Transfer from US to Camboia

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deadbutt
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United States of America

Transfer from US to Camboia

Post by deadbutt » Wed Jan 16, 2019 2:20 pm

Ok..I did search and couldn't find an aswer.
I live in Thailand and am thinking about relocating to PP.
Right now, I have a bank in Nevada with online access. I transfer money from there to Bangkok Bank New York and it goes into my Bank here.
Is there a similar service there? And if not, what is the best way to send money every month. $3000 USD or less.
Thanks for any help.
John
explorer
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Australia

Re: Transfer from US to Camboia

Post by explorer » Wed Jan 16, 2019 2:32 pm

deadbutt wrote:
Wed Jan 16, 2019 2:20 pm
I live in Thailand and am thinking about relocating to PP.
Right now, I have a bank in Nevada with online access. I transfer money from there to Bangkok Bank New York and it goes into my Bank here.
Is there a similar service there? And if not, what is the best way to send money every month. $3000 USD or less.
Yes you can transfer money bank to bank, the same. However, the fees are quite expensive. They probably are there too. You may not be concerned.

I think it would be less expensive to withdraw cash from an ATM, keep some for spending, and deposit the rest in the local account, to be withdrawn when needed. If you used the ATM at the bank where you have an account, you dont need to go far with it.
## I thought I knew all the answers, but they changed all the questions. ##
TWY
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Macedonia

Re: Transfer from US to Camboia

Post by TWY » Fri Jan 18, 2019 1:44 am

I'll share what I do.

Once a year I transfer money to a Cambodia account. Occasionally I'll use my ATM card here in Cambodia. My credit union in the states waives a couple of ATM fees each month. I use ANZ to do withdrawals and never had a problem. A year or two ago they did lower their withdrawal limit from 500 to 400 per transaction. They charge $5 to use their ATM for cash withdrawals. So if you don't get ATM fees refunded that's more than 1% when taking 400.

I doubt that transferring money each month would be cost effective. My credit union will refund a few transfer fees a year but not each month. Plus you pay a transfer fee to the intermediary bank and a fee to the receiving bank (you'd have to inquire at the bank how much that is - i've always used JPM as the intermediary bank and they take $20 for their efforts).

I know I"ve seen Citi in Thailand but they aren't here in Cambodia and neither are any other US based banks. So one way or another you are going to have to access your funds through other banks. I've found the once a year transfer is the most cost effective way. I also be sure to use a credit card that has no international transaction fee and use that at the grocery store and restaurants that take CC.
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