Questions about Banking

Ask us anything. Cambodia Expat's Online has a huge community of long term expats that can answer any question you may have about life in Cambodia. Have some questions you want to ask before you move to Cambodia? Ask them here. Our community can also answer any questions you have about how to find a job or what kind of work is available for expats in Cambodia, whether you're looking for info about Phnom Penh, Siem Reap or anywhere else in the Kingdom. Don't be shy, ask CEO's members anything!
Djimbe
Tourist
Posts: 6
Joined: Sun Oct 09, 2016 12:53 am
Reputation: 0
Cambodia

Questions about Banking

Post by Djimbe » Mon Oct 10, 2016 12:46 am

My friend and I will be moving to Cambodia in about a month from America. We both have bank accounts with Bank of America, and we currently are receiving a regular income from them.

I know that there are transaction fees for using ATMs, and I also know that Bank of America charges $45 for a bank transfer fee. My question is, what is the smartest way to set up banking in Cambodia? Is Canadia bank still the best option (it seems to be the only one I see expats talk about personally using)?
User avatar
Jamie_Lambo
The Cool Boxing Guy
Posts: 13741
Joined: Mon Apr 20, 2015 10:34 am
Reputation: 1936
Location: Naklua
Contact:
Great Britain

Re: Questions about Banking

Post by Jamie_Lambo » Mon Oct 10, 2016 12:51 am

Djimbe wrote:My friend and I will be moving to Cambodia in about a month from America. We both have bank accounts with Bank of America, and we currently are receiving a regular income from them.

I know that there are transaction fees for using ATMs, and I also know that Bank of America charges $45 for a bank transfer fee. My question is, what is the smartest way to set up banking in Cambodia? Is Canadia bank still the best option (it seems to be the only one I see expats talk about personally using)?
most expats i know (including myself) use ABA, Canadia isnt a bad option either though from what ive heard

ABA ATMs are everywhere and one of the most popular around
:tophat: Mean Dtuk Mean Trei, Mean Loy Mean Srey
Punchy McShortstacks School of Hard Knocks :x
Anchor Moy
Expatriate
Posts: 9525
Joined: Wed May 28, 2014 11:37 pm
Reputation: 1368
Tokelau

Re: Questions about Banking

Post by Anchor Moy » Mon Oct 10, 2016 1:32 am

Second JL's vote for ABA. We checked out all the Cambodian banks and that was the best deal for us overall.
User avatar
PSD-Kiwi
Expatriate
Posts: 2826
Joined: Wed Jul 09, 2014 8:25 am
Reputation: 711
New Zealand

Re: Questions about Banking

Post by PSD-Kiwi » Mon Oct 10, 2016 9:46 am

ABA for sure, they have a great online banking system.
Luigi
Expatriate
Posts: 1961
Joined: Thu Apr 30, 2015 6:12 pm
Reputation: 108

Re: Questions about Banking

Post by Luigi » Mon Oct 10, 2016 6:24 pm

https://www.ababank.com/about-aba/about-us/

https://www.canadiabank.com.kh/en/

Maybe not everything you might want to know about your banking institution but a good start.
lostjeremy
Expatriate
Posts: 258
Joined: Thu Feb 25, 2016 7:00 pm
Reputation: 110

Re: Questions about Banking

Post by lostjeremy » Tue Oct 11, 2016 8:11 pm

The smartest thing is to close your BoA account and open a Charles Schwab bank account before u leave to continue getting your US income deposited into. Zero foreign transaction or ATM charges with Schwab (they refund all at the end if each month). I've been using them for years for that exact reason.

I don't care if the ATM says there us a $50 charge to use my card because I know I'll get it back on the 30th of each month like clockwork.



Sent from my Furious 7 Pro using Tapatalk
Luigi
Expatriate
Posts: 1961
Joined: Thu Apr 30, 2015 6:12 pm
Reputation: 108

Re: Questions about Banking

Post by Luigi » Wed Oct 12, 2016 2:35 pm

[quote="lostjeremy"]The smartest thing is to close your BoA account and open a Charles Schwab bank account before u leave to continue getting your US income deposited into. Zero foreign transaction or ATM charges with Schwab (they refund all at the end if each month). I've been using them for years for that exact reason.

I don't care if the ATM says there us a $50 charge to use my card because I know I'll get it back on the 30th of each month like clockwork.


^^^Best answer here.

I've been with Schwab now 6 yrs. Never a problem. Excellent & attentive staff. Want to talk with a human? No problem ever.
Move $ between accounts with a key stroke. Move $ from country to country, no problem.

BoA my former bank gave me nothing but grief. When they acquired Merrill Lynch my former broker I cut the cord & never looked back. :hattip:
Post Reply Previous topicNext topic
  • Similar Topics
    Replies
    Views
    Last post