic card holders in Laos at Phongsavanh Bank ATMs. Provincial branches of PSV. ATMs dispense local currency kips in denominations between 10, andtheLao kip note is now in circulation with transaction amounts, fees and daily limits varying slightly between banks. There is an up to dependent on card issuer limits 8 million kip daily withdrawal limit per card through the Lao ATM network.

BCEL, LDB and PSV offer 1 million kip at 20, kip per transaction; PSV allows 5 million per day; JDB charges 30, kip per 1 million kip transaction, with a 4 or 5 million kip per day maximum depending on card issuer. Note that your own bank or card issuer may charge extra for foreign transactions too. Check before you leave home to get the best ATM card for use abroad.

Some overseas banks refund the Lao bank ATM charges. JDB ATMs are mostly in Vientiane; there is a list of ANZ LaosBCEL and PSV bank ATMs. When attempting to withdraw money from an overseas ATM, always get a printed receipt for transactions and contact your own bank promptly nature forex 2ch you have a problem.

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If no receipt is given or your card is retained in the dispensermake a note of the time and date and teller location. In the event of non-payment or a retained card, call the Lao bank immediately using the phone number displayed at the ATM. Even inLao ATMs may occasionally fail to complete transactions for various reasons and different error messages depending on the bank's user screen.

Binary options trading system striker 9 this will be across the entire Lao network and you may not be able to withdraw cash from an ATM in Laos during a particular period of several hours.

Brecon livestock market report an ATM withdrawal 'goes through' but no cash is issued by the machine, or it fails with an error message any receipt should show a zero amount withdrawal it should be reversed automatically by your bank and appear as a credit on on your online banking statement within a couple of days.

If this does not happen, contact your bank direct. Local bank staff will probably be unable to offer much assistance. A particular bank's ATMs may go offline or out of service temporarily.

In the Lao PDRpaying cash is still bestin kipbaht notes or small US dollar bills. Upcountry, especially in remote villages it's advisable to pay in kip. In the cities, many hotels, tour operators and restaurants quote prices in dollars, or in forex overdrive myfxbook 2013 three currencies.

Before crossing the Friendship Bridge into Lao, get some baht from an ATM in Nongkhai outside banks and convenience stores or at the Friendship Bridge itself, where the ATMs are near Thai Exit Immigration. Baht are readily accepted for purchases in Lao and may be less confusing earnest money return illinois tourists than kips which are available from ATMs on the Lao side of the bridge ; also on the main routes into Vientiane itself.

Note that not all banks can accept foreign cards. Occasionally a particular ATM or group of them will give error messages like "unable to process your siam commercial bank forex rates, or "ask your bank to link to our network".

These are temporary Lao network 'outages' ; try later or use another ATM or a different bank's cash machine. LAO ENTRY VISA TIP: Arbitrageurs in stock market can also pay in Thai baht, but at a poor exchange rate.

If you're visiting Cambodia before going to Laos, you can get US dollars from some ATMs in Siem Reap Angkor Wat and Phnom Penh.

Western Union 's coverage is extensive throughout most of Asia, and Laos is no exception, with over agencies in banks and even small indexes in stock market officesas well as the Vientiane Main Post Office opposite the Morning Market Talat Sao.

MoneyGram operates through several local Lao and Thai bank branches. Transfers Between Lao Banks and the new Lao Chermside westfield anzac day opening hours Exchange A system may now be in place allowing cash to be transferred electronically between Lao banks including the stock exchange.

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This will ATMs more flexible and share transactions easier. At present, cash has to be withdrawn at one bank and physically deposited at another. THAI BANK ACCOUNTS IN LAOS. For Thailand bank account holdersopening an account with the Vientiane branch of a Thai bankdoes not give access to Thailand's banking network or any noticeable benefit — unless anyone knows otherwise.

Apart from local ATM fees, Bangkok Bank and maybe others charge baht per transaction. Foreign banks in Laos were until mid not allowed to have ATMs except for domestic accounts. So far this is the only branch outside the capital, although there are plans to open in Luang Prabang.

There may be more in the future. Rates for USD or THB deposits are usually lower than for Lao kips. See Lao bank websites listed below. However, non-Lao citizens need a current work permit to open fixed deposit accounts with a Lao bank. Banks everywhere use different compounding periods for calculation of interest on fixed term deposits.

Lao banks range from once annually to daily balance. Compare them for the best interest and confirm their interest rate structures. It can make a difference to the return on larger deposits. For transfers to a Vientiane bank account from overseas it may be possible via a bank account in Thailand SWIFTthen arranging a transfer to Laos, but you should check with the Thai bank and compare the charges and degree of difficulty with a direct transfer using an overseas correspondent or intermediary bank direct.

The cheapest way to get money into Laos is by ATM ; For visitors from Thailand, however, as the banks charge baht per transaction and use bad exchange rates, it's far better to bring baht in cash or get baht from a Thai ATM before crossing the border. Use baht for purchases in the Lao PDR or change them locally. Bangkok Bank account holders in Thailand can transfer money to the Vientiane Branch for collection by a non-account holder, simply by providing the name and passport number of the beneficiary.

Funds will be available in kip, baht or US dollars. Foreigners can open US dollar, baht or kip accounts at this branch too. Thai banks do not have their own ATMs in Laos. However, any bank's VISA or MasterCard can of course be used in Laos ATMs where PLUS or Cirrus network cards are accepted. Visa or MasterCard logos are displayed where accepted including ANZ LaoBCELBFLJDB and Phongsavanh bank ATMs; also inside bank branches and licensed money exchanges.

BCEL accepts incoming foreign transfers in US, Canadian, Australian, Singapore and Hong Kong dollars, pounds sterling, euros, Japanese yen and Thai baht. Bank drafts banker's checks for foreign countries including Thailand are available from BCEL 2nd floor in the new HQ. Certain other banks may offer this service. MoneyGram agencies at BCEL, Thai Military and Siam Commercial Banks or Western Union with agencies at banks and post offices, may in some instances be cheaper.

As money is must be transferred to Laos in a major foreign currency, it can be kept in that currency or exchanged at a local bank for Lao kip. Coins with face value up to 50 'old' kips were issued between and and no longer in circulation. Currently, Lao banknote denominations are from to'new' kips. As inflation increased, the buying power of the, and kip denominations in circulation at the time became lower and lower.

Thick wads of notes were needed for even small purchases.

Thailand Baht, Money Transfers, and Banking Accounts

This is one of the reasons the Thai baht and US dollar are still accepted today; another is the fact that Lao kips cannot be used or exchanged outside the country see Lao kip tip above. By10, and 20, Lao kip notes had been introduced, followed by 50, in Inblue-themedkip commemorative bank notes were issued for Vientiane's th Anniversary as the Laos capital and available only at banks now also in circulation.

Officially released on February 1sta green-themedkips note printed in Russia in was being dispensed by some Lao ATMs from March of that year.

See some Lao bank note images on the right. Note that apart from denomination, serial number and date of issue, only Lao text no Western characters appears on Laotian bank notes. Truly a ' local currency '. Lao Currency Exchange Rates — Back inone US dollar bought 10, kip, with 20, kips to the British Pound GBP and 15, to the euro EUR ; one Thai baht THB was worth kips. It has been around 8, from late and below for much of and which it began at 8, and varied between 8, and 7, Inthe Lao kip stayed near 8, to the USDwith a brief 'dip' to 8, in August, ending the year with the dollar at 8, kips.

For cross-reference, currently there are 34 Thai baht to a US dollar and a British pound is worth 44 baht. See more currency exchange rates in the table on the right above. Banking Hours in Laos: Monday to Friday - 8.

Money Exchange booths are open outside these times. The list includes locally-registered banks with Thai, Malaysian, Korean, Vietnamese, Cambodian, Chinese and French joint ventures with private and government partnerships. Some may have direct transfer facilities with their originating countries. Most use 'correspondent' or intermediary banks for SWIFT transfers. Banking in Asia Page. Lao banks with international ATM card service List of Lao banks.

LAK kip Rates for Monday, Jun 5, 1 USD 1 EUR 1 GBP 1 AUD 1 CAD 1 JPY BCELBank LPDR Bangkok Bank Baht Rates Currency Converter. LAK kip Rates for Monday, Jun 5,