 Currency in Cambodia
On Sun, 19 Sep 2004 02:22:18 -0700, comcast <lilo@normal.com> wrote:
>
>Chris Blunt wrote:
>> On Sat, 18 Sep 2004 14:26:33 -0700, comcast <lilo@normal.com> 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
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