10 USD transfer fee for a transfer of 100 USD to ABA Bank?

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sketchyxxx
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Re: 10 USD transfer fee for a transfer of 100 USD to ABA Bank?

Post by sketchyxxx »

pissontheroof wrote: Tue May 28, 2024 1:21 pm like I can get $4 ATM fee here for any amount up to $2000 witch I do all the time
Where can $2000 ATM withdrawals be done?
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Re: 10 USD transfer fee for a transfer of 100 USD to ABA Bank?

Post by Alex »

sketchyxxx wrote: Fri Jun 07, 2024 9:38 pm
pissontheroof wrote: Tue May 28, 2024 1:21 pm like I can get $4 ATM fee here for any amount up to $2000 witch I do all the time
Where can $2000 ATM withdrawals be done?
BRED Bank ATMs.
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Re: 10 USD transfer fee for a transfer of 100 USD to ABA Bank?

Post by JF »

Doc67 wrote: Fri Jun 07, 2024 5:50 pm
Alex wrote: Fri Jun 07, 2024 5:11 pm When I made a Bakong transfer from Wing to ABA a while ago, they also charged me a fee. I switched to scanning my ABA QR code in the Wing app for this reason, and funnily enough, those QR code payments are still free at both ends.
ABA charges $0.10 for Ecash withdrawals as well. That's for anything below $100. Above that it goes up, it's their 0.1% game. It's not a lot in the grand scheme of things, and they do provide a lot of ATM's. I reckon I draw out less than $200 a month in cash, I am almost cashless.

I think they will eventually try charging on all QR payments, once everybody is completely hooked on paying using QR codes, and that's getting very close.
:facepalm: This gonna hurt for someone on fully cashless system. In Phnom Penh I use QR for everything. One good thing about cashless is that you can leave your wallet at home. For atm cash withdrawal, I noticed that you can use your mobile phone to tell the atm to withdraw cash. Which is a nice figure. I hope Kampot is the same completely cashless. Someday I hope the states catch up into cashless system. The states still use card system for atms.
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Re: 10 USD transfer fee for a transfer of 100 USD to ABA Bank?

Post by Bluenose »

Great until your phone is lost/stolen
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Re: 10 USD transfer fee for a transfer of 100 USD to ABA Bank?

Post by Alex »

JF wrote: Mon Jun 10, 2024 7:53 am
Doc67 wrote: Fri Jun 07, 2024 5:50 pm
Alex wrote: Fri Jun 07, 2024 5:11 pm When I made a Bakong transfer from Wing to ABA a while ago, they also charged me a fee. I switched to scanning my ABA QR code in the Wing app for this reason, and funnily enough, those QR code payments are still free at both ends.
ABA charges $0.10 for Ecash withdrawals as well. That's for anything below $100. Above that it goes up, it's their 0.1% game. It's not a lot in the grand scheme of things, and they do provide a lot of ATM's. I reckon I draw out less than $200 a month in cash, I am almost cashless.

I think they will eventually try charging on all QR payments, once everybody is completely hooked on paying using QR codes, and that's getting very close.
:facepalm: This gonna hurt for someone on fully cashless system. In Phnom Penh I use QR for everything. One good thing about cashless is that you can leave your wallet at home. For atm cash withdrawal, I noticed that you can use your mobile phone to tell the atm to withdraw cash. Which is a nice figure. I hope Kampot is the same completely cashless. Someday I hope the states catch up into cashless system. The states still use card system for atms.
Yes, as of now, QR code withdrawals at ABA's ATMs using their app are free.

That's what I usually do, too, but I think @Doc67 's idea might be to generate an e-cash code before going on the piss and leaving the phone at home? I've done that sometimes as well and they do charge a small fee for that.
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Re: 10 USD transfer fee for a transfer of 100 USD to ABA Bank?

Post by Doc67 »

Alex wrote: Mon Jun 10, 2024 10:55 am
JF wrote: Mon Jun 10, 2024 7:53 am
Doc67 wrote: Fri Jun 07, 2024 5:50 pm
Alex wrote: Fri Jun 07, 2024 5:11 pm When I made a Bakong transfer from Wing to ABA a while ago, they also charged me a fee. I switched to scanning my ABA QR code in the Wing app for this reason, and funnily enough, those QR code payments are still free at both ends.
ABA charges $0.10 for Ecash withdrawals as well. That's for anything below $100. Above that it goes up, it's their 0.1% game. It's not a lot in the grand scheme of things, and they do provide a lot of ATM's. I reckon I draw out less than $200 a month in cash, I am almost cashless.

I think they will eventually try charging on all QR payments, once everybody is completely hooked on paying using QR codes, and that's getting very close.
:facepalm: This gonna hurt for someone on fully cashless system. In Phnom Penh I use QR for everything. One good thing about cashless is that you can leave your wallet at home. For atm cash withdrawal, I noticed that you can use your mobile phone to tell the atm to withdraw cash. Which is a nice figure. I hope Kampot is the same completely cashless. Someday I hope the states catch up into cashless system. The states still use card system for atms.
Yes, as of now, QR code withdrawals at ABA's ATMs using their app are free.

That's what I usually do, too, but I think @Doc67 's idea might be to generate an e-cash code before going on the piss and leaving the phone at home? I've done that sometimes as well and they do charge a small fee for that.
Yes, I was referring to an E-Cash 6 digit code, that's how I withdraw all the cash I use. I wasn't aware that you can get cash out with a QR code at the machine for free. I can't see why a QR cash withdrawal is free but an E-cash is chargeable, it is still cash handling and ATM use.

I always have my phone on me when I am out because that's my access to Grab so I can get home and to pay all my bills with the ABA app whenever possible. This is why I spend sod all cash in a month.
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Re: 10 USD transfer fee for a transfer of 100 USD to ABA Bank?

Post by orichá »

Doc67 wrote: Fri Jun 07, 2024 6:01 pm Interesting to know about Woori and their 3% rate on current account balances. But I can't help seeing Woori and thinking Worry.
Why worry over dealing with Woori?

...Inside dope says Woori — and some other banks, like Sathaphana — a commercially oriented MFI lender to new business startups, real estate investment and car and home loans — are all in the red this year.

In fact, right now, several banks are in the red across Asia this year. Their debts are mostly due to bad real estate deals.

Anyway, Woori is Korean, so their gobernmento might bail them out, should the need arise. Their term deposit investment returns used to be over 8% when they first opened shop around 2017 or 18 or so; now they offer much less... could be a hint behind that 3%?

A lot of MFIs in Cambodia have large chunks of their capital supply coming from various unlikely places: Hong Kong (AMK) and contracts at Lolc were previously owned by Sri Lankans. Also, there are Taiwanese and Chinese investors in several banks here, not to mention Americans, and as most of you know, the National Bank of Canada (ABA), which is, by the way, rumored to be contemplating the sale of their Cambodian bank...

Cambodia is still kind of a poor country. I would imagine much of the foreign direct investment feeds it's locally-earned returns/profits back home into what are foreign banks on foreign soil far from Cambodia. Same as oil companies in Africa, I guess. Workers get about 200 US dollars a month here in a sweatshop, so methinks most of the cash earned ends up elsewhere, hey? Singapore, Shanghai, New York, Geneva, Mauritius, Seychelles, Jersey, Caymans, etc, etc ...

( Lol, I paid a fee of 35 dollars years ago to transfer a sum of money to Cambodia from Canada. Anyway, the larger the amount you transfer in one go, the closer to the real exchange rate you will realize . But only if you follow this hint: if you are a Canadian or Australian, or from the UK, try to open a US dollar account in your home country and convert the money into US dollars BEFORE you send it via SWIFT internationally. You can also simply ask your home bank to "make the transfer in US dollars" if they offer that facility, as many Canadian banks do. That way, the crooked "intermediary" banks in NYC cannot ding you a huge sum on the "conversion" from your home country currency into US dollars, which is the only currency accepted by banks here in Cambodia for inbound transfers...as you all ought to know ...unless you are a wealthy Chinese I suppose... Of course, I am unaware if you can do internal conversions to US dollars from banks in Europe, the UK and Australia. In Canada, you can do it in most banks and credit unions because we Canadians do so much cross border business with the US that our banks can help you beat the NYC crook system when doing SWIFT transfers... <God, American banks are all such thieves! From VISA — which did not honour it's promise to repay money stolen fraudulently from my account — to Western Union, which will steal literally hundreds and hundreds through onerous "exchange rates", if you are fool enough to transfer "Canadian dollars" into a "Cambodian US dollar account" via SWIFT.> ...Again, basic rule of thumb is to transfer ONLY US dollars from point of origin to your local US dollar account here in the land of the wandering launderers. . . So, just forget about Sterling, Canadian and Australian dollars entirely! )

Anyway, take your chances. . . . Have fun.

What has it got in its pocketses...?

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Re: 10 USD transfer fee for a transfer of 100 USD to ABA Bank?

Post by Darkcel »

MoneyGram/WU has cheap transfer fees when you use a debit card, I'm talking 1.99 for sending 2500 USD. I believe MoneyGram I'm able to pick up through my ABA app in minutes.
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Re: 10 USD transfer fee for a transfer of 100 USD to ABA Bank?

Post by pissontheroof »

I noticed this meme on myface
Could not decide where it should be displayed
Here ? Or oh the internet !


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