ATM USD or local currency

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darrenrr
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ATM USD or local currency

Post by darrenrr » Mon Jul 08, 2019 10:03 pm

Hi I am a newbie to this forum. I have travelled to Thailand extensively but they become anti tourists expat was thinking coming to cambodia. I saw a YouTube video where they said most places like stores, bars , restaurants etc only accept USD ?
They also said to withdraw USD from ATM rather than the local currency ? Is this correct . It also said to withdraw low denominations such as 10,20,50 noted as $100 US notes are hard to change
Any advice would be appreciated
Also
Yerg
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Re: ATM USD or local currency

Post by Yerg » Tue Jul 09, 2019 12:36 am

darrenrr wrote:
Mon Jul 08, 2019 10:03 pm
Hi I am a newbie to this forum. I have travelled to Thailand extensively but they become anti tourists expat was thinking coming to cambodia. I saw a YouTube video where they said most places like stores, bars , restaurants etc only accept USD ?
They also said to withdraw USD from ATM rather than the local currency ? Is this correct . It also said to withdraw low denominations such as 10,20,50 noted as $100 US notes are hard to change
Any advice would be appreciated
Also
Be wise to withdraw $ from ATM's. $100 bills are not overly difficult to change, depends where your spending them. Paying a $3 bill in a Mom & Pop store with a $100 will be a challenge, but most bars/restaurants/mainstream stores should be no issues.

USD is the generally accepted currency, but change will often be a mix of $$ and Riel. (NB: approx 4,000 riel is $1) Keep a few dollars worth of riels for tuktuks/PassApp/Grab rides and buying a water/soda from a store. You'll not go wrong and you'll pick up the local nuances fairly quickly. Enjoy Cambodia, I know I did.
Yerg
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Re: ATM USD or local currency

Post by Yerg » Tue Jul 09, 2019 12:39 am

Some other more seasoned posters may also help guide you around the pitfalls of fake currency, especially $100 bills. Check your bills. Also, I last visited Phnom Penh in June, and I had a couple of $5 bills rejected because they were (I think) pre AD 2000. (I'd got them from a Travelex when I changed some money on my outward journey.)
darrenrr
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Re: ATM USD or local currency

Post by darrenrr » Tue Jul 09, 2019 8:17 am

Many thanks for the replies!
Is fake US dollars a real problem a lot more than Thailand ?
2. If I get my bills from a bank ATM should they be okay ?
3. Does the ATMs give you the option of smaller denominations being dispensed from the machine ?
4. If you are going to a Seven Eleven or paying for some lady company is US preferred ?
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Kammekor
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Re: ATM USD or local currency

Post by Kammekor » Tue Jul 09, 2019 8:31 am

darrenrr wrote:
Tue Jul 09, 2019 8:17 am
Many thanks for the replies!
Is fake US dollars a real problem a lot more than Thailand ?
Yes. But if you keen an eye on your money and use common sense you'll be OK.
darrenrr wrote:
Tue Jul 09, 2019 8:17 am
2. If I get my bills from a bank ATM should they be okay ?
Yes, but there are some urban myths about ATM's giving out 'ghost money' with the cord 'copy' printed on it.
darrenrr wrote:
Tue Jul 09, 2019 8:17 am
3. Does the ATMs give you the option of smaller denominations being dispensed from the machine ?
No, just withdraw a number like 280 USD and you will get some 10's and 20's too.
darrenrr wrote:
Tue Jul 09, 2019 8:17 am
4. If you are going to a Seven Eleven or paying for some lady company is US preferred ?
Seven eleven? What's that?
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John Bingham
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Re: ATM USD or local currency

Post by John Bingham » Tue Jul 09, 2019 8:55 am

darrenrr wrote:
Mon Jul 08, 2019 10:03 pm
They also said to withdraw USD from ATM rather than the local currency ? Is this correct .
Unless you have a local account you won't have the option of withdrawing Riel.
It also said to withdraw low denominations such as 10,20,50 noted as $100 US notes are hard to change
Any advice would be appreciated
You can't choose which notes the machine gives out unless you go for a number like $90, anyway that information is out of date - it's not at all difficult to get change.
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cautious colin
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Re: ATM USD or local currency

Post by cautious colin » Tue Jul 09, 2019 8:59 am

It’s pretty easy when you get here.

Everywhere will accept both (except a couple of government depts).

Don’t try to pay with too high denominations when in a small store.

When in a western oriented place most likely use dollars, in a Cambodian place, use riel if you have enough but they will also take dollar.

Check your dollars when given back in change and don’t accept any looking a bit ropey (taped back together, corner missing, tear, cut, too old), they will usually give you a new one no questions asked.

Just use some common sense and don’t be overly concerned about it and you’ll be fine.
CamExpat
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e: ATM USD or local currency

Post by CamExpat » Tue Jul 09, 2019 9:21 am

Just curious and slightly off topic.... exchange rate doesnt seem to have changed much in last 5 years...

Is Riel pegged to USD? Or is the currency really that stable?
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Kammekor
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Re: e: ATM USD or local currency

Post by Kammekor » Tue Jul 09, 2019 9:24 am

CamExpat wrote:
Tue Jul 09, 2019 9:21 am
Just curious and slightly off topic.... exchange rate doesnt seem to have changed much in last 5 years...

Is Riel pegged to USD? Or is the currency really that stable?
It's pretty stable but it also accounts for just a small part of the Cambodian economy. USD is king.
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clutchcargo
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Re: ATM USD or local currency

Post by clutchcargo » Tue Jul 09, 2019 10:01 am

darrenrr wrote:
Tue Jul 09, 2019 8:17 am
If you are paying for some lady company is US preferred ?
Unless your negotiating skills are very good, she's not going to appreciate a thick wad of riel :wink: :stir:
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