Chequepoint International Ltd., the world's largest privately owned currency exchange
service, began operating in Phnom Penh on May 21.
The company provides customers with services including cash advances on major credit
cards, buying and selling of travelers checks, check cashing and money transfers.
Regional manager Adam Duranni said he expects there will be a growing demand for
such financial services from tourists and businessmen as Cambodia develops.
"Though we go slowly now, we are looking for a long term activity, as long as
possible ...we will make Cambodia fashionable as we think it will become a tourist
center in the future," explained Duranni.
In Phnom Penh, services are available six hours a day, seven days a week.
Chequepoint operates within a buying and selling range of two to five percent, while
the commission is set at one to nine percent, depending on the transaction size.
The exchange rate for local and foreign currencies is based on the market rate.
The service charge for money transfers is two percent.