Money Transfer Question

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LIVIDZX
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Re: Money Transfer Question

Post by LIVIDZX » Sun Feb 10, 2019 10:16 pm

Spigzy wrote:
Sun Feb 10, 2019 9:23 pm
To be fair to ABA, the cryptocurrency thing is nothing to do with perceiving it as a threat (laughable)
For now.
Spigzy wrote:
Sun Feb 10, 2019 9:23 pm
and everything to do with the National Bank of Cambodia prakas issued to all financial institutions that any facilitation of cryptocurrency transactions would result in punishment that I believe also extended as far as revocation of banking license. If you’re a bank, you’re simply not going to take that risk. It’s actually the central bank that is completely out of touch with crypto currencies.
Any idea when that letter was issued? The date at the top of the article says today but that can't be it, and the bans came over 18 months ago.

Spigzy any ideas for a workaround to my issue in the OP?
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RickyBobby
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Re: Money Transfer Question

Post by RickyBobby » Sun Feb 10, 2019 10:35 pm

LIVIDZX wrote:
Sun Feb 10, 2019 9:46 am
Hi, I'm from the UK and have a UK bank account (HSBC) - here in Cambodia I no longer have a account as ABA banned me for life for using "bitcoin" as a reference to send money to a friend I kid you not...no warnings whatsoever. (he was also banned for life).

But anyway I am looking for the easiest/cheapest way to get actual physical cash that I have on me here, into my UK account as I have various bills I have to pay from that account. Does anyone have any idea how to get it into my account? AFAIK Western Union doesn't have an option to do so, only person to person transfers and taking money FROM an account to send to someone, not too a bank account. MoneyGram I assume is similar. There must be a way surely?

Thanks in advance.
Do you not have any trusted friends in the UK that you can send money to that could do some deposits for you?

Alternately, cannot you open another bank account in another bank and then do your payments from there online?
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Spigzy
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Re: Money Transfer Question

Post by Spigzy » Sun Feb 10, 2019 11:12 pm

LIVIDZX wrote:
Sun Feb 10, 2019 10:16 pm
Spigzy wrote:
Sun Feb 10, 2019 9:23 pm
To be fair to ABA, the cryptocurrency thing is nothing to do with perceiving it as a threat (laughable)
For now.
Spigzy wrote:
Sun Feb 10, 2019 9:23 pm
and everything to do with the National Bank of Cambodia prakas issued to all financial institutions that any facilitation of cryptocurrency transactions would result in punishment that I believe also extended as far as revocation of banking license. If you’re a bank, you’re simply not going to take that risk. It’s actually the central bank that is completely out of touch with crypto currencies.
Any idea when that letter was issued? The date at the top of the article says today but that can't be it, and the bans came over 18 months ago.

Spigzy any ideas for a workaround to my issue in the OP?
If you need to do it regularly, open another bank account with one of the other multi-national banks- banks don’t share “KYC” data with each other, so only ABA would have tagged you in their system.

If a one off, send it via WU/Moneygram and get a trusted friend/relative to bank it?
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pczz
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Re: Money Transfer Question

Post by pczz » Mon Feb 11, 2019 5:09 pm

LIVIDZX wrote:
Sun Feb 10, 2019 9:46 am
Hi, I'm from the UK and have a UK bank account (HSBC) - here in Cambodia I no longer have a account as ABA banned me for life for using "bitcoin" as a reference to send money to a friend I kid you not...no warnings whatsoever. (he was also banned for life).

But anyway I am looking for the easiest/cheapest way to get actual physical cash that I have on me here, into my UK account as I have various bills I have to pay from that account. Does anyone have any idea how to get it into my account? AFAIK Western Union doesn't have an option to do so, only person to person transfers and taking money FROM an account to send to someone, not too a bank account. MoneyGram I assume is similar. There must be a way surely?

Thanks in advance.
Assuming your bank in uk will accept funds from here it is generally cheaper to chnage your dollars and send them by wire as pounds to your bank. you usually get a better rate here. I do not think you have have to bank at ACLEDA to uses it for a wire transfer, you can do it over the counter, if I am wrong i am sure one of the international banks will do it
You might have a problem there. one of my UK banks has blacklisted Cambodi and will not send funds here or accept them from her. Cue very embarrassing moments in ACLEDA. If yoiu are resident in the UK you should look for a usd offshore account in Isle of Man, jersey, or maybe gibraltar and make sure they will accept funds from Cambodia. Some of the app banks give you a really good rate now so onece it s in your offshore account send it to starling or revolut or one of the others. you will need to be uk resdient when you open the account and downlaod the app and a uk sim usually to receive security codes.
I have friends coming here freqiently so i give them spending money here and they put pounds in my account at home or vice versa, but they sometimes check random amount usually anything over 10k in one go. To do it safely you both need an instant transfer account at the same bank. So you can put 10k in my xzy account ans i can see it go in online and give you 10k in cash
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Re: Money Transfer Question

Post by LIVIDZX » Tue Feb 12, 2019 1:55 am

pczz wrote:
Mon Feb 11, 2019 5:09 pm
LIVIDZX wrote:
Sun Feb 10, 2019 9:46 am
Hi, I'm from the UK and have a UK bank account (HSBC) - here in Cambodia I no longer have a account as ABA banned me for life for using "bitcoin" as a reference to send money to a friend I kid you not...no warnings whatsoever. (he was also banned for life).

But anyway I am looking for the easiest/cheapest way to get actual physical cash that I have on me here, into my UK account as I have various bills I have to pay from that account. Does anyone have any idea how to get it into my account? AFAIK Western Union doesn't have an option to do so, only person to person transfers and taking money FROM an account to send to someone, not too a bank account. MoneyGram I assume is similar. There must be a way surely?

Thanks in advance.
Assuming your bank in uk will accept funds from here it is generally cheaper to chnage your dollars and send them by wire as pounds to your bank. you usually get a better rate here. I do not think you have have to bank at ACLEDA to uses it for a wire transfer, you can do it over the counter, if I am wrong i am sure one of the international banks will do it
You might have a problem there. one of my UK banks has blacklisted Cambodi and will not send funds here or accept them from her. Cue very embarrassing moments in ACLEDA. If yoiu are resident in the UK you should look for a usd offshore account in Isle of Man, jersey, or maybe gibraltar and make sure they will accept funds from Cambodia. Some of the app banks give you a really good rate now so onece it s in your offshore account send it to starling or revolut or one of the others. you will need to be uk resdient when you open the account and downlaod the app and a uk sim usually to receive security codes.
I have friends coming here freqiently so i give them spending money here and they put pounds in my account at home or vice versa, but they sometimes check random amount usually anything over 10k in one go. To do it safely you both need an instant transfer account at the same bank. So you can put 10k in my xzy account ans i can see it go in online and give you 10k in cash
So do you think it's worth going to branches of each bank and just ask them if they can transfer to a UK account? It can't hurt I suppose but it just seems like they'd say no.
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Re: Money Transfer Question

Post by pczz » Tue Feb 12, 2019 11:28 am

You are only asking them to do a wire transfer. if you think about it most cambodians do not have bank accounts. You could try Western Union on corner of Monivong and 154, there is another on riverside but I think they are pricey. You will need your passport. I know ACLEDA, ABA and Canadia can do wire transfers and get them to send the money to a relative in GBP cos you will get a better rate her than in UK.
I do not think that just because ABA have banned you does not mean you cannot open an account at another bank. You could try Sathapanha or royal or any of them.
The issues you may have is money laundering checks at the UK end and ensuring your uk bank will accept money from Cambodia. If you call your bank first you can send documents to them for clearance before you send the money.I usually do not send more than 20k at a time as that seems to be a limit with my bank.
Its difficult to say without knowing how much you are trying to move. $5000 is easier than $500,000. You can take $10,000 in cash to most countries if you declare it on entry and can prove where it came from. To best of my knowledge at the moment barclays International and Lloyds international bot accept funds from Cambodia. You could go home, open an account in usd, come back and send it as a last resort.
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Re: Money Transfer Question

Post by phuketrichard » Tue Feb 12, 2019 3:34 pm

In a nation run by swine, all pigs are upward-mobile and the rest of us are fucked until we can put our acts together: not necessarily to win, but mainly to keep from losing completely. HST
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Kammekor
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Re: Money Transfer Question

Post by Kammekor » Tue Feb 12, 2019 5:10 pm

pczz wrote:
Tue Feb 12, 2019 11:28 am
You are only asking them to do a wire transfer. if you think about it most cambodians do not have bank accounts. You could try Western Union on corner of Monivong and 154, there is another on riverside but I think they are pricey. You will need your passport. I know ACLEDA, ABA and Canadia can do wire transfers and get them to send the money to a relative in GBP cos you will get a better rate her than in UK.
I do not think that just because ABA have banned you does not mean you cannot open an account at another bank. You could try Sathapanha or royal or any of them.
The issues you may have is money laundering checks at the UK end and ensuring your uk bank will accept money from Cambodia. If you call your bank first you can send documents to them for clearance before you send the money.I usually do not send more than 20k at a time as that seems to be a limit with my bank.
Its difficult to say without knowing how much you are trying to move. $5000 is easier than $500,000. You can take $10,000 in cash to most countries if you declare it on entry and can prove where it came from. To best of my knowledge at the moment barclays International and Lloyds international bot accept funds from Cambodia. You could go home, open an account in usd, come back and send it as a last resort.
Most MFI's are not connected to SWIFT so sending / receiving money to the UK is impossible in that case. Acleda, ABA, Canadia and maybe some more should be able to wire the money into your UK account at a fee. They will not accept GBP for the transfer though, just dollars, and they will use they exchange rate to turn in into pounds.

I think your cheapest option is to use a bank account of a friend in Cambodia, but it should be a good friend, and maybe after this you wont' be friends anymore.... But in that case you can just wire USD too, exchanged into GBP on the way. Count on losing at least 1% there.
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markd
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Re: Money Transfer Question

Post by markd » Tue Feb 12, 2019 8:32 pm

assuming the bills are regular bills they probably have a webiste so i can just login to them websites & pay the bills using credit card account or debit card account

no need for third party transfers that may go bust whilst theyre holding your money or getting foreign government departments involved with currency transfers tracing & ringing the terrorist alarm bells =@
thru shit to more shit
pczz
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Re: Money Transfer Question

Post by pczz » Wed Feb 13, 2019 11:02 am

Kammekor wrote:
Tue Feb 12, 2019 5:10 pm
pczz wrote:
Tue Feb 12, 2019 11:28 am
You are only asking them to do a wire transfer. if you think about it most cambodians do not have bank accounts. You could try Western Union on corner of Monivong and 154, there is another on riverside but I think they are pricey. You will need your passport. I know ACLEDA, ABA and Canadia can do wire transfers and get them to send the money to a relative in GBP cos you will get a better rate her than in UK.
I do not think that just because ABA have banned you does not mean you cannot open an account at another bank. You could try Sathapanha or royal or any of them.
The issues you may have is money laundering checks at the UK end and ensuring your uk bank will accept money from Cambodia. If you call your bank first you can send documents to them for clearance before you send the money.I usually do not send more than 20k at a time as that seems to be a limit with my bank.
Its difficult to say without knowing how much you are trying to move. $5000 is easier than $500,000. You can take $10,000 in cash to most countries if you declare it on entry and can prove where it came from. To best of my knowledge at the moment barclays International and Lloyds international bot accept funds from Cambodia. You could go home, open an account in usd, come back and send it as a last resort.
Most MFI's are not connected to SWIFT so sending / receiving money to the UK is impossible in that case. Acleda, ABA, Canadia and maybe some more should be able to wire the money into your UK account at a fee. They will not accept GBP for the transfer though, just dollars, and they will use they exchange rate to turn in into pounds.

I think your cheapest option is to use a bank account of a friend in Cambodia, but it should be a good friend, and maybe after this you wont' be friends anymore.... But in that case you can just wire USD too, exchanged into GBP on the way. Count on losing at least 1% there.
Unless you have one of the UK accounts that offers the visa rate like starling or the mid-point like Revolut I have found it is almost always better to exchange the money here. there are usually no fees and the clip on the exchange rate is smaller. this si especially tru for amounts under $10,000.
If you want to hold your money in GBP or I think Euro and maybe AUD then ACLEDA have multi currency accounts they call "Svaings account" but it has no interest. You hvae to go to their head office to open it and jump up and down until you get to someone who knmows about as the meet and greeters and many of the counter staff will tell you it does not exist. Check the small print!
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