I have noticed that banks in Cambodia offer currently 8 % for a 12 month Thai Baht fixed deposit.

For USD you get 6 %.

Good deal or to risky?

MichaelMF

Anyone offering so much above market rates generally does so because no one else will lend to them.

jbaldwin speaks the obvious truth.

You wouldn't seriously consider putting money into a Cambodia bank for a margin of about 3% over the international interbank rate for THB would you? That's only an additional $300 per year per $10,000 for all that risk. You'd have to be crazy to take a risk like that for such a small return.

Any further info on the state of Cambodian banks?

I was actually thinking of putting some cash into a Cambodian account.

Are they not part of the international banking system? Does this apply to all banks in Cambodia? Are there international banks (I believe ANZ is there at least)?

Cheers,

Any further info on the state of Cambodian banks?

I was actually thinking of putting some cash into a Cambodian account.

Are they not part of the international banking system? Does this apply to all banks in Cambodia? Are there international banks (I believe ANZ is there at least)?

Cheers,

You are correct, there is the ANZ Royal Bank there, what it is tied into who knows. Now the real question is why would you invest in a Cambodia where the risks are extremly high when you can invest in a 1st. world country like New Zealand and get the same rate? I'd put my money in New Zealand or Australia (at a slightly lower rate) anytime.

Are those Cambodian accounts insured like these?

http://www.everbank.com/main.asp?affid=eb

You are correct, there is the ANZ Royal Bank there, what it is tied into who knows. Now the real question is why would you invest in a Cambodia where the risks are extremly high when you can invest in a 1st. world country like New Zealand and get the same rate? I'd put my money in New Zealand or Australia (at a slightly lower rate) anytime.

Not for investment - I plan to spend some time in the country, using a business visa (which should make it quite easy to open an account) & thought it might be safer than keeping a stack of USD under the bed (when outside of Phnom Penh) !

Are those Cambodian accounts insured like these?

http://www.everbank.com/main.asp?affid=eb

is this a serious question or are you trying to check our alcohol level?

You are correct, there is the ANZ Royal Bank there, what it is tied into who knows. Now the real question is why would you invest in a Cambodia where the risks are extremly high when you can invest in a 1st. world country like New Zealand and get the same rate? I'd put my money in New Zealand or Australia (at a slightly lower rate) anytime.

Not for investment - I plan to spend some time in the country, using a business visa (which should make it quite easy to open an account) & thought it might be safer than keeping a stack of USD under the bed (when outside of Phnom Penh) !

I'm not the sharpest knife in the drawer, but I would be reluctant to invest in a country where your assets could be confiscated overnight "for the common good of the people".

What recourse would you have?

Are those Cambodian accounts insured like these?

http://www.everbank.com/main.asp?affid=eb

is this a serious question or are you trying to check our alcohol level?

How come you Klingons scowl all the time anyway?

Are those Cambodian accounts insured like these?

http://www.everbank.com/main.asp?affid=eb

is this a serious question or are you trying to check our alcohol level?

How come you Klingons scowl all the time anyway?

we are born like this. unfortunately the only cure is temporary... lots of Klingon wine.

You are correct, there is the ANZ Royal Bank there, what it is tied into who knows. Now the real question is why would you invest in a Cambodia where the risks are extremly high when you can invest in a 1st. world country like New Zealand and get the same rate? I'd put my money in New Zealand or Australia (at a slightly lower rate) anytime.

Not for investment - I plan to spend some time in the country, using a business visa (which should make it quite easy to open an account) & thought it might be safer than keeping a stack of USD under the bed (when outside of Phnom Penh) !

Why not just leave it in Thailand and use ATMs to withdraw it when you need it? I share people's concerns about putting it into a Cambodian account, particularly large sums. Perhaps keeping it in Thailand or wherever you live and opening a 'cashflow' Cambodian bank into which you drip feed monthly expense money might be ok, but I wouldnt do much more than that. With international banking arrangements these days, why take the risk.

Alternatively, open an account with ANZ in Australia or New Zealand. They have opened several spanking new branches (called ANZ Royal) in Cambodia over the last year; I'm sure they would have arrangements with their parent bank to allow you free transfers or ATM withdrawals.

You may get Cambodian riel back when you close the account.

You may get Cambodian riel back when you close the account.

great for starting small fires or giving to your kids to play with.