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DCJames
Joined: 27 Jul 2006
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 Posted: Sat May 26, 2007 10:11 am Post subject: |
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| hogwonguy1979 wrote: |
| Wangja wrote: |
But having established that there is no law against foreigners using international debit cards the banks will have to explain how their interpretation has changed since the MoFE's statement. |
thats going to be the interesting one. what changed in the banks mind around dec of 05 to cause all this. thats when this "law" went into affect according to my bank last summer
btw we should be showing this to our friend at the Korea Herald, as this too is a major problem |
That's a great point. Either the representative from MoFE or all of the banks in Korea are wrong - one or the other. I'm sure the truth is out there, but most of us don't know it because of the language barrier.
I'm dying to get a clear and definitive answer here.
What happened in Dec 05?????   |
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hogwonguy1979
Joined: 22 Dec 2003
Location: the racoon den
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| Posted: Sat May 26, 2007 4:22 pm Post subject: |
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| DCJames wrote: |
What happened in Dec 05????? |
according to the woori bank in hongdae that is when the "law" changed that prohibited banks from giving foreigners in atm cards.
from persusing other disucssions on other boards about this the MOFE sent the banks some sort of directive in late 05 that they could be held liable if foreigners violate the korean exchange laws by using their atm cards overseas in some sort of way.
i'd like to see that notice somewhere |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Sat May 26, 2007 4:39 pm Post subject: |
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| I wonder if it's just Korean banks covering their a$$e$ with anti-landering and anti-terrorism rules set by the US. If a bank is suspected of landering USD's for terrorism, then they can be prevented from exchanging US dollars, which basically means they'll go bankrupt. And according to Korean logic, only non-Koreans can be terrorists. |
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hogwonguy1979
Joined: 22 Dec 2003
Location: the racoon den
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| Posted: Sat May 26, 2007 5:43 pm Post subject: |
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| jvalmer wrote: |
| I wonder if it's just Korean banks covering their a$$e$ with anti-landering and anti-terrorism rules set by the US. If a bank is suspected of landering USD's for terrorism, then they can be prevented from exchanging US dollars, which basically means they'll go bankrupt. And according to Korean logic, only non-Koreans can be terrorists. |
i heard the money laundering argument mentioned somewhere, and i think somebody else mentioned the same korean logic. |
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hogwonguy1979
Joined: 22 Dec 2003
Location: the racoon den
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| Posted: Sun May 27, 2007 5:38 am Post subject: |
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| maybe its time for us banks to stop issuing int atm cards to koreans, you never know if they could be laundering illegally gotten money |
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thepeel
Joined: 08 Aug 2004
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| Posted: Sun May 27, 2007 5:56 am Post subject: |
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| JongnoGuru wrote: |
| In fact, the Korean Tourist Advisory Board advises citizens against handling foreign currencies in an effort to prevent the spread of AIDS. |
You are f-ing kidding. Right? |
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thepeel
Joined: 08 Aug 2004
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| Posted: Sun May 27, 2007 5:57 am Post subject: |
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| hogwonguy1979 wrote: |
| illegally gotten money |
Lotsa hooker cash flows Westward towards the ROK from North America... |
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OiGirl
Joined: 23 Jan 2003
Location: Hoke-y-gun
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| Posted: Tue May 29, 2007 4:39 am Post subject: |
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Has anyone tried the "easy-one Foregin Currency Remittance Service" (sic) from KEB? You open a special account, and whenever money is credited to that account, it is automatically remitted to a foreign account.
Have it remitted to an account for which you have an internationally-working cash card. |
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JJJ
Joined: 27 Nov 2006
Location: Seoul
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| Posted: Wed May 30, 2007 7:16 pm Post subject: |
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| OiGirl wrote: |
Has anyone tried the "easy-one Foregin Currency Remittance Service" (sic) from KEB? You open a special account, and whenever money is credited to that account, it is automatically remitted to a foreign account.
Have it remitted to an account for which you have an internationally-working cash card. |
Thanks for that information, I will try that.
Just to keep this going a little longer, I had my one afternoon/month free yesterday and decided to speak to the manager at my KB (star) bank. I printed out some papers from the ministry of finance and economy and some other papers showing that their is no law on the books against us having an international debit card. I gave him an hour to phone head office and came back.
Had some Mr. Min on the line, head of accounts and he told me that sorry, as of some date in early 06, they stopped giving cards to foreigners. You're right he said, there is no law BUT it is bank policy. It was a heated discussion and he bascially said if I can find another bank that allows it, go there.
So, I heard Woori bank was ok for us, went there, talked to the manager, got transfered to another higher up who said no to me as well. He said a few managers didn't know about the bank policy but that has changed. Jeezus. So I head to Hana bank and was told no as well. Darn it. So it seems to me that the ones who have a international debit card got it some time before such and such a date in 05 or early 06. Has anyone actually got a debit card that works in China, Japan, Thailand, U.S., Canada, etc since Sept 1st, 2006???
Anywho, long, frustrating as hell afternoon. |
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cangel
Joined: 19 Jun 2003
Location: Jeonju, S. Korea
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| Posted: Wed May 30, 2007 8:37 pm Post subject: |
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Absolute BS!! Not you, but this policy by the banking industry to control OUR money. Absolute discrimination! And to think that when I spoke to Woori Bank originally, they said it was a Korean law. Lie!
So, what are we to do? What would happen if every foreigner in Korea demanded cash payments and cut out the banks completely? I have yet to confront my particular bank but I will be giving Woori Bank a call soon. Maybe a calling campaign where we all spend an afternoon just calling our banks demanding our rights. A real grassroots things... |
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Metsuke
Joined: 13 Jan 2005
Location: Seoul, South Korea
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| Posted: Wed May 30, 2007 10:57 pm Post subject: |
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| Try Nonghyup... they game me and international debit card no questions asked. |
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DCJames
Joined: 27 Jul 2006
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| Posted: Wed May 30, 2007 11:19 pm Post subject: |
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| Metsuke wrote: |
| Try Nonghyup... they game me and international debit card no questions asked. |
That doesn't mean it's actually going to work when you go overseas.
I learned that the hard way.  |
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cangel
Joined: 19 Jun 2003
Location: Jeonju, S. Korea
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| Posted: Wed May 30, 2007 11:21 pm Post subject: |
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| Metsuke - Have you actually used that card outside Korea? A few people have "international" debit cards and gone overseas only to find out that their so called "international" card doesn't work. Have a contingency plan just in case. |
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JJJ
Joined: 27 Nov 2006
Location: Seoul
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| Posted: Thu May 31, 2007 4:45 pm Post subject: |
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| cangel wrote: |
| Metsuke - Have you actually used that card outside Korea? A few people have "international" debit cards and gone overseas only to find out that their so called "international" card doesn't work. Have a contingency plan just in case. |
No kidding. I didn't even get involved in this until I went to Tokyo at Christmas. Came back, went to the manager, asked why this card had international on it if the bloody thing didn't work. So sorry he said, takes the card for 15 min., comes back and says no problem next time. I go back the see the wife in April and by the jeezus, the card won't work again. Now, I am on a mission to get me one of these cards one way or the other. |
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Wangja
Joined: 17 May 2004
Location: Seoul, Yongsan
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| Posted: Thu May 31, 2007 4:50 pm Post subject: |
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| The easy way to check if an "international" card is really international is to withdraw USD from any ATM machine on the US bases. |
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