Cambodia (KH)
Affordable Southeast Asian base with easy daily life, a large Phnom Penh and Siem Reap expat scene, strong NGO/tourism/education networks, fast digital payments, and visa rules that are flexible but increasingly document-driven.
Banking in Cambodia
Recommended banks, payment culture and credit score basics.
Cambodia operates a highly dollarised dual-currency system: USD is used for all larger transactions, rent, salaries, and prices above roughly $1; Cambodian riel (KHR, ₭) is used for small change and everyday purchases (1 USD ≈ 4,000–4,015 KHR as of May 2026). This makes Cambodia banking very accessible for English-speaking expats — USD accounts are standard, and most signage is in English alongside Khmer. The standout feature of Cambodian banking is the Bakong national payment system and KHQR code infrastructure: a QR code on virtually every shop, restaurant, tuk-tuk, market stall, and clinic allows instant payment from any Cambodian bank. ABA Bank is overwhelmingly recommended by expats for its excellent mobile app, fast onboarding (online account possible in 15–20 minutes), and massive merchant acceptance. The National Bank of Cambodia (NBC — nbc.org.kh) is the central bank and regulator.
Recommended banks
ABA Bank
EnglishMonthly fee: No monthly fee for standard personal USD/KHR accounts; minimum balance requirement may apply for some account types (check current terms)
Requirements: Passport + valid visa/extension + local Cambodian phone number + email address. Online application via ABA website or app: upload passport and visa, complete video KYC — account typically approved in 15–60 minutes. In-branch: 30–60 minutes. No lease agreement or employment letter required for basic account.
- + Best mobile banking app in Cambodia by wide consensus — clean UI, fast, reliable
- + KHQR QR payment accepted everywhere in Cambodia — markets, tuk-tuks, clinics, schools
- + USD and KHR accounts in one app; real-time balance notifications
- + Online account opening — can open before arrival if you have a Cambodian phone number
- + ABA ATMs free for ABA customers (widespread network); other bank ATMs ~$4 fee
- + Visa debit card included; widely accepted at international businesses in Phnom Penh
- + International transfers via Wise integration or SWIFT
- + ABA Insurance products available through the same platform
- - KYC may be stricter for very short-stay visa holders (tourist visa) — E-class visa makes account opening much smoother
- - Large USD cash deposits may require source-of-funds documentation
ACLEDA Bank
EnglishMonthly fee: Free for standard USD current account; account maintenance fee USD $1–3/month if monthly balance falls below minimum (typically $100–500)
Requirements: Passport, valid visa/extension, local phone number, address. In-branch process: 1–2 hours. Wide branch network — useful if you need in-person banking outside Phnom Penh or Siem Reap.
- + Cambodia's largest bank by total assets — maximum financial stability
- + Extensive branch network throughout all provinces — best choice for expats living or working outside major cities
- + USD, KHR, and some foreign currency accounts
- + Strong local business and NGO banking relationships
- + KHQR payments supported
- + Long-established international correspondent banking relationships
- - Mobile app rated less highly than ABA by expat community — functional but less polished
- - In-branch required for most account management — less convenient for busy expats
- - Fewer innovation features than newer banks
Canadia Bank
EnglishMonthly fee: Free for standard USD current account; USD $2–5/month for premium packages
Requirements: Passport, valid visa, address, employment or business documentation often requested. In-branch process in Phnom Penh.
- + Popular with long-term expats and Cambodia business community
- + Strong business banking offering — useful for company accounts
- + USD accounts with good FX services
- + Established brand with Cambodian market confidence
- + KHQR payments supported
- - Branch process slower than ABA
- - Less prominent mobile banking experience
- - Documentation requirements can be more extensive for new account opening
Wing Bank
EnglishMonthly fee: Minimal wallet/account fees
Requirements: Phone number and identity documents; KYC level determines transaction limits. Wing agent registration available throughout Cambodia.
- + Wing Money transfer — the best option for sending money to provincial areas where traditional bank branches are scarce
- + Very wide physical agent network across all 25 provinces
- + Bill payment, top-ups, and mobile money transfers
- + Useful complement to a main ABA/ACLEDA account
- + Good for domestic remittances within Cambodia
- - Not a full substitute for a primary salary banking account
- - Transaction limits at lower KYC levels
- - Less international transfer capability
Payment culture
Cambodia's payment culture is rapidly modernising but still very cash-oriented for certain demographics and locations. Key facts: (1) USD is king for amounts above ~$1 — always carry crisp, clean USD notes (merchants frequently reject torn, written-on, or very old USD bills). (2) KHR is used for change — a $5 purchase might be paid with a $5 bill and change returned in riel. (3) KHQR is transforming payments — by 2026 virtually every business in urban areas accepts KHQR scan-to-pay; open your ABA or Bakong app and scan. (4) Credit and debit cards (Visa/Mastercard from ABA and ACLEDA) are accepted at supermarkets, international restaurants, and hotels, but not at markets, local restaurants, or small shops. (5) Never hand over cash without confirming the amount; count change before leaving. (6) Contactless payments (NFC) are less common than QR — QR is the standard mobile payment method in Cambodia.
Cash access
ATMs: widespread in Phnom Penh, Siem Reap, and provincial towns; most dispense USD; some dispense KHR; available 24/7 at major banks and in shopping centres. ABA ATMs: free for ABA account holders; excellent coverage in Phnom Penh. Other bank ATMs charge expat cards typically USD 3–5/withdrawal. Always carry USD cash and small KHR notes. Critical cash tips: (1) USD bills must be clean, undamaged, and recent-print — merchants reject torn, marked, stapled, or very old bills. (2) Large USD denominations ($100 bills) may receive scrutiny from merchants — $20 and $50 bills are most practical. (3) Carry KHR 50,000–100,000 (~USD 12–25) in small denominations for tuk-tuks, markets, and change. (4) Airport money exchange: rates are poor; change minimal amounts at arrival and use ATM for the rest. (5) Provincial areas: carry more cash as ATM availability decreases outside Phnom Penh, Siem Reap, Sihanoukville, and Kampot.
Credit Bureau Cambodia (CBC) credit report
The Credit Bureau Cambodia (CBC — creditbureau.com.kh) maintains credit records. Individuals can request their own credit report from CBC directly (fee applies). Banks and microfinance institutions check CBC records before approving loans, credit cards, or vehicle finance.
Free annual check: CBC does not offer a free annual report equivalent to Germany's SCHUFA Datenkopie — a fee applies for individual reports. Banks may include credit checks as part of loan applications.
New expats typically have no Cambodian credit history — this is normal and not a problem for basic banking. To build credit history: maintain a current account with regular salary deposits, avoid overdrafts or missed payment deadlines, and after 6–12 months consider applying for a debit/credit card. Late payments on microfinance loans or credit products in Cambodia can appear on CBC records and affect future borrowing. International credit history from home country is generally not transferable to Cambodian CBC records.
International transfers
For sending money out of Cambodia or receiving money from abroad: (1) Wise — best exchange rates and lowest fees for USD transfers; widely used by expats for sending savings home; transfers from Cambodian USD bank account work well via SWIFT to Wise. (2) Bank SWIFT transfer — ABA, ACLEDA offer international SWIFT; fees typically USD 15–25 per outgoing transfer plus exchange rate margin; incoming international wires: no fee at ABA for USD to USD accounts. (3) Western Union and MoneyGram — widely available in branches and agents throughout Cambodia; useful for urgent cash pickups but more expensive than Wise for regular use. (4) Employer payroll from abroad — many remote workers and NGO staff receive USD salary directly to Cambodian USD bank account via international wire; confirm banking details with employer (ABA Bank SWIFT code: ABAAKHPP). (5) Large transfers: amounts above USD 10,000 may trigger documentation requirements (source of funds); prepare to provide bank statements or salary records.