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Foreign ATM cards in korea

 
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GlowStickGirl



Joined: 22 Aug 2003

PostPosted: Mon Oct 27, 2003 7:35 pm    Post subject: Foreign ATM cards in korea Reply with quote

Which, if any, ATM cards from the U.S.A. will work here in Korea? And if they do work, will my bank charge me any "exchange fee"?
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Zyzyfer



Joined: 29 Jan 2003
Location: who, what, where, when, why, how?

PostPosted: Mon Oct 27, 2003 7:56 pm    Post subject: Reply with quote

I'm pretty sure that any bank card that you have that works overseas, period, will work in Korea. The problem is finding an ATM that does overseas transactions, which can be tricky at times. You just have to try your card out in various ATMs, until you find one that does work. An ATM might say something about servicing international transactions, but it's no guarantee.

There are some fees involved; there's the ATM fee that you have to pay, which shouldn't be more than 1,000 won, and then you'll of course probably pay some nominal fee back home. It's small change, though, so long as you withdraw a decent sum of money. When I lived in Australia, I actually maintained a U.S. bank account and just withdrew money from that every so often, since my grants/loans were being supplied from the U.S. You will get a really good exchange rate, surprisingly.
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The Bobster



Joined: 15 Jan 2003

PostPosted: Mon Oct 27, 2003 8:39 pm    Post subject: Reply with quote

We got a thread going on this topic, and it's a good one, too, a "sticky" in fact ...

http://www.eslcafe.com/forums/korea/viewtopic.php?t=2300

Click here and join the crowd already talking about it ... Wink
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Zyzyfer



Joined: 29 Jan 2003
Location: who, what, where, when, why, how?

PostPosted: Mon Oct 27, 2003 10:00 pm    Post subject: Reply with quote

I've unlocked it, since the topic here and at the linked thread are a bit different. This topic is asking about overseas bank cards that are usable in Korea, from one's native country. The sticky thread is about Korean cards that are usable overseas.
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peppermint



Joined: 13 May 2003
Location: traversing the minefields of caddishness.

PostPosted: Mon Oct 27, 2003 10:42 pm    Post subject: Reply with quote

I keep my Canadian bank account open and have used the card here once or twice. The red "Nice Cashing" machines are generally in English and will take international cards
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Dalton



Joined: 26 Mar 2003

PostPosted: Tue Oct 28, 2003 1:54 am    Post subject: Reply with quote

Try a post office bank machine. I did a search for 'Plus', 'Cirrus' etc before returning here. Nice bank machines work but it's like every other subway stop. The others are for Visa or other credit cards. Post Offices are all supposed to work. Did for me. Citibank too, aparently, for US cards. They may only be in Seoul thogh.
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The Bobster



Joined: 15 Jan 2003

PostPosted: Tue Oct 28, 2003 3:54 am    Post subject: Reply with quote

Quote:
I've unlocked it, since the topic here and at the linked thread are a bit different.


Good call, Zness, that's why we brought you on the team - me, I've gone native so thoroughly I don't even have any ATM cards from back home in my wallet any more. All Korean stuff these days ... explains my cluelessness maybe.

Beware, kids, stick around long enough and this could happen to YOU.

Shocked
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GlowStickGirl



Joined: 22 Aug 2003

PostPosted: Tue Oct 28, 2003 3:56 am    Post subject: Reply with quote

do you know if they process the transaction at the real-time exchange rate? or does each bank use its own "profit-making" rate?

Dalton wrote:
Try a post office bank machine. I did a search for 'Plus', 'Cirrus' etc before returning here. Nice bank machines work but it's like every other subway stop. The others are for Visa or other credit cards. Post Offices are all supposed to work. Did for me. Citibank too, aparently, for US cards. They may only be in Seoul thogh.
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bucheon bum



Joined: 16 Jan 2003
Location: DC area

PostPosted: Tue Oct 28, 2003 4:04 am    Post subject: Reply with quote

can't answer the exchange rate question, but will elaborate a bit on the bank thing.

If you won't be in seoul, your options are more limited. According to VISA and Mastercard's websites, KorAm bank is part of the Plus Network while Kookmin bank is part of Cirrus (or perhaps its reverse, i forget). No other banks are listed, but I guess the post office works as well.
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Dalton



Joined: 26 Mar 2003

PostPosted: Tue Oct 28, 2003 4:05 am    Post subject: Reply with quote

I don't know if each bank uses a different rate here but changing CAD$ into US$ always cost me 2.5 cents on the dollar reguardless of the Canadian bank I used for years. It was more for ATMs. The figure you see posted online and in papers is a wholesale rate I believe. It's what the bank pays then they charge you a %. I don't know if Korean banks and machines are consistant but they do charge.

My search was for the- "plus system" korea -I think. It was a while ago but my banks 24 hr call from anywhere line was useless so I searched for the actual system used. Plus in my case. That's where I found that the Nice bank machines all accept Plus, Cirrus etc. they are located at subway lines in Seoul. It seems that every other stop is for credit cards only as I said. And the post office thing. I think I read the post office is good for all systems. It worked for me and it's worth a shot if there's one nearby. Kinda made sense in this place too.
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Tiger Beer



Joined: 07 Feb 2003
Location: Hong Kong

PostPosted: Wed Oct 29, 2003 1:01 pm    Post subject: Re: Foreign ATM cards in korea Reply with quote

GlowStickGirl wrote:
Which, if any, ATM cards from the U.S.A. will work here in Korea? And if they do work, will my bank charge me any "exchange fee"?

CITIBANK is free - no charge to withdraw if you go to the branch's ATM machine. There is something like 5 or 6 branches here in Seoul and who knows where else in Korea. (Not many, but enough).

You can only withdraw your cash in Korean Won though. You might lose something on the exchange rate.. I mean as much as you would anywhere you buy Korean Won with your American Dollars.
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jajdude



Joined: 18 Jan 2003

PostPosted: Thu Oct 30, 2003 7:55 am    Post subject: Reply with quote

I think many subway stations in Seoul have ATMs that accept foreign cards, and charge about 1000 won per withdrawal. Some Korea Foreign Exchange banks have "Global Service." Sometimes the KorAM (Han MI) bank works. Last month I used a ChoHung Bank. Often only one of the machines in a bank will accept the foreign card. Many do not show your account balance, maybe because of the money conversion?
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Dalton



Joined: 26 Mar 2003

PostPosted: Thu Oct 30, 2003 9:19 am    Post subject: Reply with quote

Cho Hung, Kookiman, KB* all have ATM service for Plus, etc. but not every branch. In my area not one branch has an ATM that accepts foreign cards but they all have at least one English ATmachine. The presence or lack of a sticker on the machine will tell you or you can go inside and show your cards Plus whatever symbol to a security/info person.
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