Opening a bank account

There is quite a few bank in here.
ANZ doesn't hold the "ethical" palm as it is involved in many issues regarding the companies it funds.
ABA has the lowest fees and easiest service if you need to do bank transferring with another country.

Then again you might want to see if they deal with VISA, MasterCard, Plus or Cirrus system (in term of compatibility with your country's card system). In term of points of sales, or ATMs, Acleda is the most spread out ATM/Branch system in Cambodia. You'll find their ATM in the middle of the forest! They are everywhere, so that can be useful.

If you want to invest money in different saving or financial products, I suggest you go through these banks' website as well :

ABA : ababank.net
ANZ: anzroyal.com/en/Personal
FTB : ftbbank.com
Acleda : acledabank.com.kh/kh/eng/index.php
Canadia : canadiabank.com.kh
Maybank : maybank2u.com.kh

Hope it helps.

thank you for the help!

canadia bank is good.

Hello.
Do you know if those banks you mentioned charge for ATM withdraws? How much is it?

Thank you.

For me Acleda had better interest rates but Canadia is just around the corner. Both has internet banking and at Acleda I can do atm transactions via phone confirmation number without an actual atm card. So pick the one with easiest access.

Hi ;

no fees if you withdraw from an ATM that belongs to your institution.

Can an expat open an account without a Cambodian signatory to the account?

K9Cambodia, it is not necessary for an expat to have Cambodian signatory to open an account. I know that in ABA Bank you will need your passport and valid entry visa only.

Thank you so much for that information. That really is helpful

Igor Z. wrote:

K9Cambodia, it is not necessary for an expat to have Cambodian signatory to open an account. I know that in ABA Bank you will need your passport and valid entry visa only.

Hi Igor Z.
Could you share some of your experience with ABA services?
Are they good and efficient?

Thanks

yes definitely the most technologically advanced bank
you will need the usual proof of address etc ID

hmartires wrote:

Igor Z. wrote:

K9Cambodia, it is not necessary for an expat to have Cambodian signatory to open an account. I know that in ABA Bank you will need your passport and valid entry visa only.

Hi Igor Z.
Could you share some of your experience with ABA services?
Are they good and efficient?

Thanks

Hello and sorry for that late reply. I didn't have any notification on your post.
Well, ABA Bank is considered as the most technologically advanced bank in Cambodia. And it says it all. Internet Banking, mobile application, cash-in machines, queue machines in the branches, 24/7 call-center and online web chat. I guess, it provides all necessary channels of communication with the bank.

The interest rates for deposits are one of the highest in the country (Fixed deposit is 6.25% for USD if money kept for 36 months).
Loan rates are also good ad even negotiable, but the loans are mostly disbursed to the local people, who have collateral to put against the loan.
Currently, the Bank has 27 branches with 14 of them in Phnom Penh.
Do you want to know something in particular? Please, comment and I will try to provide you with all the information on the subject.

Hi,

I moved to ABA recently after some bad experiences with Canadia Bank. Seems like a better service so far and online banking is definitely better then Canadia. Interest rates are also a bit higher then Canadia but if you want your sleeping money to ''flourish'' the most, you should think about MFI's. Prasac for instances gives 8% (minus tax) on a fixed dollar account for 12 months.

And if you should wonder about my experiences with Canadia in short:

- Asked to return to the bank because they give me the wrong copies after an international money transfer;
- Seemingly unable to do an international money transfer weeks later and asking me to go home and get the copy of the previous one so they could get a clue(?);
-  making a visa payment and calling me later that day to come back to the back because they .. gave me the wrong copies.
- Refusing to cancel my credit card (I had to wait six months before it could be cancelled!) because an certain amount was blocked by a hotel in Bangkok and 0 USD (that is zero) was blocked by some other company (how do you block zero dollar?). They told me to contact the hotel, which I did. The hotels duty manager wrote an official letter saying they are not blocking anything. Canadia bank still refused, told me to ''contact the bank of the hotel and visa company to solve it'' ( Am I the customer or the bank!?). As to the zero dollar I tried to explain to them that they are not cancelling the credit card because someone might charge me zero dollar within the next 6 months? The answer was ''yes sir''. The f*ck! Anyway eventually decided to say to hell with the all important saving face approach for locals here and made a scene in the bank. Told them they had 72 hours to fix it (it had been an ongoing drama for two weeks with getting back and forth to the bank) and surprise ...it was fixed.

Closed everything and moved to ABA. Apologies for the rant.