Opening a bank account

Ooops sorry. Looking around the forum I think I found my answer! Is Canadia Bank the best choice for trying to open a bank account with no long term address? I checked out ABA, they seem to only require a passport and an entrance visa.

We are currently not in our home country so will be cashing out our account here and arriving with a fair bit of cash.

I don't think so.

Among the requirements to open a bank account are a copy of your rental agreement and a visa extension that is at least 4 months valid from date of application.

Not so difficult if you plan to stay longer, as soon as you have found your apartment/house you can open a bank account.
Be aware that some banks like ABA also ask for an employment contract. Canadia bank does not require this, just rental contract, visa extension long term and $10 deposit.

Cheers.

Joe
Cambodia expert
Expat.com team

Thanks Joe

My first email contact with ABA indicated that I would be able to, but I am not sure that they understood my situation. I emailed them again to get clarification.

I will let you know how it works out.

So there are any Banks at all that you know of that don't require an address?

We are coming from UAE and arriving with a fair bit of cash, no way I want to have this much on me for a Long period of time. I still don't have an Emirates ID so that means I can't even open an account here yet and have them send it to me.

Hi Joe

Just received an email back from ABA. They are being quite adamant that it is possible to get an account with only the address of a guesthouse or a hotel.

Torn what to do here as you and others here who are experienced say otherwise. Would hate to show up and get a nasty surprise.

I opened an account with ATM card and also some time deposits at Canadia Bank.  I used my hotel name and my room number on my account.  No problems for me and have gotten money out and switched opened and closed time deposits without any problems.

A thought, if carrying over 10,000 USD or equivalent - you had better have the proper forms with you showing the money was legally leaving the country (for the U.S. it is the Fin Cen Form 105 Custom's Declaration - for carrying more than $10K into or out of the country).  IF you don't have the proper paperwork - you will ALMOST CERTAINLY have the money confiscated if found.  You also need to have them write on your custom's declaration the amount you bring in so you can bring out what you don't use when you leave.  Make sure you get AND KEEP your custom's declaration - just checking the box without getting the money checked and that paper signed is no proof (and they will keep your form anyway if they don't take you back and have an officer verify the amount).  Make sure you are VERY close to what you say you are bringing (you can explain a little less than was declared in your country (food, drinks, in the airport etc.) but large differences will not be appreciated and could cause problems).



/GBDUSMC/

Hello Starclassic2012,

Maybe you could find further information here : Opening a bank account in Cambodia or have a look at Banks and finance in Cambodia.

Hope that it will help,

Alexia
Expat.com team

Thank you!

Starclassic2012 wrote:

Hi Joe

Just received an email back from ABA. They are being quite adamant that it is possible to get an account with only the address of a guesthouse or a hotel.

Torn what to do here as you and others here who are experienced say otherwise. Would hate to show up and get a nasty surprise.

Some branches act differently, sometimes more relaxed, sometimes more strict.

I know from my own experience that Canadia bank is easy in that no employment contract is needed and the deposit is only 10 bucks, whereas ABA wants 50 bucks deposit and an employment contract.

Find out yourself once you are here, go to the nearest bank branch and inquire.

Good luck.

Joe

Hi, just to throw my two pence into the ring. I get a bank account with ABA last year using my apartment contract and a one month tourist visa. My partner went into the same branch this year and was told the the banks policy has changed and you have to have a minimum of a 6 months visa to open an account.

Thanks guys
Will be arriving with a large amount of cash. I won't get into details but there is really no way around it. Just don't want to be wandering around with it.

Maybe the fact that I told them I have a fairly large amount to deposit changed the rules.

Hey gbd somehow missed your reply. Thanks though, it's what I need to know and the amount is below 10 grand so I should be okay?

Unless things have changed very recently.. I was able to open an a/c with Canadia while I only had a temporary hotel address (they asked for no confirmation of this address at all).. I only had to produce my passport with a current visa affixed. But I have since. for personal convenience opened accounts with Aclida and RBH who needed confirmation of a personal current address (Pun and landlord)

JoeKhmer wrote:

I don't think so.

Among the requirements to open a bank account are a copy of your rental agreement and a visa extension that is at least 4 months valid from date of application.

Not so difficult if you plan to stay longer, as soon as you have found your apartment/house you can open a bank account.
Be aware that some banks like ABA also ask for an employment contract. Canadia bank does not require this, just rental contract, visa extension long term and $10 deposit.

Cheers.

Joe
Cambodia expert
Expat.com team

Are you usually given a passbook when a savings account is opened?

Yes, you get a bankbook where all transactions will be printed each time you visit the bank office.

I avoid the waste of paper by doing internet banking, easy all info and transactions from home.

Joe

I opened a current account with ABA in Siem Reap recently. The only thing I had to show was my passport which, as it happens, has a year long Visa.

Are there any members from this forum that opened a bank account had issues with banking?

Please provide bank name and pros-cons.

Thank you.

No problems. All good with ABA for me