| View previous topic :: View next topic |
| Author |
Message |
sleeplessinla
Joined: 21 Apr 2007
Location: USA
|
 Posted: Wed Jul 04, 2007 3:15 pm Post subject: Exchange money at airport or Korean bank? |
 |
|
| When should I exchange my dollars for won? At the airport or wait til the school takes me to the Korean bank? If at the airport, what is the service charge? |
|
| Back to top |
|
 |
ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
|
| Posted: Wed Jul 04, 2007 3:42 pm Post subject: Re: Exchange money at airport or Korean bank? |
|
|
| sleeplessinla wrote: |
| When should I exchange my dollars for won? At the airport or wait til the school takes me to the Korean bank? If at the airport, what is the service charge? |
The exchange counters at the airport in Incheon/Seoul ARE the banks.
You will get the same rate at both the airport and the bank downtown.
Change at the airport for convenience. |
|
| Back to top |
|
|
mikekim
Joined: 11 Aug 2006
|
| Posted: Wed Jul 04, 2007 7:21 pm Post subject: |
|
|
| I think they have an extra service fee or something nominal. Better to get a 100k for basic living then do the rest at KEB. |
|
| Back to top |
|
|
ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
|
| Posted: Wed Jul 04, 2007 7:24 pm Post subject: |
|
|
| mikekim wrote: |
| I think they have an extra service fee or something nominal. Better to get a 100k for basic living then do the rest at KEB. |
There is NO difference and no additional fee.
The rates posted at the airport are the same as the rates on the bank's website and on the wall in your favorite branch in the city.
If you don't like the ease of the exchange booths there are full service bank branches (complete with lineups) on level 2. (arrivals are on level 1 and departures are on level 3). |
|
| Back to top |
|
|
viipuri
Joined: 12 Jun 2007
Location: Seoul, Centre of it all
|
| Posted: Wed Jul 04, 2007 7:35 pm Post subject: |
|
|
| I went one time to my local Shinhan Bank and the rate appeared rather different from the one I'd seen on a generic site, I mentioned this and showed the man the original estimate I had - he then altered the rate slightly - seems if you have a rate quoted from somewhere they can alter it within a smallish margin...every little bit helps if you're paying bills at home and having to send money... |
|
| Back to top |
|
|
kprrok
Joined: 06 Apr 2004
Location: KC
|
| Posted: Wed Jul 04, 2007 7:42 pm Post subject: |
|
|
Of course the rate was a little off. The rate you get at the bank will never be the true rate. The banks have to make money on the transactions, so they charge a little more for the service. The normal mark-up in Korean won is about 20 won each way. example: If the rate is 950, the sell rate will be about 970 and the buy rate will be 930. You always get the rate which costs you more money.
KPRROK |
|
| Back to top |
|
|
newton kabiddles
Joined: 31 Mar 2007
|
| Posted: Wed Jul 04, 2007 9:20 pm Post subject: Re: Exchange money at airport or Korean bank? |
|
|
| sleeplessinla wrote: |
| When should I exchange my dollars for won? At the airport or wait til the school takes me to the Korean bank? If at the airport, what is the service charge? |
Neither. Unless you're working out in the middle of nowhere it's best to exchange at the local exchange shops. |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
