Not everyone decides to open a local bank account when they move to Cambodia. Should you? We help you break down the cost of taking money out of ATMs, so you can decide for yourself.
Which one will you choose?
Luckily, there are plenty of ATMs to choose from in Phnom Penh, so you can access your foreign bank accounts and buy all of the cheap beers you can drink.
ATM fees have, unfortunately, been going up and up in the past few years. Canadia Bank ATMs used to be free, now it charges $5 per withdrawal. Mekong Bank also used to have no fees and now has joined the $5 per transaction crowd. Unfortunately it sounds like Maybank no longer offers free ATM withdrawals, either.
The rest of us will generally have to pay fees of $4 to 6 per transaction. At the time of writing, of the banks that charge fees, ABA, ACLEDA, and Vattanak have the lowest, at $4, at Cathay United has the highest, at $6. (Additionally, Cathay United’s notification appears to be an advertisement and does not require consent, much to the chagrin of many unsuspecting cardholders.)
These fees add up — withdrawing just four times per month (which, if you have a typical daily withdrawal maximum of $500, means you have a fairly average $2000/month Phnom Penh lifestyle) and you’ll pay $240 per year in fees (plus any fees your own bank can add!).
Are you one of the unfortunate souls with a MasterCard Debit/ATM card in Phnom Penh? There are a few Visa-only ATMs in Phnom Penh, but it’s not that bad. ABA, ACLEDA, ANZ, Canadia, and Mekong all take both Visa and MasterCard and are the most ubiquitous.
Keeping it riel: there are a few ATMs that dispense Cambodian riel.
Most ATMs dispense US Dollars if you use a foreign card. This is really helpful if you are staying in Phnom Penh and Siem Reap (and the main parts of Battambang, Kampot, and Kep) where most prices are in USD, but not so much if you are headed to any of the other provinces and lovely towns villages outside of these urban centers. If you prefer to take out riel rather than go to a money changer, ABA Bank and Mekong Bank ATMs dispense riel.
ABA on Street 57 (next to Sunshine Mart, between St 278 and St 282)
Mekong Bank in Phnom Penh Tower (#445, Monivong Blvd, at the corner with St. 232)
(If you use a card from a local bank, you can always withdraw riel.)
Warning: most Phnom Penh ATMs spit out the largest bills possible, and it can be hard to get change (unless you want to be the one in charge of making sure everyone pays their share of food and drink at your next big group dinner). We recommend withdrawing an amount in USD that is not a multiple of $50– taking out $380, for example, will give you four $20s and three $100s rather than the four awkward $100 notes you would generally be saddled with if you withdrew $400.
(NB: Our favorite places to break $100 bills are: Lucky Supermarket, Brown Coffee, and Supercheap. I’m pretty sure they all know this, but they never give us a hard time.)
There are new banks popping up all the time, let us know in the comments if you discover any no-fee ATMs in Phnom Penh.
Other MB bank ATMs on the riverside/st 118, Monivong Amazon café facing Calmette hospital, Mao Tse Toung/st 205.
There is a new MB ATM along Preah Sihanouk, between Java café and the independence monument. But the MB bank located on Monivong might still be the safest bet, since it has three ATMs (accessible outside banking hours); it’s happened that they’ve all been out of order though. Still no fee at the Cambodian end when I use these with my Bank of America card.
Bred Bank allows up to $2,000 to be taken out at one time and charges $4.00 per withdrawal, helpful for cutting down on fees if one has the money available and doesn’t mind carrying that much cash around. My own bank (Wells Fargo) did not add further charges.
An update: The $4.00 fee charged by Bred Bank was refunded by Wells Fargo so it ended being a free withdrawal.
Confirmed that Bred Bank still allows $2,000 withdrawal with a $4 charge. February 2022.
https://www.bredcambodia.com/contact-us/#atm-locations
Thanks for the update, Roy!
As far as I can tell, BRED Bank remains the best option for both Mastercard and Visa ($4 and $200 limit – your card issuer’s limit notwithstanding). Vattanac Bank is also $4 but has a $500 daily withdrawal limit.
This may not help you unless you are reading this in the USA. Can’t help with no fee atm but I can tell you that’s TD bank offers a checking account/atm card that REIMBURSES ALL fees. They charge no fee themselves but any ATM fee will be reimbursed at the end of the month. The only catch is t requires a high minimum balance of 2,400-2,500 to still qualfify for reimbursement. Best travel card. Takes the sting out of all these PRICY fees.
Sathapana Bank is without fee and you hab choose if you want Dollar or Rial.
I tried last night and it was actually the worst offender (at least the one on the Riverside)!
2% and Minimum (!) $5. Craziness.
Was the fee from your home bank or the ATM bank?
My home bank has no fees and free foreign exchange.
Tal, I must have been there around the same time and came here specifically to post this ($5 at each end in my case). The MB bank atm on riverside is ‘in’ the restaurant on the corner, but it was out of order then.
MB Bank its still without fees which means that you Will pay only the fees of your Bank
Thanks for the tip, I just took 420 USD from MB bank ATM by the river in Phnom Penh WITHOUT paying any fee :)
Yes, can confirm MB Bank ATM was fee free for my UK Visa Debit card last month. I used their main branch at Monivong and St 214 near the German Embassy. Their ATM in the Mekong River Restaurant on St 118 was out of order at the time. According to Google maps they have another ATM near Calmette Hospital as well, but I didn’t try there
In case you travel to VIETNAM after Cambodia.
The Mb bank ATMs in VIETNAM were charging a 2$ fee! Even though no fees were mentioned at withdrawal!
But Checking my credit card balance showed different.
(Sep 2018) I’ve used my European Visa Electron and on the ATM it said that a 5$ fee will be charged. So therefore European Visa cards are charged as much as any other card.
UPDATE: As of August, 2018 Maybank is no longer free for US VISA cards unfortunately. They charge 5 USD per transaction.
I have been getting ripped off royally at the Naga World Casino. I am charged $12.15 for a $400.00 withdrawal, $9.15 for a $300.00 dollar withdrawal and $6.12 for a $200.00 withdrawal. I guess they charge $3.06 for a $100.00 withdrawal. I figured it would be cheaper for me to take as much as I can to reduce the fees. But it seems they don’t go that route. Crooks
You might want to avoid casinos
I failed to mention before, Maybank also reduced the maximum withdraw amount per transaction. It is now $500 USD.