Banks & ATMs

[kinglear#1]

OK, I am terrible when it comes to finances in general, but would I be right in saying the cheapest way for me to move my cash from the UK, and access it in Cambodia will be a wire transfer?

My idea is to open a bank acc with free ATM withdrawls in Phnom Penh when I arrive, then get the money wired over from a family members bank in the UK. The amount will be £3000-£5000.

Please let me know if this is a good/bad idea anyone who is in the know. Thanks.

Yes. Many banks here have SWIFT facilities and it is fairly cheap and fast (typically 2-3 days). As for converting GBP to USD, the banks handle that as well, included in the SWIFT transfer fee. I can speak for the banks I use, anyway, but I think ANZ have the same/similar services.

[SunSan]

Would I be right in saying the cheapest way for me to move my cash from the UK, and access it in Cambodia will be a wire transfer?

The amount will be £3000-£5000.

No, for that amount it is easier to carry it in your pocket. How do you intend to convert from GBP to USD ?

Agree, hand carry it. Open account here, deposit.

[Karong]

Would I be right in saying the cheapest way for me to move my cash from the UK, and access it in Cambodia will be a wire transfer?

The amount will be £3000-£5000.

No, for that amount it is easier to carry it in your pocket. How do you intend to convert from GBP to USD ?

Agree, hand carry it. Open account here, deposit.

Yeah and what happens if somehow something happens to it between UK - party in Thailand for a week - Cambodia?

[SunSan]

Then it's gone. Control yourself. Wait until you're here. Much better parties in Cambodia then in Thailand.

[hanac2001]

Im Moving over next few weeks as well, Best to get it all on a Fair FX Card and then open a Cambodian bank account ?

[mrflipper]

what about us dollar trav cheques.?... surely its better 2 take them in2 cambodia than travelling thru thailand with sterling in ur pocket ??

[altmtl]

Hi this is my first post...

So in a nutshell I will be arriving from Trat and ending up in Kampot/Kep... I'll have some US$ to start, I read that ATM's dispense US$, so what is the max. withdrawal amount? I saw another post about SBS having no ATM transaction fee? Are there others? I have a TD Canada Trust debit card & will be charged $5 by them regardless. I also have some US TC, but I here the commission is rather high? So what would be the best way to go about this... I'm staying 2 weeks at the most.

Thanks for your help

[Khmeria]

For Americans, try Charles Schwab.

I pay nothing to use my Atm/Visa card all over the world. They refund all fees foreign banks charge to use ATMs as well.

Obviously not good for local deposits, but unbeatable for an ATM/visa card.

[altmtl]

That doesn't really answer my questions? -

[BubbaRamDas]

The amount you can draw each day depends on your bank not the bank here. I can draw more out of my Acledea account here daily than from my overseas account, because of their limit. Most banks here will only accept visa cards, not mastercard, but some do. The fees depend on your bank and the bank you draw it at. They vary a lot. Most will warn you about the charges (Acleda does).

[altmtl]

My debit card is not visa or mastercard - my bank has a 5$ fee - it is on the PLUS system - I was told in another post that Canadia bank does not charge local fees on international debit cards - In Canada a debit card is not a credit card like elsewhere, they are different.

[Lucky Lucan]

In Canada a debit card is not a credit card like elsewhere, they are different.

A debit card is not a credit card anywhere that I know of.

[cambod]

In the States I've heard of 3 different types..

Credit card (credit through mastercard, Visa, Amex, Discover, etc)

Debit card (through and connected to your bank account, BUT has a visa/mastercard symbol on it, and can be used like a credit card, like when u sign for it, OR enter the pin and use it like a debit/bank card)

Bank card (through ur bank but NO mastercard/visa symbol and can only be at ATMs that specifically allow withdraws with those types of cards and always for a hefty fee and always requires a pin)

[BillyB]

In the States I've heard of 3 different types..

Credit card (credit through mastercard, Visa, Amex, Discover, etc)

Debit card (through and connected to your bank account, BUT has a visa/mastercard symbol on it, and can be used like a credit card, like when u sign for it, OR enter the pin and use it like a debit/bank card)

Bank card (through ur bank but NO mastercard/visa symbol and can only be at ATMs that specifically allow withdraws with those types of cards and always for a hefty fee and always requires a pin)

Amex is normally a Charge card, not a credit card.


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[cambod]

In the States I've heard of 3 different types..

Credit card (credit through mastercard, Visa, Amex, Discover, etc)

Debit card (through and connected to your bank account, BUT has a visa/mastercard symbol on it, and can be used like a credit card, like when u sign for it, OR enter the pin and use it like a debit/bank card)

Bank card (through ur bank but NO mastercard/visa symbol and can only be at ATMs that specifically allow withdraws with those types of cards and always for a hefty fee and always requires a pin)

Amex is normally a Charge card, not a credit card.


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Oops, u're right! They told me I have an unlimited credit line, but I'm sure I couldn't put a million dollar gold bar on it.... I need to cancel that one. I've been paying $125 a year for it but haven't used it in several years...