Bank fees. Is ABA taking the piss or are they all?
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- Expatriate
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Re: Bank fees. Is ABA taking the piss or are they all?
No surprise that a Canadian bank has a stake in it. They have been doing the same thing in Canada for years! I will not complain too much though. I never use ABA in Cambodia and I have shares in National Bank that have more than tripled in 10 years! As of several months ago they were actually more like 4 times but bank stocks have tanked recently.
Re: Bank fees. Is ABA taking the piss or are they all?
The Canadian big 6 banks are known for their crappy high fees. No surprise that ABA is following suit. However, they have been fabulous investments over the years as has been previously mentioned in this topic. They are all well run and have dividend yields north of 4%, with a couple north of 5%. Owning a basket of them either individually or in a fund has been a no-brainer. Any big market pull back historically has been a great buying opportunity.
Re: Bank fees. Is ABA taking the piss or are they all?
Just for local use they have been perfect for me. It just makes a lot of things easier to do and in doing so helps the economy as a whole.
Re: Bank fees. Is ABA taking the piss or are they all?
I don't understand the problem too much here. If you're using a foreign card then you're presumably just passing through, even if a regular visitor - and you're splitting hairs over dinner money, or a couple of beers? Are these the same folks seen haggling with destitute tuk-tuk drivers over 2000 KHR and then blowing $100 in a bar they're dropped off at?
And even if you're not a cheap Charlie, do you really care about the $4 difference in fees when ABA is everywhere, and all the other banks are still stuck somewhere in 2010? I'd say ABA deserve the fee, call me the odd ball.
I'm sure I'll take a couple of hits on this post, but that's okay - will sit & wait for the laughable "use Crypto!!" brigade to turn up!
And even if you're not a cheap Charlie, do you really care about the $4 difference in fees when ABA is everywhere, and all the other banks are still stuck somewhere in 2010? I'd say ABA deserve the fee, call me the odd ball.
I'm sure I'll take a couple of hits on this post, but that's okay - will sit & wait for the laughable "use Crypto!!" brigade to turn up!
Meum est propositum in taberna mori,
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
Re: Bank fees. Is ABA taking the piss or are they all?
The Bred Bank ATMs discussed as an alternative are just as good and modern as ABA's (so I don't get your "stuck in 2010" remark), and I currently have 3 of them within easy walking distance. So, no, I won't pay a higher fee to ABA for a smaller amount that I can withdraw.
Since you've mentioned haggling with tuk-tuk drivers, maybe it's you who's stuck in 2010? I haven't done that for years; Grab has completely eliminated that for me.
Re: Bank fees. Is ABA taking the piss or are they all?
Perhaps out of touch since I've had a car/motorbike since 2007 & no need for tuk-tuks or Grab - but you know the type I mean, they still exist. Likewise if your bank ATM is close enough and cheaper that's cool, but again there are some who will travel out of their way, paying a tuk-tuk $4 to save $4 on a bank fee, seems odd to me to have such a hang up; I know folks really hate bank fees, but sometimes just use the ATM nearest & if it is cheaper, that's a bonus?
Meum est propositum in taberna mori,
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
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- Tourist
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Re: Bank fees. Is ABA taking the piss or are they all?
Isn't it a good thing to pay $4 to Bred plus the other $4 to a local driver rather than all $8 to ABA?
I know some people don't have time but I don't mind going a bit out of my way if it benefits a local guy rather than an multinational bank.
Even if one isn't bothered about supporting locals, at least avoiding expensive companies like ABA helps discourage rising fees.
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- Expatriate
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Re: Bank fees. Is ABA taking the piss or are they all?
If you are not on holidays and live here, ABA is the way to go. If you are here on holiday and worrying about $4 then, well....maybe international holidays aren't for you. Wandering around town looking for a Bred bank ATM and bypassing 10 ABA machines on the way to save $4, seems like a sad way to spend limited time in a country on holiday.kampuchea9999 wrote: ↑Wed Jul 27, 2022 9:56 amIsn't it a good thing to pay $4 to Bred plus the other $4 to a local driver rather than all $8 to ABA?
I know some people don't have time but I don't mind going a bit out of my way if it benefits a local guy rather than an multinational bank.
Even if one isn't bothered about supporting locals, at least avoiding expensive companies like ABA helps discourage rising fees.
You know that tingly little feeling you get when you really like someone? That's common sense leaving your body.
Re: Bank fees. Is ABA taking the piss or are they all?
I have several bank accounts here at different banks, and I really like being back in the 80s, sometimes in one of them, with a normal passbook and everything. But with ABA it's very efficient, and it seems almost everyone uses it, so you can do just about anything from this app, which also seems to work really well. Having a card with your local address also makes it easier to order online from places like Aliexpress. There are no huge fees that I noticed, I think they charge 1000 riels for the card transaction to the seller. But not when using the app itself. And the exchange rate for riel withdrawals is just a bit higher than the daily rate. And the ATM delivers those crisp brand new 50,000 notes to my personal joy. So yeah, anyway, I haven't had any major issues other than not accepting Wise transfers from the US anymore.
Re: Bank fees. Is ABA taking the piss or are they all?
This is really going to screw up my next holiday in Cambodia. I'll be taking taxis all over town trying to find the best ATMs and may not have time to partake in any other activities. Perhaps if I eliminate some meals and drinking with friends and family I'll be able to manage.
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