Anyone want to transfer money from UK to here? we can do a mutual private exchange and save on fees

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Anyone want to transfer money from UK to here? we can do a mutual private exchange and save on fees

Postby damaja » Fri May 11, 2018 1:28 pm

If you anyone is looking to transfer money from the UK to here in the next month (May/June 2018), we could do a mutually beneficial exchange - domestic transfers - as I want to transfer money from here to the UK.

I've done it before with a guy who used to be providing it as a service here a couple of years ago - user: Spartan - and it worked out well. But he's left Cambodia now, it seems.

It was simply done by making an online banking transfer between two banks in the UK, and simultaneously transfer between banks here, or cash in hand - obviously both people present and watching and checking all funds completely transferred etc., before concluding the transaction. Saved on transfer fees and did it at the official exchange rate. Win-win.

Message me if anyone wants to do it.

P.S. I'll not be replying to any jokers who want to suggest that I transfer first and then... etc. etc. blah, blah blah. So, best save yourself the bother. :eyes:
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Re: Anyone want to transfer money from UK to here? we can do a mutual private exchange and save on fees

Postby ReasonstobefearfulP3 » Fri May 11, 2018 3:39 pm

How much you talking?

Not sure I could ever trust anyone enough to do this but it is a nice thought.

Even when sitting together, surely the one seeking the sale should be the person that sends the money first, Once received the other can transfer the other amount (all whilst next to each other)
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Re: Anyone want to transfer money from UK to here? we can do a mutual private exchange and save on fees

Postby damaja » Sun May 13, 2018 3:25 pm

ReasonstobefearfulP3 wrote:How much you talking?

Not sure I could ever trust anyone enough to do this but it is a nice thought.

Even when sitting together, surely the one seeking the sale should be the person that sends the money first, Once received the other can transfer the other amount (all whilst next to each other)


I'm looking to transfer 10-20k.
Obviously trust is a fundamental requirement, and I'd want to also make sure I can trust the person exchanging with. It would be necessary to provide good proof of identity and residence etc. on the part of both parties.
The bank transfer in the UK would obviously need to be done online, but the US$ provided in exchange for the GBP transferred there, can be either also a local online bank transfer, or cash - held in hand, at the point that the exchange is done online. I'd want to do it at my apartment in that case. Afaik, bank transfers are irreversible, so in the case of the cash, as soon as the funds clear and show in the UK account online, the cash gets handed over instantly.

As mentioned, i did it before with the guy that was doing it as a service here for a while - Spartan (Martin Kendrik) - and I was super wary at first, but we did it and it was quick and legit. And several other people reported here that they had the same experience - save hundreds of dollars in avoiding the transfer fees and padded exchange rates the banks and other processes take off you.

Anyway, PM me if you're up for it within the next couple of weeks.
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Re: Anyone want to transfer money from UK to here? we can do a mutual private exchange and save on fees

Postby Kachang » Sun May 13, 2018 5:32 pm

A SWIFT bank transfer from mainland Europe costs me about 40 EURO if I transfer 20k (and that's a transfer deep into the provinces, not to Phnom Penh) and I wouldn't think of going through all the hassle and taking the risks just to save that amount. But to each his own.
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Re: Anyone want to transfer money from UK to here? we can do a mutual private exchange and save on fees

Postby damaja » Mon May 14, 2018 12:16 am

Kachang wrote:A SWIFT bank transfer from mainland Europe costs me about 40 EURO if I transfer 20k (and that's a transfer deep into the provinces, not to Phnom Penh) and I wouldn't think of going through all the hassle and taking the risks just to save that amount. But to each his own.


the cost of transfer isn't just the transfer fee. many banks in the UK also charge an inward remittance.
And youre kidding yourself if you think they're not taking money in the padding of the official exchange rate - you *never* get the official prevailing rate, and the rate doesn't match both ways, obviously this is the bank taking a cut in %, not a flat fee.

And what do you know about "hassle and risk" if you haven't done it? When I did it before, it was easier and quicker than doing it at the bank!
And I've already mentioned about wariness, and that trust requirements need to be met, naturally. Not like it's going to take place in some shady corner of a bar.
I'm a long-time resident of PP. Not very active here, but been a member for years. Have public social media profiles and will happily provide various credentials etc., in person, to anyone wanting to do it, as I'd also expect same to be reciprocated by them.
If you purchase something high value here, like a car or whatever, in a private trade, you take a damn sight more risk, imho.
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