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Mr. Pink
Joined: 21 Oct 2003
Location: China
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 Posted: Wed Oct 03, 2007 5:21 am Post subject: |
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How can their be any problems getting money wired into Korea?
When I got married in Korea my family wired money over to me. There wasn't a single problem.
As for the guy who pointed out about KB bank, you are SOOOO correct. I have banked with them since 1997. This past summer I wanted to buy some foreign currency. The chick at the bank was: "I have to stamp your passport" So I told her no she wasn't going to do that and if she looked, she could see I was a customer since 1997 and I had an F-2 visa. I basically had to be stern to get her to do her job properly...
Another time I applied for a credit card at KB bank and they refused because I was a foreigner, even though I was making more than the average Korean, who could get access to a credit card.
I really am growing impatient with how unfriendly Korean banks are to foreigners. |
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nateium
Joined: 21 Aug 2006
Location: Seoul
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| Posted: Wed Oct 03, 2007 6:17 am Post subject: Re: Foreigners cannot recieve a bank wire transfer? |
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| fortunado30 wrote: |
| I'm curious about this and I want some feedback. Yesterday I went to KB bank (Kookmin Bank) where I have an account. I asked the customer service guy for my account number and the bank's routing number. He explained that KB bank does not have a routing number but instead a SWIFT number that is used for wire transfers. What is the difference? Also, he said it is against the law for foreigners to RECEIVE money from an overseas account. However it is ok to send. Another friend I talked to told me this was BS. However he did mention that the maximum you can receive is 10 million won before they freeze your account. How true is that? Any feedback on this topic would be great. |
Every bank franchise, individual bank, and individual employee has a different answer. I think they just make up answers.
IF you want to get anything done, just go bank shopping until you talk to the right person. |
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Typhoon
Joined: 29 May 2007
Location: Daejeon
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| Posted: Wed Oct 03, 2007 2:59 pm Post subject: |
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| Another time I applied for a credit card at KB bank and they refused because I was a foreigner, even though I was making more than the average Korean, who could get access to a credit card. |
That is their standard reply to foreigners. If it is not just giving them money then they tell you foreigners can't do it. KB has really gone to the dogs. |
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contrarian
Joined: 20 Jan 2007
Location: Nearly in NK
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| Posted: Wed Oct 03, 2007 4:34 pm Post subject: |
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| I had had a KB credit card for 5 years. I have no idea how I got a five year card but it was nice. When I tried to renew this year I was told no. Despite a perfect record for five years. I was p1ssed. |
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MissSeoul
Joined: 25 Oct 2006
Location: Somewhere in America
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| Posted: Wed Oct 03, 2007 5:03 pm Post subject: |
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| TheUrbanMyth wrote: |
| diver wrote: |
I received payment from overseas just two days ago. Had to jump through hoops to get it though. It felt like an interrogation.
I can understand some of the restrictions on money LEAVING the country. But why in the hell would you make it difficult for money to come IN TO your country? |
Plenty of countries have restrictions on money coming into the country in order to stop drug dealers and other criminals from laundering the money. |
America is one of them. |
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winterwawa
Joined: 06 May 2007
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| Posted: Wed Oct 03, 2007 10:59 pm Post subject: |
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| contrarian wrote: |
| I had had a KB credit card for 5 years. I have no idea how I got a five year card but it was nice. When I tried to renew this year I was told no. Despite a perfect record for five years. I was p1ssed. |
Same thing happened to me. I also had overdraft protection in the amount of 5 million won. I had the ODP for 4 years and they canceled that too. When I asked them why, they said that THE GOVERNMENT told them to stop giving credit to foreigners. What a bunch of crap. I will never use KB again, for anything. |
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contrarian
Joined: 20 Jan 2007
Location: Nearly in NK
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| Posted: Wed Oct 03, 2007 11:10 pm Post subject: |
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I will continue to use KB but only because I have an internatinal ATM card that actually works all of the time. I only have six months left in Korea after 8 years.
At one point my nearly 100,000,000 Won. That seems to have made no difference. |
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Wangja
Joined: 17 May 2004
Location: Seoul, Yongsan
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| Posted: Wed Oct 03, 2007 11:46 pm Post subject: Re: Foreigners cannot recieve a bank wire transfer? |
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| fortunado30 wrote: |
| I'm curious about this and I want some feedback. Yesterday I went to KB bank (Kookmin Bank) where I have an account. I asked the customer service guy for my account number and the bank's routing number. He explained that KB bank does not have a routing number but instead a SWIFT number that is used for wire transfers. What is the difference? Also, he said it is against the law for foreigners to RECEIVE money from an overseas account. However it is ok to send. Another friend I talked to told me this was BS. However he did mention that the maximum you can receive is 10 million won before they freeze your account. How true is that? Any feedback on this topic would be great. |
This is nonsense: over the years I have transferred to myself here in Korea around 600,000 USD, mostly in small, monthly amounts, but occasionally in large property-purchasing amounts and once as FDI (foreign direct investment).
The SWIFTCODE is the usual identifier, but in reaility all that is necessary is the bank name, account name and number. |
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