daeum_tnaot wrote: ↑Mon Oct 14, 2019 1:18 pm

Doc67 wrote: ↑Mon Oct 14, 2019 10:41 am

daeum_tnaot wrote: ↑Sat Oct 12, 2019 11:14 pm So what I'm still not getting is why Transferwise says that they don't do transfers to Cambodia... but some people say that they are using it here...How is that possible?

I use them all the time. As long as you have a Cambodian US$ account they will send it via the swift system. It takes about 2 days max.

Thanks Doc67, that's very helpful. Based on your previous post, it sounds like it may be cheaper for me to use a wire transfer from my bank in the US without involving TransferWise.

How much does TransferWise charge you for the transaction with ABA?

The above example shows that on a £5000 transaction their fee is £19.19. So, £4980.81 is the converted amount which gives $6273.33.
Thereafter deduct the $55 intermediary fee and the $10 ABA incoming fee and I would then see a net credit of $6280.33.

If you work the net figure into the original amount exchanged you get your true rate: £5000 / $6280.33 = 1.241. The fees work out at about 1.5%. which I don't think is too terrible for a retail punter.

If you are transferring USD from a US bank then it's just the swift fee, you have no need for an FX company.

Hope this helps

Thanks, that makes sense and I think I will try it for other countries. Thanks for the explanation.

I just heard about https://everex.io/. I haven't used them

ACLEDA bank offers an Euro Flex Account. People can deposit in USD, EUR or THB.
If one opens an account like this, and use TransferWise from Euro to Euro, the cost would me be minimal, or am I wrong ?
I'm looking for a way to transfer about 30.000 euro from Europe to Cambodia. I have an account with Saccombank, but no problem opening another account.

Anyone opened this Euro Flex Account or used it with TransferWise ?