Best bank for outward int'l money transfers
Best bank for outward int'l money transfers
Have been checking around with ACLEDA, ANZ, Canadia, FTB, and Campbu... Best rate seems to be for $9,999 from ACLEDA at $16 for that amount. This is for USD transfers from Cambodia to the US. My bank in the US doesn't charge to receive transfers.
It seems other posters have mentioned that there are sometimes fees collected by intermediaries, but I have never experienced this. Is this common?
My other option is to just have my salary paid in the US, which will cost me nothing as my US bank doesn't charge for incoming. And then live off the savings I already have in Cambodia until it runs out.
Does anyone have any thoughts on this? So far I haven't found any really good deals.
It seems other posters have mentioned that there are sometimes fees collected by intermediaries, but I have never experienced this. Is this common?
My other option is to just have my salary paid in the US, which will cost me nothing as my US bank doesn't charge for incoming. And then live off the savings I already have in Cambodia until it runs out.
Does anyone have any thoughts on this? So far I haven't found any really good deals.
Thanks, save $1 from ACLEDA. Any knowledge on the alleged intermediate bank charges?
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- K440 Old Cunts Club
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ANZ Royal Priority Banking offers a much reduced rate on both incoming and outgoing transfers to all its members. I looked around a few years ago and it was easily the cheapest then. I seem to remember it was half the amount of downstairs (normal ANZ members), I can probably find out the exacts rates if you want.
My posts are just jokes, maybe they're rude, offensive, and politically incorrect. They're not my opinion, viewpoint, idea, or judgement, but they're just fucking jokes so lighten up.
ANZ Royal Priority... sounds expensive just to be a member. I compared 5 banks for fees on various things I'm interested in, ANZ was the worst on almost every aspect. Their service seems pretty good thought, and internet banking is solid, if that's what you're looking for.
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Its free, well sort of.
Their priority service is exceptional and instead of queuing up downstairs with the public you have dedicated service desk, direct to a manager, and coffee and tea serviced while you wait. It's designed for the Ochna crowd but all you need to do is deposit 25K (I think maybe more now) to access upstairs and get all the benefits.
Their priority service is exceptional and instead of queuing up downstairs with the public you have dedicated service desk, direct to a manager, and coffee and tea serviced while you wait. It's designed for the Ochna crowd but all you need to do is deposit 25K (I think maybe more now) to access upstairs and get all the benefits.
My posts are just jokes, maybe they're rude, offensive, and politically incorrect. They're not my opinion, viewpoint, idea, or judgement, but they're just fucking jokes so lighten up.
^ it's most definitely not a free service. Your 25k will make you over $800 per year in ABA'S flexi deposit account versus less than half of that at ANZ. Most expensive cup of coffee you ever drank.
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I can only speak for myself and my situation but trust me, the preferential rates on inward/outward transfers given from ANZ priority banking, easily makes up for 800usd interest per year your get from Kazakhstan.Bosco wrote:^ it's most definitely not a free service. Your 25k will make you over $800 per year in ABA'S flexi deposit account versus less than half of that at ANZ. Most expensive cup of coffee you ever drank.
Oh and the better looking banking girls are moved upstairs to brighten up the place.
My posts are just jokes, maybe they're rude, offensive, and politically incorrect. They're not my opinion, viewpoint, idea, or judgement, but they're just fucking jokes so lighten up.
ANZ Royal's standard fees to send money out are minimum $20 in commission plus a $15 'cable' charge. Even if your so called prestige banking gets you that at half price it is still more expensive than CAB, ABA etc. Don't be fooled by their marketing.
I agree with Bosco... $15 for $9,999 at ABA, $16 for $9,999 at ACLEDA, even if it was $0 for this ANZ Royal Priority, you'd have to be transferring a lot of money to make it worth the losses in interest. 4-5% fixed term interest rates on US dollar vs. 0.75% for a normal bank account. The difference in those interest rates is a loss of $1062 per year for a 25K deposit.
And that's assuming ANZ account s pay 0.75% interest, which I forgot to ask. Noting how everything else at ANZ is a rip-off, it wouldn't surprise me if it's less.
And that's assuming ANZ account s pay 0.75% interest, which I forgot to ask. Noting how everything else at ANZ is a rip-off, it wouldn't surprise me if it's less.
And what about AMK bank and PRASAC bank? Are they good?
If I read this good the best banks to go for at the moment are:
CAB
ABA
ACLEDA (Vision fund)
AMK ???
PRASAC???
(two more that I don't know if they are good: KREDIT and SATHAPANA bank, which are both from the NBC, National Bank of Cambodia)?
If I read this good the best banks to go for at the moment are:
CAB
ABA
ACLEDA (Vision fund)
AMK ???
PRASAC???
(two more that I don't know if they are good: KREDIT and SATHAPANA bank, which are both from the NBC, National Bank of Cambodia)?
AMK, Prasac, Vision Fund, Kredit and Sathapana are all Micro Finance Institutions. Think credit unions, international transfer cannot do.
oh, ok, didn't know that.
But can I do national transfers with internet banking with these MFI?
For example can I make a national transfer from KREDIT to an account I have with ABA or with CAB?
I also read somewhere that with AMK bank you can do money transfers, don't know if international transfer is possible. I believe they even have ATM machines in Cambodia.
But then again, I will just transfer it to ABA and then do the international transfer.
Or is this a bad idea?
I just opened the website from Prasac,
they also have internet and mobile banking, but again, they write nothing about international transfers. Don't know if they have this service, but I am interested to know more about what MFI allows internet banking with international transfers.
But can I do national transfers with internet banking with these MFI?
For example can I make a national transfer from KREDIT to an account I have with ABA or with CAB?
I also read somewhere that with AMK bank you can do money transfers, don't know if international transfer is possible. I believe they even have ATM machines in Cambodia.
But then again, I will just transfer it to ABA and then do the international transfer.
Or is this a bad idea?
I just opened the website from Prasac,
they also have internet and mobile banking, but again, they write nothing about international transfers. Don't know if they have this service, but I am interested to know more about what MFI allows internet banking with international transfers.
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