Korean Job Discussion Forums

bbreuhaus · Joined: 17 Apr 2006

I just went to Hana Bank and was told that foreigners are not allowed to take any cash from ATMs outside of Korea. I have a VISA card (that says international on it) as well as a Hana ATM card.
Hana said this is true all throughout Korea.
Is it? Is there any way around this -- opening an account at HSBC, for example? Thanks much

King Baeksu · Joined: 22 Oct 2006

That person is straight-up wrong if not out-right lying. If you see this thread you will get all the facts you need:

http://forums.eslcafe.com/korea/viewtopic.php?t=88740&postdays=0&postorder=asc&start=0

In fact, my Hana int'l debit card worked just fine in New York City and Seattle this summer.

It's so funny that I, a mere oeguk slacker, know more about local banking regulations than a bloody bank worker here!

Where's the sense of professionalism?! C'mon people! Get with the program!

Rteacher · Joined: 23 May 2005 Location: Western MA, USA

Well, I was able to withdraw money from my Kookman Bank debit card last year when I was in the U.S., but I wasn't able to do so a few weeks ago (although I could get cash advances on my Kookman Bank BC Visa Card. It may be that they are trying to regulate it to discourage foreign teachers thinking about not returning to Korea from vacations, but it hasn't completely been effected yet...

King Baeksu · Joined: 22 Oct 2006

hogwonguy1979 · Joined: 22 Dec 2003 Location: the racoon den

i was able to get money out using my korean atm card in thailand this month. but my card is 2 years old

whats really bs about this whole stuff is my wife just got her univ id card and its tied to her bank account, it worked fine in the US this month.

bbreuhaus · Joined: 17 Apr 2006

Thanks, King ...

I'm going to take a printout of the Chosun article to the bank branch tomorrow and see what happens. I've had my account there since March of last year.

King Baeksu · Joined: 22 Oct 2006

Bbreuhaus, be sure to ask for a "gukje hyungum k'adu" (int'l cash card).

If they start giving you some b.s. runaround, be sure to tell them that they are racist frogs in the well. Then turn around, point to your bum and say, "Hub of Asia, my ongdong'i!"

chris_J2 · Joined: 17 Apr 2006 Location: From Brisbane, Au.

I have a Nong Hyup cash debit card, & so far I've been able to withdraw cash overseas from atm's in Japan, Thailand, China, Mongolia (UB only), Russia & Australia. It's cirrus / maestro, if that helps.

bbreuhaus · Joined: 17 Apr 2006

Well, I went back today with the article -- and a Korean speaker -- and was still denied the card. My bank branch called the headquarters in Euljiro, with the Korean speaker standing there, and was told that there IS a rule denying foreigners the right to take cash out of ATMs overseas. I told them I was going to file a complaint and I asked for the bank president's name. My next step, I suppose, will be to go to the Euljiro branch. I'm not ready to let this go yet.

spliff · Joined: 19 Jan 2004 Location: Khon Kaen, Thailand

I think they are correct, it's a new rule. The people posting here (myself included) have international debit cards because we got them before this new rule came into effect. I have no problem using mine in any country, but if I went to make a new one today, I'd be denied. Tough luck!

King Baeksu · Joined: 22 Oct 2006

Atavistic · Posted: Thu Aug 30, 2007 9:36 pm Post subject:

I also bank with Hana and went to an upscale area, dressed well, with my well-dressed boyfriend. We were told the same thing. Also had the article. It doesn't matter.

I did, however, get a Hana check card. Which can only be used in Korea.

If you're public school, you can get a Korean credit card through Samsung. That can be a real help. It works anywhere. I just used it in Vietnam last week, had the card less than a month.

King Baeksu · Joined: 22 Oct 2006

bbreuhaus · Joined: 17 Apr 2006

A couple of quick things ... I showed Hana Bank the article, and pointed out the Ministry of Finance quote. Didn't matter.
Second, I've had the account since April of last year. On the top of my BC Card Visa it says "international."
And third, I just called the Seoul Foreigner Help Center. They seem to think that there IS a new rule about this, which does ban foreigners ...

I'm going to contact the Ministry of Finance. Their e-mail is [email protected] and the phone # is 2150-2974

King Baeksu · Joined: 22 Oct 2006

For anyone who tries to get an int'l cash card here in the future, do not bring in my article, but rather ask them about the meeting on 21 June 2007 that all Korean banks had with officials at the Ministry of Finance and Economy's Foreign Exchange Transaction Policy Division.

MOFE clarified their policy on this matter to them, and the banks said they understood. The above quotes from the MOFE are all on-the-record comments.

There is no regulation against foreigners getting int'l cash cards. Mine is new and I got it just a few months ago.

This issue if far more complicated than it needs to be because there are too many people who just don't know what they're talking about, or using smoke and mirrors to try to duck the issue.