Basics of banking in Cambodia


Banks in Cambodia provide the usual services such as opening of savings and investment accounts, cash transactions, foreign exchange, telegraphic transfers, credit and debit card services and check services. There are a number of international banks present in Cambodia, which offer international banking services. The most common banks used in Cambodia include ACLEDA Bank, Canadia Bank Plc., Union Commercial Bank (UCB), Foreign Trade Bank (FTB) and ANZ Royal Bank. Interest rates are at 1.42%.

To open a bank account in Cambodia, certain requirements will need to be presented, such as a valid long-stay visa, a copy of your lease, a minimum opening deposit, your passport and/or passport sized pictures and assigned letter from your employer verifying your employment in Cambodia.

Foreigners then have choices for multi-currency services in Cambodia as well as card services, check services, and other transactions that they need for international banking. Most banks are open from 8:00AM to 3:00 or 4:00PM from Monday to Friday and some are open until 11:30 AM on Saturdays. ATM's are available 24 hours and there are even some that allow international access in the major cities of Cambodia. All ATM's dispense US dollars, which is the most useful currency for foreigners in the country. It is still advisable, though, to carry small amounts in Cambodian riel as this may be used for small purchases and fares.

Credit cards are accepted in most establishments in the major cities of Cambodia. The most widely accepted are Visa, MasterCard, and JCB cards with American Express following suit, as well as ANZ Bluespot. Diners Club is accepted in some select establishments.

A large number of money changers are also present in Cambodia. They can be found in the traditional markets, and there may even sometimes be designated areas for this type of business as well as sellers of gold. For cash transfers outside of the banks, Money Gram, and Western Union are also present to do the transfers.

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Moving to Cambodia