Photo by Marques Thomas

Best way to send money to Cambodia

There are several ways to send money to Cambodia, including:

  1. Bank wire transfer: Many banks offer international wire transfer services, which can be used to send money to Cambodia. This method is generally reliable, but can be expensive due to high fees.
  2. Online money transfer services: Companies such as Western Union, MoneyGram, and Ria offer online money transfer services, which can be used to send money to Cambodia. These services are generally faster and more affordable than bank wire transfers, but fees can still be relatively high.
  3. Mobile money transfer services: Mobile money transfer services like Wing, SmartLuy and TrueMoney allow you to send money to Cambodia directly to a mobile phone number. This method is fast and convenient, but it’s only available if the recipient has a mobile phone and a bank account that is linked to that mobile phone number.
  4. PayPal: PayPal is widely accepted in Cambodia, and many merchants and businesses accept PayPal as a form of payment. If you have a PayPal account, you can send money to Cambodia by sending it to a recipient’s PayPal account.
  5. Bitcoin: Bitcoin is a digital currency that can be used to send money to Cambodia. This method is fast, secure and has low transaction fees, but it is not yet widely used and accepted in Cambodia, so it’s not a very common way to send money.

When sending money to Cambodia, it is important to compare fees and exchange rates from different providers before choosing a method, and to make sure that the recipient has a bank account or mobile phone to receive the money.

How to transfer money to Cambodia

If you’re curious about sending and receiving money in Cambodia, this blog post will give you some tips and best ways to do it. This is based on my experience using these available money transfer services.

There are several services available you can check out. Some are more costly than the others. Trust and secure are what most people are looking for.

Payoneer

I’ve used Payoneer for several years. It’s one of the easiest way to get your payment deposit in your local Cambodian bank account. The fee has been increased quite a bit since the pandemic. Payoneer is a favorite choice among Cambodia-based freelancers.

Wise

Formerly WiseTransfer, this online service makes transfer money abroad easily and quickly with its low cost money transfers. There are many choices of currencies available.

The good news is that it’s until 2022 that Wise is available for a country like Cambodia. To create a Wise account is quick and easy. You may want to connect to your Cambodian bank debit card or not is up to you.

Paypal

Is PayPal used in Cambodia?

The good thing is anyone in Cambodia can have a Paypal account to send money. Unfortunately, Paypal has not added Cambodia to list of countries with the capability to receive money.

So, Cambodia’s Paypal users can only send or transfer money, but they cannot receive money through their Paypal yet. While it’s usually safe and secure to transfer money from Cambodia to abroad through a bank, Paypal is also a way that most Cambodians use.

Money transfer through bank in Cambodia

The most popular bank in Cambodia right now is Advanced Bank of Asia (well-known as ABA), which is a member of National Bank of Canada Group. Everyone has an ABA.

You can easily use any of Cambodian banks to transfer money within Cambodia. It’s usually free of charge for the same bank transfer. For example, if you’ve got an ACLEDA account, you can deposit your money for someone who has an ACLEDA account.

I’ve got an ABA account, so that I can easily swipe its smart phone application to transfer payment for my freelancers. If you and your recipient don’t have the same bank account, there is typically a small bank charge for the transfer service.

Bakong is also another great solution for mobile money transfer. With a registered account, you can easily and quickly send money from a local bank to another local bank.

Mobile money transfer services within Cambodia

Mobile money transfer services like Wing Bank and TrueMoney allow people who have no bank account to receive money. All they need is a phone to get the money at the agents near their home.

Sending money to a foreign a country

For example, if you want to send your payment to your business partners in Thailand, you can use Bangkok Bank (Cambodia), which charges about $5 for the amount under $1000. You don’t event need a bank account with this Bangkok Bank branch of Thailand. However, the bank usually asks for all the details about your transfer.

Unofficial yet reliable, fast, and cheaper to send money abraod This is one of the cheapest ways to transfer money from Cambodia to some countries abroad.

Sending money from Cambodia to Thailand

Ly Hour Money Exchanger is the best place to send money to Thailand. Their service is fast, reliable and the service fee is reasonable.

There are many agents operating this money transfer services just around the Olympic market. These shop houses offer the services to market vendors and businesspeople in Phnom Penh. For the amount of under $1000, the agent charges just $3 for the service to send the money to your recipient with or without a bank account. Is it safe and secure? You get a receipt for your transaction. The transfer speed is fast. In less than 10 minutes, your recipient may be able to confirm receiving your payment.

Sending money from Cambodia to China It’s unbelievable that there is no service charge from money transfer to China from Phnom Penh.

More available methods and services to transfer money to and from Cambodia

Is MoneyGram available in Cambodia?

MoneyGram customers can now reach their loved ones in Cambodia in real-time by sending directly to Wing Bank accounts. Wing Bank is a Cambodian bank owned by Royal Group.

Skrill: Online payments & Money transfers

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