Hi All...

New member here with a question about money transfer.....
An Aussie would probably have the answer...
I use forexworld.com to transfer money to my Philippino bank account......I currently live in the Philippines...
They convert to pesos and deposit it...

I could be coming to Cambodia in about two weeks....
1.......How is Australian dollars converted and sent to a bank account in Cambodia???..
2.......Does anyone use forexworld.com to do the transfer???...
3.......What other company can be used in Australia to transfer money???...
4.......Can Australian dollars be changed without a problem at money changers in Cambodia???...
5.......Is an ONWARD TICKET necessary to enter Cambodia???...(Usually known as ''Throw away ticket".

Has anyone ever imported items in a box (personal possessions) into Cambodia from Australia???...
Is it a reasonable thing to do OR is it too difficult because of Customs???...
What shipping company does freight to Cambodia???...

Any other tips out there that could make my trip / entry as painless as possible???...
I am retired and get an Aussie aged pension...
I intend to apply for the RETIREMENT VISA...
Any suggestions on a reasonable place to look at as a permanent home???...

So guys, feel free to use all the knowledge you have...

Jim..(And yep!!!...My real name is Jim)..

Some answers below:

1.......How is Australian dollars converted and sent to a bank account in Cambodia???..
Up to you. You can convert to USD in Australia and send or send in AUD and the bank in Cambodia will convert at their rate. All the banks charge a percentage for incoming remittances with no cap. This means - as told to me by the ANZ bank manager - that if you send $1,000,000 you would pay $3000 to receive the money.
2.......Does anyone use forexworld.com to do the transfer???...
I never use these forex companies. They are risky. I use a brokerage account to transfer money free of fees and best exchange rate. Only for large remittances though. Otherwise suggest using a bank.
3.......What other company can be used in Australia to transfer money???...
Any bank but remember all these transfer companies are "in the internet" and usually not based in Australia
4.......Can Australian dollars be changed without a problem at money changers in Cambodia???...
Yes - no problem. No torn notes.
5.......Is an ONWARD TICKET necessary to enter Cambodia???...(Usually known as ''Throw away ticket".
Legally no but some over zealous airline staff demand it.

Has anyone ever imported items in a box (personal possessions) into Cambodia from Australia???...
From Australia no but have received parcels from elsewhere (it makes no difference where they are from). For a reasonably smallish parcel post office is good. Usually only a small "fee" is required.

Is it a reasonable thing to do OR is it too difficult because of Customs???...
Its reasonable - no big problems.

What shipping company does freight to Cambodia???...
Most shipping companies have an agent here. If shipping by courier to Siem Reap there is only DHL here.

Any other tips out there that could make my trip / entry as painless as possible???...
Bring USD cash 35 plus photo to pay for Ordinary visa on arrival then apply for 12 month retirement visa within 30 days. No documents required if you are over 55 years old.

I am retired and get an Aussie aged pension...
I intend to apply for the RETIREMENT VISA...
Any suggestions on a reasonable place to look at as a permanent home???...
Opinions differ - some people like Phnom Penh (I do not). Others like Sihanoukville and Kampot. Siem Reap is pretty good with lots of restaurants and relatively quiet town (apart form all the tourists). Property prices are still relatively low compared to Australia but if you are thinking of buying be VERY cautious. Renting is a better option.

Hope above are helpful.

I have a Australian Citi account with no international transaction fees, so if I need cash I transfer from my main (CBA) account to that, then use the Citi card at a fee free ATM (MB Bank) here. That way there are no fees and the exchange rate is pretty much the mid market rate. I could withdraw direct from CBA but they'd charge fx fees.

timmydownawell wrote: ↑Wed Apr 17, 2019 2:12 pm I have a Australian Citi account with no international transaction fees, so if I need cash I transfer from my main (CBA) account to that, then use the Citi card at a fee free ATM (MB Bank) here. That way there are no fees and the exchange rate is pretty much the mid market rate. I could withdraw direct from CBA but they'd charge fx fees.

You can do same with also uBank Visa debit card and Macquarie Mastercard debit card.

For bulk interbank transfers with good rates you can look into these:

https://www.ofx.com/en-au/
https://www.audsmart.com/en/
https://transferwise.com/au/

I haven't used the bulk transfers but if you google those and transfers from OZ to Cambodia, there are discussions on another forum on these. I made some enquiries a while ago and I understand the local Cambodia bank here will charge you $US40 intermediary bank fees on any amount transfer in...maybe someone else who's done it can confirm.

Your other option is to bring $A10,000 in cash, change to $US at a money changer and then open and deposit into a local bank account. Many foreigners here like ABA bank coz it's majority owned by a Canadian bank, have the most ATMs and have a good online banking platform.

clutchcargo wrote: ↑Wed Apr 17, 2019 5:06 pm I made some enquiries a while ago and I understand the local Cambodia bank here will charge you $US40 intermediary bank fees on any amount transfer in...maybe someone else who's done it can confirm.

...Many foreigners here like ABA bank coz it's majority owned by a Canadian bank, have the most ATMs and have a good online banking platform.

Although we recently transferred from our ANZ account in Australia to our ABA account in Cambodia and got hit with additional fees on top of the fees advertised by both banks. Possibly the intermediary fee you mentioned, and when I asked ABA about it they were unable to document it, and after arguing hard that our Australian government ripped us off, their only further comment was "Cambodia government".

That said, ABA still seems to be the best bank for daily banking here.

StroppyChops wrote: ↑Wed Apr 17, 2019 8:10 pm Although we recently transferred from our ANZ account in Australia to our ABA account in Cambodia and got hit with additional fees on top of the fees advertised by both banks. Possibly the intermediary fee you mentioned, and when I asked ABA about it they were unable to document it, and after arguing hard that our Australian government ripped us off, their only further comment was "Cambodia government".

This is what happened to me, CBA and ABA both took a fee while a bigger chunk just vapourised without any notification, just *poof* gone. I assume it's the intermediary bank and not the Cambodian govt but you never know. There's certainly no transparency.

timmydownawell wrote: ↑Wed Apr 17, 2019 8:55 pm

StroppyChops wrote: ↑Wed Apr 17, 2019 8:10 pm Although we recently transferred from our ANZ account in Australia to our ABA account in Cambodia and got hit with additional fees on top of the fees advertised by both banks. Possibly the intermediary fee you mentioned, and when I asked ABA about it they were unable to document it, and after arguing hard that our Australian government ripped us off, their only further comment was "Cambodia government".

This is what happened to me, CBA and ABA both took a fee while a bigger chunk just vapourised without any notification, just *poof* gone. I assume it's the intermediary bank and not the Cambodian govt but you never know. There's certainly no transparency.

While I know resistance is futile, I wonder where it does actually go.

I've had parcels sent from Oz to the local post office. No problem. The post office rings to let me know I have a package. Don't expect it in too much of a hurry though.