Just landed - wondering what gives the better rate in Cambodia: ATM withdrawal or airport exchange counter?
I arrived in Cambodia last month and used the airport exchange because I wanted some cash quickly. The rate was bad compared to what I later got at the Hattha Bank ATM downtown. If you’re not in a rush, skip the airport counters. Also, keep an eye out for fees at some ATMs like ABA Bank which can charge up to $10 per withdrawal if you take out larger sums. Smaller withdrawals at BRED Bank or Vattanac Bank tend to be cheaper.
From my experience, the airport exchange counters in Siem Reap have terrible rates. The fees and margins mean you get about 5 to 7 percent less compared to withdrawing cash from an ACLEDA Bank ATM in town. But some banks have ATM withdrawal limits, so plan accordingly. I always recommend taking out some dollars in Phnom Penh first since USD is widely accepted.
Airport exchange booths in Cambodia are convenient but definitely mark up the rate. I compared rates at the Phnom Penh airport and the Canadia Bank ATM nearby and the ATM was way better. However, if you only need a small amount to start with, the counter is fine. Just don’t exchange too much at the airport. I usually withdraw larger amounts from a bank ATM in the city once I’m settled.
I landed in Phnom Penh last year and always found ATMs to give a much better exchange rate than airport counters. The counters usually have a poor rate and charge hidden fees. I withdrew cash from an ABA Bank ATM right after customs and got a rate close to the mid-market one. Just make sure to decline dynamic currency conversion prompts on the ATM so you don’t get ripped off.