Whether you’re a digital nomad, expat, or just a foreign tourist looking to open an account during your stay in Cambodia, ABA Bank offers a range of services tailored to meet your needs. This comprehensive guide will walk you through everything you need to know about ABA Bank, from account types to fees and accessibility, making your financial management in Cambodia seamless and straightforward.
Overview of ABA Bank in Cambodia
ABA Bank, previously known as Advanced Bank of Asia, has become one of Cambodia’s leading commercial banks since its establishment in 1996. Renowned for its innovation, reliability, and stability, ABA Bank provides an array of banking products and services to both local and foreign individuals and businesses.
Products and Services
ABA Bank offers a broad spectrum of financial products and services, ensuring that all customers’ needs are met:
- Savings Accounts: Secure and accessible options for storing your money.
- Fixed Deposits: Higher interest rates for longer-term savings.
- Personal Loans: Flexible lending options for personal needs.
- Mortgages: Financing solutions for home purchases.
- Debit and Credit Cards: Convenient payment options for everyday expenses.
- Remittances: Easy international money transfers.
- Trade Finance: Solutions to support business trade activities.
- Payroll and Cash Management: Services to streamline business operations.
- Digital Banking: Internet Banking, Mobile Banking Apps, and an extensive ATM network for 24/7 account access.
Branch Network
ABA Bank boasts over 85 branches across Cambodia, including major cities like Phnom Penh, Siem Reap, Battambang, and Sihanoukville. Each branch offers full banking services, equipped with ATMs, cash deposit machines, and customer service centers to ensure maximum convenience for customers.
Safety and Security
ABA Bank is regulated by the National Bank of Cambodia, ensuring compliance with high standards of risk management, corporate governance, and customer protection. This regulation guarantees a safe environment for depositing and investing money, making ABA Bank a trustworthy choice for your financial needs.
Opening an ABA Bank Account as a Foreigner
Opening a bank account with ABA Bank in Cambodia is a straightforward process. Here’s what you need to know:
Requirements
To open an ABA Bank account, you’ll need to provide the following:
- Original Passport: For identity verification.
- Cambodian Phone Number: Required for receiving SMS notifications and security codes.
- Initial Deposit: At least $50 for a standard savings account, with no deposit needed for a mobile account.
- Residency Information: Details of your current stay in Cambodia, even if it’s a hotel.
Application Process
The steps to open an account are simple:
- Visit a Branch: Request to open a foreign bank account.
- Submit Documents: Provide your passport, phone number, and residency information.
- Complete the Form: Fill out the account application form.
- Approval and Deposit: Once approved, deposit funds and start using your account.
ABA Bank Services for Foreigners
Opening an Account
Foreigners can open accounts in multiple currencies, including USD and KHR. A USD account is often the most convenient. The process does not require a minimum balance.
Online & Mobile Banking
ABA Bank’s digital banking services allow you to manage your account anytime, anywhere. The online banking platform and mobile app are available in English and provide secure access to your finances.
International Transfers
ABA Bank facilitates international transfers through wire transfers and remittances, with typical processing times ranging from 1 to 5 business days. The bank is connected with major payment networks like SWIFT, ensuring smooth international transactions.
ATM & Branch Services
With over 300 ATMs and extensive branch coverage, accessing your funds is easy. Account holders receive an ATM card for free withdrawals at ABA ATMs. Branches are open on weekdays and Saturdays, with some offering Sunday hours. English-speaking staff are available to assist you.
ABA Bank Branches and ATMs in Cambodia
Phnom Penh
The capital city hosts over 30 ABA branches and 80 ATMs. Key locations include:
- Central Market Branch: Open 7 days a week, 24-hour ATM access.
- AEON Mall Branch: Located on the 2nd floor of AEON Mall, open daily.
- Riverside Branch: Open 6 days a week, until 6 pm.
Siem Reap
Siem Reap features 4 branches and over 20 ATMs, with convenient access near top hotels, restaurants, and the Angkor Wat complex.
Sihanoukville
This beach destination has 5 branches and over 10 ATMs, with branches like the Golden Lions Plaza Branch open daily until 8 pm.
FAQs About ABA Bank in Cambodia for Foreigners
Do I need a Cambodian ID to open a bank account?
No, a passport is sufficient for opening an account with ABA Bank.
What types of accounts does ABA Bank offer for foreigners?
ABA Bank provides multi-currency accounts, fixed-term deposit accounts, and comprehensive digital banking services.
How do I apply for an account?
Visit any ABA Bank branch with your passport, a passport photo, and proof of address. Fill out the application form and provide the necessary documents for verification. Once your account is approved, you’ll receive your account details and debit card.
Conclusion
ABA Bank offers comprehensive banking services tailored to the needs of foreigners in Cambodia. With easy account opening procedures, extensive branch and ATM networks, and robust digital banking options, ABA Bank ensures a seamless and secure banking experience.
Aditional note:
If you are interested in buying a house or apartment in Cambodia, you will inevitably need a bank account and ABA Bank is definitely recommended.