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ATM USD or local currency (Cambodian Riel)
Posted: Mon Jul 08, 2019 10:03 pm
by darrenrr
Hi I am a newbie to this forum. I have travelled to Thailand extensively but they become anti tourists expat was thinking coming to cambodia. I saw a YouTube video where they said most places like stores, bars , restaurants etc
only accept USD ?
They also said to
withdraw USD from ATM rather than the local currency? Is this correct . It also said to
withdraw low denominations such as 10,20,50 noted as $100 US notes are hard to change
Any advice would be appreciated
Also
Re: ATM USD or local currency
Posted: Tue Jul 09, 2019 12:36 am
by Yerg
darrenrr wrote: ↑Mon Jul 08, 2019 10:03 pm
Hi I am a newbie to this forum. I have travelled to Thailand extensively but they become anti tourists expat was thinking coming to cambodia. I saw a YouTube video where they said most places like stores, bars , restaurants etc only accept USD ?
They also said to withdraw USD from ATM rather than the local currency ? Is this correct . It also said to withdraw low denominations such as 10,20,50 noted as $100 US notes are hard to change
Any advice would be appreciated
Also
Be wise to withdraw $ from ATM's. $100 bills are not overly difficult to change, depends where your spending them. Paying a $3 bill in a Mom & Pop store with a $100 will be a challenge, but most bars/restaurants/mainstream stores should be no issues.
USD is the generally accepted currency, but
change will often be a mix of $$ and Riel. (NB: approx 4,000 riel is $1)
Keep a few dollars worth of riels for tuktuks/PassApp/Grab rides and buying a water/soda from a store. You'll not go wrong and you'll pick up the local nuances fairly quickly. Enjoy Cambodia, I know I did.
Re: ATM USD or local currency
Posted: Tue Jul 09, 2019 12:39 am
by Yerg
Some other more seasoned posters may also help guide you around the pitfalls of fake currency, especially $100 bills. Check your bills. Also, I last visited Phnom Penh in June, and I had a couple of $5 bills rejected because they were (I think) pre AD 2000. (I'd got them from a Travelex when I changed some money on my outward journey.)
Re: ATM USD or local currency
Posted: Tue Jul 09, 2019 8:17 am
by darrenrr
Many thanks for the replies!
Is fake US dollars a real problem a lot more than Thailand ?
2. If I get my bills from a bank ATM should they be okay ?
3. Does the ATMs give you the option of smaller denominations being dispensed from the machine ?
4. If you are going to a Seven Eleven or paying for some lady company is US preferred ?
Re: ATM USD or local currency
Posted: Tue Jul 09, 2019 8:31 am
by Kammekor
darrenrr wrote: ↑Tue Jul 09, 2019 8:17 am
Many thanks for the replies!
Is fake US dollars a real problem a lot more than Thailand ?
Yes. But if you keen an eye on your money and use common sense you'll be OK.
darrenrr wrote: ↑Tue Jul 09, 2019 8:17 am
2. If I get my bills from a bank ATM should they be okay ?
Yes, but there are some urban myths about ATM's giving out 'ghost money' with the cord 'copy' printed on it.
darrenrr wrote: ↑Tue Jul 09, 2019 8:17 am
3. Does the ATMs give you the option of smaller denominations being dispensed from the machine ?
No, just withdraw a number like 280 USD and you will get some 10's and 20's too.
darrenrr wrote: ↑Tue Jul 09, 2019 8:17 am
4. If you are going to a Seven Eleven or paying for some lady company is US preferred ?
Seven eleven? What's that?
Re: ATM USD or local currency
Posted: Tue Jul 09, 2019 8:55 am
by John Bingham
darrenrr wrote: ↑Mon Jul 08, 2019 10:03 pm
They also said to withdraw USD from ATM rather than the local currency ? Is this correct .
Unless you have a local account you won't have the option of withdrawing Riel.
It also said to withdraw low denominations such as 10,20,50 noted as $100 US notes are hard to change
Any advice would be appreciated
You can't choose which notes the machine gives out unless you go for a number like $90, anyway that information is out of date - it's not at all difficult to get change.
Re: ATM USD or local currency
Posted: Tue Jul 09, 2019 8:59 am
by cautious colin
It’s pretty easy when you get here.
Everywhere will accept both (except a couple of government depts).
Don’t try to pay with too high denominations when in a small store.
When in a western oriented place most likely use dollars, in a Cambodian place, use riel if you have enough but they will also take dollar.
Check your dollars when given back in change and don’t accept any looking a bit ropey (taped back together, corner missing, tear, cut, too old), they will usually give you a new one no questions asked.
Just use some common sense and don’t be overly concerned about it and you’ll be fine.
e: ATM USD or local currency
Posted: Tue Jul 09, 2019 9:21 am
by CamExpat
Just curious and slightly off topic.... exchange rate doesnt seem to have changed much in last 5 years...
Is Riel pegged to USD? Or is the currency really that stable?
Re: e: ATM USD or local currency
Posted: Tue Jul 09, 2019 9:24 am
by Kammekor
CamExpat wrote: ↑Tue Jul 09, 2019 9:21 am
Just curious and slightly off topic.... exchange rate doesnt seem to have changed much in last 5 years...
Is Riel pegged to USD? Or is the currency really that stable?
It's pretty stable but it also accounts for just a small part of the Cambodian economy. USD is king.
Re: ATM USD or local currency
Posted: Tue Jul 09, 2019 10:01 am
by Clutch Cargo
darrenrr wrote: ↑Tue Jul 09, 2019 8:17 am
If you are paying for some lady company is US preferred ?
Unless your negotiating skills are very good, she's not going to appreciate a thick wad of riel
