Currency in Cambodia

On Sat, 18 Sep 2004 14:26:33 -0700, comcast wrote:

Christ;
They charged only handling fee of 5-6 dollars max. I can understand
that the Cambodian banks have to pay their workers' salaries.

True, but that's not how the system works. You could walk into a bank
in New York City and take a cash advance and not be charged anything
by that bank. They have to pay their workers salaries too, and they
pay them a heck of a lot more than Cambodian bank employees get.

By the
way, my bank charges me nothing for using cash advance.

From a credit card? I'm surprised, but if so, its up to them. The deal
with Visa and Mastercard is based on reciprocity. Member banks are
supposed to issue cash advances without charge and then charge their
own customers when they use that service from other banks.

$5-$6 dollars
is very cheap to pay to withdraw 500-10000 dollars. Shop around for
your credit card bank.
They should not charge you for using cash advance other than compounded
interest.




It might be reasonable if that were the only fee being charged, but
its not. They shouldn't really be charging anything at all.

The agreement between all Visa and Mastercard issuing banks is that
the card issuing bank is the one to make the charges. The banks in
Cambodia (and a few other places) breach the agreement by charging for
issuing cash. That results in customers being charged twice, once in
Cambodia, and again by their bank at home. They want to have their
cake and eat it as well.

Chris

On Sat, 18 Sep 2004 14:26:33 -0700, comcast wrote:

Christ;
They charged only handling fee of 5-6 dollars max. I can understand
that the Cambodian banks have to pay their workers' salaries.

True, but that's not how the system works. You could walk into a bank
in New York City and take a cash advance and not be charged anything
by that bank. They have to pay their workers salaries too, and they
pay them a heck of a lot more than Cambodian bank employees get.

By the
way, my bank charges me nothing for using cash advance.

From a credit card? I'm surprised, but if so, its up to them. The deal
with Visa and Mastercard is based on reciprocity. Member banks are
supposed to issue cash advances without charge and then charge their
own customers when they use that service from other banks.

$5-$6 dollars
is very cheap to pay to withdraw 500-10000 dollars. Shop around for
your credit card bank.
They should not charge you for using cash advance other than compounded
interest.




It might be reasonable if that were the only fee being charged, but
its not. They shouldn't really be charging anything at all.

The agreement between all Visa and Mastercard issuing banks is that
the card issuing bank is the one to make the charges. The banks in
Cambodia (and a few other places) breach the agreement by charging for
issuing cash. That results in customers being charged twice, once in
Cambodia, and again by their bank at home. They want to have their
cake and eat it as well.

Chris

Chris Blunt wrote:
On Sat, 18 Sep 2004 14:26:33 -0700, comcast wrote:


Christ;
They charged only handling fee of 5-6 dollars max. I can understand
that the Cambodian banks have to pay their workers' salaries.


True, but that's not how the system works. You could walk into a bank
in New York City and take a cash advance and not be charged anything
by that bank. They have to pay their workers salaries too, and they
pay them a heck of a lot more than Cambodian bank employees get.
I do not know how the banking system works. But I am very happy that
some Cambodian banks charge only $5-$6 for cash advance. It is a small
fee for not carrying a large amount of cash. You cannot compare US
banking system to Cambodia. Most US banks make their profits from late
fees, ATM charges, credit card loans, and other loans (which they get
low interest money from our Federal Reserve)



By the
way, my bank charges me nothing for using cash advance.


From a credit card? I'm surprised, but if so, its up to them. The deal
with Visa and Mastercard is based on reciprocity. Member banks are
supposed to issue cash advances without charge and then charge their
own customers when they use that service from other banks.

That is why you should shop around for your VISA card.



$5-$6 dollars
is very cheap to pay to withdraw 500-10000 dollars. Shop around for
your credit card bank.
They should not charge you for using cash advance other than compounded
interest.




It might be reasonable if that were the only fee being charged, but
its not. They shouldn't really be charging anything at all.

The agreement between all Visa and Mastercard issuing banks is that
the card issuing bank is the one to make the charges. The banks in
Cambodia (and a few other places) breach the agreement by charging for
issuing cash. That results in customers being charged twice, once in
Cambodia, and again by their bank at home. They want to have their
cake and eat it as well.

Chris

Chris Blunt wrote:
On Sat, 18 Sep 2004 14:26:33 -0700, comcast wrote:


Christ;
They charged only handling fee of 5-6 dollars max. I can understand
that the Cambodian banks have to pay their workers' salaries.


True, but that's not how the system works. You could walk into a bank
in New York City and take a cash advance and not be charged anything
by that bank. They have to pay their workers salaries too, and they
pay them a heck of a lot more than Cambodian bank employees get.
I do not know how the banking system works. But I am very happy that
some Cambodian banks charge only $5-$6 for cash advance. It is a small
fee for not carrying a large amount of cash. You cannot compare US
banking system to Cambodia. Most US banks make their profits from late
fees, ATM charges, credit card loans, and other loans (which they get
low interest money from our Federal Reserve)



By the
way, my bank charges me nothing for using cash advance.


From a credit card? I'm surprised, but if so, its up to them. The deal
with Visa and Mastercard is based on reciprocity. Member banks are
supposed to issue cash advances without charge and then charge their
own customers when they use that service from other banks.

That is why you should shop around for your VISA card.



$5-$6 dollars
is very cheap to pay to withdraw 500-10000 dollars. Shop around for
your credit card bank.
They should not charge you for using cash advance other than compounded
interest.




It might be reasonable if that were the only fee being charged, but
its not. They shouldn't really be charging anything at all.

The agreement between all Visa and Mastercard issuing banks is that
the card issuing bank is the one to make the charges. The banks in
Cambodia (and a few other places) breach the agreement by charging for
issuing cash. That results in customers being charged twice, once in
Cambodia, and again by their bank at home. They want to have their
cake and eat it as well.

Chris

On Sun, 19 Sep 2004 02:22:18 -0700, comcast wrote:


Chris Blunt wrote:
On Sat, 18 Sep 2004 14:26:33 -0700, comcast wrote:


Christ;
They charged only handling fee of 5-6 dollars max. I can understand
that the Cambodian banks have to pay their workers' salaries.


True, but that's not how the system works. You could walk into a bank
in New York City and take a cash advance and not be charged anything
by that bank. They have to pay their workers salaries too, and they
pay them a heck of a lot more than Cambodian bank employees get.
I do not know how the banking system works. But I am very happy that
some Cambodian banks charge only $5-$6 for cash advance. It is a small
fee for not carrying a large amount of cash. You cannot compare US
banking system to Cambodia. Most US banks make their profits from late
fees, ATM charges, credit card loans, and other loans (which they get
low interest money from our Federal Reserve)

I compared it to the US because your justification was that Cambodian
banks had to pay their workers salaries, and US salaries are among the
highest in the world.

OK, if you prefer, compare it to similar economies such as Thailand,
the Philippines, Indonesia, all of which I have taken cash advances
from in the last few weeks and not been charged by banks there.

The Cambodian banks are simply not playing by the rules they agreed
to.


By the
way, my bank charges me nothing for using cash advance.


From a credit card? I'm surprised, but if so, its up to them. The deal
with Visa and Mastercard is based on reciprocity. Member banks are
supposed to issue cash advances without charge and then charge their
own customers when they use that service from other banks.

That is why you should shop around for your VISA card.

I do, but you've obviously done a better job at it than I did. My bank
charges me 1.25% for cash advances on a credit card. Out of interest
(no pun intended), which credit card do you have that charges nothing?

Chris

On Sun, 19 Sep 2004 02:22:18 -0700, comcast wrote:


Chris Blunt wrote:
On Sat, 18 Sep 2004 14:26:33 -0700, comcast wrote:


Christ;
They charged only handling fee of 5-6 dollars max. I can understand
that the Cambodian banks have to pay their workers' salaries.


True, but that's not how the system works. You could walk into a bank
in New York City and take a cash advance and not be charged anything
by that bank. They have to pay their workers salaries too, and they
pay them a heck of a lot more than Cambodian bank employees get.
I do not know how the banking system works. But I am very happy that
some Cambodian banks charge only $5-$6 for cash advance. It is a small
fee for not carrying a large amount of cash. You cannot compare US
banking system to Cambodia. Most US banks make their profits from late
fees, ATM charges, credit card loans, and other loans (which they get
low interest money from our Federal Reserve)

I compared it to the US because your justification was that Cambodian
banks had to pay their workers salaries, and US salaries are among the
highest in the world.

OK, if you prefer, compare it to similar economies such as Thailand,
the Philippines, Indonesia, all of which I have taken cash advances
from in the last few weeks and not been charged by banks there.

The Cambodian banks are simply not playing by the rules they agreed
to.


By the
way, my bank charges me nothing for using cash advance.


From a credit card? I'm surprised, but if so, its up to them. The deal
with Visa and Mastercard is based on reciprocity. Member banks are
supposed to issue cash advances without charge and then charge their
own customers when they use that service from other banks.

That is why you should shop around for your VISA card.

I do, but you've obviously done a better job at it than I did. My bank
charges me 1.25% for cash advances on a credit card. Out of interest
(no pun intended), which credit card do you have that charges nothing?

Chris

Chris Blunt wrote:


I do not know how the banking system works. But I am very happy that
some Cambodian banks charge only $5-$6 for cash advance. It is a small
fee for not carrying a large amount of cash. You cannot compare US
banking system to Cambodia. Most US banks make their profits from late
fees, ATM charges, credit card loans, and other loans (which they get
low interest money from our Federal Reserve)


I compared it to the US because your justification was that Cambodian
banks had to pay their workers salaries, and US salaries are among the
highest in the world.

OK, if you prefer, compare it to similar economies such as Thailand,
the Philippines, Indonesia, all of which I have taken cash advances
from in the last few weeks and not been charged by banks there.

The Cambodian banks are simply not playing by the rules they agreed
to.
I do not think you can compare Cambodian banking system to Thailand,
Indonesesia, etc Cambodian banking system is not that mature and
profitable.



By the
way, my bank charges me nothing for using cash advance.


From a credit card? I'm surprised, but if so, its up to them. The deal
with Visa and Mastercard is based on reciprocity. Member banks are
supposed to issue cash advances without charge and then charge their
own customers when they use that service from other banks.

That is why you should shop around for your VISA card.


I do, but you've obviously done a better job at it than I did. My bank
charges me 1.25% for cash advances on a credit card. Out of interest
(no pun intended), which credit card do you have that charges nothing?

Chris
That is, if you pay your balance in full every month There are lots
of credit users who do not pay off their balance each month. That is
where the Credit card issuers make lot of money from.

Chris Blunt wrote:


I do not know how the banking system works. But I am very happy that
some Cambodian banks charge only $5-$6 for cash advance. It is a small
fee for not carrying a large amount of cash. You cannot compare US
banking system to Cambodia. Most US banks make their profits from late
fees, ATM charges, credit card loans, and other loans (which they get
low interest money from our Federal Reserve)


I compared it to the US because your justification was that Cambodian
banks had to pay their workers salaries, and US salaries are among the
highest in the world.

OK, if you prefer, compare it to similar economies such as Thailand,
the Philippines, Indonesia, all of which I have taken cash advances
from in the last few weeks and not been charged by banks there.

The Cambodian banks are simply not playing by the rules they agreed
to.
I do not think you can compare Cambodian banking system to Thailand,
Indonesesia, etc Cambodian banking system is not that mature and
profitable.



By the
way, my bank charges me nothing for using cash advance.


From a credit card? I'm surprised, but if so, its up to them. The deal
with Visa and Mastercard is based on reciprocity. Member banks are
supposed to issue cash advances without charge and then charge their
own customers when they use that service from other banks.

That is why you should shop around for your VISA card.


I do, but you've obviously done a better job at it than I did. My bank
charges me 1.25% for cash advances on a credit card. Out of interest
(no pun intended), which credit card do you have that charges nothing?

Chris
That is, if you pay your balance in full every month There are lots
of credit users who do not pay off their balance each month. That is
where the Credit card issuers make lot of money from.

Chris Blunt wrote:


I do not know how the banking system works. But I am very happy that
some Cambodian banks charge only $5-$6 for cash advance. It is a small
fee for not carrying a large amount of cash. You cannot compare US
banking system to Cambodia. Most US banks make their profits from late
fees, ATM charges, credit card loans, and other loans (which they get
low interest money from our Federal Reserve)


I compared it to the US because your justification was that Cambodian
banks had to pay their workers salaries, and US salaries are among the
highest in the world.

OK, if you prefer, compare it to similar economies such as Thailand,
the Philippines, Indonesia, all of which I have taken cash advances
from in the last few weeks and not been charged by banks there.

The Cambodian banks are simply not playing by the rules they agreed
to.
I do not think you can compare Cambodian banking system to Thailand,
Indonesesia, etc Cambodian banking system is not that mature and
profitable.



By the
way, my bank charges me nothing for using cash advance.


From a credit card? I'm surprised, but if so, its up to them. The deal
with Visa and Mastercard is based on reciprocity. Member banks are
supposed to issue cash advances without charge and then charge their
own customers when they use that service from other banks.

That is why you should shop around for your VISA card.


I do, but you've obviously done a better job at it than I did. My bank
charges me 1.25% for cash advances on a credit card. Out of interest
(no pun intended), which credit card do you have that charges nothing?

Chris
That is, if you pay your balance in full every month There are lots
of credit users who do not pay off their balance each month. That is
where the Credit card issuers make lot of money from.

On Sun, 19 Sep 2004 07:26:16 -0700, comcast wrote:

By the
way, my bank charges me nothing for using cash advance.


From a credit card? I'm surprised, but if so, its up to them. The deal
with Visa and Mastercard is based on reciprocity. Member banks are
supposed to issue cash advances without charge and then charge their
own customers when they use that service from other banks.

That is why you should shop around for your VISA card.


I do, but you've obviously done a better job at it than I did. My bank
charges me 1.25% for cash advances on a credit card. Out of interest
(no pun intended), which credit card do you have that charges nothing?

Chris
That is, if you pay your balance in full every month There are lots
of credit users who do not pay off their balance each month. That is
where the Credit card issuers make lot of money from.

Again, can I ask which credit card it is you have which doesn't charge
a fee for taking cash advances overseas? Can you name it please? I'm
sure a lot of travelers would be interested to know.

Chris