My adventure opening a bank account at Acleda

Post by **Clutch Cargo** » Thu Feb 27, 2020 3:12 pm

Ghostwriter wrote: ↑Thu Feb 27, 2020 2:19 am " Then she says: how about you give me the cash now and I'll transfer the money from my account to yours.. "

Whaaat ?
Nothing fishy here ?

Haha yeah...I reported that the wrong way around.. I gave her the $$ after my phone went 'ding' with an app notification and she showed me the balance in the account.

Post by **Clutch Cargo** » Thu Feb 27, 2020 3:20 pm

SternAAlbifrons wrote: ↑Thu Feb 27, 2020 2:20 am Sorry Clutch, but you know how rude we are in Cambodia

How much money is in that account now?

How much do you earn?

Do you own a house and land back home?

So that ATM card is ready to go...?

Yeah, it's funny Stern when I opened my ABA account they wanted to know how much I earn... Worse, when I went with my GF to set hers up, they turned to me and asked whether I would be regularly transferring $$ into her account! Very insulting as she has her own job and money to deposit.

Acleda didn't ask at all.

I find it all a bit much really...you'd think logically they'd be trying hard to get new accounts and $$$ in. And if I were a bum, they'd still hold the $10-20 until you close the account.

Post by **Clutch Cargo** » Thu Feb 27, 2020 3:36 pm

Duncan wrote: ↑Thu Feb 27, 2020 2:51 am I would have to say I have had good service in the past at that head office in Monivong but don't have money any more so don't have use for a bank now.

My big question is,,,, with the A$ at the lowest level in eleven years, is it the right time to change A$ to US$

Indeed Duncan and there's talk the RBA will cut interest rates again next Tuesday so we better get ready for further drops in the $A.

I don't actually have an immediate need to transfer large amounts although who knows how long it will stay low being a commodity currency and with our dependency on China for 38% of our exports. Either China has to boost up again quick or the $US has to crash. We could be waiting a long time before that happens.. Ah, memories of when I first cam to Cambodia and AUD and USD were parity

What I really want to do now is just be set up for it in the event I need to do so. As I haven't done this type of thing before I might even cop some fees and do 2 test transfers for relatively small amounts..one with Transferwise and one with AUDSmart.. just to verify that it goes through OK, which one is the quickest and confirm the fees. Apparently you have to add the recipient bank and intermediary fees for Transferwise whereas AUDSmart cover those but of course you get a less favourable exchange rate.. I still have to compare the differences for small/medium/large amounts.

Duncan · Post by **Duncan** » Thu Feb 27, 2020 4:15 pm

I have used these guys a couple of times in the past for large amounts A$ to US $ into Cambodia They were good.
Formally called OZFOREX

https://r.search.yahoo.com/_ylt=Awr9DuR ... f6IPhFimo-

Post by **Clutch Cargo** » Thu Feb 27, 2020 4:26 pm

pczz wrote: ↑Thu Feb 27, 2020 5:23 am
newkidontheblock wrote: ↑Thu Feb 27, 2020 3:28 am Wasn’t there a poster singing the praises of ACLEDA a while back saying no waiting, no lines, fast service? And how ABA was so much worse compared to ACLEDA?
yes, it was me. And i stand by it. Best time to go is between 2 and 3. Head office is equally empty at those times, usually. Clutch seems to have gone around 4 which is "i will pop in the bank on the wayhome from work"time. In another thread an ABA customer was having more issues. ABA apparently only allow $10,000 outward transfer without an invoice form other countryl, ACLEDA allow 20,000 if its going to your own account abroad. With regard to the need for a lease, that appears to be a new thing for all banks because a month ago i was asked for a lease stamped by the Sangkat to open an extra account at Prasac, even though I had been a customer for years and already had 2 accounts. BTW PRasac still offer 8% on term deposits in USD.

When I want to do a wire transfer at ACLEDA monivong I show the guy by the ticket machine the last transfer form. then he takes me straight to the front of the q and the nice lady there fills in the whole thing for me. I have never found a time when ABA head office, Central MArket or Mao is not busy except at night. In aeon there is almost always a q at the 1 atm they have as opposed to ACLEDA which has about 10. The catch is that ACLEDA charge you 50 cents a month forTOANCHET and 50cents a month for internet banking, but AFAIK the new TOANCHET does everything you can do on internet banking except wire transfers. Its a bit clunky compared to ABA but it has higher security wit a 6 didgit pin on the app.You can now also transfer money with TOANCHET to other banks

Good point guys. I need to elaborate...I later realised the 40 min wait was because I selected 'new account' on the ticket machine. So it's a 4 digit number starting with a 9 and I noticed there was only one other on the board with a 9 stuck on the same cubicle. The other numbers were turning over pretty quickly I must say and certainly whenever I've been at ABA central market it always seems crowded.

Yeah, the 50c a month for the app is a catch and she didn't mention the same for internet banking.

pczz- when you say 'wire transfer' you mean international? ie the same as 'swift' transfers? Also can you transfer from Acleda to ABA? I had a quick look on both apps and didn't seem obvious to me that you can but could be wrong.

Spigzy · Post by **Spigzy** » Thu Feb 27, 2020 4:28 pm

Post by **Clutch Cargo** » Thu Feb 27, 2020 4:34 pm

Thanks for the likes..I thought it was a funny tale to tell. Started off feeling frustrated and nearly gave up waiting at the head office for a long time but the outcome was good and a case of dogged persistence pays off in this instance. Gotta say that beer when I got home never tasted so good

pczz · Post by **pczz** » Fri Feb 28, 2020 3:27 am

clutchcargo wrote: ↑Thu Feb 27, 2020 4:26 pm
pczz wrote: ↑Thu Feb 27, 2020 5:23 am
newkidontheblock wrote: ↑Thu Feb 27, 2020 3:28 am Wasn’t there a poster singing the praises of ACLEDA a while back saying no waiting, no lines, fast service? And how ABA was so much worse compared to ACLEDA?
yes, it was me. And i stand by it. Best time to go is between 2 and 3. Head office is equally empty at those times, usually. Clutch seems to have gone around 4 which is "i will pop in the bank on the wayhome from work"time. In another thread an ABA customer was having more issues. ABA apparently only allow $10,000 outward transfer without an invoice form other countryl, ACLEDA allow 20,000 if its going to your own account abroad. With regard to the need for a lease, that appears to be a new thing for all banks because a month ago i was asked for a lease stamped by the Sangkat to open an extra account at Prasac, even though I had been a customer for years and already had 2 accounts. BTW PRasac still offer 8% on term deposits in USD.

When I want to do a wire transfer at ACLEDA monivong I show the guy by the ticket machine the last transfer form. then he takes me straight to the front of the q and the nice lady there fills in the whole thing for me. I have never found a time when ABA head office, Central MArket or Mao is not busy except at night. In aeon there is almost always a q at the 1 atm they have as opposed to ACLEDA which has about 10. The catch is that ACLEDA charge you 50 cents a month forTOANCHET and 50cents a month for internet banking, but AFAIK the new TOANCHET does everything you can do on internet banking except wire transfers. Its a bit clunky compared to ABA but it has higher security wit a 6 didgit pin on the app.You can now also transfer money with TOANCHET to other banks
Good point guys. I need to elaborate...I later realised the 40 min wait was because I selected 'new account' on the ticket machine. So it's a 4 digit number starting with a 9 and I noticed there was only one other on the board with a 9 stuck on cubicle 14. The other numbers were turning over pretty quickly I must say and certainly whenever I've been at ABA central market it always seems crowded.

Yeah, the 50c a month for the app is a catch and she didn't mention the same for internet banking.

pczz- when you say 'wire transfer' you mean international? ie the same as 'swift' transfers? Also can you transfer from Acleda to ABA? I had a quick look on both apps and didn't seem obvious to me that you can but could be wrong. Even if i value my time at 1 cent an hour ACLEDA fees are acceptable given the amount of time I save

yes i do mean wire transfer. With regard to trnafers to toher banks I have not followed up. last week I got a message through toanchet saying that you could not transfer money to other baks using Retail Pay but it did not specify which banks or if there were any charges. if you go to your home page in toan chet and swipe left you will find retail pay. you may have to ask in branch for details

Post by **Clutch Cargo** » Fri Feb 28, 2020 6:45 pm

pczz wrote: ↑Fri Feb 28, 2020 3:27 am With regard to trnafers to toher banks I have not followed up. last week I got a message through toanchet saying that you could transfer money to other baks using Retail Pay but it did not specify which banks or if there were any charges. if you go to your home page in toan chet and swipe left you will find retail pay. you may have to ask in branch for details

Ah right thanks. I found that message in the Toanchet notifications. So, Retail Pay>Real Time Fund Transfer>To Bank account>Beneficiary Bank Name> there are 8 banks listed there incl notably..Canadia, Prasac but NOT ABA. I haven't got Internet Banking yet so can't check there but I doubt it would be any more than what the app can do.

Had another look in the ABA app and you can't transfer to another local bank...neither via their Internet banking. However there's some sort of in branch transfer with a small fee: https://www.ababank.com/domestic-transfers/ I don't know whether Acleda has a similar in branch transfer like that...I'll ask next I go pick up the ATM card.

BTW ABA have a promo of no inward fee Swift transfers from certain countries: https://www.ababank.com/en/promotions/f ... transfers/ however, I imagine there is still the intermediary bank fee and unfavourable exchange rate (altho I haven't compared yet with non bank providers).

Also my ABA gold mastercard costs $15/year (NB classic mastercard/visa cards are $5) but app and internet banking are free. Acleda visa card $6/year, app $6/year, internet banking $6/year.

mouytiet · Post by **mouytiet** » Fri Feb 28, 2020 7:56 pm

Cple years ago told by my employer at the the time had to open account with them, went head office Monivong, they couldn't find account in company name but no problem gave them $10 signed cple of forms, had a card and passbook within about 15 mins, used to love goin there about 15 loverly women seeminmgly with fck all to do to each customer, only problem with ACLEDA serious lack of ATM,s around town.

My adventure opening a bank account at Acleda

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