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biggpoppa
Joined: 14 Jul 2007
Location: Toronto, Ontario, Canada
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 Posted: Wed Jan 09, 2008 4:03 pm Post subject: leaving korea with under 10k |
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i'll be leaving korea with just under 10k...would you wire it home first or take it back in TC's?
thanks in advance... |
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Snowkr
Joined: 03 Jun 2005
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| Posted: Wed Jan 09, 2008 4:14 pm Post subject: |
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Probably best to wire it. Then again, traveler's checks may be about the same cost wise...
I'm in the same situation at the moment. |
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Unposter
Joined: 04 Jun 2006
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| Posted: Wed Jan 09, 2008 6:27 pm Post subject: |
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Go to Itaewon or some other official money changer and have it changed into U.S. cash. There isn't any fee and the exchange rate is better than banks.
Carry it on your person at all times. Don't get robbed. |
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oldfatfarang
Joined: 19 May 2005
Location: On the road to somewhere.
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| Posted: Wed Jan 09, 2008 6:36 pm Post subject: |
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Really, really dumb to carry that amount of cash - anywhere - anytime.
Wire 90% home a week before you go (then you can check if it's arrived) and convert the rest to dollars/trav. checks at Incheon Airport. |
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spamghod
Joined: 26 Dec 2007
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| Posted: Wed Jan 09, 2008 6:53 pm Post subject: |
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| Unposter wrote: |
Go to Itaewon or some other official money changer and have it changed into U.S. cash. There isn't any fee and the exchange rate is better than banks.
Carry it on your person at all times. Don't get robbed. |
Yes, the thieves in the Itaewon aren't actually thieves and will give you GOOD rates!! I have land in Florida for sale if you believe that one! |
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matthews_world
Joined: 15 Feb 2003
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| Posted: Wed Jan 09, 2008 7:04 pm Post subject: |
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10,000 won?
Make sure you get your pension if you aren't coming back. |
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Unposter
Joined: 04 Jun 2006
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| Posted: Wed Jan 09, 2008 8:35 pm Post subject: |
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I've never had a problem but there certainly aren't any guarantees.
You will have to make a decision yourself. If you are looking for the safest way to get your money home than by all means wire it. |
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regicide
Joined: 01 Sep 2006
Location: United States
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| Posted: Wed Jan 09, 2008 9:16 pm Post subject: |
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| Unposter wrote: |
I've never had a problem but there certainly aren't any guarantees.
You will have to make a decision yourself. If you are looking for the safest way to get your money home than by all means wire it. |
Wiring the money will cost less than $50. Is there really any need to ask this question? Alright. Take 10-$1000 TC's back with you and keep the receipts safe and save yourself that fifty bucks. |
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PRagic
Joined: 24 Feb 2006
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| Posted: Thu Jan 10, 2008 3:11 am Post subject: |
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| You can get a certified bank draft for around 5 bucks. |
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mykrobb
Joined: 01 Feb 2006
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| Posted: Thu Jan 10, 2008 3:53 am Post subject: |
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| the fee to transfer money isn't that high, but remember to have enough pay receipts to equal the amount you want to send back. |
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ryouga013
Joined: 14 Sep 2007
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| Posted: Thu Jan 10, 2008 6:15 am Post subject: |
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| I already transfered about half that much for about 34,000W and it arrived at my in about 36hours using my Busan bank account. I thought that wasn't a bad price at all. |
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regicide
Joined: 01 Sep 2006
Location: United States
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| Posted: Thu Jan 10, 2008 5:57 pm Post subject: |
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| ryouga013 wrote: |
| I already transfered about half that much for about 34,000W and it arrived at my in about 36hours using my Busan bank account. I thought that wasn't a bad price at all. |
Actually I pay W17,000 to Hana and the Federal Reserve Bank takes $5 and my bank in the states takes $10. So the figure is more like $30.
I was just trying to dramatize how cheap the OP is if that fee is a consideration since it is the most efficient and safe.
Many of us pay that fee every month to get money back to our family.
In any event; my money is always there the SAME BUSINESS DAY ( bank in the States).
It is in the middle of the night when you wire and the money is in New York when they wake up and your bank in the afternoon of the same day. |
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roknroll
Joined: 29 Dec 2007
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| Posted: Thu Jan 10, 2008 10:04 pm Post subject: |
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| spamghod wrote: |
| Unposter wrote: |
Go to Itaewon or some other official money changer and have it changed into U.S. cash. There isn't any fee and the exchange rate is better than banks.
Carry it on your person at all times. Don't get robbed. |
Yes, the thieves in the Itaewon aren't actually thieves and will give you GOOD rates!! I have land in Florida for sale if you believe that one! |
there's no land in Florida?  i believe u want to sell him swamp land?  |
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RJjr
Joined: 17 Aug 2006
Location: Turning on a Lamp
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| Posted: Fri Jan 11, 2008 12:43 am Post subject: |
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| I don't know if KB gives better exchange rates than other banks, but I do know they provide travellers checks at no expense to the customer if you bank there. |
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thegadfly
Joined: 01 Feb 2003
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| Posted: Fri Jan 11, 2008 4:26 am Post subject: |
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| My bank exchanges won for TC dollars at a different rate than for cash -- and wire transfers are considered to be exchanged for cash before being wired (at my bank at least). 10 won to the dollar may not seem like much, but on $10,000 USD, that is 100,000 won...plus the $25-ish dollar wiring fee...so I prefer to do the TC thing rather than wiring...$125 is enough change to notice.... |
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