Fixed deposits probably last chance...
-
- Expatriate
- Posts: 97
- Joined: Thu May 30, 2019 3:14 pm
- Reputation: 29
Fixed deposits probably last chance...
I tried to close my ABA, Canadia, CIMB fixed deposits and all are insisting that they now can only be closed at the branch in which they were opened. Previously it was possible to do in app and/or telephone banking. I know many retirees here rely on these deposits and would be devastated if they were ‘locked’ or even seized. I’m not in Cambodia so there is nothing I can do... But the few percent you’re getting now is NOT worth the RISK.
- Mr.November
- Expatriate
- Posts: 97
- Joined: Sun Mar 17, 2019 2:47 pm
- Reputation: 57
- Contact:
Re: Fixed deposits probably last chance...
I closed (early) my 7.5% USD deposit with a Micro Finance and took cash with no issues last Thursday. They still gave me 5% despite terminating half term! ABA / CIMB should not fail, small banks may but I wouldn’t worry if you bank with one of the biggest banks.
-
- Expatriate
- Posts: 97
- Joined: Thu May 30, 2019 3:14 pm
- Reputation: 29
Re: Fixed deposits probably last chance...
Most likely is imposition of capital controls i.e. you won’t be able to take your money out of the country.Mr.November wrote: ↑Mon Mar 23, 2020 3:27 pm I closed (early) my 7.5% USD deposit with a Micro Finance and took cash with no issues last Thursday. They still gave me 5% despite terminating half term! ABA / CIMB should not fail, small banks may but I wouldn’t worry if you bank with one of the biggest banks.
-
- Expatriate
- Posts: 141
- Joined: Wed Sep 13, 2017 2:17 pm
- Reputation: 74
Re: Fixed deposits probably last chance...
I'm sure most of you know this but there is NO deposit insurance in Cambodia. If the bank goes belly up you are SOL.
-
- Expatriate
- Posts: 333
- Joined: Sun Jul 23, 2017 1:55 pm
- Reputation: 92
Re: Fixed deposits probably last chance...
I tried to close a fixed deposit with Canadia around 18 months ago and was told I had to visit the branch where I opened it. So that policy isnt new for Canadia.chinesetakeaway wrote:I tried to close my ABA, Canadia, CIMB fixed deposits and all are insisting that they now can only be closed at the branch in which they were opened. Previously it was possible to do in app and/or telephone banking. I know many retirees here rely on these deposits and would be devastated if they were ‘locked’ or even seized. I’m not in Cambodia so there is nothing I can do... But the few percent you’re getting now is NOT worth the RISK.
Sent from my SM-A500F using Tapatalk
-
- Expatriate
- Posts: 97
- Joined: Thu May 30, 2019 3:14 pm
- Reputation: 29
Re: Fixed deposits probably last chance...
There previously was a close deposit option in the app. None of my deposits now show this.offroadscholar wrote: ↑Mon Mar 23, 2020 4:38 pmI tried to close a fixed deposit with Canadia around 18 months ago and was told I had to visit the branch where I opened it. So that policy isnt new for Canadia.chinesetakeaway wrote:I tried to close my ABA, Canadia, CIMB fixed deposits and all are insisting that they now can only be closed at the branch in which they were opened. Previously it was possible to do in app and/or telephone banking. I know many retirees here rely on these deposits and would be devastated if they were ‘locked’ or even seized. I’m not in Cambodia so there is nothing I can do... But the few percent you’re getting now is NOT worth the RISK.
Sent from my SM-A500F using Tapatalk
-
- Expatriate
- Posts: 333
- Joined: Sun Jul 23, 2017 1:55 pm
- Reputation: 92
Re: Fixed deposits probably last chance...
Ok, interesting.chinesetakeaway wrote:There previously was a close deposit option in the app. None of my deposits now show this.offroadscholar wrote: ↑Mon Mar 23, 2020 4:38 pmI tried to close a fixed deposit with Canadia around 18 months ago and was told I had to visit the branch where I opened it. So that policy isnt new for Canadia.chinesetakeaway wrote:I tried to close my ABA, Canadia, CIMB fixed deposits and all are insisting that they now can only be closed at the branch in which they were opened. Previously it was possible to do in app and/or telephone banking. I know many retirees here rely on these deposits and would be devastated if they were ‘locked’ or even seized. I’m not in Cambodia so there is nothing I can do... But the few percent you’re getting now is NOT worth the RISK.
Sent from my SM-A500F using Tapatalk
Sent from my SM-A500F using Tapatalk
Re: Fixed deposits probably last chance...
quite possibly something with increased diligence on money laundering, although to be fair Cambodia is going to be in a state if corona takes off and I would expect capital controls and possibly the governemtn reducing rates and delaying withdrawals to provideliquidity
Re: Fixed deposits probably last chance...
I just checked mine Canada bank no problem closing using app on phone in Australia
I'm standing up, so I must be straight.
What's a poor man do when the blues keep following him around.(Smoking Dynamite)
What's a poor man do when the blues keep following him around.(Smoking Dynamite)
-
- Expatriate
- Posts: 333
- Joined: Sun Jul 23, 2017 1:55 pm
- Reputation: 92
-
- Similar Topics
- Replies
- Views
- Last post
-
- 8 Replies
- 8280 Views
-
Last post by atst
-
- 11 Replies
- 2966 Views
-
Last post by AndyKK
-
- 38 Replies
- 7176 Views
-
Last post by tightenupvolume1
-
- 46 Replies
- 9492 Views
-
Last post by chinesetakeaway
-
- 3 Replies
- 1257 Views
-
Last post by newkidontheblock
-
- 3 Replies
- 1482 Views
-
Last post by Doc67
-
- 7 Replies
- 2098 Views
-
Last post by techietraveller84
Who is online
Users browsing this forum: No registered users and 144 guests