Korean Job Discussion Forums

[enns]

I've sent money home through my bank(KB) the past few months but am getting grilled by fees. I just sent 1.4 million to my Bank of Montreal account in Canada, KB charged me a $22 fee and sent the money in USD, BMO converted the money and charged me another fee. Basically, I lost $80 after it was all said and done.

I can't keep doing this, anyone have other suggestions? Does Korea still allow me to mail a debit card home for relatives to use?

[tzechuk]

In the UK, banks issue these deposit slips that you use if you want to deposit money into your account. They have all your account info printed on.

If you have those, you can go to your local Korean bank, get a banker's draft made out in your home currency (i.e. Canadian dollars) and send it directly to your bank with a deposit slip. I normally send it via EMS because that's the safest way. A banker's draft costs 5,000 won or so to make but it doesn't cost anything to deposit. EMS to the UK is 14,000 won, so altogether it costs me less than 20k to do this, versus about 100k.

Sometimes I send it to my mum, who takes it to the bank for me and deposit it there.

[enns]

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