$120 to wire $700 out of Cambodia?

Nixon · Post by **Nixon** » Fri Jul 19, 2019 9:06 pm

Quick question

I wired $700 to my personal account back home and ended up paying $120 in different fees.

It is ridiculous. So the question is as follows..

What is the easiest and cheapest way to wire money OUT of Cambodia?

Thanks in advance

Terry Fishsauce · Post by **Terry Fishsauce** » Fri Jul 19, 2019 11:16 pm

Find someone who want's to make the opposite transaction.

John Bingham · Post by **John Bingham** » Fri Jul 19, 2019 11:23 pm

I've had the same problems, sending money by that telegraphic transfer or whatever the fuck they call that dinosaur shit is a total rip-off. I've paid $125 to wire €30 before, but there wasn't any other way to do it so I just sucked it up.

Yerg · Post by **Yerg** » Sat Jul 20, 2019 1:21 am

If I may, and for fear of being ridiculed. It depends what you are sending and where. Assuming the $ sign is money from CAM to USA? I use Moneygram to send money from various countries to either UK or Cambodia. Exchange rate is pegged to the US$, and I never pay more than $5 for a transaction. As long as the money is being sent to a proper bank account, and not a person to be cashed

I have never had an issue. (I have an ABA bank account and send money there. Whether I send $50 or $5000 makes no odds. I pay $5 charge.)

jrjrjr · Post by **jrjrjr** » Sat Jul 20, 2019 1:48 am

Transferwise ?

Nixon · Post by **Nixon** » Sat Jul 20, 2019 9:21 am

Yerg wrote: ↑Sat Jul 20, 2019 1:21 am If I may, and for fear of being ridiculed. It depends what you are sending and where. Assuming the $ sign is money from CAM to USA? I use Moneygram to send money from various countries to either UK or Cambodia. Exchange rate is pegged to the US$, and I never pay more than $5 for a transaction. As long as the money is being sent to a proper bank account, and not a person to be cashed I have never had an issue. (I have an ABA bank account and send money there. Whether I send $50 or $5000 makes no odds. I pay $5 charge.)

So,I would need an account at ABA and they could then provide that service?

Nixon · Post by **Nixon** » Sat Jul 20, 2019 9:26 am

John Bingham wrote: ↑Fri Jul 19, 2019 11:23 pm but there wasn't any other way to do it so I just sucked it up.

Same as me

angkorjohn2 · Post by **angkorjohn2** » Sat Jul 20, 2019 9:45 am

Yerg wrote: ↑Sat Jul 20, 2019 1:21 am If I may, and for fear of being ridiculed. It depends what you are sending and where. Assuming the $ sign is money from CAM to USA? I use Moneygram to send money from various countries to either UK or Cambodia. Exchange rate is pegged to the US$, and I never pay more than $5 for a transaction. As long as the money is being sent to a proper bank account, and not a person to be cashed I have never had an issue. (I have an ABA bank account and send money there. Whether I send $50 or $5000 makes no odds. I pay $5 charge.)

transfer is dependent on the intermediary branch. Many banks use these when money comes and goes to ususally a bank in Hong Kong or Singapore like Standard Chartered they take the big slice even if your Cambodian Bank says it charges $5 and the bank you send to takes $5 the middle bank can take $60-$100. These are the most recommended by regular transferrers in Cambodia:

https://transferwise.com/?fbclid=IwAR3i ... kvIum8FO4w
https://www.xendpay.com/?fbclid=IwAR2_d ... PcgK9JVmoQ
https://www.riamoneytransfer.com/us/en

CamExpat · Post by **CamExpat** » Sat Jul 20, 2019 11:27 am

Its the way the correspondent banking network works. Each bank in the chain takes a cut and it adds up. Cambodia being high risk, so not many banks will partner with the banks here. This makes it expensive and transfers from Cambodia likely go through 1 or 2 more hops then banks in other countries.

Up until recently, there was no way to know what the fees were in advance. But the Cambodoan banks likely don't have abiity to calculate that yet.

You might try payoneer as well. I have received money with them but not sent. Sender is paying $20 at the moment. (Not as good as transferwise)

phuketrichard · Post by **phuketrichard** » Sat Jul 20, 2019 12:44 pm

i know there fees are higher than banks in thailand but maybe lower in Cambodia
https://locations.westernunion.com/sear ... phnom+penh

$120 to wire $700 out of Cambodia?

$120 to wire $700 out of Cambodia?

Re: $120 to wire $700

Re: $120 to wire $700

Re: $120 to wire $700

Re: $120 to wire $700

Re: $120 to wire $700

Re: $120 to wire $700

Re: $120 to wire $700

Re: $120 to wire $700 out of Cambodia?

Re: $120 to wire $700 out of Cambodia?

Who is online

Register/Login to CEO with your Social Media Account: