Best Method to Transfer money to Cambodia

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Kenr
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Re: Best Method to Transfer money to Cambodia

Post by Kenr »

pissontheroof wrote: Mon Oct 03, 2022 7:40 pm This is a ( name ) BRED bank I don’t have an account at but after all these years here ,
it’s the least spensive of all the other ones I ever used ,
When i got here in 2011 i used to get $800 max ( a day ) out of canadia bank then , then i would use UCB bank for out $1000 max
There were times I had to use ABA , cost is more spensive .
Now this one BRED Bank allow $2000 out at each crack , I don’t have an account with them ,
just visa debit card from Bank of America
Thank you for the info sir.
ofparadise
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Re: Best Method to Transfer money to Cambodia

Post by ofparadise »

I've been using this now for 2 months - GlobalExchangeCo on the play store.

It's a small operation that serves only a few accounts. Signing up is not easy though. I had to wait for a referral, and had to go for an in person kyc meeting in phnom penh. The rates are unbeatable though for asian cross-bank transfers. They use usdt in the backend, and offer mid-market rates. Once I got approved, it takes just a few hours for the funds to arrive, and I have the option of either a meetup or a direct to bank or to keep it as usdt. Works well for larger transfers though, 50k and above. The rates get better depending on the amount.
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CEOCambodiaNews
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Re: Best Method to Transfer money to Cambodia

Post by CEOCambodiaNews »

Artisan wrote: Tue Sep 20, 2022 6:19 pm https://app.riamoneytransfer.com
open your ABA app - transfers - international transfers - Ria money transfers
enter 11 digits (copy paste from e.g. mail)
easy-peasy
UPDATE on Ria money transfers to Cambodia :
Euronet (EEFT) Unit Ties Up to Boost Cambodia's Money Transfers
Zacks Equity Research March 10, 2023
EEFT - Free Report) business segment Ria Money Transfer recently collaborated with the renowned retail bank of Cambodia - ACLEDA Bank Plc. The tie-up serves a dual purpose of expanding the reach of Ria’s network as well as bringing about improved cross-border money transfer services across Cambodia.

Around 300 cash pickup and payout locations of ACLEDA stretched throughout the country will now form a part of Ria’s network. This, in turn, will make Ria’s global money transfer services available at a total of 4,318 locations in Cambodia and undoubtedly, lead to a strong nationwide foothold for EEFT.

Additionally, utilization of Ria’s credible services will offer some lucrative benefits of cash payments, account deposits as well as cash collection in both KHR (Cambodian Riel) and USD (United States Dollars) to Cambodians and foreigners staying in the country. Also, people from any corner of the globe can transfer funds to a Cambodian bank account in real time with the help of Ria’s network, which boasts over 500,000 worldwide retail locations.

The latest tie-up reflects Euronet’s sincere efforts to occupy a significant share in Cambodia’s remittance market, which continues to witness a significant transfer of funds to and from the country. A minimum of 1.3 million Cambodians reside and work abroad, while two-thirds of them resort to sending money home. Remittances worth $1.25 billion were sent to Cambodia in 2022, which was 8% higher than the figure reported in 2021. This demonstrates the timeliness of EEFT’s recent move.

Continuous addition of locations within the money transfer network of Euronet is expected to generate more transactions and fetch higher revenues for its Money Transfer segment. The unit contributed the most to the top line of EEFT in 2022. The number of transactions processed on its money transfer network has witnessed a CAGR of around 8.3% over the 2018-2022 period.

Last year, the Money Transfer segment added over 32,000 network locations. Benefiting on the back of consistent growth in Euronet’s physical and digital distribution networks, the unit generated revenues of $1,444.5 million in 2022. The figure grew 3% year over year (up 9% on a constant currency basis).

The efficiency of the Money Transfer unit has also received a boost from the utilization of Euronet’s Ren Payments Platform, the sound technology of which makes it deployable across multiple physical locations. The platform is entrusted to perform payments processing as well as deliver issuing, acquiring and real-time payment services to a wide range of industries. In February 2023, EEFT inked a deal with LATAM digital wallet provider, SOLFIN, enabling Ren to extend card issuing services over the next decade.
https://www.zacks.com/stock/news/206424 ... -transfers
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