ATM Fees & Obtaining a Local Bank Account

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Nobby Stiles
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ATM Fees & Obtaining a Local Bank Account

Post by Nobby Stiles » Wed Jun 20, 2018 2:45 am

Hi all

New to this community but a pleasure to be here!

I have a couple of questions regarding ATM fees and Cambodian bank accounts and apologies now if this topic and question has already been covered previously!

I hate having to pay to access my own money and if ones living in a foreign country this can be tricky! Getting a local bank account in Cambodia from what I've researched so far seems relatively easy, and if so is a great way to avoid ATM fees once you've managed to get your money in there. So is that info correct? Is it that easy? I have a Philippine bank account that was very simple to open with the correct documentation and valid visas etc. Facts and experiences in Cambodia would be greatly received.

Also when i first visited Cambodia many years ago i was told that Canadia Bank there did not charge a local fee for using their ATMs with a foreign card, is this correct and still the case????

Regards

Mr N Stiles.
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Re: ATM Fees & Obtaining a Local Bank Account

Post by Jamie_Lambo » Wed Jun 20, 2018 3:47 am

usually to open a bank you would need some proof of residency and a 6/12 month visa extension, but i think ive also heard stories of people managing to acquire them on tourist visas and without residency, but you shouldnt have a problem especially if youre planning on a move over
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Re: ATM Fees & Obtaining a Local Bank Account

Post by BklynBoy » Wed Jun 20, 2018 4:39 am

I think Jamie helped me w/ this question previously but always scared to have limited funds while money is in transit digitally. One option is to carry cash but also somewhat risky.
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Re: ATM Fees & Obtaining a Local Bank Account

Post by Pragmatist » Wed Jun 20, 2018 4:48 am

Jamie_Lambo wrote:
Wed Jun 20, 2018 3:47 am
usually to open a bank you would need some proof of residency and a 6/12 month visa extension, but i think ive also heard stories of people managing to acquire them on tourist visas and without residency, but you shouldnt have a problem especially if youre planning on a move over
I open my aba account with passport, one Edc Bill and 20 bucks ( i think the minimum is 10 ) , their mobile app is top notch imo.
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Re: ATM Fees & Obtaining a Local Bank Account

Post by Kammekor » Wed Jun 20, 2018 8:36 am

Nobby Stiles wrote:
Wed Jun 20, 2018 2:45 am
Also when i first visited Cambodia many years ago i was told that Canadia Bank there did not charge a local fee for using their ATMs with a foreign card, is this correct and still the case????
That used to be correct, in 2009, maybe 2010. Now they charge 5-10 USD if I remember correctly. After introducing that kind of fee they went of my radar.
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Re: ATM Fees & Obtaining a Local Bank Account

Post by TheSiemReaper » Wed Jun 20, 2018 9:23 am

Just opened a bank account with ABA. All you need is a minimum 6 month visa and 10$, if you don't close the account in the next 3 months you get the 10$ back. Debit card is 5$ and this is optional as you could use the app for everything. Oh yes speaking of the app you'll need to bring your phone as the app is needed to fully activate your account.
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Re: ATM Fees & Obtaining a Local Bank Account

Post by Nobby Stiles » Wed Jun 20, 2018 3:01 pm

Kammekor wrote:
Wed Jun 20, 2018 8:36 am
Nobby Stiles wrote:
Wed Jun 20, 2018 2:45 am
Also when i first visited Cambodia many years ago i was told that Canadia Bank there did not charge a local fee for using their ATMs with a foreign card, is this correct and still the case????
That used to be correct, in 2009, maybe 2010. Now they charge 5-10 USD if I remember correctly. After introducing that kind of fee they went of my radar.
May i ask your nationality please as i heard a STORY that only American ATM cards were now being charged a fee at Canadia bank ATMs but British and European cards were still fee free? Can anyone confirm this????
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Re: ATM Fees & Obtaining a Local Bank Account

Post by Kammekor » Wed Jun 20, 2018 3:05 pm

Nobby Stiles wrote:
Wed Jun 20, 2018 3:01 pm
Kammekor wrote:
Wed Jun 20, 2018 8:36 am
Nobby Stiles wrote:
Wed Jun 20, 2018 2:45 am
Also when i first visited Cambodia many years ago i was told that Canadia Bank there did not charge a local fee for using their ATMs with a foreign card, is this correct and still the case????
That used to be correct, in 2009, maybe 2010. Now they charge 5-10 USD if I remember correctly. After introducing that kind of fee they went of my radar.
May i ask your nationality please as i heard a STORY that only American ATM cards were now being charged a fee at Canadia bank ATMs but British and European cards were still fee free? Can anyone confirm this????
EU ATM card, charged. But last time was I used it was in about 2014 I guess. Maybe they made it free again..... Just maybe....
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Re: ATM Fees & Obtaining a Local Bank Account

Post by Nobby Stiles » Wed Jun 20, 2018 3:16 pm

BklynBoy wrote:
Wed Jun 20, 2018 4:39 am
I think Jamie helped me w/ this question previously but always scared to have limited funds while money is in transit digitally. One option is to carry cash but also somewhat risky.
Yes cash is definitely king! But as you've mentioned somewhat risky to stash or carry large amounts of cash around, but when i do finally arrive there i will have some cash (declared £) with me that i would be looking to change up and get into a bank account asap.

In the meantime i will have it safely (hopefully) plotted up in a Pax safe in the Guesthouse safe, this family guesthouse has been my home in PP on all my recent visits and was a recommendation from a longtime personal friend of the family, so I'm fairly confidant it'll be safe.

This leads me on to my next question, where is a money changers in PP that i can change my £ Sterling into US $ at a decent rate, preferably better than that i can get here in the Uk?

Regards

Mr N Stiles
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Kammekor
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Re: ATM Fees & Obtaining a Local Bank Account

Post by Kammekor » Wed Jun 20, 2018 3:24 pm

Nobby Stiles wrote:
Wed Jun 20, 2018 3:16 pm
BklynBoy wrote:
Wed Jun 20, 2018 4:39 am
I think Jamie helped me w/ this question previously but always scared to have limited funds while money is in transit digitally. One option is to carry cash but also somewhat risky.
Yes cash is definitely king! But as you've mentioned somewhat risky to stash or carry large amounts of cash around, but when i do finally arrive there i will have some cash (declared £) with me that i would be looking to change up and get into a bank account asap.

In the meantime i will have it safely (hopefully) plotted up in a Pax safe in the Guesthouse safe, this family guesthouse has been my home in PP on all my recent visits and was a recommendation from a longtime personal friend of the family, so I'm fairly confidant it'll be safe.

This leads me on to my next question, where is a money changers in PP that i can change my £ Sterling into US $ at a decent rate, preferably better than that i can get here in the Uk?

Regards

Mr N Stiles
Around the Central Market (Psar Thmey) you will the places with the best rates. Check the bills they give you thoroughly though, if you receive damaged bills those will be denied by the bank and most sellers. You might also consider transferring Pounds from your UK account into your new Cambodian account.
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