Outbound SWIFT transfers

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holidayinkh
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Outbound SWIFT transfers

Post by holidayinkh »

Hi,

Has anyone done an outbound SWIFT transfer to North America (Canada or US) lately?

I want to transfer about $70K USD out, but, am concerned since Cambodia has been placed on the FATF grey list in Feb. Talking to HSBC Expat (bank) a couple months ago, they didn't want anything to do with Cambodia, just muttered something about a "list" and that they couldn't say more except that any bank operating out of Guernsey basically couldn't do anything with Cambodia now. He refused to say more but did suggest other banks that could help. (Questionable Swiss or Caymen Island style shit... But I guess that's basically what HSBC Expat is anyway.)

Alternatively, perhaps, has anyone taken that much cash out in straight up USD through the airport in the last year? I know they've been cracking down on $$ coming in, but, what about out? It's not 3.5 million, but, they are definitely cracking down. Last thing I want to do is sit in a room of Khmer customs officials asking WTF I am doing bringing $70K in USD out of the country. I have a feeling a bit less than $70K would make it out of that room in my hands even if I have full and legitimate proof of where it came from.

The destination country would be Canada in the end.

Any other suggestions?

Thanks
offroadscholar
Expatriate
Posts: 317
Joined: Sun Jul 23, 2017 1:55 pm
Reputation: 85
Australia

Re: Outbound SWIFT transfers

Post by offroadscholar »

holidayinkh wrote: Fri Aug 16, 2019 5:46 pm Hi,

Has anyone done an outbound SWIFT transfer to North America (Canada or US) lately?

I want to transfer about $70K USD out, but, am concerned since Cambodia has been placed on the FATF grey list in Feb. Talking to HSBC Expat (bank) a couple months ago, they didn't want anything to do with Cambodia, just muttered something about a "list" and that they couldn't say more except that any bank operating out of Guernsey basically couldn't do anything with Cambodia now. He refused to say more but did suggest other banks that could help. (Questionable Swiss or Caymen Island style shit... But I guess that's basically what HSBC Expat is anyway.)

Alternatively, perhaps, has anyone taken that much cash out in straight up USD through the airport in the last year? I know they've been cracking down on $$ coming in, but, what about out? It's not 3.5 million, but, they are definitely cracking down. Last thing I want to do is sit in a room of Khmer customs officials asking WTF I am doing bringing $70K in USD out of the country. I have a feeling a bit less than $70K would make it out of that room in my hands even if I have full and legitimate proof of where it came from.

The destination country would be Canada in the end.

Any other suggestions?

Thanks
Would be good if expats wanting to take USD's out of Cambodia could be matched with expats trying to bring USD's in, for property purchases etc.
eg, Expat wanting to bring in USD transfers money online to your US bank account from his US bank account. You payout to him in Cambodia with your USD cash or transfer from your Cambodia USD account to his Cambodia USD account. All can be done online. No cross border restrictions to worry about.
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