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World Traveler
Joined: 29 May 2009
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 Posted: Wed Feb 06, 2013 6:17 am Post subject: What is the best way to access a Western bank account? |
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What is the best way to access a Western bank account from within Korea?
Go to a machine? (Where can I find such a machine?) Go to the domestic bank of which I am a member? What is the cheapest and/or most painless way to get won into my hands? (My Korean bank is Hana 하나은행 and my American bank is Citizens Bank if that matters.) |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Wed Feb 06, 2013 3:17 pm Post subject: Re: What is the best way to access a Western bank account? |
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| World Traveler wrote: |
What is the best way to access a Western bank account from within Korea?
Go to a machine? (Where can I find such a machine?) Go to the domestic bank of which I am a member? What is the cheapest and/or most painless way to get won into my hands? (My Korean bank is Hana 하나은행 and my American bank is Citizens Bank if that matters.) |
ATMs in convenience stores or the subway usually have international network connections. Look for the symbols that are on the back of your card.
MOST ATM machines in most banks are NOT hooked up to international networks so they only work with Korean ATM cards.
Some banks (KEB being notable) have international ATM machines in them (usually only 1) and they are marked with the symbols of the networks they can access.
There is no cheap way but it isn't that expensive either. Withdraw the largest amount you can at each transaction so the transaction fees don't cost you more than the money you take out.
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Wed Feb 06, 2013 5:42 pm Post subject: |
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| I haven't checked lately. But for some reasons, Canadian debit cards don't seem to work over here. Only credit cards do. Americans and even some South Africans were able to check their accounts via these global ATM's. Global ATM's here never seemed to like my RBC or TD Bank cards. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Wed Feb 06, 2013 5:54 pm Post subject: |
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I couldn't check my accounts (had to do that on-line) but I could get money.
Just watch for the network symbols..
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Wed Feb 06, 2013 6:05 pm Post subject: |
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| I couldn't get money either. But I mostly check online after doing a wire transfer from here. (Still paying student loans and such.) |
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12ax7
Joined: 07 Nov 2009
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| Posted: Wed Feb 06, 2013 9:51 pm Post subject: |
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| Weigookin74 wrote: |
| I haven't checked lately. But for some reasons, Canadian debit cards don't seem to work over here. Only credit cards do. Americans and even some South Africans were able to check their accounts via these global ATM's. Global ATM's here never seemed to like my RBC or TD Bank cards. |
Try again with your debit card, but indicate that you're doing a credit card advance instead of a withdrawal from your savings or checking account. That usually works. |
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ewlandon
Joined: 30 Jan 2011
Location: teacher
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| Posted: Wed Feb 06, 2013 10:18 pm Post subject: |
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I transfer my entire paycheck to my US account each month because it saves me money. I have to pay loans from that account so its just easier to transfer it all.
I never have any problem accessing money. Don't use the ATM"s at the subway or 7/11 as they charge you like 3-4 bucks. Most banks have at least one ATM with a visa sticker and they do not charge you anything for using them. STandard charter, Shinhan, KB, etc they all have visa.
I also just use my card for purchases most of the time and have a little bit of cash on me for smaller purches (under 5,000) cause I know it sucks for the business to use your card for 1,000 won.
Also my US bank is Firstrepublic, they charge zero dollars for overseas purches and ATM, and if the ATM charges me (like the 7/11 ones) the bank refunds that charge. Pretty sweet deal (only sucks cause the exchange rate is always changing) |
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