Kammekor wrote: ↑Fri Sep 20, 2024 3:46 pm

Alex wrote: ↑Fri Sep 20, 2024 10:58 am

Kammekor wrote: ↑Fri Sep 20, 2024 8:16 am

Alex wrote: ↑Thu Sep 19, 2024 11:50 am Are there riel accounts that cost money to open or to operate? My only riel account is with ABA Bank and they've never charged me anything to the best of my knowledge.

Doesn't ABA require a non refundable first deposit of 10$ for USD accounts?

Not sure what you mean with that, there's a minimum initial deposit, but whatever your deposit is, gets credited to your account. In my case, I rocked up with $300 to open my first USD account with them in person at their head office, and those $300 were then my opening balance without any deductions.

Note, however, that my point in the post you've quoted is that I've never been charged for my riel account. What this thread is about. If you want to talk fees in general, I was obviously charged for some things related to my USD account, such as debit card fees.

Maybe I should have use the word 'non deductible'?

It's the same for accounts in riels AFAIK, but then there's a 10k riel 'non deductible deposit'.

Alex wrote: ↑Sat Sep 21, 2024 12:04 pm

Kammekor wrote: ↑Fri Sep 20, 2024 3:46 pm

Alex wrote: ↑Fri Sep 20, 2024 10:58 am

Kammekor wrote: ↑Fri Sep 20, 2024 8:16 am

Alex wrote: ↑Thu Sep 19, 2024 11:50 am Are there riel accounts that cost money to open or to operate? My only riel account is with ABA Bank and they've never charged me anything to the best of my knowledge.

Doesn't ABA require a non refundable first deposit of 10$ for USD accounts?

Not sure what you mean with that, there's a minimum initial deposit, but whatever your deposit is, gets credited to your account. In my case, I rocked up with $300 to open my first USD account with them in person at their head office, and those $300 were then my opening balance without any deductions.

Note, however, that my point in the post you've quoted is that I've never been charged for my riel account. What this thread is about. If you want to talk fees in general, I was obviously charged for some things related to my USD account, such as debit card fees.

Maybe I should have use the word 'non deductible'?

It's the same for accounts in riels AFAIK, but then there's a 10k riel 'non deductible deposit'.

I really don't know what you mean. I could spend or withdraw whatever is in my account, down to the last cent. As my main USD account with ABA Bank essentially serves as my day-to-day spending account whenever I'm in Cambodia, that actually happens quite frequently. If you're suggesting (and I'm really not sure you are) that there's a $10 deposit that I cannot spend or withdraw, that definitely isn't the case. Just last month, for example, my balance went down to $3 before I replenished the account. The only time when my "actual" and "available" balances shown in the app differ is when there are pending debit card transactions that are clearly shown as well.

xandreu wrote: ↑Sat Sep 21, 2024 12:48 pm I've never quite understood why they don't just knock off a couple of zeros from the riel to make it easier to understand. There are many currencies around the world where the lowest denomination is something like 100 or 500 or 1000, or sometimes more. I'm clearly no economist, but when it gets to the stage where the lowest denomination is 100, what's stopping them from just knocking a couple of zeros off and saying 100 riel is now 1 riel, but it's worth the same. 4000 riel is now 40 riel, but it's worth the same?

Surely it can't be that difficult? It's just paper after all, and money pretty much works by everyone agreeing on its worth. If everyone agreed that all riel denominations from a certain date had two zeros knocked off but the value was the same, what's the reason they don't / can't?

xandreu wrote: ↑Sat Sep 21, 2024 12:48 pm I've never quite understood why they don't just knock off a couple of zeros from the riel to make it easier to understand. There are many currencies around the world where the lowest denomination is something like 100 or 500 or 1000, or sometimes more. I'm clearly no economist, but when it gets to the stage where the lowest denomination is 100, what's stopping them from just knocking a couple of zeros off and saying 100 riel is now 1 riel, but it's worth the same. 4000 riel is now 40 riel, but it's worth the same?

Surely it can't be that difficult? It's just paper after all, and money pretty much works by everyone agreeing on its worth. If everyone agreed that all riel denominations from a certain date had two zeros knocked off but the value was the same, what's the reason they don't / can't?