Whether you’re moving to Cambodia for work, investing in property, or planning a long-term stay, opening a local bank account is one of the first and most important steps you should take. Cambodia’s banking system is one of Southeast Asia’s most accessible for foreigners, thanks to its dollarized economy, modern digital payment infrastructure, and expat‑friendly policies.
This guide covers everything you need to know: the top banks, step‑by‑step account opening, digital payments (KHQR and Bakong), fees, security, and frequently asked questions. All information is updated for 2026.
⚡ Quick Overview: Cambodia’s Banking System
Cambodia operates a dual‑currency system where the US dollar (USD) and Cambodian riel (KHR) circulate side by side. The USD is the de facto currency for all major transactions — rent, salaries, restaurants, and even ATMs dispense USD. The riel is used only for small change (1 USD ≈ 4,100 KHR).
Key features of Cambodia’s banking system include:
- No capital controls – you can freely transfer money in and out of the country.
- Modern mobile banking – all major banks offer advanced apps for transfers, bill payments, and QR payments.
- KHQR national payment standard – a single QR code works across all participating banks.
- No deposit insurance (yet) – a deposit protection scheme is being designed, but not yet in effect.
🏦 Top Banks in Cambodia for Foreigners
Most international residents choose one of the following five banks, each offering USD accounts, English‑language support, and robust digital banking. The five largest commercial banks — ABA, ACLEDA, Canadia, FTB, and Maybank — collectively account for more than half of the banking assets and customer deposits in the country.
📱 ABA Bank (Advanced Bank of Asia)
Best for: Digital banking, expat convenience, and all‑in‑one mobile app.
ABA Bank has been named Best Bank in Cambodia by Euromoney for five consecutive years. It is a subsidiary of the National Bank of Canada, offering international standards and robust cybersecurity. ABA Mobile is widely considered the leading smartphone banking app in the country, allowing instant account opening, international transfers, virtual cards, bill payments, and loans without commission. ABA also offers a 1‑year Fixed Deposit account with free life and accident insurance from Manulife Cambodia (capped at USD 50,000).
🏛️ ACLEDA Bank
Best for: Rural coverage, stability, and large branch network.
ACLEDA is one of Cambodia’s largest banks, with more than 230 branches nationwide — nearly anywhere you want to go. By the end of December 2025, ACLEDA had US$11.8 billion in total assets and over 6.19 million customers. The ACLEDA Super App offers integrated cross‑border payments via Mastercard Move to countries including Vietnam, China, India, Japan, South Korea, the UK, and Europe. The bank also offers online bill payment to utility companies and mobile carriers.
🇰🇭 Canadia Bank
Best for: Local presence, retail banking, and fee‑free ATM withdrawals for certain cards.
Established in 1991, Canadia Bank is a leading local full‑service commercial bank. It has been recognized as Best Retail Bank in Cambodia by The Asian Banker. Canadia offers fee‑free withdrawals from its ATMs for some international cards, making it a practical choice for frequent cash access. The bank has nearly 40 branches with 50 ATMs across the country and offers current accounts in USD, KHR, and Thai baht with a minimum deposit of USD 200.
🏢 Foreign Trade Bank of Cambodia (FTB)
Best for: Online account opening and competitive fixed deposit rates.
FTB now offers online account opening for individuals, allowing you to start the process remotely. Savings accounts earn 0.75% interest (USD) or 1.00% (KHR) with a minimum balance of USD 50. FTB is a solid choice for those who prefer to handle most banking online before arriving in Cambodia.
🌏 Maybank Cambodia
Best for: Regional connectivity and multi‑currency accounts.
As part of the Malaysian Maybank Group, this bank is ideal for those who travel frequently within ASEAN. It offers seamless cross‑border banking, competitive remittance rates, and integration with the KHQR system for regional payments.
📊 Bank Comparison Table
| Bank | Best For | Mobile App | Minimum Deposit (USD) | Key Feature |
|---|---|---|---|---|
| ABA Bank | Digital banking, expats | ⭐⭐⭐⭐⭐ | $10–50 | Online account opening, virtual cards, free local transfers |
| ACLEDA Bank | Rural coverage, stability | ⭐⭐⭐⭐ | $1,000 | Large branch network, cross‑border transfers via Mastercard Move |
| Canadia Bank | Local presence, retail | ⭐⭐⭐ | $200 | Fee‑free ATM withdrawals for some international cards |
| FTB | Online opening, fixed deposits | ⭐⭐⭐ | $50 (savings) | Competitive fixed deposit rates |
| Maybank | Regional connectivity | ⭐⭐⭐⭐ | Varies | ASEAN integration, multi‑currency accounts |
📝 How to Open a Bank Account in Cambodia (Step‑by‑Step)
Opening a bank account as a foreigner is straightforward and typically takes 20–40 minutes at a branch if you have the correct documents.
✅ Required Documents
- Passport (valid)
- Valid visa – long‑stay visa (EB or equivalent) is required. It is no longer possible to open a bank account as a tourist
- Local phone number – for OTPs and mobile banking setup
- Local address – a hotel or temporary residence is often accepted
- Employment letter or lease agreement – some banks may request this
- Minimum deposit – typically $10–$50 for ABA, $200 for Canadia, $1,000 for ACLEDA
🏛️ At the Branch
- Visit a branch of your chosen bank with your passport, visa, and supporting documents.
- Complete the application form (available in English).
- Provide your signature specimen.
- Have your photo taken for their records.
- Make your minimum deposit to activate the account.
- Receive your ATM card immediately or within 1–2 business days.
💻 Online Account Opening (ABA & FTB)
ABA Bank offers online account opening via join.ababank.com for savings, current, or term deposit accounts. After submitting the online application, you will need to visit a branch to activate the account. FTB also offers a similar online account opening service for individuals.
📱 Digital Payments: KHQR & Bakong
Cambodia has leapfrogged traditional banking and moved directly to a world‑class digital payment ecosystem. The KHQR system, launched by the National Bank of Cambodia in July 2022, standardizes mobile payments across all participating banks.
How it works: Merchants display a single KHQR code. Customers can scan that code using any participating bank’s mobile app (ABA Mobile, ACLEDA Super App, Bakong app, etc.) to make instant payments directly from their account. More than 150,000 ABA merchants already accept KHQR payments.
Cross‑border connectivity is expanding rapidly:
- Singapore – full interoperability of cross‑border QR payments completed in March 2026
- Malaysia – phase one allows Cambodian visitors to pay at over 2 million Malaysian merchants
- Laos – second phase launched April 2026, allowing Lao travelers to pay in kip
- India – KHQR‑UPI linkage will allow Indian tourists to pay at 4.5 million KHQR merchant points in Cambodia (launching second half of 2026)
- Alipay+ – NBC has partnered with Ant International to connect KHQR with Alipay+’s global merchant network
For tourists: The Bakong Tourists app allows visitors to load money, scan KHQR codes, and pay without a Cambodian bank account.
💰 Fees & Charges
Understanding bank fees helps you avoid unexpected costs. Below are typical charges:
| Fee Type | Typical Cost | Notes |
|---|---|---|
| ATM withdrawal (foreign card) | $6–7 per transaction | Canadia Bank offers fee‑free withdrawals for some international cards[reference:34] |
| International wire transfer (outgoing) | 0.2% + $20 cable fee (minimum $5) | Varies by bank[reference:35] |
| Monthly maintenance fee | $0 for most basic accounts | Always confirm with your bank |
| Account closure (if opened less than 6 months) | $5–10 | FTB charges $5[reference:36] |
| Dormancy fee | $5 after prolonged inactivity | FTB charges $5[reference:37] |
🔒 Security & Deposit Insurance
Cambodia is one of the few countries in ASEAN+3 that does not yet have a deposit protection scheme (DPS). The National Bank of Cambodia and the Ministry of Economy and Finance are currently designing a deposit insurance framework, but it has not yet been implemented.
What this means for you: If a bank fails, recovery of deposits is uncertain. To mitigate risk, stick to the largest, most stable banks — ABA, ACLEDA, Canadia — which have the largest capital bases and strongest regulatory oversight[reference:40]. It is also prudent to keep most of your long‑term savings in your home‑country bank.
On a positive note, ABA offers a unique product: opening a 1‑year Fixed Deposit account provides free life and accident insurance from Manulife Cambodia, covering up to the deposit amount (capped at USD 50,000).
❓ Frequently Asked Questions
Can a foreigner open a bank account in Cambodia without a long‑stay visa?
No. Most banks require a valid long‑stay visa (EB or equivalent). Tourist visas are generally not accepted.
What is the easiest bank for an expat to open an account with?
ABA Bank is widely considered the easiest and most convenient for expats, with online account opening and an excellent English‑language mobile app.
How long does it take to open an account?
At a branch: 20–40 minutes if documents are ready. Online applications require a subsequent branch visit for activation.
Is my money safe in a Cambodian bank?
For daily expenses and salary, yes. However, Cambodia currently has no deposit insurance. Keep long‑term savings in larger, more established banks or in your home country.
Can I use my Cambodian bank account abroad?
Yes. Most banks issue Visa or Mastercard debit cards that work internationally. ACLEDA’s new Mastercard Debit Card in Khmer Riel allows worldwide cash withdrawals and payments.
What is KHQR and do I need it?
KHQR is Cambodia’s national QR payment standard. You do not need to do anything special — it is built into your bank’s mobile app. Simply scan the merchant’s QR code to pay.
How much can I withdraw from an ATM daily?
Daily limits typically range from $500 to $1,000, depending on the bank and account type.
🔗 Related Guides
- How to Start a Business in Cambodia as a Foreigner (2026 Legal Guide)
- Step‑by‑Step: How to Register a Company in Cambodia (2026)
- How to Open a Bank Account in Cambodia as a Foreigner (2026)
- Loan Interest Simulator
- Monthly Tax Calculator (Salary)
📢 Disclaimer
Bank policies, fees, and interest rates may change without notice. This guide is based on information available in April 2026. Always verify with the bank’s official website or a branch before making financial decisions. ORKUN SANTEPHEAP is not a financial advisor and does not provide financial advice.
🎯 Final Thoughts
Opening a bank account in Cambodia is straightforward and unlocks access to one of Southeast Asia’s most modern digital payment ecosystems. Whether you choose ABA for its all‑in‑one mobile app, ACLEDA for its rural reach, or Canadia for its local trust, you will find the process expat‑friendly and efficient. The combination of a dollarized economy, KHQR payments, and expanding cross‑border QR connectivity makes managing your finances in Cambodia easier than ever.
Just remember: keep long‑term savings diversified, stay aware of the lack of deposit insurance, and enjoy the convenience of paying for everything from street food to rent with a simple QR scan.
