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Musadi
Joined: 15 May 2007
Location: Korea
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 Posted: Fri Jun 22, 2007 8:14 am Post subject: Exchange checks at airport |
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| I get my monthly salary as checks. Would it be possible to exchange the checks to US dollars at the airport on my way out? |
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dogshed
Joined: 28 Apr 2006
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| Posted: Sat Jun 23, 2007 7:00 am Post subject: |
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Let's say hypothetically that someone says he and his sister and his
sister's friend have done this 37 times each and never had a problem.
This does not mean you won't. Do the safe thing and cash the checks
a few days before your flight or deposit them in your account and
arrange to have the money wired to you. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sat Jun 23, 2007 8:19 am Post subject: Re: Exchange checks at airport |
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| Musadi wrote: |
| I get my monthly salary as checks. Would it be possible to exchange the checks to US dollars at the airport on my way out? |
Arrivals are on level 1.
Departures are on level 3.
There is an actual bank branch on level 2. You MAY be able to convert them to cash there then do the foreign exchange at a money change booth if the bank won't do for-ex..
You can certainly convert them to cash an any other bank in the city.
Then you can exchange them for US$ when you get to the airport.
Always better safe than sorry.
You certainly CANNOT covert them to cash outside Korea. |
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Cacique
Joined: 01 Sep 2004
Location: Seoul
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| Posted: Sun Jun 24, 2007 12:52 am Post subject: Re: Exchange checks at airport |
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| ttompatz wrote: |
You can certainly convert them to cash an any other bank in the city.
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Wouldn't the bank hold the check for a period of several days to make sure it clears before cashing? I think it would be risky for them to just hand over the cash. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sun Jun 24, 2007 1:59 am Post subject: Re: Exchange checks at airport |
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| Cacique wrote: |
| ttompatz wrote: |
You can certainly convert them to cash an any other bank in the city.
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Wouldn't the bank hold the check for a period of several days to make sure it clears before cashing? I think it would be risky for them to just hand over the cash. |
Nope.
Checks here are not like personal checks from home.
They are bank issued (as compared to government issued currency) equivalents of $100 bills. You get them from ATM machines. |
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Cacique
Joined: 01 Sep 2004
Location: Seoul
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| Posted: Sun Jun 24, 2007 2:04 am Post subject: |
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| Oh, I assumed the OP was referring to a company check from his school. Those kind of checks don't exist here? That's interesting. |
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Wangja
Joined: 17 May 2004
Location: Seoul, Yongsan
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| Posted: Sun Jun 24, 2007 2:37 am Post subject: |
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I've never seen one in 9 years.
There are proper branches of Shinhan, Woori, KEB and one other in B1 at the airport. |
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