Korean Job Discussion Forums

[seoulis]

Thanks for the replies.

[KYC]

I just opened an online savings acct thru HSBC...since they have a branch in Korea. However, I'm now doubting they have this bank in the city where i'll be teaching. i cant vouch or say much about them since I only have a buck in there


For online/internet banking I highly recommend ING direct. I've had them for 2 years. It's very safe...transferring money from my wire accounts is very easy. It also yields higher interest rates than my local credit union. Most of my money is with ING

[seoulis]

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[sojourner1]

I opened up an HSBC online savings account several months ago at 5.05% interest in the states using a computer and then having my relatives send the ATM card to Korea. HSBC doesn't even charge for incoming foreign remittance, but the Korean bank you are sending from will charge about 20,000 won for outbound remittance. The interest bearing will more than cover the xfer expense.

Looking at things from an American perspective, an HSBC savings account looks like the way to go, because stocks and other financial securities are artificially over priced these days and too risky with the looming credit crunch and real estate market bust about to happen in the US. Could you imagine if you had $1,000,000 US in this account on how you could just sit back on $50,500 interest a year? I sure would love to achieve that on in 10 years, but it will require bigger and greater career opportunities to save that much up.

[duns0014]

Stay the hell away from amtrust direct.

[seoulis]

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[Dukey77777]

I think the visible trend says keep your Won here, because you're gaining interest even by just letting it sit around.

http://ichart.finance.yahoo.com/2y?usdkrw=x


Are there any major forseeable events that would stop this trend?

[seoulis]

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[Hater Depot]

Charles Schwab offer 4.5% interest and no ATM fees worldwide.