The National Bank of Cambodia (NBC) reported that 720,753 cheques were cleared during the first nine months of 2026, reflecting the continued use of traditional cheque payments alongside the expansion of digital financial services. The total comprised 698,090 US-dollar-denominated cheques and 22,663 riel-denominated cheques. The riel-denominated instruments had a combined value of 15.19 trillion riel, equivalent to approximately US$3.8 billion, according to the latest NBC figures.
Key Facts
Total cheques cleared: 720,753 from January to September 2026.
US-dollar-denominated cheques: 698,090.
Riel-denominated cheques: 22,663.
Value of riel-denominated cheques: 15.19 trillion riel, or approximately US$3.8 billion.
2025 riel cheque value: 25.41 trillion riel.
Average daily value of riel cheque clearings in 2025: 104.6 billion riel.
Digital payment alternatives: Bakong, mobile banking applications and QR-code payments.
Data source: National Bank of Cambodia, as reported by Khmer Times.
NBC Clears 720,753 Cheques From January to September
Cambodia's cheque-clearing system processed 720,753 cheques during the first nine months of 2026, according to figures released by the National Bank of Cambodia.
US-dollar-denominated cheques accounted for 698,090 instruments, while riel-denominated cheques totalled 22,663.
The figures show that US-dollar cheques continued to dominate clearing activity by number. Their continued use reflects the role of the US dollar in Cambodia's dual-currency economy, where both the riel and the dollar are used in financial transactions.
However, the number of cheques processed does not reveal the total value of all cleared instruments. The supplied report provides the combined value for riel-denominated cheques but does not specify the total value of US-dollar-denominated cheques for the nine-month period.
Riel Cheques Represent 15.19 Trillion Riel in Transactions
The 22,663 riel-denominated cheques cleared between January and September 2026 had a combined value of 15.19 trillion riel, equivalent to approximately US$3.8 billion.
This indicates that riel-denominated cheques continued to facilitate substantial financial transactions despite accounting for a relatively small share of the total number of cheques cleared.
The difference between transaction count and transaction value is important when assessing payment activity. A comparatively small number of instruments can represent substantial monetary value, depending on the size of the transactions involved.
The latest figures do not establish whether the average value of riel cheques increased or decreased compared with the same nine-month period in 2025.
Historical Data Show Changes in Riel Cheque Usage
NBC figures for 2025 show that banks cleared 30,180 riel-denominated cheques worth 25.41 trillion riel.
The value represented an increase of approximately 17% from 21.65 trillion riel in 2024, even though the number of riel cheques declined by around 8%.
The average daily value of riel cheque clearings reached 104.6 billion riel in 2025.
Historical data dating back to 2001 also show that the number of riel-denominated cheques increased over time before reaching a peak of more than 100,000 instruments in 2015. The number subsequently declined, while the total transaction value continued to increase.
These trends suggest that cheque usage has changed over time, with fewer riel-denominated instruments being processed than at the historical peak but substantial monetary value still passing through the clearing system.
The figures alone do not explain why the pattern changed or how much of the decline is attributable to the adoption of alternative payment methods.
US-Dollar Cheques Continue to Dominate Clearing Volumes
US-dollar-denominated cheques accounted for the overwhelming majority of cheques cleared during the first nine months of 2026.
In 2025, banks processed 993,449 US-dollar-denominated cheques, compared with more than one million in 2024, according to the report.
This continued predominance is consistent with the role of the US dollar in Cambodia's financial system.
The available figures, however, do not provide a complete comparison of cheque-clearing values across currencies for the first nine months of 2026. They therefore cannot establish whether the total monetary value processed through US-dollar cheques rose or fell during the period.
Returned Cheques and Payment Risks
The reported figures also highlight fluctuations in the value of returned cheques.
In February 2025, the value of returned riel-denominated cheques exceeded 2 trillion riel, substantially higher than levels recorded in most other months, according to the source report.
Returned-cheque figures can be relevant when assessing payment reliability, but a single monthly increase does not necessarily indicate a widespread deterioration in payment conditions.
The report notes that the available data do not establish whether the February 2025 spike reflected broader payment difficulties or a small number of high-value instruments.
Without further information on the number of returned cheques, their reasons for return and the proportion of total clearing activity involved, stronger conclusions would be premature.
Digital Payments Expand Alongside Traditional Cheques
The decline in cheque volumes has coincided with the growth of electronic payment channels in Cambodia.
These include the NBC's Bakong payment system, mobile banking applications and QR-code payments. Such services allow users and businesses to make payments electronically rather than relying exclusively on paper-based instruments.
Digital payments can offer convenience and faster transaction processing, depending on the service and transaction type. Their expansion has also changed how consumers and businesses interact with banks and financial service providers.
Nevertheless, the continued clearing of more than 720,000 cheques during the first nine months of 2026 indicates that traditional instruments remain part of Cambodia's payment landscape.
The supplied report does not quantify the share of transactions conducted through digital channels or establish how much of the decline in cheque use can be directly attributed to Bakong, mobile banking or QR-code payments.
Angkor Times Analysis
Cambodia's cheque-clearing figures illustrate the coexistence of traditional banking instruments and newer digital payment methods.
The 720,753 cheques processed in the first nine months of 2026 show that paper-based payments remain in use. At the same time, the historical decline in riel cheque volumes and the expansion of electronic payment channels point to changes in payment behaviour.
The distinction between transaction volume and transaction value is particularly important. Although riel-denominated cheques represented only 22,663 of the instruments cleared during the period, their combined value reached 15.19 trillion riel. The number of instruments alone therefore does not fully capture their financial significance.
For banks and businesses, the practical question is how different payment channels meet their needs for reliability, cost, speed and transaction documentation. Cheques may remain useful for some transactions, while digital payments can provide alternatives for everyday transfers and commercial payments.
For policymakers, monitoring both traditional clearing activity and digital payment adoption can help provide a more complete picture of changes in Cambodia's financial system.
However, the available data are insufficient to establish the overall value of cheque transactions across both currencies during the first nine months of 2026 or to quantify the pace at which digital payments are replacing cheques. More detailed figures would be needed to measure those changes accurately.
Frequently Asked Questions
1. How many cheques did Cambodia clear in the first nine months of 2026?
The National Bank of Cambodia reported that 720,753 cheques were cleared from January to September 2026.
2. How many cheques were denominated in riel?
A total of 22,663 riel-denominated cheques were cleared, with a combined value of 15.19 trillion riel, equivalent to approximately US$3.8 billion.
3. How many US-dollar-denominated cheques were cleared?
Banks cleared 698,090 US-dollar-denominated cheques during the first nine months of 2026.
4. How did riel cheque clearing perform in 2025?
In 2025, 30,180 riel-denominated cheques were cleared, with a combined value of 25.41 trillion riel. The value increased approximately 17% from 2024 despite an around 8% decline in the number of instruments.
5. Why are cheque volumes declining?
The source report notes that declining cheque volumes have coincided with the expansion of digital payment channels, including Bakong, mobile banking and QR-code payments. It does not quantify the contribution of each channel to the decline.
6. Does the increase in returned-cheque value indicate a banking crisis?
No such conclusion can be drawn from the reported figures alone. The value of returned riel cheques exceeded 2 trillion riel in February 2025, but the source report says it is unclear whether this reflected broader payment difficulties or a small number of high-value instruments.