Do I need a bank account in Cambodia to send money to India?
Not necessarily. Many international services operating in Cambodia offer cash transfers to India, so you can send money without a bank account. However, if you’re using online banking or bank-to-bank transfer from Cambodia to India, an account will be required.
What fees does Wise (TransferWise) charge for transferring money to India?
Wise's fees depend on the transfer amount and chosen payment method. You can calculate the exact cost of your transfer on their website before making a transaction.
Will the recipient in India need identification to receive money from Cambodia?
Yes. If you're sending money from Cambodia to India for cash pickup, the recipient in India must show a valid ID and sometimes the transaction number. This helps ensure that money sent from Cambodia is securely delivered in India.
How to calculate taxes on foreign payments?
If for some reason the bank's rate on that day was higher than the Central Bank's rate (the rarest
case), the "service" received is also taxed. It is easier to follow this point than to deal with
additional calculations.
