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Is there any surcharge from korean banks using ATMS abroad?

 
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itaewonguy



Joined: 25 Mar 2003

PostPosted: Mon Aug 29, 2005 6:42 am    Post subject: Is there any surcharge from korean banks using ATMS abroad? Reply with quote

If so , how much is it? everyone is using their Kb cards, keb cards etc
so how much fee do you pay for taking out money abroad?
do different countries charge different fees? or is a flat rate from the bank?
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dreamscape



Joined: 05 Aug 2004

PostPosted: Thu Sep 01, 2005 8:18 am    Post subject: Reply with quote

I haven't done it from North America, but in Taiwan I was able to withdraw money using my KB card with no service fees. A friend told me she mailed a card to her Mom in Canada and had her withdraw money from her account rather than pay to transfer it home. The Canadian bank charged $1 or $1.50 service fee but that was it. Wasn't me so I'm not 100% on that, but don't see why she'd lie.
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quiksilver



Joined: 11 Sep 2004

PostPosted: Fri Sep 02, 2005 3:48 am    Post subject: Reply with quote

I don't pay any fees at either end (KB or the bank in Canada). You do get the worst cash rate for the day though so in a way it's like paying a fee, ie: the difference between say the traveller's check rate and the cash rate could be considered a fee. But in terms of an actual dollar/won amount or percentage, nothing.
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tzechuk



Joined: 20 Dec 2004

PostPosted: Fri Sep 02, 2005 5:49 am    Post subject: Reply with quote

I am pretty sure KEB doesn't charge, they just take the money out as USD, wherever you go (I think - at least that's what they did when I took money out in HK) and the exchange rate here and there is enough to give them a small profit, I think.

Woori bank, however, when I asked, they said they charged between 3-5 USD per transaction. I was all set to getting a card, I told them it's ok, they can charge me a fee, I want an international card. Then they told me foreigners couldn't get one?! WTF? Shocked Confused
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Wangja



Joined: 17 May 2004
Location: Seoul, Yongsan

PostPosted: Thu Sep 22, 2005 12:02 am    Post subject: Reply with quote

Using my Woori cash-card I drew 250 GBP last week in UK and the cost was 465,785. The effective rate was therefore 1903 against a mid-rate of 1860 that day, so a 1% spread.

No other charges involved and that was a very reasonable deal in my view.

Edit: amazing how one get different stories from different branches of the same bank!)
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Dawn



Joined: 06 Mar 2004

PostPosted: Thu Sep 22, 2005 6:04 am    Post subject: Reply with quote

My bank in the U.S. charges $2 every time I use my KB card in its ATM. KB charges (I think) an additional W600.
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