I'm thinking of capitalising on the relatively weak pound by sending a six figure sum back to the UK. I have some uses for it back there, and I'm confident sterling will rebound eventually, so it's a win win. I hope.
I know there are no problems sending up to $9999 out of Cambodia, but am not sure what requirements are needed for larger sums.
Does anyone have any experience of this?
Conditions for sending larger sums out of Cambodia
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- Jacked Camry
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You can send as much as you like, so long as you have a reasonable explanation of where the funds came from and whom you are sending them to and why. Shouldn't be difficult.alanclarke72 wrote:I'm thinking of capitalising on the relatively weak pound by sending a six figure sum back to the UK. I have some uses for it back there, and I'm confident sterling will rebound eventually, so it's a win win. I hope.
I know there are no problems sending up to $9999 out of Cambodia, but am not sure what requirements are needed for larger sums.
Does anyone have any experience of this?
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- Wun Gwo Pee
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Thanks JC. The funds have been sat here for three years, and I'll be sending them to an account in my own name, so it sounds like i should be ok.
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- My Only Friend is my Computer
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Please report back and let us know how it goes.alanclarke72 wrote:Thanks JC. The funds have been sat here for three years, and I'll be sending them to an account in my own name, so it sounds like i should be ok.
There are only 10 kinds of people in the world; those who understand binary and ...
Agree - the bank simply has to report the transfer to the National Bank of Cambodia once 10k or over; the bank itself is more likely to be interested than the NBC though, especially international banks that may cop money laundering fines in their home countries. Since you're sending it to yourself I can't see there being any problem whatsoever. I send a decent figure each month back to the UK too, never had any problems or questions asked; just tick the standard "Expatriate payment to home country" box on the bank's internet banking & job is done - yours would have to be done in branch no doubt, but should just be a case of form filling.
Meum est propositum in taberna mori,
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
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- MerkinMaker
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alanclarke72 wrote:I'm thinking of capitalising on the relatively weak pound by sending a six figure sum back to the UK. I have some uses for it back there, and I'm confident sterling will rebound eventually, so it's a win win. I hope.
I know there are no problems sending up to $9999 out of Cambodia, but am not sure what requirements are needed for larger sums.
Does anyone have any experience of this?
Just curious. How will you send it? Regular bank transfer? Have you looked at Transferwise or Worldfirst? Those are just two that came to mind. Might be worth considering.
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- My Only Friend is my Computer
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Transferwise don't support Cambodia.JJones wrote:alanclarke72 wrote:I'm thinking of capitalising on the relatively weak pound by sending a six figure sum back to the UK. I have some uses for it back there, and I'm confident sterling will rebound eventually, so it's a win win. I hope.
I know there are no problems sending up to $9999 out of Cambodia, but am not sure what requirements are needed for larger sums.
Does anyone have any experience of this?
Just curious. How will you send it? Regular bank transfer? Have you looked at Transferwise or Worldfirst? Those are just two that came to mind. Might be worth considering.
There are only 10 kinds of people in the world; those who understand binary and ...
Hopefully, RBD will find this thread and respond since he wrote a few months ago unprompted:
"However since your problem might not be getting funds INTO the country, but OUT OF the damned country when you leave (for which the banks here can be a pain in the ass if dealing with large amounts - and their opinion of "large" can be very small indeed)..."
"However since your problem might not be getting funds INTO the country, but OUT OF the damned country when you leave (for which the banks here can be a pain in the ass if dealing with large amounts - and their opinion of "large" can be very small indeed)..."
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- Wun Gwo Pee
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walkjivefly wrote:Please report back and let us know how it goes.alanclarke72 wrote:Thanks JC. The funds have been sat here for three years, and I'll be sending them to an account in my own name, so it sounds like i should be ok.
All sorted, and no problem at all as I was sending to an account in my own name. ABA handled it professionally and with no fuss.
Good to hear it went well.
In regards to this: "I'm confident sterling will rebound eventually." I think not. Decisions are being made to move thousands of jobs out of England as we speak, and this process is just getting started; I see Scotland splitting and Northern Ireland should do the same really, to prevent having to put up borders again with the Republic of Ireland, etc. ... I also would not mind seeing the Euro buying $1.60 as it did briefly in 2008 but it ain't gonna happen in the foreseeable future.
In regards to this: "I'm confident sterling will rebound eventually." I think not. Decisions are being made to move thousands of jobs out of England as we speak, and this process is just getting started; I see Scotland splitting and Northern Ireland should do the same really, to prevent having to put up borders again with the Republic of Ireland, etc. ... I also would not mind seeing the Euro buying $1.60 as it did briefly in 2008 but it ain't gonna happen in the foreseeable future.
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