Logo of Phnom Penh Post newspaper Phnom Penh Post - ATM scam: Limit lower at ACLEDA Bank ATMs

ATM scam: Limit lower at ACLEDA Bank ATMs

ATM scam: Limit lower at ACLEDA Bank ATMs

ACLEDA Bank is halving the limit on the size of some withdrawals from its ATMs to US$500 per day in response to recent large cash transactions from some Vietnamese card holders, according to ACLEDA Executive Vice President So Phonnary.

Cardholders from Vietnam’s Techombank have been crossing into the Kingdom and withdrawing large amounts of US dollars.

They are taking advantage of the difference between the official exchange rate for the Vietnamese dong, and unofficial exchange rate offered in Cambodia and on the black market in their country.

The process has been a “bother” for ACLEDA, but has been manageable, according to So Phonnary.

ACLEDA President In Channy said the National Bank of Cambodia had advised the firm about the withdrawals, but added that the actions by individual Techombank cardholders were not strictly illegal.

MOST VIEWED

  • ‘Kingdom one of safest to visit in Covid-19 era’

    The Ministry of Tourism on January 12 proclaimed Cambodia as one of the safest countries to visit in light of the Kingdom having been ranked number one in the world by the Senegalese Economic Prospective Bureau for its success in handling the Covid-19 pandemic. In rankings

  • Ministry mulls ASEAN+3 travel bubble

    The Ministry of Tourism plans to launch a travel bubble allowing transit between Cambodia and 12 other regional countries in a bid to resuscitate the tourism sector amid crushing impact of the ongoing spread of Covid-19, Ministry of Tourism spokesman Top Sopheak told The Post on

  • Kingdom accepts Chinese vaccine, PM first to get jab

    Prime Minister Hun Sen said China would offer Cambodia an immediate donation of one million doses of the Covid-19 vaccine produced by the Sinopharm company. In an audio message addressing the public on the night of January 15, he said Cambodia has accepted the offer and

  • Reeling in Cambodia’s real estate sector

    A new norm sets the scene but risks continue to play out in the background A cold wind sweeps through the streets of Boeung Trabek on an early January morning as buyers and traders engage in commerce under bright blue skies. From a distance, the

  • PM asks India for vaccine help

    Prime Minister Hun Sen is seeking assistance from India for the provision of Covid-19 vaccines as the country has produced its own vaccine which is scheduled to be rolled out to more than 300 million Indians this year. The request was made during his meeting with

  • Capital set to beef up security

    Phnom Penh municipal governor Khuong Sreng held the first meeting of the year with heads of armed forces in the capital to review and repair the deficiencies related to gun control, drug crimes, social order disruptions due to alcohol consumption and traffic law enforcement. Municipal