Questions about Banking

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Djimbe
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Questions about Banking

Post by Djimbe »

My friend and I will be moving to Cambodia in about a month from America. We both have bank accounts with Bank of America, and we currently are receiving a regular income from them.

I know that there are transaction fees for using ATMs, and I also know that Bank of America charges $45 for a bank transfer fee. My question is, what is the smartest way to set up banking in Cambodia? Is Canadia bank still the best option (it seems to be the only one I see expats talk about personally using)?
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Jamie_Lambo
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Re: Questions about Banking

Post by Jamie_Lambo »

Djimbe wrote:My friend and I will be moving to Cambodia in about a month from America. We both have bank accounts with Bank of America, and we currently are receiving a regular income from them.

I know that there are transaction fees for using ATMs, and I also know that Bank of America charges $45 for a bank transfer fee. My question is, what is the smartest way to set up banking in Cambodia? Is Canadia bank still the best option (it seems to be the only one I see expats talk about personally using)?
most expats i know (including myself) use ABA, Canadia isnt a bad option either though from what ive heard

ABA ATMs are everywhere and one of the most popular around
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Anchor Moy
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Re: Questions about Banking

Post by Anchor Moy »

Second JL's vote for ABA. We checked out all the Cambodian banks and that was the best deal for us overall.
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PSD-Kiwi
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Re: Questions about Banking

Post by PSD-Kiwi »

ABA for sure, they have a great online banking system.
Luigi
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Re: Questions about Banking

Post by Luigi »

https://www.ababank.com/about-aba/about-us/

https://www.canadiabank.com.kh/en/

Maybe not everything you might want to know about your banking institution but a good start.
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lostjeremy
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Re: Questions about Banking

Post by lostjeremy »

The smartest thing is to close your BoA account and open a Charles Schwab bank account before u leave to continue getting your US income deposited into. Zero foreign transaction or ATM charges with Schwab (they refund all at the end if each month). I've been using them for years for that exact reason.

I don't care if the ATM says there us a $50 charge to use my card because I know I'll get it back on the 30th of each month like clockwork.



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Luigi
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Re: Questions about Banking

Post by Luigi »

[quote="lostjeremy"]The smartest thing is to close your BoA account and open a Charles Schwab bank account before u leave to continue getting your US income deposited into. Zero foreign transaction or ATM charges with Schwab (they refund all at the end if each month). I've been using them for years for that exact reason.

I don't care if the ATM says there us a $50 charge to use my card because I know I'll get it back on the 30th of each month like clockwork.


^^^Best answer here.

I've been with Schwab now 6 yrs. Never a problem. Excellent & attentive staff. Want to talk with a human? No problem ever.
Move $ between accounts with a key stroke. Move $ from country to country, no problem.

BoA my former bank gave me nothing but grief. When they acquired Merrill Lynch my former broker I cut the cord & never looked back. :hattip:
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