💰 Banking & Money
How to receive money, open accounts, and manage finances in Laos.
Receiving Money from the USA
Family can send money through these services:
Western Union: Widely available. Fast. Pickup at agents across Laos.
MoneyGram: Similar to Western Union. Check for lower fees.
Wise (formerly TransferWise): Best exchange rates. Requires bank account.
Remitly: Good for regular transfers. App-based.
Xoom (PayPal): Fast delivery. Good for first transfers.
Opening a Bank Account
To open a basic account in Laos you typically need:
- Valid Lao ID or passport
- Proof of address (rental agreement)
- Starting deposit ($50–200 equivalent)
- BCEL and Lao Development Bank have branches nationwide
Currency
The Lao Kip (LAK) is the official currency. USD and Thai Baht are widely accepted in cities. ATMs are available in all major cities. Exchange rates vary — shop around.