Tuesday, August 5, 2014

Banking And Money

Money
Though Cambodian riel (R) is the official currency, US dollars are used as commonly used as riel. Most businesses, especially hotels, restaurants, airlines and other transportation, markets and souvenir shops set their prices in US dollars. Though the exchange rate varies over time, it has hovered near 4000R to the dollar for several years and many small businesses treat 4000R as the de facto rate regardless of today's exact exchange rate.

All Cambodian currency is in the form of paper notes. Currently the country does not employ coins. Notes range in denomination from 100-100,000 riel. 500, 1000, 2000, 5000 and 10,000 riel notes are the most common and useful denominations.

Money changers tend to give a slightly better exchange rate than the banks. When accepting US dollars in exchange or change, inspect the bills carefully. Marred riel is acceptable tender, but the tiniest tear in a large US note renders it worthless in Cambodia.

ATMs
ATMs are located across town with several at banks along Sivutha Blvd and around Old Market area. All ATMs accept Visa and most also accept Cirrus, Plus, Maesro, and Master Card. Unless you have a Cambodian bank account, all ATMs dispense in US dollars.
Credit Cards
Visa and Master Card (MC) are the most widely accepted credit cards in Cambodia. AMEX, JCB cards, the ANZ blue spot card and  the ACLEDA Bank Gold Dot card (GD) are accepted at some places, Some businesses charge a 2%-4% fee on credit card payment.
Travel Checks
Travelers checks are accepted at most banks, major hotels and restaurants and some money changers.
Banks
Banks provide currency and travelers check exchange, credit card advances, telegraphic transfers and all usual banking services. Most banks are open from 8:00AM to 3:00PM or 4:00PM, Monday through Friday. Some banks are open Saturday morning until 11:30AM.

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