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Bank account in Cambodia


george

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How easy is it to open a bank account with ATM or Debit card in Cambodia as a non resident?

Any bank that you would recommend? Do they offer internet banking for foreigners?

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Could be a bad time to open a Cambo account. Sounds like people are making bank runs.

Withdrawals top hundreds of millions

http://www.phnompenhpost.com/business/withdrawals-top-hundreds-millions

Acleda sees record decline, political standoff unnerving many customers who fear their savings are not secure in the bank

http://www.phnompenhpost.com/business/acleda-sees-record-decline

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According to the article, a mini bank run is common during election time. But they recover shortly thereafter.

Weird, but apparently business as usual?

"Second best time to plant a tree is today" sent from note2 TV app

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Could be a bad time to open a Cambo account. Sounds like people are making bank runs.

Withdrawals top hundreds of millions

http://www.phnompenhpost.com/business/withdrawals-top-hundreds-millions

Acleda sees record decline, political standoff unnerving many customers who fear their savings are not secure in the bank

http://www.phnompenhpost.com/business/acleda-sees-record-decline

.

Debbie?

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Acleda has the widest presence in the provinces, often the only ATM there so if you will be upcountry a lot, a good choice. I don't know about internet banking with them. My accounts are at FTB and ANZ.

The Foreign Trade Bank (national bank) is quite easy to open an account at (or at least was back when I did it, and last I heard -- all I needed was my passport) , has online banking and a fair number of ATM locations in PP.

ANZ is difficult, they ask for lease, proof of employment etc.

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Canadia is. Easy too , only passport visa ( ordinary ) and asked for an address ! Got a. Debit card with picture of me on it ( bring one passport type photo with you . smile .... In like flint. Sonrya mall credit card also available when yiu place 1 , 2ooo.us in secured deposit acct ... There is online banking , but for some reason i did not get into it at this point.... Time for happy hour .. Abc stout beer in can 1.25 us is excellent if u like dark beer .... I mix it sometimes with ankhor beer and its like an amber beer tasty and reduces price ! Lol just a little ...bank on the side conversation...

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Canadia is. Easy too , only passport visa ( ordinary ) and asked for an address ! Got a. Debit card with picture of me on it ( bring one passport type photo with you . smile .... In like flint. Sonrya mall credit card also available when yiu place 1 , 2ooo.us in secured deposit acct ... There is online banking , but for some reason i did not get into it at this point.... Time for happy hour .. Abc stout beer in can 1.25 us is excellent if u like dark beer .... I mix it sometimes with ankhor beer and its like an amber beer tasty and reduces price ! Lol just a little ...bank on the side conversation...

Can you clarify this please, is it 12,000?

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Up to date info for the 3 following banks;

Canadia Bank

- Passport with Ordinary visa with at least 6mths validity required to open account

- Local ph number or proof of local address required to open account

- They do NOT issue a debit card, only standard ATM card

- Credit card can be issued, but you must put money into the account and you can only spend up to 80% of your account balance (it works more or less like a debit card, but is called a credit card)

- Internet banking available

ACLEDA Bank

- Passport with Ordinary visa with at least 6mths validity required to open account

- Proof of local employment letter or Business license required open account

- Proof of local address required to open account

- Visa Debit card issued

- Internet banking not available

ANZ Royal Bank

- Passport with Ordinary visa with at least 6mths validity required to open account

- Proof of local employment letter or Business license required open account

- Proof of local address required to open account

- Min $USD500 opening balance required. Must maintain min balance of $USD500 to avoid fees

- They do NOT issue a Visa/Mastercard debit card, only standard ATM card or ANZ Debit card (cannot be used internationally or for internet purchases, etc.)

- Internet banking available

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But you can get a Visa/Mastercard from Canadia.

$13 a year for 'classic' card.

You need to block a certain amount in a fixed deposit account for a year (4.75% interest, not bad). 80% of that you can spent monthly with your credit card.

You need to bring passport with visa (they say valid for six months but they didn't make a problem out of the fact mine was only 5 and will expire in 2 months) and only one photograph.

the official requirements are here:

http://www.canadiabank.com.kh/card_center.aspx

but it seems they don t follow..............There is also ABA bank too ,however i dont have info at the Moment. Uptheos this should answer your clarification ? Also above post

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  • 1 month later...

I have dealt with Canadia and ANZ. It is Cambodian law that you provide a lease, in addition to the visa requirement. ANZ was a giant pain in the ...

I gave Canadia a stack of rent receipts and they gave a wink and a nod. I haven't lived in a place in Siem Reap yet that gave a lease. If you open an account in one city and want to do a transaction in another, they charge $2......

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  • 5 weeks later...

Aba bank offers internet banking plus credit and debit cards, easy to open account, passport reqd, some account conditions apply but interest is 5%+for 1 year fixed.

Phnom Penh commercial bank is very easy, passport only no address reqd, debit card only, free inward transfer and can draw out any branch free interest 6.2% for 1 year deposit.

There are several microfinance institutions which offer great deals, 7.75%for 1 year and can draw anywhere in can have debit /ATM card only and no internet access. These institutions are growing fast and will apply for bank status soon. Of course risk is higher but supposedly are backed by national bank of Cambodia as are all here.

There are tax differences also , pm me for more information.

TD

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  • 4 weeks later...

Reminded me that I opened a $ savings account with CAMPU bank when it first started up about 20 years ago but need a revisit sometime to check on status.

There was no atms/internet at that time so things obviously got better...

Assume its still there?

Dosnt time fly......

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  • 8 months later...
  • 2 weeks later...

I have an account in US Dollar since 4 years with Canadia Bank , they give 4,75% p/a. Never had any problems with withdrawals -/ATM-use etc.etc.

Only thing you need is a passport.

I guess you have to pay taxes on interest received

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  • 1 month later...

Just open one at Phnom Penh Commercial Bank last week and used a passport and a normal tourist exempt visa stamp

Didn't need anything else except a well dressed shirt and a good attitude when you speak with the manager

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  • 1 month later...
  • 3 months later...

For investing in Cambodian stocks thru Acleda Securities, one has to have an Acleda bank account opened. Anyone knows, which comes first, securities account or bank account?

http://www.acledasecurities.com.kh/as/eng/service

Strangely the securities account is opened first and a lot of people, non-resident, are then finding that they are denied a bank account... lol. You'd have to be insane to invest in Cambodian stocks both of which are wallowing way below their IPO price... and with near zero liquidity in the market.

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  • 1 month later...
  • 3 months later...

Did that Leon and have one fixed deposit and savings account , opened as described in a tourist visa

Which bank, may I ask? I know Phnom Penh Commercial Bank accommodate account opening for walk-in with just passport and tourist visa.
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  • 2 months later...

Canadia Bank, ABA Bank, Cambodia Asia Bank, Phnom Penh Commercial Bank and Cambodia Post Bank require passport, visa and "self declared" local address and mobile phone number. Canadia, ABA and CAB have Internet and/or mobile banking services,

Acleda and Foreign Trade Bank require passport, visa with 6mo+ validity, local business or employment certificate and local residential contract. Both have Internet banking too.

Above per recent experiences of me and my friend in Phnom Penh.

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  • 1 year later...
  • 6 months later...

3 days ago - Opening a current account at ACLEDA requires a minimum opening deposit of $1,000 in US dollars or nine other currencies and an ongoing balance of $500 or more. Canadia Bank(canadiabank.com.kh) is one of the largest local banks in Cambodia and another expat favorite. They offer fee-free withdrawals from their ATMs freedom apk download

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