Bank Account for Remote Worker
-
- Expatriate
- Posts: 1094
- Joined: Mon Sep 04, 2017 3:14 pm
- Reputation: 108
Re: Bank Account for Remote Worker
as a fellow saffer i thank u for your patience and obvious love psd-kiwi.
respect
respect
Re: Bank Account for Remote Worker
If you get the money sent to a Cambodian bank account, they will take out a huge amount in fees. You will save a lot of money if you open an Australian bank account.
## I thought I knew all the answers, but they changed all the questions. ##
-
- Expatriate
- Posts: 1759
- Joined: Sun Jan 17, 2016 7:11 am
- Reputation: 357
- Location: Australia
Re: Bank Account for Remote Worker
Would be a long wait for the Aussie dollar to increase in value against the US.
- Duncan
- Sir Duncan
- Posts: 8149
- Joined: Tue Jun 03, 2014 8:22 pm
- Reputation: 2357
- Location: Wonder Why Central
Re: Bank Account for Remote Worker
willyhilly wrote: ↑Sun Aug 19, 2018 5:54 am Would be a long wait for the Aussie dollar to increase in value against the US.
But will it be a long wait before the USA $ drops against other currency's. Remember, what goes up, must come down eventually.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
Re: Bank Account for Remote Worker
I receive a substantial transfer from abroad into my ABA acct monthly...the huge amount in fees is a whopping $10!
ABA Inward Remittance Fees:
0.10% or min. USD 10 (whichever is higher)
- Duncan
- Sir Duncan
- Posts: 8149
- Joined: Tue Jun 03, 2014 8:22 pm
- Reputation: 2357
- Location: Wonder Why Central
Re: Bank Account for Remote Worker
How good was the exchange rate
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
Re: Bank Account for Remote Worker
@ Duncan - USD to USD...no exchange rate required.
Obviously that is something the OP will need to consider though.
Obviously that is something the OP will need to consider though.
Re: Bank Account for Remote Worker
It will be transferred from a bank in Australia. The bank in Australia will take out fees, the bank in Cambodia will take out fees, and you will get a poor exchange rate. You will lose a lot of money.
## I thought I knew all the answers, but they changed all the questions. ##
- armchairlawyer
- Expatriate
- Posts: 2520
- Joined: Sat Aug 29, 2015 1:43 pm
- Reputation: 1518
Re: Bank Account for Remote Worker
OP, you can use an FX broker in order to get a better rate when you transfer the money eg OFX.com.
Fees at the Cambodian end are minimal in the case of ABA and Canadia.
Bear in mind that there is no government guarantee of bank deposits in Cambodia. The two banks that have been credit rated (ABA and Acleda) both got single B, which is well within junk category. Otoh, there have been no cases of defaults in recent years.
Personally I favour the MFIs (eg Prasac) because they offer the best rates (8% on one year fixes) and imho lower risk, due to lower costs and more diversified loan portfolios. I would be wary of banks making a lot of real estate loans.
Fees at the Cambodian end are minimal in the case of ABA and Canadia.
Bear in mind that there is no government guarantee of bank deposits in Cambodia. The two banks that have been credit rated (ABA and Acleda) both got single B, which is well within junk category. Otoh, there have been no cases of defaults in recent years.
Personally I favour the MFIs (eg Prasac) because they offer the best rates (8% on one year fixes) and imho lower risk, due to lower costs and more diversified loan portfolios. I would be wary of banks making a lot of real estate loans.
- armchairlawyer
- Expatriate
- Posts: 2520
- Joined: Sat Aug 29, 2015 1:43 pm
- Reputation: 1518
Re: Bank Account for Remote Worker
Also, I would get your money out of ZAR as often as possible. For the forseeable future it is likely to head down against the USD. Every time it pops up a bit, sell.
-
- Similar Topics
- Replies
- Views
- Last post
-
- 31 Replies
- 7050 Views
-
Last post by Clutch Cargo
-
- 15 Replies
- 4124 Views
-
Last post by lucathenomad
-
- 14 Replies
- 3428 Views
-
Last post by cautious colin
-
- 11 Replies
- 4151 Views
-
Last post by Mr.November
-
- 20 Replies
- 4257 Views
-
Last post by daeum_tnaot
-
- 9 Replies
- 1728 Views
-
Last post by mikeukt
Who is online
Users browsing this forum: No registered users and 325 guests