Bank Account for Remote Worker

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JSON
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Bank Account for Remote Worker

Post by JSON » Sat Aug 18, 2018 6:44 pm

Hi,

I am South African but work remotely for an Aussie company.

I have been traveling South East Asia for over 2 years and am looking at opening a bank account in Cambo.

I currently receive monthly payments in AUD but these end up in my SA bank account in ZAR.

This is my primary account used on my travels (bit of an F-up as ZAR is so volatile).

My employers can pay into any bank account I request, and, Cambodia seems ideal because;
- I can get a USD account and store my wealth in USD
- The requirements to open a savings account at some of the banks are minimal and I can do this on a short stay

Firstly, are my points above correct?
Second, how will a Cambodian account fare internationally? I spend most of my time in South East Asia these days. So I will need to swipe and withdraw in a variety of countries. I will also need to be able to use the related credit/debit card for online purchases.

Any advice would be much appreciated!

PS. Currently considering Canadia and ABA savings accounts as they seem easy to open. However, CIMB Bank offers a Foreign Currency Current account. This seams ideal as money can be stored in multiple currencies including AUD (I get paid in this) and THB (I spend a lot of time in Thailand). The snag here is that this account requires a work permit (which I am never going to get for Cambodia). Any advice on this account or a similar one would also be appreciated.
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that genius
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Re: Bank Account for Remote Worker

Post by that genius » Sat Aug 18, 2018 7:17 pm

Check your private messages (top right hand corner, envelope icon)

ABA is pretty good, Cambodia Public Bank is OK too
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PSD-Kiwi
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Re: Bank Account for Remote Worker

Post by PSD-Kiwi » Sat Aug 18, 2018 7:21 pm

ABA...get their Visa Debit Card, works worldwide and for online purchases. Internet banking and mobile app are great, especially handy when you're out of the country a lot.
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Re: Bank Account for Remote Worker

Post by Duncan » Sat Aug 18, 2018 7:23 pm

Why not keep it in Australian bank until the OZ goes up or the USA Dollar goes down. Terrible exchange rate at this moment.
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.
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Re: Bank Account for Remote Worker

Post by JSON » Sat Aug 18, 2018 8:04 pm

Duncan wrote:
Sat Aug 18, 2018 7:23 pm
Why not keep it in Australian bank until the OZ goes up or the USA Dollar goes down. Terrible exchange rate at this moment.
Would love to but I am only employed by the Aussies as an independent contractor. I have no recourse to open a bank in Oz and the requirements are way more stringent.
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Re: Bank Account for Remote Worker

Post by JSON » Sat Aug 18, 2018 8:05 pm

that genius wrote:
Sat Aug 18, 2018 7:17 pm
Check your private messages (top right hand corner, envelope icon)

ABA is pretty good, Cambodia Public Bank is OK too
Thanks for the info!
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Re: Bank Account for Remote Worker

Post by JSON » Sat Aug 18, 2018 8:07 pm

PSD-Kiwi wrote:
Sat Aug 18, 2018 7:21 pm
ABA...get their Visa Debit Card, works worldwide and for online purchases. Internet banking and mobile app are great, especially handy when you're out of the country a lot.
Thanks for the info.
Am I right in that the account would be USD based?
Any advice on withdrawing in other countries? Eg. ATM fees when withdrawing THB in Bangkok?
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PSD-Kiwi
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Re: Bank Account for Remote Worker

Post by PSD-Kiwi » Sat Aug 18, 2018 8:12 pm

JSON
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Re: Bank Account for Remote Worker

Post by JSON » Sat Aug 18, 2018 8:35 pm

I am still a little bit confused on the link between Accounts and Cards as they are listed separately on the ABA site?

Would the idea be to get a savings account https://www.ababank.com/en/savings-account/

And then link it to a Visa or Mastercard https://www.ababank.com/en/debit-cards/

So your total flat monthly fees would be your account fee (free for savings account) and then your card fee (eg. $20 annually for platinum mastercard).

Thanks!
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Re: Bank Account for Remote Worker

Post by PSD-Kiwi » Sat Aug 18, 2018 9:43 pm

Go to the ABA website and use their online chat support...they will answer any questions you have.
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