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Banking products
Accounts we set up online:
1/ Traditional bank account without the need to go to Cambodia. Opening an account is done online: installation of the banking application, verification and selfie. Then you order a card (UnionPay; soon there will be a Visa card) which we send to Poland. After verification, we get level 1 and a daily ATM withdrawal limit of $5k. We can perform level 2 verification without limits upon request. We receive a dedicated application for the account, using which we convert
USDT into $ within a minute and deposit it into the bank account. It works great, tested on a daily basis. In this way, we have two applications on the phone that work together: a
crypto exchange office (without
KYC) and a bank to which we already receive FIAT. The disadvantage of this account are international transfers, which we have to order and are quite expensive, and the lack of MC and Visa cards. UnionPay card it doesn't work everywhere, but you can easily use it to withdraw
cash from ATMs and pay in many places around the world and in Poland. In Asia, it works everywhere,
crypto/fiat exchange cost 2.25%
2/ Cambodian "
Revolut", a local fintech that works great but without an IBAN account, UnionPay card, limit of $5k per day, $100k can be transferred between users. Crypto/fiat exchange 3%. Here we also do it online, no need to visit us in person.
Accounts set up on site, require personal presence in Cambodia:
3/ Traditional bank account with all account attributes like in Europe, easy transfers, SWIFT, IBAN
MC, Visa, Union Pay cards with limits up to $50k per day. We only open an account in person, the cost is. Account maintenance is free, crypto/fiat exchange 3%. This fee includes a business visa from us, which entitles you to permanent residence in Cambodia.
There is a private banking option in a small bank, but this option must be discussed in person.
Cambodia is not a party to the
CRS Treaty and does not report any financial information outside its borders.