A Silly Question, but...

This is a part of our Cambodia forums to chat about anything Cambodia-related. This discussion forum is at the top of our site because it's usually the busiest part of the expat community chatter with random topics on just about everything, including expat life, Khmer politics, Cambodian blogs we have or have come across, or whatever else our members want to discuss. Whether you're an expatriate, tourist, Cambodian or random traveler just passing through South East Asia, you are welcome to talk about anything or start new topics yourselves.
Ronny
BANNED
Posts: 418
Joined: Sun Mar 12, 2017 3:00 pm
Reputation: 28

A Silly Question, but...

Post by Ronny » Sat Jun 03, 2017 11:34 pm

Hey guys. I know this sounds silly to some of you, but how did you guys get your money into Cambodia without having a banking account there? Traveler's checks or what? And what does it take to open a banking account there? What are the requirements?
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: A Silly Question, but...

Post by Jamie_Lambo » Sun Jun 04, 2017 12:14 am

Ronny wrote:
Sat Jun 03, 2017 11:34 pm
Hey guys. I know this sounds silly to some of you, but how did you guys get your money into Cambodia without having a banking account there? Traveler's checks or what? And what does it take to open a banking account there? What are the requirements?
not silly mate,
before i just used my English bank card and just used the ATMs id take out about $290 out each time (if you take out $300 you would likely get 3x $100 bills) would cost me about £7 each transaction,
all the ATMs accepted my English Visa bank card

i then got a Cambodian bank account with ABA and just transfer my money over online, much easier and cheaper,

to open my account all i needed was my passport with visa extension, proof of my address (lease agreement or something that has your address on) and some money to open the account, think that was it,
its very simple, as long as you have your stuff, they do all the fiddly stuff, i even had them set up the mobile banking app on my phone whilst i was there
:tophat: Mean Dtuk Mean Trei, Mean Loy Mean Srey
Punchy McShortstacks School of Hard Knocks :x
User avatar
John Bingham
Expatriate
Posts: 6238
Joined: Sun Dec 07, 2014 11:26 pm
Reputation: 2133
Yemen

Re: A Silly Question, but...

Post by John Bingham » Sun Jun 04, 2017 12:21 am

There's a wide range of options. Because of space constrictions, high value notes such as €500 are preferable:

Image
User avatar
Duncan
Sir Duncan
Posts: 6519
Joined: Tue Jun 03, 2014 8:22 pm
Reputation: 1443
Location: Wonder Why Central

Re: A Silly Question, but...

Post by Duncan » Sun Jun 04, 2017 10:38 am

Ronny wrote:
Sat Jun 03, 2017 11:34 pm
Hey guys. I know this sounds silly to some of you,

but how did you guys get your money into Cambodia without having a banking account there?

Traveler's checks or what? And what does it take to open a banking account there? What are the requirements?







I've had no problem bringing $ 9,900 with me in $100 notes every six months. I'm happy to do that knowing I'm not getting ripped off by bank charges and their shitty exchange rate.

All kept in a '' under the mattress '' bank.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
Ronny
BANNED
Posts: 418
Joined: Sun Mar 12, 2017 3:00 pm
Reputation: 28

Re: A Silly Question, but...

Post by Ronny » Sun Jun 04, 2017 11:18 am

I was thinking about just taking a lot of Traveler's Checks with me when I go there (Maybe $20,000 or so). Does that sound about right?
User avatar
PSD-Kiwi
Expatriate
Posts: 2826
Joined: Wed Jul 09, 2014 8:25 am
Reputation: 711
New Zealand

Re: A Silly Question, but...

Post by PSD-Kiwi » Sun Jun 04, 2017 11:25 am

Ronny wrote:
Sun Jun 04, 2017 11:18 am
I was thinking about just taking a lot of Traveler's Checks with me when I go there (Maybe $20,000 or so). Does that sound about right?
Cambodian banks no longer recognize or accept Traveler's cheques.

Are you coming as a tourist, or to live? If you're coming to live, open an account with ABA once here and then just transfer funds via SWIFT from your home bank account.
User avatar
Duncan
Sir Duncan
Posts: 6519
Joined: Tue Jun 03, 2014 8:22 pm
Reputation: 1443
Location: Wonder Why Central

Re: A Silly Question, but...

Post by Duncan » Sun Jun 04, 2017 12:08 pm

Ronny wrote:
Sun Jun 04, 2017 11:18 am
I was thinking about just taking a lot of Traveler's Checks with me when I go there (Maybe $20,000 or so). Does that sound about right?




You would have to declare at customs anything over USA $10,000 even if it is travelers cheques.
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
Ronny
BANNED
Posts: 418
Joined: Sun Mar 12, 2017 3:00 pm
Reputation: 28

Re: A Silly Question, but...

Post by Ronny » Sun Jun 04, 2017 2:45 pm

Cambodian banks no longer accept Traveler's Checks??? Since I'm in Thailand, I'll simply be crossing the border (no airplane) so do I have to declare anything at the border? And when I go I will be planning to stay for some time and I will not be a tourist. And if I took cash across the border, how much could I take?
User avatar
PSD-Kiwi
Expatriate
Posts: 2826
Joined: Wed Jul 09, 2014 8:25 am
Reputation: 711
New Zealand

Re: A Silly Question, but...

Post by PSD-Kiwi » Sun Jun 04, 2017 3:02 pm

That's right, Cambodian banks no longer recognize or accept travelers cheques.

Technically you are supposed to declare if you are carrying USD$10,000+ cash or equivalent, many countries have the same requirement. They won't take it off you if that's what you're worried about, but you are supposed to declare it, although I highly doubt Customs will actually check, especially at a land border crossing. If you're really worried, hollow out a couple of books and hide the cash inside, I used to do that when working in Afghan and was getting paid in cash.

I'd be more concerned about travelling and staying in hotels/guesthouses with huge sums of cash.

Do you have a visa/mastercard debit card with your bank in Thailand? Why not just use that?
cambo swa
Expatriate
Posts: 224
Joined: Tue Jan 31, 2017 12:54 pm
Reputation: 57
Cambodia

Re: A Silly Question, but...

Post by cambo swa » Mon Jun 05, 2017 5:20 am

Yes, for most countries including Cambodia you must declare possession of $10,000 USD or more when entering that country but for Thailand it is $20,000. The law does not forbid you from bringing more than those cash amounts into the countries but you should be prepared for potentially detailed questioning about the source and/or planned use of that cash.
Post Reply Previous topicNext topic
  • Similar Topics
    Replies
    Views
    Last post

Who is online

Users browsing this forum: Bing [Bot], DaveG, Duncan, explorer, gargarouf, Google Adsense [Bot], paul2d, sophonhang, TeachingForPeanuts, Whatsupdoc and 160 guests