Subscribe Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Bank of China launches dual currency ATM card

Bank of China launches dual currency ATM card

Bank of China launches dual currency ATM card

Bank of China’s Yang Hua, first vice president and head of Bank of China’s personal banking department in Cambodia. Photograph: Stuart Alan Becker/Phnom Penh Post

The Bank of China launched the first dual currency international bank card yesterday, part of a move to expand in the local market by offering both US dollar and Renminbi accounts on a single card.

People can get the card for a deposit of US$10 at the Bank of China office.

BOC’s Cambodia CEO Chen Changjiang expressed optimism about Cambodia’s future, citing the bank’s growth to 5,600 customers and $350 million in deposits since it opened in Cambodia in 2010.

BOC’s banking department first vice president Yang Hua said the card could be used at ATMs all over the world at no charge and with dual currencies; the card would automatically revert to the other currency if one wasn’t enough to cover a charge.

“We are very positive about the Cambodian market,” CEO Chen said. “China is Cambodia’s biggest investor; investing a lot in electric power, agriculture, the garment sector and infrastructure. For business between Cambodia and China, this card is the first choice,” he said.

Chen said BOC had the advantage of large capital reserves making it easy to get money from overseas and help local companies grow.

To contact the reporter on this story: Stuart Alan Becker at [email protected]


  • Australians protest Asean summit visit by PM Hun Sen

    Hundreds of protesters gathered in Sydney’s Hyde Park on Friday to protest against Cambodian strongman Hun Sen, who claimed to have been gifted millions of dollars by the Australian government ahead of a special Asean summit this weekend. An estimated 300 protesters, the majority of

  • American ‘fugitive’ arrested in Cambodia outside of US Embassy

    An American citizen was arrested on request by the US Embassy in Phnom Penh on Tuesday, according to Cambodian police. Major General Uk Hei Sela, chief of investigations at the Department of Immigration, identified the man as American Jan Sterling Hagen, and said he was

  • One Australian, one Cambodian killed in explosion at military base

    Updated: 5:20pm, Friday 16 March 2018 An Australian tourist and a Cambodian soldier were killed in an explosion on Thursday afternoon at an army base in Cambodia’s Kampong Speu province. The Australian, whom the government initially identified as a technical demining expert in his 40s, and

  • Peeling back layers of prehistory in Battambang

    When the man passed away, he had not yet reached 50. He belonged to a tribe that had settled near the Sangker River in Battambang province, likely cultivating the fields and raising animals. On the side, they hunted for boars, and even turtles, one of which