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

  • South Korea’s first lady brings hope to ill boy

    South Korea’s first lady Kim Keon-hee – wife of current president of the Republic of Korea, Yoon Suk Yeol – met with a 14-year-boy with congenital heart disease during her trip to the Kingdom for the ASEAN Summit. After their meeting it was announced that the

  • Hun Sen gets Covid, shuns G20, APEC summits

    Prime Minister Hun Sen said he has tested positive for Covid-19 in Indonesia, where he is slated to attend the G20 summit in his capacity of the ASEAN chair. In a social media post addressing the Cambodian public, he said: “Before leaving Cambodia, I always

  • Moody’s sets outlook rating to ‘negative’ for Cambodia

    US global rating agency Moody’s Investors Service Inc on November 15 announced that it downgraded Cambodia’s outlook from “stable” to “negative” and maintained its B2 local and foreign currency issuer ratings. “The negative outlook reflects a deteriorating external position as illustrated by the severe

  • Korean first lady paves way for ill boy’s surgery

    A 14-year-old boy with congenital heart disease who was lucky enough to meet with South Korean first lady Kim Keon-hee may get the chance of a lifetime and receive surgery and treatment at Asan Medical Center in Seoul, South Korea. After seeing his plight, many

  • Hun Sen’s Covid infection caused by ‘weakened antibody’ after summit

    Prime Minister Hun Sen said exhaustion from heavy workload before and during the recent ASEAN Summit may have led to him contracting Covid-19 due to his weakened immune system, while rejecting speculations that the infection was caused by leaders of some countries who did not

  • Kingdom’s rice crowned world’s No1

    Cambodia’s Phka Rumduol jasmine variety has been crowned the World’s Best Rice for the fifth time at the TRT (The Rice Trader) World Rice Conference in Phuket, Thailand on November 17, according to leaders of the Kingdom’s apex rice industry body. Phka Rumduol