In the future, I will have Euros wired to me and in order to avoid a rather high exchange fee levied by the sending institution, I will need to open a Euro account in Cambodia. Now I know that at least 3 banks offer such a thing: AMB, ACLEDA & CIMB.
What I need is:
* Ability to receive a bank wire into a Euro nominated account
* Incoming wire fee (who has none/the lowest)?
* Exchange fees (which bank has reasonable ones? I know AMB, for example, will only let you withdraw in $US)
* Other fees
* Good experiences with the bank in general
I doubt that there will be any interest, so that's not important, the point is mostly to avoid being hosed by exchange fee charged at the source.
Thanks
Best Bank For A Euro Account
Judging by the lack of response to your query, you will be one of the few people on this forum with a Euro account in Cambodia. I can only comment on multiple in-bound transfers to an Acleda USD account (up to $20k a shot):
1. Transfer charges on this side have been minimal ($10 per transfer);
2. Have never had an issue with any transfer - funds arrive very quickly 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), if you are to receive sizeable amounts I would suggest opening an off-shore account in a secure destination rather than an account here. You can then transfer over smaller sums of money as you wish. Euro rates in Acleda are negative, I think, so you would also avoid the cash holding expense.
1. Transfer charges on this side have been minimal ($10 per transfer);
2. Have never had an issue with any transfer - funds arrive very quickly 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), if you are to receive sizeable amounts I would suggest opening an off-shore account in a secure destination rather than an account here. You can then transfer over smaller sums of money as you wish. Euro rates in Acleda are negative, I think, so you would also avoid the cash holding expense.
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