Cambodia Expats Online: Forum | News | Information | Blog

Do you trust Cambodian banks enough to keep thousands in them, or do yountransfer in every month?

Is it case of only keep in bank what you're prepared to lose?

Basically if you have thousands in bank will little fairies make it disappear.

Why not? I trust them. I have many accounts but never keep money in bank.

Sent from my MI 5 using Tapatalk

Yes. As much as you can trust banks of course.

I'm with Cambodian Public Bank, which despite it's name is actually Malaysian. I've got an EU based account too. I don't see what the issue is with trusting Cambodian banks, when was the last time one folded and lost anyone's funds?

Cambodian Publik Bank and Canadia Bank (nothing to do with Canada) have good service. Transfers in and out run swiftly and ATM s are most everywhere. Even withdrew at the ATM in Malaysia.

OKW wrote:Cambodian Publik Bank and Canadia Bank (nothing to do with Canada) have good service. Transfers in and out run swiftly and ATM s are most everywhere. Even withdrew at the ATM in Malaysia.

Yes, it does. The first shareholders were Khmer-Canadians who started the original Cambodia bank along with other Cambodians.

https://www.canadiabank.com.kh/en/about_canadia.aspx

Cambodian living in Canada for a long time, started the bank with other Khmers and no more it has to do with Canada. There are no ties to any bank in Canada is what I tried to point out.

ExPenhMan wrote:

OKW wrote:Cambodian Publik Bank and Canadia Bank (nothing to do with Canada) have good service. Transfers in and out run swiftly and ATM s are most everywhere. Even withdrew at the ATM in Malaysia.

Yes, it does. The first shareholders were Khmer-Canadians who started the original Cambodia bank along with other Cambodians.

https://www.canadiabank.com.kh/en/about_canadia.aspx

OKW wrote:Cambodian living in Canada for a long time, started the bank with other Khmers and no more it has to do with Canada. There are no ties to any bank in Canada is what I tried to point out.

ExPenhMan wrote:

OKW wrote:Cambodian Publik Bank and Canadia Bank (nothing to do with Canada) have good service. Transfers in and out run swiftly and ATM s are most everywhere. Even withdrew at the ATM in Malaysia.

Yes, it does. The first shareholders were Khmer-Canadians who started the original Cambodia bank along with other Cambodians.

https://www.canadiabank.com.kh/en/about_canadia.aspx

The only bank with Canadian ties is ABA Bank, now 90% owned by the National Bank of Canada (after an initial 40% inv. in late 2014 iirc). I believe it's the only bank with a large non Asian shareholder. I draw dividends from them so it pays back the tax paid on my ABA deposits in a convoluted way.

OKW wrote:Cambodian Publik Bank and Canadia Bank (nothing to do with Canada) have good service. Transfers in and out run swiftly and ATM s are most everywhere. Even withdrew at the ATM in Malaysia.

I've had (probably still "have") both of those banks, and no major complaints.

I personally don't trust them nearly as much as I trust my US banks though.

I also don't think their policies are as good either. I'm protected against unauthorized withdrawals in the US and it's (mostly) FDIC insured, and I doubt banks in Cambodia are anywhere near that safe.

Hell, if someone can half-ass your signature and gets a hold of your "bank book" your money is probable as good as gone.

No way in hell I'd want ALL my money in a Cambodian bank, while I'd have no issues at all dumping it in any random US bank.

In a country rife with land grabbing and corruption, I don't know why anyone would consider it a safe place to keep large amounts of funds, other than, "well, it's been a long time since anything bad has happened."

Has that much changed in 1 year, 2 months, 2 weeks and 3 days since this article?

http://phnompenhpost.com/business/bank- ... l-security

"insurance scheme, which means if a bank has a run on deposits or goes belly up, its customers could lose all their savings.

Stephen Higgins, managing partner of Mekong Strategic Partners, says it is time the Kingdom joins the 122 countries that have instituted a mechanism to protect the deposits of bank customers from loss in the event of a bank’s insolvency."

General Mackevili wrote:

OKW wrote:Cambodian Publik Bank and Canadia Bank (nothing to do with Canada) have good service. Transfers in and out run swiftly and ATM s are most everywhere. Even withdrew at the ATM in Malaysia.

I've had (probably still "have") both of those banks, and no major complaints.

I personally don't trust them nearly as much as I trust my US banks though.

I also don't think their policies are as good either. I'm protected against unauthorized withdrawals in the US and it's (mostly) FDIC insured, and I doubt banks in Cambodia are anywhere near that safe.

Hell, if someone can half-ass your signature and gets a hold of your "bank book" your money is probable as good as gone.

No way in hell I'd want ALL my money in a Cambodian bank, while I'd have no issues at all dumping it in any random US bank.

In a country rife with land grabbing and corruption, I don't know why anyone would consider it a safe place to keep large amounts of funds, other than, "well, it's been a long time since anything bad has happened."

Has that much changed in 1 year, 2 months, 2 weeks and 3 days since this article?

http://phnompenhpost.com/business/bank- ... l-security

"insurance scheme, which means if a bank has a run on deposits or goes belly up, its customers could lose all their savings.

Stephen Higgins, managing partner of Mekong Strategic Partners, says it is time the Kingdom joins the 122 countries that have instituted a mechanism to protect the deposits of bank customers from loss in the event of a bank’s insolvency."

This is the way I think.

Maybe worth the extra in withdrawal fees to stay on the safe side.

I'm probably just imagining things though.