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Money Transfer Question

Posted: Sun Feb 10, 2019 9:46 am
by LIVIDZX
Hi, I'm from the UK and have a UK bank account (HSBC) - here in Cambodia I no longer have a account as ABA banned me for life for using "bitcoin" as a reference to send money to a friend I kid you not...no warnings whatsoever. (he was also banned for life).

But anyway I am looking for the easiest/cheapest way to get actual physical cash that I have on me here, into my UK account as I have various bills I have to pay from that account. Does anyone have any idea how to get it into my account? AFAIK Western Union doesn't have an option to do so, only person to person transfers and taking money FROM an account to send to someone, not too a bank account. MoneyGram I assume is similar. There must be a way surely?

Thanks in advance.

Re: Money Transfer Question

Posted: Sun Feb 10, 2019 10:00 am
by bittermelon
I guess I'm "outing" myself for eavesdropping here but last year I was in a bar where I overheard a deal going on for transfering money using the "hawala" method. From what I heard the commission was way less than what W.U or even a bank would charge. I'd be nervous, but if you could find a Muslim with a good reputation who you could trust maybe?

Re: Money Transfer Question

Posted: Sun Feb 10, 2019 11:54 am
by Doc67
Why not open an account with another bank? Then do an international payment back to HSBC.

Alternatively, ask in a branch at any bank if you can just send a 'swift' payment to your HSBC account in USD without actually holding an account there. If you can then your HSBC bank will do the FX conversion in the UK from US$ to £.

Just a quick heads-up... I am not sure about HSBC, but I do know a third party cannot pay cash into an account held at Barclays. It may well be the same with HSBC, it might be a regulatory requirement. I mention this in case you send a cash to cash transfer, such as western union, to a friend in the UK and get them to pay in to your HSBC account. You might find they cannot.

Post your solution if you find one, it would be of interest to me how you fix this...

Re: Money Transfer Question

Posted: Sun Feb 10, 2019 1:23 pm
by fax
LIVIDZX wrote:
Sun Feb 10, 2019 9:46 am
ABA banned me for life for using "bitcoin" as a reference to send money to a friend I kid you not...no warnings whatsoever. (he was also banned for life).
It is national bank directive. It's written in the terms of agreement. Up until recently there were popups with warnings on the ABA website.

Re: Money Transfer Question

Posted: Sun Feb 10, 2019 1:28 pm
by fax
Spigzy wrote:
Tue Oct 30, 2018 10:49 am
It isn't just ABA or Bitcoin, all banks (including Wing as a specialised bank), MFIs and PSPs (TrueMoney, SmartLuy, etc.) are on alert to prevent ANY type of cryptocurrency transactions as per a circular issued by the National Bank of Cambodia back in December last year:

National Bank of Cambodia Bans Bitcoin
http://en.freshnewsasia.com/index.php/e ... inted.html

Re: Money Transfer Question

Posted: Sun Feb 10, 2019 3:45 pm
by phuketrichard
bittermelon wrote:
Sun Feb 10, 2019 10:00 am
I guess I'm "outing" myself for eavesdropping here but last year I was in a bar where I overheard a deal going on for transfering money using the "hawala" method. From what I heard the commission was way less than what W.U or even a bank would charge. I'd be nervous, but if you could find a Muslim with a good reputation who you could trust maybe?
Hawala method has zero to do with being moslem, its a method to transfer money that has been around for centuries
I'd ask around indian restaurants and its 100% trustworthy

Re: Money Transfer Question

Posted: Sun Feb 10, 2019 5:51 pm
by LIVIDZX
fax wrote:
Sun Feb 10, 2019 1:23 pm
LIVIDZX wrote:
Sun Feb 10, 2019 9:46 am
ABA banned me for life for using "bitcoin" as a reference to send money to a friend I kid you not...no warnings whatsoever. (he was also banned for life).
It is national bank directive. It's written in the terms of agreement. Up until recently there were popups with warnings on the ABA website.
Given my friend was also banned for life without given the chance to provide an explanation whats to stop someone sending 0.01$ to someone they don't like with the reference of Bitcoin Payment - Providing they can get their acc number obv and getting their account closed permanently?

In the email I got they kept referring to it as "The Bitcoin" which tells me they know absolutely nothing about it and should probably do a bit of research before handing out bans. It doesn't seem professional at all, I guess they feel threatened by crypto as all banks should be.

Anyway thanks for the suggestions on the money transfer guys and anymore are welcome.

Re: Money Transfer Question

Posted: Sun Feb 10, 2019 7:26 pm
by DrRawBlueGreen
phuketrichard wrote:
Sun Feb 10, 2019 3:45 pm
bittermelon wrote:
Sun Feb 10, 2019 10:00 am
I guess I'm "outing" myself for eavesdropping here but last year I was in a bar where I overheard a deal going on for transfering money using the "hawala" method. From what I heard the commission was way less than what W.U or even a bank would charge. I'd be nervous, but if you could find a Muslim with a good reputation who you could trust maybe?
Hawala method has zero to do with being moslem, its a method to transfer money that has been around for centuries
I'd ask around indian restaurants and its 100% trustworthy
Not sure if you are right. Hawala is an Arabic word for send or transfer. Doesn’t mean that only Arabs use this method for money transfer, though it’s widespread in Arabic countries.

Re: Money Transfer Question

Posted: Sun Feb 10, 2019 8:33 pm
by phuketrichard
DrRawBlueGreen wrote:
Sun Feb 10, 2019 7:26 pm
phuketrichard wrote:
Sun Feb 10, 2019 3:45 pm
bittermelon wrote:
Sun Feb 10, 2019 10:00 am
I guess I'm "outing" myself for eavesdropping here but last year I was in a bar where I overheard a deal going on for transfering money using the "hawala" method. From what I heard the commission was way less than what W.U or even a bank would charge. I'd be nervous, but if you could find a Muslim with a good reputation who you could trust maybe?
Hawala method has zero to do with being moslem, its a method to transfer money that has been around for centuries
I'd ask around indian restaurants and its 100% trustworthy
Not sure if you are right. Hawala is an Arabic word for send or transfer. Doesn’t mean that only Arabs use this method for money transfer, though it’s widespread in Arabic countries.
I was moving money this way back in the late 80's

Re: Money Transfer Question

Posted: Sun Feb 10, 2019 9:23 pm
by Spigzy
To be fair to ABA, the cryptocurrency thing is nothing to do with perceiving it as a threat (laughable), and everything to do with the National Bank of Cambodia prakas issued to all financial institutions that any facilitation of cryptocurrency transactions would result in punishment that I believe also extended as far as revocation of banking license. If you’re a bank, you’re simply not going to take that risk. It’s actually the central bank that is completely out of touch with crypto currencies.