Korean Job Discussion Forums

PeteJB · Joined: 06 Jul 2007

For those from the UK living in Korea, what is the easiest bank to access in Korea? I know Nationwide don't charge any money for retrieving money abroad, but.. I'm guessing they're not easy to access. I was thinking HSBC, or something more global...

demi · Joined: 23 Mar 2006 Location: London

I'd like to know the answer to this too Pete.

just another day · Posted: Sat Aug 11, 2007 1:28 am Post subject:

umm... there's HSBC everywhere in Korea. I knew people in the upper management there (way up) and they did mention the banking (commercial, not investment banking) operations were being expanded if i remember correctly.

tzechuk · Joined: 20 Dec 2004

What do you mean by easy access? To retrieve your account in the UK? To send money directly into your bank account back home?

If so - zero. They don't operate like that. HSBC in Korea is also different from other countries. Last I checked, you had to have a minimum of 1m deposite at all times, amongst other restrictions and rules.

PeteJB · Joined: 06 Jul 2007

I mean for taking money out, not putting in.

tzechuk · Joined: 20 Dec 2004

Any bank card, as long as it has a cirrus, or visa plus, or maestro sign on the card, is usable overseas. The problem of not being to withdraw money doesn't come from which bank you use to obtain the card, the problem comes from the local bank banking system and restrictions etc.

Just make sure you get a card with those signs on and you can use it pretty much with all major banks.

silvertoes · Joined: 13 Feb 2006 Location: Busan

I've banked with NatWest for about 18 years, and stuck with them when I moved here. I cable money back to them every couple of months, and can check my account / move my money around within the UK, entirely online and securely. They've been super helpful on the rare occasion when I've needed to check something via their overseas phone line. I pay my credit card (Egg - also entirely manipulable online) by direct debit, and can make one-off payments using the net.

I do have the benefit of having my Dad let me use his address while I'm away. (Natwest have agreed to send hard-copy statements just once a year so I don't clog up his letterbox). The only thing that would improve the financial-paperwork element of my life as a nomad is if I could send money to the UK from here using the net without having to go into my (KB) bank, but that's a problem at the Korean end, not UK.

SPINOZA · Joined: 10 Jun 2005 Location: $eoul

At Kookmin Bank ATMs I've noticed there's now an option for use of a foreign card. Haven't tried it yet, but, if this option enables withdrawals with a foreign card, that's good. Previously, PeteJB, standard ATMs only allowed domestic cards, I think, and one had to look for an international ATM (there's generally one in a subway station, I think) as opposed to being able to use ANY.