NO BUSINESS SALES HERE PLEASE, WE HAVE A SECTION FOR THAT IN THE CLASSIFIEDS.
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.
ABA is pretty good, Cambodia Public Bank is OK too
- Sir Duncan
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Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
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.
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?
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).
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