Do any banks accept foreign cheques?

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explorer
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Australia

Re: Do any banks accept foreign cheques?

Post by explorer » Mon Mar 11, 2019 5:06 am

BKK Phil wrote:
Sat Mar 09, 2019 3:27 pm
Pray tell! I am about to arrive in Phnom Penh and open my own direct-deposit account in three weeks' time. Which local bank gave you that IDD bank account and what were their requirements from you to open the account?
Have them deposited into a bank account in your home country. Then you can withdraw in other countries with an ATM card.

If you have money sent to a Cambodian bank account, the fees are excessive.
## I thought I knew all the answers, but they changed all the questions. ##
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Kammekor
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Re: Do any banks accept foreign cheques?

Post by Kammekor » Mon Mar 11, 2019 8:11 am

I haven't used the ATM cards from my home country for ages. The fee back home is about EUR 7 per withdrawal, the local fee 5-12 USD (Thailand THB 18-220) and the rate I get sucks. Withdrawal limit from my bank back home is just 500 EUR as well, so total fees end up being 3-4% besides the bad exchange rate.

These days I bring cash USD and change it as I please, or use my Creditcard for purchases. I Always rent a room with a safe though.
jefjef
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Canada

Re: Do any banks accept foreign cheques?

Post by jefjef » Wed Mar 13, 2019 3:52 pm

I feel we are getting slightly out of topic here, but concerning money international transfers, what I personally do it this:

There is an online company called ofx.com I used them many many times. The idea is that they have "local" accounts in various countries, so they can give you a great rate with very little fees. So I locally transfer say 10k from my canadian account to a canadian ofx account (you need first to register the transaction on the site, they give you a code for the transfer). Within 2 days, the money is sent to whichever account I want around the world. So in this case, I send it to my Canadia account here in PP. The total fee is about 50USD, and the exchange rate is better than what any bank offers.
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