MoneyTransfer

bobsboots · Post by **bobsboots** » Mon Apr 27, 2020 9:06 pm

A family member wants to transfer some money to me here in Cambodia. Does anyone know the best way to do this? I have an ABA account, but I don’t know how much the bank charges. Is the transfer fee deducted from money received or is it a separate payment?
Does anyone know what Western Union charge for a transfer from England to Cambodia?
Any positive advice would be welcome as we are all facing difficult times ahead in Phnom Penh.
Stay safe and thanks.

Doc67 · Post by **Doc67** » Mon Apr 27, 2020 9:21 pm

bobsboots wrote: ↑Mon Apr 27, 2020 9:06 pm A family member wants to transfer some money to me here in Cambodia. Does anyone know the best way to do this? I have an ABA account, but I don’t know how much the bank charges. Is the transfer fee deducted from money received or is it a separate payment?
Does anyone know what Western Union charge for a transfer from England to Cambodia?
Any positive advice would be welcome as we are all facing difficult times ahead in Phnom Penh.
Stay safe and thanks.

I use TransferWise from UK. Your family member needs to set up an account with them and send the £ to them for conversion. It's very simple. Fees depends on amount being transacted. But, TransferWise use an intermediary bank for $US transfers and they charge $55 for the swift fee. Their exchanges rates are the interbank rates, you just pay a fee.

ABA will charge you $10 for the first $10,000 of international deposits, thereafter it's bit cheaper.

If you are sending a lump, i.e. £5k or more they are probably one of the best and you'll get your money in a couple of days. If you are sending small amounts that $55 swift fee starts to get a bit expensive.

bobsboots · Post by **bobsboots** » Mon Apr 27, 2020 9:28 pm

Doc67 wrote: ↑Mon Apr 27, 2020 9:21 pm
bobsboots wrote: ↑Mon Apr 27, 2020 9:06 pm A family member wants to transfer some money to me here in Cambodia. Does anyone know the best way to do this? I have an ABA account, but I don’t know how much the bank charges. Is the transfer fee deducted from money received or is it a separate payment?
Does anyone know what Western Union charge for a transfer from England to Cambodia?
Any positive advice would be welcome as we are all facing difficult times ahead in Phnom Penh.
Stay safe and thanks.
I use TransferWise from UK. Your family member needs to set up an account with them and send the £ to them for conversion. It's very simple. Fees depends on amount being transacted. But, TransferWise use an intermediary bank for $US transfers and they charge $55 for the swift fee. Their exchanges rates are the interbank rates, you just pay a fee.

ABA will charge you $10 for the first $10,000 of international deposits, thereafter it's bit cheaper.

If you are sending a lump, i.e. £5k or more they are probably one of the best and you'll get your money in a couple of days. If you are sending small amounts that $55 swift fee starts to get a bit expensive.

Thanks.

xandreu · Post by **xandreu** » Mon Apr 27, 2020 9:40 pm

Transferwise can be a little sneaky with their $55 Swift Fee. They won't mention it in their costing before you make the transaction. You will only be aware of it once you recieve (or don't receieve) the quoted amount.

Fair enough if it's a fee that they have to pay to their handlers, I just wish they'd make people aware of it beforehand.

bobsboots · Post by **bobsboots** » Tue Apr 28, 2020 1:24 am

A family member wants to transfer some money to me here in Cambodia. Does anyone know the best way to do this? I have an ABA account, but I don’t know how much the bank charges. Is the transfer fee deducted from money received or is it a separate payment?
Does anyone know what Western Union charge for a transfer from England to Cambodia?
Any positive advice would be welcome as we are all facing difficult times ahead in Phnom Penh.
Stay safe and thanks.

YouTube · Post by **General Mackevili** » Tue Apr 28, 2020 1:28 am

The best deal depends on what amount is being sent.

Generally, if it's around $1000+ it's going to be much cheaper through the banks.

Not sure what their Bank will charge (maybe about $20-30?), but you'll be looking at about $15 of receiving fees on your end, out of the transfered amount.

hunter8 · Post by **hunter8** » Tue Apr 28, 2020 2:55 am

I used to do Western Union transfers and if done through their website, the transfer fee is really small compared to going to a physical office. But i guess they or your bank could make some money off you on currency conversion if bank card and target currencies don’t match.

Duncan · Post by **Duncan** » Tue Apr 28, 2020 5:33 am

Only advice I can give is dont use OFX . After I transferred my money into their account, they cancelled the deal, wont say why, and now they wont refund my money back. I have since used Western Union twice which worked out at nearly the same price and much, much faster.

fazur · Post by **fazur** » Tue Apr 28, 2020 5:35 am

bobsboots wrote: ↑Tue Apr 28, 2020 1:24 am A family member wants to transfer some money to me here in Cambodia. Does anyone know the best way to do this? I have an ABA account, but I don’t know how much the bank charges. Is the transfer fee deducted from money received or is it a separate payment?
Does anyone know what Western Union charge for a transfer from England to Cambodia?
Any positive advice would be welcome as we are all facing difficult times ahead in Phnom Penh.
Stay safe and thanks.

from what country?

aba has links to certain countries banks

paypal charges 5% but you need an account opened outside cambodia

stillhere · Post by **stillhere** » Tue Apr 28, 2020 7:56 am

I am in a similar situation, here for longer than expected and getting some money transferred. Has anyone tried Xoom, the Paypal service where you can pick up funds at ABA?

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