Josh, would you like to swap problems?
I'll solve this one for you and you can sort mine out lol.

johnny lightning wrote: ↑Wed Sep 07, 2022 6:52 am I have a credit/debit card with Canadia and have no term or fixed deposit account with them, only a simple savings account that currently has around 1300 bucks in it but has been as low as 30. Not had a problem to date but I am a long term (15 years) customer so maybe they just ignore me.

Credit Cards and Debit Cards are two completely different things.

Yes, debit cards (visa, mastercard) are easy to get here on U.S. dollar accounts, even if you only deposit 1000 or so ... Credit cards probably have strict requirements.

Negotiating terms rates is not done simply because that's not fair to other customers, so how can the bank justify it? Sometimes banks offer preferred rates on their corporate "birthday", like Canadia.

Recently, a couple of major banks introduced new term deposits at 8%, like ABA, and Korea's Woori bank. Up to now, it's the local MFIs that have cornered this limited market for term deposits.

I can sort of understand the fear that we foreigners will do a runner but to demand / hold a security of almost 200 times the card limit as ransom,

So, 200 x $2000 card limit = $400,000 on deposit. Interest on that is about $2300 A MONTH after tax. Why do you have a credit card? What's the point of it?

Do yourself a favour and spread it around. One bank might fail but an entire system failure is much more unlikely. Holding KHR also puts you at FX risk if the 4050/1 KHR/USD fantasy peg breaks. You could end up with a 30% haircut.

I know you are getting about 2%+ extra for a KHR deposit, but Prasac pays 7% on USD and they are not exposed to large commercial real estate lending, which can seriously fuck a bank up.

Having said that USD deposits could also be converted to KHR in times of crisis. Think Argentina mi gringo amigo.

I'm not sure I see the issue here.

Your communicating with someone for whom English isn't their first language.

No bank is going to offer you a higher rate on a fixed term deposit unless your generating a TON of other income for them. The publish the rate - you take it or leave it.

As for the credit card. It is standard practice here to require a deposit with the bank to have the card.

Communication at ACLEDA is often a bit of a challenge for me at the bank. But its easily solved by either asking for a manager to explain further or bringing my wife along with me (which is the best option as that way you know you aren't being told "yes" or "understood" just because the person is too nervous to say they aren't sure what your requesting).

We've banked with them for a long time and only had one serious issue. And ACLEDA fixed it. That said I wouldn't recommend anyone keep a substantial amount of money in the bank.

I'd far rather deal with ACLEDA than any of these MFI's.

truffledog wrote: ↑Wed Sep 07, 2022 1:03 am so whats your problem apart from beeing happy to be in KOW?

To keep the card until its expiration date but to be able to freely chose where to park the deposit, of course.

They make money from me using the card. This is a 'cut off your nose to spite your face' move.
Are they really this good at playing high stakes poker? I doubt it. The pushiness of it all "what are you gonna do?" after I have been communicating about what I would like and them saying "no" is quite off putting.

But of course, first world problems, no doubt.

Lonestar wrote: ↑Wed Sep 07, 2022 3:44 am It seems more difficult to negotiate a better rate on fixed term deposits than it used to be. I was making one a couple of years ago and more or less got told "take it or leave it".

Agreed. These days you get offered 0.1 % over the published, it seems. It pays to take advantage of the promotions, such as the one LOLC still runs until the end of this month.
But if you're not flush then, what are you gonna do?

PSD-Kiwi wrote: ↑Wed Sep 07, 2022 6:13 am Credit Cards in Cambodia are tied to a term or fixed deposit account, the customer needs to maintain at least 80% (may differ from bank to bank) of the Credit Cards limit in that account for the Credit Card to remain active, hence they're not really Credit Cards like in "Western" countries, they're basically just Debit Cards really.

Diclaimer: I'm definitely not a banking expert, so don't quote me.

And I would be happy with that by making a term deposit over the full card limit - but they never suggested that.

CaptainCanuck wrote: ↑Wed Sep 07, 2022 7:17 am I'm not sure I see the conundrum ... Your present bank has a track record of unsatisfactory service and now won't give you terms you feel are fair .... Simply take your money down the street and give another bank an opportunity to satisfy you .... You already have one cc at a bank your happy with, why fret over Alcleda cc ?

No, you misunderstood. The cc is from Acleda.

rozzieoz wrote: ↑Wed Sep 07, 2022 7:36 am Josh, would you like to swap problems?
I'll solve this one for you and you can sort mine out lol.

Grew up in a broken home raised by a single parent with little money, getting really good at talking myself out of buying stuff. Never owned a car in my life, f.e.
Was completely broke as late as 2005. Been there, done that & paid my dues. So, no thank you