I have an ABA account and with them, you can create a virtual Visa card. I have never tried this, but I believe I can shift money between my US and Cambodian ABA account using PayPal. Has anyone tried this?

CamExpat wrote: ↑Sat Jul 20, 2019 11:27 am Its the way the correspondent banking network works. Each bank in the chain takes a cut and it adds up. Cambodia being high risk, so not many banks will partner with the banks here. This makes it expensive and transfers from Cambodia likely go through 1 or 2 more hops then banks in other countries.

Up until recently, there was no way to know what the fees were in advance. But the Cambodoan banks likely don't have abiity to calculate that yet.

You might try payoneer as well. I have received money with them but not sent. Sender is paying $20 at the moment. (Not as good as transferwise)

Fucking banks

Nixon wrote: ↑Fri Jul 19, 2019 9:06 pm Quick question

I wired $700 to my personal account back home and ended up paying $120 in different fees.

It is ridiculous. So the question is as follows..

What is the easiest and cheapest way to wire money OUT of Cambodia?

Thanks in advance

I use Crypto, a small learning curve, but well worth it. No bank, direct to the person. Usually, only pennies to send.

stupid-barang wrote: ↑Wed Jul 24, 2019 4:19 am
I use Crypto, a small learning curve, but well worth it. No bank, direct to the person. Usually, only pennies to send.

Yea, I wonder why the banks of the world oppose a global currency without transfer fees.. I hate banks, they have arranged a legal way of stealing.

Nixon wrote: ↑Fri Jul 19, 2019 9:06 pm Quick question

I wired $700 to my personal account back home and ended up paying $120 in different fees.

It is ridiculous. So the question is as follows..

What is the easiest and cheapest way to wire money OUT of Cambodia?

Thanks in advance

I am very confused about the replies to this thread. It has been 6 months since i wired money but this was my experience
1) you do not have to have a bank account to use a bank unless it is a large amount. I use acleda cos they have shorter quesus
2) Cambodia is on a grey list for mmoney laundering. One of my uk banks would not accept funds, another would so check with the receiving bank first
3) For uk it is considerably cheaper to get the cambodian bank to change the money to GBP than send it in dollars and let a UK bank do it. Cambodian banks charge about 1.5% skim on the exchange rates,which is better than most Money exhcnange companies and UK banks charge up to around 3.55 for smal amounts
4) when you send money by wire you can choose if the internediary fees are paid by you when you send or by the recipient but only if you have a bankk accounthey can charge! Alternatively ACLEDA will charge you a set fee and cover the intermediary charges. this actually works out cheaper as they charge less than a UK bank.
5) i cannot remeber the exact fees but I think i paid in total around $70 to send $20,000 back toUk. Amounts over $20,000 apparently have to be checked which holds it upa day or two, but money sent through ACLEDA on a friday morning was in my uk bank Saturday lunchtime. Not a freak as i did 3 transactions in a week.
6) usuall correspondent bank fee is between $30 and $50. If you get a list of correspondence banks from your recipeint bank and get acleda to use one of them you are charged once. if you are unklikey it will be one acleda does not have a relationship with so iy may have to go through bothe banks. Most banks using usd use Wells fargo or SCB in New york as does acleda
7) if you are sending a small amount (under $8000) then Transferwise then there are many options for Uk residence. Starling bank, transferwise and revolut. Cheapest is find someone who wants USD, get them to put gbp in your bank and gibe the usd here
if you send small amounts regulaly transferwise seems the best bet either way.

I recently remitted from ABA Bank to USA. The fee was $30 but when the money arrived a further $75 had been deducted. ABA advised me that if I paid them an additional $30 they would pay the correspondent bank fees.

For payment companies the problem is sending out of Cambodia. Sending in is no problem. I checked out transferwise and Xendpay. Sending USD to another currency is OK but they will not send USD to USD as they make their money from the spread. Ria however have a branch in Siem Reap and also show ABA Bank as one of their agents. Ria is worth checking out if you are sending USD to USD. Cant really figure out how they work from their website so would need to visit them to find out.

samrong01 wrote: ↑Thu Aug 01, 2019 3:48 am I recently remitted from ABA Bank to USA. The fee was $30 but when the money arrived a further $75 had been deducted. ABA advised me that if I paid them an additional $30 they would pay the correspondent bank fees.

For payment companies the problem is sending out of Cambodia. Sending in is no problem. I checked out transferwise and Xendpay. Sending USD to another currency is OK but they will not send USD to USD as they make their money from the spread. Ria however have a branch in Siem Reap and also show ABA Bank as one of their agents. Ria is worth checking out if you are sending USD to USD. Cant really figure out how they work from their website so would need to visit them to find out.

One of my UKbank will not send or receive to Cambodia. Another will but moneylaunder checks any going to cambodia, not coming back which weems upside down but it suits me.
You should get details from your receiving bank. it looks like it was sent through 2 intermediaries. Usually intermediary charge is $30 to $50. As in my post above ABA will use one bank and your receiving bank another. If one is on your receiving banks list and aba list and you request them to use that bank you will only pay one fee. ACLEDA has about 5 intermediaries listed, Canadia has about 15. use a bank that can do it in one hop or pay the insurance as it is usualaly about the same as a single intermediary fee anyway. 2 hops can make it take a day or two longer. happened to me twice and my uk bank refunded the fees

Check out wordremit. Com you can send to wing cash pick up or wing account, fees from £2.99+ depending on the amount sent