Best banks in Phnom Penh for US expats to open an account?
- newnewnewbie
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AFAIK, US social security for retirees with an address in Cambodia, can only be wired to Cambodia Public Bank. This according to an official from the Social Security office in the Philippines.
- raendi
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Canadia Bank atm:s don't give anymore 10, 20, 50 bills only 100$ (and riel 20000 & 50000 for those who have riel account). Not sure about main branch atm's at Monivong.
Pardon my engrish, thanks you.
Yeah, sh1t. Let AEON become happy with the USD 100 bills ......
And also sh1t, I can not retrieve Riels with a USD account .....
Family also very unhappy, because they want to retrieve small amounts......
General use, good online app and atm availability: ABA
Best combination of high interest + good online app and lots of locations*: AMK
Trade finance and inward transfers: PPCB
To avoid:
Maybank (their trade finance sucks)
Bred (they are the most strict and ask a ton of questions about your international operations, but they are the only bank able to cash European bank's checks maybe it's good if you are an NGO or similar)
Acleda (all around inferior and 20 years behind it's competition)
* Amk has few branches and a limited number of ATMs but thousands of small AMK points even in the most remote countryside that practically act as ATMs.
P.s. For trade finance let me know which bank you guys consider best.
Best combination of high interest + good online app and lots of locations*: AMK
Trade finance and inward transfers: PPCB
To avoid:
Maybank (their trade finance sucks)
Bred (they are the most strict and ask a ton of questions about your international operations, but they are the only bank able to cash European bank's checks maybe it's good if you are an NGO or similar)
Acleda (all around inferior and 20 years behind it's competition)
* Amk has few branches and a limited number of ATMs but thousands of small AMK points even in the most remote countryside that practically act as ATMs.
P.s. For trade finance let me know which bank you guys consider best.
ATM's at the main-office in the Canadia Tower, neither do USD 10/20/50 any longer.
- ផោមក្លិនស្អុយ
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I have a usd ABA account and regularly withdraw Riel from it.
Are you sure you can't?
- Bong Burgundy
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Of course you can take Riel from an ABA ATM. It gives you the option (like all banks AFAIK).ផោមក្លិនស្អុយ wrote: ↑Mon Dec 28, 2020 6:40 pmI have a usd ABA account and regularly withdraw Riel from it.
Are you sure you can't?
Bringing the news. You stay classy, nas, Cambodia.
- raendi
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Yeah noticed this at saturday. Have to forget Canadia and start to try open account in ABA.v12 wrote: ↑Mon Dec 28, 2020 5:45 pmATM's at the main-office in the Canadia Tower, neither do USD 10/20/50 any longer.
Pardon my engrish, thanks you.
Yeah, I thought about that to.raendi wrote: ↑Mon Dec 28, 2020 9:31 pmYeah noticed this at saturday. Have to forget Canadia and start to try open account in ABA.v12 wrote: ↑Mon Dec 28, 2020 5:45 pmATM's at the main-office in the Canadia Tower, neither do USD 10/20/50 any longer.
However, I do think, it's not Canadia bank wanting this, though the Cambodian Government, wanting to get rid of the USD in their daily currency system.
Go to AEON, pay for $2 with a $20 note, and they stutter to get permission to give back the change in Riel.
So, I think, any change of bank will be useless, all banks will suffer from the same issue, now or just a little later.
Actually, I don't mind that much to get Riels for the smaller amounts. However, then the ATMs should spit out Riels, even when having a USD account.
Anyway, I just make AEON happy by buying for $10 and paying with a $100 note, right from the ATM.
- ផោមក្លិនស្អុយ
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As stated above, they do, why do you think that they don’t?
When you have a USD Canadia bank account, the Canadia bank ATM's do not give you Riels. I wish the ATM's would, though they don't (at least not last week, I tried).ផោមក្លិនស្អុយ wrote: ↑Tue Dec 29, 2020 5:59 amAs stated above, they do, why do you think that they don’t?
The reason why is not written on it, though some guessing is, that the ATM's will need to get your approval for the exchange rate being used, and I do think, the Canadia bank ATM's aren't capable to handle that. Just guessing, though it seems pretty plausible to me.
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- ផោមក្លិនស្អុយ
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Well that is pretty shit. I wouldn't be with a bank for too long if they cannot easily provide low denomination notes.v12 wrote: ↑Tue Dec 29, 2020 1:16 pmWhen you have a USD Canadia bank account, the Canadia bank ATM's do not give you Riels. I wish the ATM's would, though they don't (at least not last week, I tried).ផោមក្លិនស្អុយ wrote: ↑Tue Dec 29, 2020 5:59 amAs stated above, they do, why do you think that they don’t?
The reason why is not written on it, though some guessing is, that the ATM's will need to get your approval for the exchange rate being used, and I do think, the Canadia bank ATM's aren't capable to handle that. Just guessing, though it seems pretty plausible to me.
I would change bank, if I would consider this a bank decision. I don't think it is, I do expect other banks to follow, so no help with changing banks .....ផោមក្លិនស្អុយ wrote: ↑Tue Dec 29, 2020 5:24 pmWell that is pretty shit. I wouldn't be with a bank for too long if they cannot easily provide low denomination notes.v12 wrote: ↑Tue Dec 29, 2020 1:16 pmWhen you have a USD Canadia bank account, the Canadia bank ATM's do not give you Riels. I wish the ATM's would, though they don't (at least not last week, I tried).ផោមក្លិនស្អុយ wrote: ↑Tue Dec 29, 2020 5:59 amAs stated above, they do, why do you think that they don’t?
The reason why is not written on it, though some guessing is, that the ATM's will need to get your approval for the exchange rate being used, and I do think, the Canadia bank ATM's aren't capable to handle that. Just guessing, though it seems pretty plausible to me.
The practical side is, that several family members will have to change to, to avoid the payment fees, when I send them their support money. So, it's a no-go.
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