How to Open Bank Account in Cambodia Remotely from Overseas (GUIDE)

ACLEDA BANK

one of top 5 banks in Cambodia

Open Savings or Current account (minimum $10) first before Term Deposit up to 7.5% Riel / 6.5% USD, THB 4.25% (minimim $500)

Note: you will need to have a savings or current account first which is funded before opening a Fixed Deposit account.

Savings Account


(click on Q&A link, scroll down for general info)

Step One

First register your interest
https://www.acledabank.com.kh/kh/eng/appform_deposit
this will provide you with contact details for the Bank Rep for later advice and for sending your documents to.

Step Two

Forms required for respective accounts, scroll down as per the account needed example.savings.
https://www.acledabank.com.kh/kh/eng/formcenter#desavingacc

Suggest you complete all the documents listed.under the account you want, except the Kymer one.

Requirements / Methods Personal Account (scroll down page to “open account from overseas”)

Step three

  1. Ensure you register your interest as per Step One.
    https://www.acledabank.com.kh/kh/eng/appform_deposit
  2. Notary certified copy of your passport
  3. Notary witnessed signature of all the required forms as listed documents, as per step two (do not date the forms)
  4. then passport and signed documents/notary witnessed to be recertified:
  • your embassy certify in Cambodia (difficult / expensive as then you need to arrange agent to handle POA and then pass to the Bank)
    OR
    Easiest Option/cheapest;
  • request your bank to issue a SWIFT MT999 message to Acleda Bank to confirm Banking Relationship, you will need Acleda Swift code ACLBKHPP, head office bank address and provide the name of Bank Rep, who responded to your intial enquiry email as detailed in Step One. (some banks may not do this for you, cost depends on Bank approx 50$, mine wouldnt do it).
    then you nay send your notary witnessed documents direct to the bank. (A contact advised his bank agreed so this is easiest method)

OR
a little more expensive as need second notary in Cambodia, but easier than using embassy.

  • notary in Cambodia to certifiy again your documents /passport and pass on to the Bank on your behalf. approx 300$. the notary will need email of your orgional notary as they will contact them foe verification.

Notary List of here.
https://www.google.com/search?client=firefox-b-m&q=notary+cambodia+list&oq=notary+cambodia+list&aqs=heirloom-srp

Check with the Bank Rep if they are ok with the method you propose. for example advise your embassy will not do it unless you are there in country. Check with your bank if they say ok, propose that method. or if no advise. you are using the notary in Cambodia to recertify.

Caveat:
this method provides Banking by email /phone only, if you travel there afterwards then you may order and collect Bank card takes 3 days after request collect from the Bank, but will need to obtain a local phone sim (passport local phone shop) for ATM notifications and IBanking for OTP.

if you decide to travel there instead to open an account useful information here, need get a Business Visa on arrival etc, some banks are stricter than others but I told.can be done.

I note ABA Bank are pushing the digital envelope so I am sure Acleda will follow suit in due time and will probably improve their on-boarding process for opening overseas.

Happy Banking, :smiley:

1 Like

This is an interesting option - thanks for sharing, might try it out!