Vlog - E112 - Getting A Bank Account In Cambodia! 🇰🇭 Siem Reap

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  • Опубликовано: 13 сен 2024
  • Now that I have my visa, the opportunity for opening up a bank account in Cambodia is available fo rme. This quick video is just to discuss the process I went through and some of the things you may need to be aware of if you decide to come to Cambodia and want to open an account for yourself.
    Hey everyone. If you are interested in supporting the channel feel free to stop by my Patreon / thefrugalwanderer
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Комментарии • 125

  • @TheThailightZone
    @TheThailightZone Месяц назад +1

    Useful topic 👍 Stay well.

  • @MarkBennett007
    @MarkBennett007 2 месяца назад +1

    This good to know….Thank you

  • @Hea9lt9hy9
    @Hea9lt9hy9 3 месяца назад +4

    Americans can get ATM fee reimbursed from Charles Schools. We can deposit monthly from our Schwab to ABA. Great to have ABA account for easy payment

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +1

      That's good to know. I have something similar with my Canadian bank account.

    • @user-hg1sh5hk5f
      @user-hg1sh5hk5f 2 месяца назад +1

      ​@@FrugalWandererDid they require a large amount deposited in Dollar's and Riel ?????

    • @FrugalWanderer
      @FrugalWanderer  2 месяца назад

      @@user-hg1sh5hk5f Nope They Created them without asking for any deposit. I put a few Hundred in the US account and 80,000 Riel in the other one

    • @user-hg1sh5hk5f
      @user-hg1sh5hk5f 2 месяца назад

      @@FrugalWanderer Thanx very much, I thought it was going to be a lot more.Very much appreciated kind Sir.👍👍🏻👍🏼👍🏽👍🏾👍🏿😉🙏☸️🌎

  • @tangojohn
    @tangojohn 3 месяца назад +4

    Thank you again for very good and a well done explanation of how it works! I am also glad to read here in your comments that others from the USA also use Charles Schwab and that they can transfer into ABA. I opened the Charles Schwab account here in the USA because they reimburse you for any ATM fees you incur internationally. Thank you again for very useful information.

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +4

      I love that I make a video and I end up learning more in the comments than I shared in the video. Haha.

  • @johnedwards8567
    @johnedwards8567 3 месяца назад +3

    Thanks man. New subscriber and going through all your videos and they all very informative. I’m currently in London will visit Vietnam for a month but my final destination to stay for a year is Siem Reap

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +2

      I am looking to spend some time in Vietnam this summer myself. I can't wait to see how it is compared to Cambodia. At least it's easy enough to travel back and forth if I want.

  • @timmyjones1921
    @timmyjones1921 2 месяца назад +3

    Thank You Frugal Wanderer.

  • @TheThailightZone
    @TheThailightZone Месяц назад +1

    3:30 Perhaps the beard confused it. As you likely know, most Thai banks now require face recognition for withdrawals / transfers over a certain (quite large) amount. I had to visit my bank in person and they did the face recognition setup.

    • @FrugalWanderer
      @FrugalWanderer  Месяц назад

      My beard is probably the culprit. Plus with it being white, it does make my face look different to AI. Haha

  • @w.m.p-w8989
    @w.m.p-w8989 3 месяца назад +4

    ABA and Charles Schwab if you are from USA… congratulations 🎈🎊

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +1

      That seems to be the most recommended combination from the States

    • @beaulong
      @beaulong 2 месяца назад +1

      i got denied charles scwhab. my credit is shot from my divorce but it never said the reason.

  • @tukicat1399
    @tukicat1399 3 месяца назад +3

    AAAh... now I know what that thing was in Brown Coffee.....got it!

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +3

      The QR code thing? Yeah. It confused me at first too. Now I know what to look for. Haha

  • @rdc5182
    @rdc5182 3 месяца назад +3

    I am glad to hear that your photo session was a little problematic. I thought it was my ugly mug. Well, maybe it was. The banking staff are very nice and I received my two bank cards the same day. What a great country. I used Remitly and XE Money tranfer out of Canada. The exchange rate was not as good as in the Philippines. To be more accurate , the fees are much more and I think it is because they both use a third party. Now I have to have my Social Security check deposited in a Cambodian bank because mailing addreses for Wells Fargo is no longer accepted. I saw a Vlogger in the Philippinesthat had a Scwab account and he was required to have his funds transferred to a bank in the Philippines two years ago, basically for the same issues. You have to have a brick & mortar address/home in the USA. and not a mailing address or a foreign address. Something regarding money laundering policies of the USA federal goverment. I am not fortunate enough to have a home in the Great USA.If anyone know of a better solution, I am all ears. Thank you Sean for your informative videos. They are much appreciated. Respectfully

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад

      We share similar ugly mugs according to the app it seems. Haha.
      I'm fortunate that if I need a local address in Canada, I still have family there that can accept anything sent to it. I'm hopeful that I won't need to do anything like that for a while.

  • @ipreferfreedom162
    @ipreferfreedom162 9 дней назад +1

    Let us know how easy it is to transfer from Canada when you find out Shaun will you? Thanks for this video it cleared a couple of things up in my mind.

    • @FrugalWanderer
      @FrugalWanderer  9 дней назад

      I never bothered trying to transfer from Canada. All I do is withdrawal from the ATM and deposit it right into my ABA account. My band refunds and fees so I'm good. I didn't need to do any paperwork or talk to my bank. From my understanding the bank that has a working relationship with ABA is the National Bank of Canada. I don't have an account with them so I just didn't bother. The solution I have works for me and I don't have to mess with anything

  • @stevenjb.9275
    @stevenjb.9275 3 месяца назад +2

    You are now off the digital (QR) world. I am not in SEA, and follow the CEO forum. Those folks are keen on keeping the app transfer and withdrawal limits set low it the ABA app. Apparently they are initially set quite high. In-case someone else gets hold of the phone. You may want to try a money transfer service like Wise, Remitly, etc to send funds from Canada.

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +1

      I do not plan on having a bunch of money in the account. It's only being used for spending money. So bank transfers and the rest is not a concern for me. I just wanted to have an account so I didn't need to carry cash on me all the time.

  • @mimibigdy1917
    @mimibigdy1917 3 месяца назад +2

    Great job… another step to living in the Kingdom of Wonder… ABA is a must for easy purchase..

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +1

      The kingdom of wonder is definitely living up to its name. I absolutely love it here. And yes. ABA is a must for easy payment. I use it all the time now.

    • @sethsath6506
      @sethsath6506 3 месяца назад +1

      Congratulations Sean!

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад

      @@sethsath6506 thank you

  • @VagabondRob555
    @VagabondRob555 20 дней назад +2

    Great video, thanks. Do they charge a monthly account keeping fee? also what interest rate do the pay on savings? All the best.

    • @FrugalWanderer
      @FrugalWanderer  20 дней назад +1

      I haven't had to pay a monthly fee. The only one that I added was to get a debit visa card for when I travel. I just wanted to make sure that I had access if the QR payments don't work. The fee for the card was $5 for the year.
      The US account does not get any interest, but the Riel one does. I have no idea what the percentage is, but I do see a slight increase on that account each month.

    • @VagabondRob555
      @VagabondRob555 20 дней назад +1

      @@FrugalWanderer Thank you. I'm enjoying your channel. Cheers

  • @Dondino99
    @Dondino99 2 месяца назад +1

    Nice camera man ! So if I have the initial ordinary visa (that you get when you first arrive) and extend it for 6 months i can get a bank account ?

    • @FrugalWanderer
      @FrugalWanderer  2 месяца назад +1

      From my understanding when applying for the account at the bank. As long as you have a valid visa that is for 6 months or longer, then they can give you an account. I'm not sure if that is with all banks, but with ABA it is their policy.

  • @dmarkham11
    @dmarkham11 3 месяца назад +1

    Yes National Bank is the owner. Usually you need to transfer money from your bank in Canada to a bank in the USA ( Wells Fargo I if I remember correctly) to your bank in Phnom Penh. But with ABA the chain is your bank in Canada to the National Bank also in Canada, then ABA. No USA bank needed which saves you bank fees and conversion to US funds. It also makes the transaction less complicated and lowers chances of paperwork mistakes or issues that could delay a transfer.
    One bit of advice is to consider a bank card anyway. It is always good to have a back up if your phone battery dies or if your phone is in the repair shop. There have been a couple of times in my 5 years here where the app was down for a few days. Usually on a holiday weekend for whatever the reason. A card could come in handy every once in a while. Just my 2 cents.

    • @dominiquetheeasyminimalist
      @dominiquetheeasyminimalist 3 месяца назад

      Why the need to first transfer to the US? As Canadians we can't open bank accounts in the US. Also why would it have to go through National Bank, why not direct? Any bank deals internationally. ABA has been 100% owned by National Bank since 2019.

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +1

      I only have the account to use for day to day purchases. Nothing more. I'm not concerned with transferring funds on a regular basis or dealing with the banks more than I have to. Haha

    • @dominiquetheeasyminimalist
      @dominiquetheeasyminimalist 3 месяца назад +1

      @@FrugalWanderer LOL! Congratulations on reaching 1k!

  • @5ayes12
    @5ayes12 3 месяца назад +3

    Greetings timely video as I have been wondering about this -so how do you pay rent ongoingly especially if you're out and about and not in Siem Reap at month's end.Further would you say that most everyday transactions are in cash.Or more specifically why does one need a bank account.Thanks Sean happy trails

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +1

      A bank account is not necessary here at all. You would just need to have money on hand with you. Every location I have visited will take cash. Either the US dollar or the Riel.
      As for rent. I have not been away when the bill is due, but if I knew that I would be away at that time, I would talk to my landlord and see if they would want payment before I left or when I returned. My landlords here have all been great, so that open communication would be easy enough to work out something with them.

    • @5ayes12
      @5ayes12 3 месяца назад +1

      @@FrugalWanderer Cheers thanks for the reply I am actually trying to go back to cash as much as possible living in Vancouver's Chinatown the small businesses prefer cash versus paying the 'man' 2-5% for electronic convenience.

  • @PeterC245
    @PeterC245 3 месяца назад +1

    A can assure you , opening a bank account in Thailand , is a very different process , multiple documents , different requirements between different banks ,
    And on the day, it can just come down to the staff , weather they want to assist or not
    Peter ,

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +1

      I looked into it when I was there and quickly gave up. Haha

  • @derekedwards1982
    @derekedwards1982 3 месяца назад +1

    Excellent and clear advice.
    Seems even passap accept qr payments lol
    Many thanks 😊

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +1

      I'm glad it was helpful. I have another update coming up soon.

  • @l.sastle6510
    @l.sastle6510 3 месяца назад +1

    Thanks for all your great info. One question. I thought they also needed a proof of residence certificate [house rental contract/certificate of residential address/or hotel bill] showing a minimum of 6 months tenor in the contract? Or that wasn't your experience?

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад

      They wanted my address. I didn't need to show anything more than that. They mostly just needed to see the 1 year visa extension.

    • @l.sastle6510
      @l.sastle6510 3 месяца назад

      @@FrugalWanderer Very Good. Thanks Sean.

  • @kurtnigbor7165
    @kurtnigbor7165 3 месяца назад +2

    Just joined. Could you do a video about obtaining a phone number if you haven’t already? Or how you dealt with the phone issue. Thanks!

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +1

      Sure thing. It's not a difficult process here at all. I'll get a video up on that this week n

    • @kurtnigbor7165
      @kurtnigbor7165 3 месяца назад +1

      @@FrugalWanderer thank you sir!! Much appreciated.

    • @Dondino99
      @Dondino99 2 месяца назад

      You couldn’t use a SIM card ?

  • @wow888888able
    @wow888888able 3 месяца назад +1

    Do you need to download QR code app do you can read QR codes ? What is the minimum amount for ABA? I think there some restrictions if you leave the country for certain time. You must close the account… great bank…

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +1

      The ABA banking app has a QR code reader built inot it. You just scan the code, type in the amount of the purchase then process the payment. They receive confirmation on their end right away. I do not know what the minimum would be, I plan on leaving a constant balance in it even when travelling and if I need to close it because I am moving away, then I will deal with that when I get to it. So far I have no ccmplaints with the system or services offered with the bank

  • @flighteye6642
    @flighteye6642 3 месяца назад +1

    with Canadian banks, I think you don't need a Canadian phone# for 2factor ID if you use a bank app on your phone, for example TD Bank app. Have you tried installing and using a Canadian bank app on your new phone without problem?

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад

      I did not transfer any accounts to the new phone. All I use it for is as a hotspot for livestreams. I even set up a specific Google account just for it.
      My regular phone is fine as long as I am not livestreaming or watching a lot of content. So for general use it's ok and that's fine with me.
      If I ever need to have access to a Canadian phone number, I can just use the one I got with Fongo. It's an app that gives you a local Canadian number for free. You can pay extra and get texting with it, so if I am ever on need of a Canadian number then I can use that.

  • @daveh5947
    @daveh5947 3 месяца назад +3

    Yes the QR Code is part of BRICS, so the QR Code should work in ASEAN Countries if you visit any of them.
    If you're at the Bank again you should ask if you can use your QR in other Countries.

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +2

      I will check on this. I have heard that it works in Thailand and Vietnam, but I have not heard directly from the bank. I will check with them before I head out to Vietnam next month.

    • @daveh5947
      @daveh5947 3 месяца назад

      ​@@FrugalWanderer
      Am interested in what they say as it cuts out Bank Fees each time especially if moving around Countries.

  • @grahamthompson2594
    @grahamthompson2594 3 месяца назад +1

    Keep up with the constant updates on the ABA app. I transfer money from my Australian bank, takes a couple of days.

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад

      I do keep it updated. I had an issue the other day where the app updated on my end, but the agent at the cellcard store hadn't updated theirs yet and they did not see the funds until they did. It wasn't a big deal to me. It just took a minute. So because of that, I'm going to keep my up to date all the time. Haha

    • @grahamthompson2594
      @grahamthompson2594 3 месяца назад +1

      @@FrugalWanderer 2 updates ago was a lemon, the app kept cutting out. But they fixed it in a couple of days.

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад

      @@grahamthompson2594 good to know that they are on top of it when things go sideways. Haha

  • @frogit59
    @frogit59 3 месяца назад +1

    ty sean good vid.national bank of Canada took control of them in 2019. please lets us know when you find out if you can transfer form canada

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад

      I haven't tried yet. I have to call my bank back home, and you may understand why I'm not excited about having to sit on hold and wade through the menu system to talk to a person. Haha if I was to do this again, I would just open an account with the national bank before coming over here. Haha. No big deal though. I can just as easily use the ATM machine to withdraw money and then at the same machine, deposit it into my Cambodian account. Which is pro bay the route I will take.

  • @dominiquetheeasyminimalist
    @dominiquetheeasyminimalist 3 месяца назад +1

    It's National Bank, but they won't do anything because although they own ABA, it's a different company and legislation. Also, you wouldn't be able to open a Canadian bank account from abroad, it needs to be done while you're a resident. Does the ABA QR give you a choice to pay in USD or riels? I guess you'll find out soon!

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +1

      Yeah. I did some looking into which bank it was when I got home. I have an account in Canada but it's not with the national bank so I'm not going to worry about it.
      The app will allow you to choose which account you can pay from, but what I found out yesterday is that the establishment can have different QR codes for either the dollar or the Riel.
      I was trying to buy my breakfast yesterday and I scanned the wrong one and I was trying to figure out how to change from the dollar to the Riel. All I needed to do was scan the other code.
      Now I know for later. Haha

  • @anonymous2895
    @anonymous2895 2 месяца назад +1

    Thanks! Minimum 6 months visa - Can it be a Tourist Visa or must be a Business Visa? Which do you have?

    • @FrugalWanderer
      @FrugalWanderer  2 месяца назад

      The bank requires a visa that is a minimum of six months long. Tourist visas will not work because they are only for a month at a time. There may be other options other than the business or the retirement visa like I have but I never looked into the other options. There may be an education one that is longer. I hope this helps

  • @andrewmoore6292
    @andrewmoore6292 3 месяца назад +1

    Sean did you buy a phone when you got there or did you bring your phone from can. And just got a sim. I heard that there is a problem with sim swapping when you buy a SIM card ?🌼

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад

      I brought my phone with me from Canada. It is an unlocked phone that I did not have associated with any carrier back home. So sim swapping wasn't an issue for me at all.
      That being said, I also bought a phone here because my phone from home would get really warm when I used it for my livestreams.

  • @tima1359
    @tima1359 2 месяца назад +1

    Hi - just wondering about proof of address ? I am currently in Kampot and Acleda want a certificate from the local Sangkat showing proof of address. Thailand is the same - to open an account you need a residence certificate from immigration. So in your case, no address required ?

    • @FrugalWanderer
      @FrugalWanderer  2 месяца назад +1

      I had a copy of my lease with me when I went to the bank but ABA did not ask for any proof of address from me. What the requirements are from other banks or branches, I do not know. I can only speak for my own experiences. Good Luck

    • @tima1359
      @tima1359 2 месяца назад +1

      @FrugalWanderer - thanks for getting back to me. Yes different banks, different rules. Cheers

  • @12rmoreau
    @12rmoreau 3 месяца назад +1

    It's National Bank

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад

      Thank you. I knew it was one of the ones I don't have an account with. Haha

    • @12rmoreau
      @12rmoreau 3 месяца назад +1

      Few people do lol

  • @sokpisethlalalanno
    @sokpisethlalalanno 3 месяца назад +1

    Frugal, In Vancouver, What's bank do they use the most ?

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад

      I have no idea. I haven't been to Vancouver in over 50 years.

  • @gmm5550
    @gmm5550 3 месяца назад +2

    Congrats Sean, you are now officially a real expat all in. AND over 1000 subs now to..damn im happy i followed your journey from start =)
    My thaibank have a similar system with the app and qr-code and sms alert if somebody tries to scam/withdraw money..Very easy and secure and i do have a visa card to for atm.

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +1

      Thank you for being along with me for so long on my journey.
      I'm really impressed with how good the banking app is. It's easy to use, even for me. Haha

    • @gmm5550
      @gmm5550 3 месяца назад +2

      @@FrugalWanderer Its funny i have friends in Usa that still uses paper cheques with the bank and rent and stuff like that..as a swede i haven't seen a paper check since 1999 or a paper bill since 2010 ..and now when i are in sweden i notice that..nobody uses cash..NOBODY!! some stores dont even accept cash=)
      Most of Europe and Se-asia is way before Usa in digitalisation, internet mobile use and all that and prices for internet to.

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +1

      @@gmm5550 back home everything is tap to pay, which I hated. I never liked the idea of a payment system that you cannot control a little bit. I disabled it on all my accounts on purpose. The QR code is easy and I still have control over the process. To me this makes more sense. Things seem so backwards back home to me now. Haha

    • @gmm5550
      @gmm5550 3 месяца назад +2

      @@FrugalWanderer be sure to activate all the safety features on the app..my thai bank sends mail and sms on every transition even when i take out cash with the visa card and the bankapps in the phone cant be accessed without fingerprint and 6 digit pincode they are locked out

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +1

      Already done. It was the first thing I did. Haha

  • @franclyspeaking
    @franclyspeaking 3 месяца назад +1

    Just another tick on becoming a fully fledged Cambodian!
    If you didn’t choose ABA what would have been the second bank you would have used?
    I’m not sure if you mentioned this but do they send out or give you a physical debit card as part of the opening of the account?

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад

      I didn't even consider any other banks to be honest. The fact that it has ties to a Canadian bank and I saw the QR code for payment everywhere, it was the one that made the most sense for me.
      No bank card when opening. I can get one if I want. I will order one this week to see how that process goes. It's always nice to have a backup as well.

    • @franclyspeaking
      @franclyspeaking 3 месяца назад +1

      @@FrugalWanderer Fair enough my man. Wonder if a bank card is even really needed in Cambodia, but i'm sure we'll find out soon enough!

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +1

      @@franclyspeaking I wonder if a business account is any different. Hmm.

    • @franclyspeaking
      @franclyspeaking 3 месяца назад +1

      @@FrugalWanderer I'm sure we will soon find out

  • @KB3TLE
    @KB3TLE 2 месяца назад +1

    What is the big advantage of having a bank account (?) actually '''in''' Cambodia ? -- Isn't it a "cash society" ? -- I thought all the people there just wanted - cash ? - - - Or is this just for transfer from your home bank ? -- I thought like western union or remitly - would do - to yourself ? -- -- -- " I don't know "..........?

    • @FrugalWanderer
      @FrugalWanderer  2 месяца назад +1

      I got it for convenience. Everyone here uses the QR code for payment. It's way easier than having to carry cash on you all the time. The payments are an instant transfer to their account.
      I prefer it myself because I don't have to mess with the cash or trying to figure out if I have the right bill. Especially when the price is in US dollars and they are converting to Riel. This way I just scan. Enter the amount. And pay. I still carry cash for the instances where I need to pay that way.
      I don't transfer cash from my bank home. I just use the ATM to do a withdrawal, and then I deposit it immediately into this account. That way I don't have to worry about carrying cash on me all the time.

    • @KB3TLE
      @KB3TLE 2 месяца назад +1

      @@FrugalWanderer What is the limit the ATM will allow you to get ? (USD) I would want at least $500 at a time - and put that in their bank. -?-

    • @FrugalWanderer
      @FrugalWanderer  2 месяца назад

      It depends on the ATM, but the ones I used at ABA have that as one of their defaults and you can even take out more. I have done that in the past myself when I had a bunch of bills to pay all at once.

  • @wneighbor2523
    @wneighbor2523 3 месяца назад +1

    Easy peasy…

  • @jasguy2715
    @jasguy2715 3 месяца назад +1

    Do the banks ask for your U.S. Social Security #?

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +1

      No. They only required my passport. No other identification was needed for my account. I'm Canadian so I wouldn't have been able to give them one if they asked. Haha

    • @jasguy2715
      @jasguy2715 3 месяца назад

      @@FrugalWanderer thank you for your reply. I lived in the Philippines for 16 years the banks over there wouldn't open up an account unless you gave your Social Security number. United States demanded that American citizens supply Social Security numbers so they can take more of our money and find out where we keep it.

  • @sokpisethlalalanno
    @sokpisethlalalanno 3 месяца назад +1

    So I heard that ABA bank is your country bank Frugal, Well that is kinda open the way for Vancouver people to live there 😂🤣

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад

      Well, a Canadian bank is invested with ABA. I wouldn't call it mine. Haha

  • @Driver2724
    @Driver2724 3 месяца назад +1

    Hi Sean do you ask them if you can do direct deposit from social security administration to international combodia Bank like ABA??

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад

      I am not on CPP or social security, so it's not something I need to worry about for a few more years. That seems to be something you would need to discuss with social security to see if they are ok with depositing directly into a foreign bank. I personally don't know. Sorry.

    • @MichaelDuignan-p2c
      @MichaelDuignan-p2c 3 месяца назад +1

      @@FrugalWanderer Well , you've formed solid spending habits early so when That tidal wave of cash finally comes you'll be Rolling .

  • @merlemcgonigal-hm1wv
    @merlemcgonigal-hm1wv 3 месяца назад +2

    Did you have to take your hat off ?

    • @merlemcgonigal-hm1wv
      @merlemcgonigal-hm1wv 3 месяца назад +1

      You didn’t need a reil account at all , you can pay anything with dollars , you’ll just pay more for that account , and just keep some reil in your pockets , dont sweat the small stuff 😉😉 it’s really bad When you die they keep all your money here

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +1

      Yes. When you enter the bank they have signs up showing no hats or sunglasses. So I take both off when I enter their establishment. I do the same with any official building I enter. Even back home, so it wasn't a big deal to me. Haha

    • @FrugalWanderer
      @FrugalWanderer  3 месяца назад +1

      @@merlemcgonigal-hm1wv I got both for my own peace of mind. That way I can just pay in the correct currency and not have to worry about doing any conversions in my head.
      As for them keeping the money if I pass away, I am not worried about that at all. It's not going to have a ton of money in it and is only so I have spending money on hand. Plus if I'm gone, then I have no worries regardless. Haha

    • @merlemcgonigal-hm1wv
      @merlemcgonigal-hm1wv 3 месяца назад +1

      You can withdraw or pay in reil with a dollar account .. for me that’s peace of mind than paying them for a useless fee bearing account i don’t need

    • @merlemcgonigal-hm1wv
      @merlemcgonigal-hm1wv 3 месяца назад +1

      @@FrugalWanderer where does all your money come from ? I am changing to an other bank very soon for my dependent here can have the $$ when I die. Now the ABA bank keeps it all - no wonder they are all over every where you go .. they nickel and dime ( and looney ) you to death ! 💀 I will keep the ABA for what it’s worth but they will always keep money for them even if you close it !