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.
2023 November
500 USD from American VISA debit card in Phnom Penh:
Fee:
BRED – 4.00
ABA – 7.00
J Trust Royal – 7.50
I just withdrew some cash at a Sacombank ATM. They charged me a $2.40 fee on a $160 withdrawal, not too bad.
Note: I accidentally posted this comment on a different post.
Thank you I just found that atm. I brought 10 Us 100 notes but they won’t accept them here because they are 2009 issue
Yep have to be new and crisp to be accepted.
I withdrew $400 from the ABA ATM inside the SuperDuper on Street 488 this afternoon and the fee was $5. But I am with Charles Schwab, and they refund all ATM fees. :)
This benefit from Charles Schwab is really fantastic. I use them too.
My Last withdrawal at an ABA ATM from my SCB Thai bank charged me $6 so it is going up!! And like the article says adds up fast.
They seem to charge more for higher amounts, unfortunately!
Hi All,
May be of interest to any UK users out there. I’ve just opened a current account with Bo which is owned and supported by NatWest Bank. Bo use Visa and don’t charge any foreign ATM withdrawal fees (so if I use MB Bank then it’s a totally free transaction!). I also have an account with Starling Bank, which are also free but they use Mastercard. Both are mobile app only and offer the security of switching off different functions of the card – very useful if you lose it!
Your comment on ABA bank is changed. They charge 9 usd now in 2020.
Are you sure that $9 is from ABA? Or is some of it from your bank?
ABA definitely
That’s definitely not true.
Hi! Just tried to withdraw 400USD from a ABA ATM in Battambang and the fee was 7USD. I checked some banks and the lowest fee was ACLEDA at 4USD… It seems every ATM is charging the fee now
Pablo that’s very strange because I withdrew $400 from ABA last week and the fee was $5, but when I withdrew $500 it was $6. It’s really extortionate. Are you using a US bank account?
I found Vattanac atm’s to be the best. They only charge $4 and give out a mix of notes instead of all 100’s. They also accepted my Mastercard.
I concur. I withdrew US$500 from a Vattanac Bank ATM in Siem Reap and was charged US$4. Was very happy that the ATM gave me small bills too. I went around ATMs in Siem Reap before coming to Vattanac Bank.
At MB ATM there’s sign “only VISA and JCB”. And a staff member told me “only VISA”. Aret there MB bank ATMs that accept Master Card too?
I don’t think there are unfortunately. I visited three different MB Bank atm in Phnom Penh in 2019 and none were Mastercard. I also asked at the head branch at Monivong/St214 and they confirmed this.
avoid the atm of anz royal, now changed into
j trust royal. for many years already the charged
$8 for an atm withdrawel.
They don’t charge $8 for an ATM withdrawal. That probably includes the charge that your bank adds to use a foreign ATM.
If you have an account with ally bANK. Besides the impressive high interest on your savings account you also get reimbursed for up to 10$ worth of fees per month.
When are you people going to realize that ATMs are a HUGE (think Trump) moneymaker for the banks throughout SE Asia, and they’re never going to fast track you to any savings you yourselves don’t come up with first.
For my fellow Americans, may I suggest you get a debit card from a bank or brokerage that refunds ALL service fees, and because there’s no currency exchange fees for USD’s, you’ll pay nothing at all.
This suggestion has been posted may times on Move to Cambodia, and it will be my last reminder.
PS What the hell are you doing in that hellhole anyway? They’re only going to steal your precious cash. Hahaha.
Thank you – I just googled this and found Charles Schwab Bank not only reimburses 100% of all ATM fees – they have No foreign transaction fees.