Update on sending money to Cambodia. Contrary to my OP, you can send USD to a bank in Cambodia with transferwise.
details for my transfer on transferwise website:
You send 550 EUR
Total fees (included) 6.01 EUR
Amount we'll convert 543.99 EUR
Guaranteed rate (49 hours) 1.18145
XXX gets 642.70 USD
Should arrive by October 30th
The money arrived already on 27oct2020, but it was only 587.70 USD. That's exactly 55 USD less than what transferwise said, of which 10 USD "International Inward Transfer Fee" declared in the receiver's receipt and a further 45 USD disappeared somewhere along the way (most probably on the Cambodian bank side, Advanced Bank of Asia Limited).
Overall 550 EUR -> 587.70 USD corresponds to a rate of 1.07, which is 9% lower than xe.com 1.18. My worst money transfer ever in absolute loss of 55 USD (for highest relative loss of 17% see Brasil report).
Intransparent and expensive, I will never send money online to Cambodia again unless it's a matter of life or death.https://transferwise.com/help/articl...outside-the-us
TransferWise supports sending USD to people outside of the US, but to do this we need to send your transfer via the SWIFT network.
Because SWIFT incurs additional costs, we will add a fee of 3.20 USD to your transfer to pay for this. We charge the same fee for payments to Hong Kong through CHATS system.
Your bank or other banks the money passes through on the way may also charge you a fee, so your recipient might get less. These fees tend to be around 25–50 USD, but there's no way for TransferWise to know what they'll be in advance.
I can only hope that immigrant workers in Thailand have better ways to transfer money to their home countries.
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