Cambodia runs on US dollars. This is the first and most important thing to understand about money here, and the thing that makes the transition easier than most people anticipate. There is no currency exchange to think about when you arrive. Your rent is quoted in dollars. Your restaurant bill is in dollars. The change for anything under a dollar arrives in Cambodian riel at a fixed rate of 4,000 riel to one dollar, which you will accumulate in small denominations and use for tuk-tuks and market stalls and that is fine.

The riel exists alongside the dollar rather than replacing it. You will need both. But the dollar dominates, and if you are arriving from the Gulf or Europe or North America, you will find the currency situation considerably more legible than in most Southeast Asian countries.

Which bank: the short answer

ABA Bank. Backed by the National Bank of Canada, ABA is Cambodia’s largest commercial bank by assets, deposits, and profitability. It has branches in Kampot town and in the Kampong Trach District east of town. Its ATM network is the most extensive in the country. Its mobile app is the most capable. Its staff speak good English. It is the clear first choice for almost every expat in Cambodia.

The competitors worth knowing: Canadia Bank and ACLEDA Bank both have branches in Kampot and are solid alternatives if ABA presents difficulties. Canadia has a reputation for being slightly more flexible on documentation requirements than ABA. ACLEDA has the widest branch and ATM network in rural Cambodia, useful if you travel outside the main towns frequently. But for most people living in Kampot, ABA handles everything they need and the app does it without requiring a branch visit.

One institution to know about for a specific purpose: BRED Bank (a French institution) has ATMs in major Cambodian cities with the lowest withdrawal fee for foreign cards — $4 per withdrawal with a $2,000 limit. BRED does not have a branch in Kampot but is worth using when you are in Phnom Penh if you need to withdraw cash on a foreign card.

Opening an account: what you need and what to expect

The requirements to open an account at ABA or any major Cambodian bank are straightforward but specific. As of 2025-26, the standard documents are:

  • Valid passport
  • Visa extension with at least 6 months remaining validity (so a tourist visa won’t work — you need an EB or other long-stay extension in place first)
  • Proof of residence — a rental contract in your name, or a hotel/guesthouse bill showing a stay of at least 6 months duration. A landlord can often also provide a formal residence letter.
  • Proof of employment or self-employment — an employment contract, a letter from your employer, or a business registration certificate if you are self-employed

The 6-month visa requirement is the one that catches people. If you arrive on a fresh entry with 30 days on your initial E-class visa, you cannot open an account immediately. You need to complete your first EB extension, which gives you 1, 3, 6, or 12 months, before the bank will accept the application. Most people use their first month to sort accommodation, then open the account once the EB extension is in hand.

Processing time: account opening is typically done in a single branch visit, with the account active the same day and the debit card issued within a few days. ABA also allows account opening via the ABA Mobile app, which requires uploading photographs of your documents — useful if the Phnom Penh branch is more convenient for your first application but you are living in Kampot.

Minimum balance: ABA requires a $20 minimum balance to keep the account active and avoid a dormancy fee. This is not onerous. Keep it in mind when you eventually leave Cambodia and close the account — or, like many departing expats, simply don’t bother closing it and leave the $20 in there.

The ABA app: why it matters more than the branch

Once your account is open, you will use the branch rarely and the app constantly. The ABA Mobile app is genuinely well-built by the standard of mobile banking apps anywhere, not just in Southeast Asia.

What you can do from it without visiting a branch: transfer money between ABA accounts (instant, free), pay via QR code at any merchant displaying a KHQR code, pay utility bills, top up mobile data, receive international transfers, and manage your card settings including temporarily freezing the card if needed.

The QR payment system is the element that surprises people most coming from countries where contactless payment is card-based. In Cambodia, the dominant cashless payment method is the phone, not the card. Merchants — from restaurants and supermarkets to many market stalls and even some tuk-tuk drivers — display a KHQR code. You open ABA Mobile, scan, confirm, and the money leaves your account. No card tap, no PIN. It is fast, it is free, and within a few weeks of arriving you will find yourself using cash primarily for small purchases where no QR code is displayed.

KHQR is the national standard, introduced in 2022, which means the same QR code works regardless of which Cambodian bank you use. If your friend has a Canadia Bank account and you have ABA, you can still transfer to each other via QR. The Bakong system — the National Bank of Cambodia’s payment infrastructure — sits underneath all of this and now supports cross-border QR payments to Singapore, Thailand, Vietnam, Laos, Japan, and Malaysia from your KHR account.

ATMs and fees: the landscape

ABA-to-ABA withdrawals are free. If you have an ABA account and use an ABA ATM, there is no withdrawal fee. Given that ABA has the densest ATM network in Cambodia — including machines in Kampot town — this is the situation most ABA account holders end up in most of the time.

Withdrawing on a foreign card: the fee varies by ATM. The range across Cambodian banks for foreign cards is $4–$8 per transaction. ABA’s fee for foreign cards has been reported inconsistently — some users report the advertised $4, others report $8. BRED Bank at $4 per withdrawal with a $2,000 limit is the best option in Phnom Penh if you are using a foreign card. In Kampot, the practical options are ABA and Canadia. The Canadia ATM in town charges around $5 per foreign card withdrawal.

The universal advice: once you have a local account, stop withdrawing on your foreign card entirely. The fee structure makes no sense once you have ABA PAY doing most of your spending for free.

Daily withdrawal limits: ABA’s default limits depend on the card type. Standard ATM cards are typically set lower than Visa debit cards. If you find the limit too low for your needs, visit a branch and ask to have it raised — this is a common and routine request.

International transfers: getting money into Cambodia

Three approaches, each with different trade-offs.

Wise is the most-used option among expats for regular transfers from a home country account. It uses the real mid-market exchange rate, charges a transparent fee (typically 0.4–1% depending on currency), and transfers arrive in 1–2 business days to a USD account. Send from your home currency, receive in USD at ABA. It is simple, the app is clear, and the fees are honest. The one caveat: Wise has a free monthly withdrawal limit before it starts charging for ATM withdrawals — check your specific card’s terms for Cambodia.

Revolut works similarly and is a reasonable alternative for those who already use it. Currency exchange rates and fees are competitive. The same approach applies: send to your ABA USD account via the account details.

Direct bank transfer (SWIFT): slower (3–5 business days), more expensive (typically $15–35 in bank fees on top of exchange rate margins), and requires your ABA account’s SWIFT details. Used by people receiving salary payments from employers who don’t support Wise or Revolut, or for large one-time transfers where the relative fee is lower. Your ABA account details (SWIFT code: ABAAKHPP) are in the app under account information.

Western Union: ABA has a partnership with Western Union for cash pickup. Useful if you need to receive money from someone who is sending cash internationally and doesn’t have a bank transfer option, but not the preferred method for regular transfers due to fees and inconvenience.

QR payments and the cashless question

Kampot is not Phnom Penh in terms of QR payment adoption — the capital is ahead of the provinces on merchant coverage — but the town has moved noticeably in the past two years. Most restaurants, cafés, and larger shops now display a KHQR code. The market and the smallest street food stalls are still cash-only.

The practical answer for daily life in Kampot: keep $30–$50 in small bills in your wallet for cash-only situations (market stalls, tuk-tuks who haven’t set up QR, small purchases in the $1–$3 range), and use ABA PAY for everything else. You will find the balance between the two normalises quickly — most people arrive expecting to use more cash than they end up needing.

Small denomination bills: Cambodia lacks coins. Change below $1 is given in riel. Change between $1 and $5 requires small bills, which are occasionally hard to come by from ATMs that dispense $50 and $100 notes. Withdraw in amounts that produce smaller bills ($90 rather than $100, $190 rather than $200), ask for smaller denominations at the counter when possible, and use QR for transactions where you’d otherwise need change.

What to do before you have an account

The first few days after arrival, before you have an EB extension and before you can open a bank account: bring USD cash from your home country, use your home country debit card at ATMs with the awareness that fees will apply, and keep a Wise or Revolut card active for larger purchases. Most guesthouses and restaurants in Kampot accept Visa and Mastercard for direct payment, though sometimes with a 2–3% surcharge.

The practical sequencing most people follow: arrive with $500–$1,000 in cash, cover the first month on a mix of cash and home country card, complete the EB extension, open the ABA account, and transition to the local system from there. The transition takes about a month and is not painful.

Cambodia’s banking system is better than its reputation among people who haven’t recently lived here. The ABA app does more than the apps of many Western banks. The QR payment infrastructure is widespread and genuinely convenient. The USD economy removes the friction of currency exchange. The account opening process is bureaucratic but not difficult once you have the visa in order.

The hardest part is the timing — that first month before the EB extension is in hand, when you are running on cash and foreign cards and paying fees you would rather not. It is temporary. Get the extension, open the account, download the app, and the rest of it sorts itself out relatively quickly.