One thing I noticed about banks in Cambodia vs. back home is they treat people better, and waiting times are way shorter.

Bank trip back home, minimum 1 hour, here 10-15 minutes.

timmydownawell wrote: ↑Thu Nov 30, 2017 5:30 pm I have an ABA account. Transfers to Cambodia via TT (telegraphic transfer) all go via intermediary banks who also take a cut, with a few exceptions. If you only need $500 to $1000 at a time there are some ATMs that don't charge a withdrawal fee (Maybank ATMs for some, but not all, Visa cards, and Vietnam's MB Bank ATMs for Mastercard, but the latter has very few ATMS)

Does it matter which intermediary bank you use when transferring money to my ABA account from abroad? They told me to use the one with the same currency as my home country bank, but neither of them have my currency.

username wrote: ↑Thu Nov 30, 2017 9:46 pm

timmydownawell wrote: ↑Thu Nov 30, 2017 5:30 pm I have an ABA account. Transfers to Cambodia via TT (telegraphic transfer) all go via intermediary banks who also take a cut, with a few exceptions. If you only need $500 to $1000 at a time there are some ATMs that don't charge a withdrawal fee (Maybank ATMs for some, but not all, Visa cards, and Vietnam's MB Bank ATMs for Mastercard, but the latter has very few ATMS)

Does it matter which intermediary bank you use when transferring money to my ABA account from abroad? They told me to use the one with the same currency as my home country bank, but neither of them have my currency.

You don't get a choice, the bank where you send the money sends it via their intermediary AFAIK. Your bank will charge a fee, the intermediary will take a cut and I think ABA will also charge $10. I only did this a couple of times, then switched to making lots of $500 ATM withdrawals from the fee-free machines.

timmydownawell wrote: ↑Fri Dec 01, 2017 8:59 am

username wrote: ↑Thu Nov 30, 2017 9:46 pm

timmydownawell wrote: ↑Thu Nov 30, 2017 5:30 pm I have an ABA account. Transfers to Cambodia via TT (telegraphic transfer) all go via intermediary banks who also take a cut, with a few exceptions. If you only need $500 to $1000 at a time there are some ATMs that don't charge a withdrawal fee (Maybank ATMs for some, but not all, Visa cards, and Vietnam's MB Bank ATMs for Mastercard, but the latter has very few ATMS)

Does it matter which intermediary bank you use when transferring money to my ABA account from abroad? They told me to use the one with the same currency as my home country bank, but neither of them have my currency.

You don't get a choice, the bank where you send the money sends it via their intermediary AFAIK. Your bank will charge a fee, the intermediary will take a cut and I think ABA will also charge $10. I only did this a couple of times, then switched to making lots of $500 ATM withdrawals from the fee-free machines.

Aha, so all I need is my ABA account information, with no mentions of the intermediary banks? Sorry if I ask stupid questions, but I got very confused while talking to ABA.

Fee-free machines isn't really a good choice for me, as my bank offers a terrible exchange rate for atm transactions, while bank transfers benefits the official exchange rate. The fees are much lower than what I'd have to pay in extortionate exchange rates.

username wrote: ↑Fri Dec 01, 2017 12:51 pm

timmydownawell wrote: ↑Fri Dec 01, 2017 8:59 am

username wrote: ↑Thu Nov 30, 2017 9:46 pm

timmydownawell wrote: ↑Thu Nov 30, 2017 5:30 pm I have an ABA account. Transfers to Cambodia via TT (telegraphic transfer) all go via intermediary banks who also take a cut, with a few exceptions. If you only need $500 to $1000 at a time there are some ATMs that don't charge a withdrawal fee (Maybank ATMs for some, but not all, Visa cards, and Vietnam's MB Bank ATMs for Mastercard, but the latter has very few ATMS)

Does it matter which intermediary bank you use when transferring money to my ABA account from abroad? They told me to use the one with the same currency as my home country bank, but neither of them have my currency.

You don't get a choice, the bank where you send the money sends it via their intermediary AFAIK. Your bank will charge a fee, the intermediary will take a cut and I think ABA will also charge $10. I only did this a couple of times, then switched to making lots of $500 ATM withdrawals from the fee-free machines.

Aha, so all I need is my ABA account information, with no mentions of the intermediary banks? Sorry if I ask stupid questions, but I got very confused while talking to ABA.

Fee-free machines isn't really a good choice for me, as my bank offers a terrible exchange rate for atm transactions, while bank transfers benefits the official exchange rate. The fees are much lower than what I'd have to pay in extortionate exchange rates.

Yes, just give your bank your ABA account number and ABA's SWIFT code (ABA have a printout they can give you, but your bank can probably look it up anyway).

My ATM transactions have had very good exchange rates compared to the average market rates the xe.com app gives. Which is surprising given my bank is Australian and banks there are all arseholes.

Normal charges from uk are
$35 intermediary bank fee +1% receiving fee minimum $10 or $20 depending on bank.
So send 1,000 and you will get $945
Canadia often reduces this fee so i use them most of the time. ABA is great but so successful if you often have to queue for ages.
Exchange rates on small amounts suk.
The intermediary fee does not seem to change. It is the same if you send $1000 or $20,000.
If you are European then you can save a load on the exchange rate by using a revolut card. I transfer money to that from my uk account in GBP, then do the currency change on revolut to USD because they give you the midpoint so you get 2% more dollars for your pound than a forex agent. Then i send the dollars to a usd account offshore in IOM for free and they send it to canadia bank for free or you can draw out at atm. Often much cheaper even Revolut card in atm with fees if its only a small amount because the rate is so good and no intermediary or receiving fees. Think it is $250 a month limit on cash, but i use the card for flights and hotels.

Forgot to say.lasat time i sent gbp. The exchange rate in cambodian banks is usually much better than you get from a forex broker at home, especially on small amount so let ABA do the currency swap if its small amount. Make sure you find out what intermediary bank ABA or whatever uses and instruct your forex trader or foreign bank to use that intermediary, otherwise you could wind up with 2 or more intermediary fees

as far as i can see from the few banks i have asked, cambodian banks have devised an unknown way of making huge profit from foreigners by NOT opening accounts, not cashing travellers checks and not offering any services at all. truly amazing.

but some will begrudgingly open an account for you if you can convincingly and absolutely prove you havent got any money. to do this irrevocably convincingly you need to show a cambodian work permit.

you have to prove you havent got any money so that you as a despicable foreigner cant buy any of these vast numbr of new ornamental condos that they have built for the apsaras . cant have foreigner despoiling the new ornaments now can we.