Korean Job Discussion Forums

[nicco33]

I'm due to arrive Korea in just over a month's time and have decided to do a little pre-emptive research. This week's project involves tracking down the cheapest (in terms of lowest service costs) and easiest means of transferring money home.

I've been using email money transfers to send money to friends from time to time and it works like a charm. Any chance it's an option for wiring money out of Korea (i.e. do any Korean banks offer Interac transfer options as part of their online banking services?)

(This is my first post to the forum, so if I've misplaced it, my apologies - feel free to move it to a more suitable home.)

[Tho25]

I am in the same position, and would also like to know

[peppermint]

Nope.
Easiest way to send money home is to get a money order made out to your at home bank account, and just mail it there.
Cost: about ten bucks
Time: 5-10 business days

Other option is to remit the money through your account in Korea to your account at home. you'll need a passport, ARC and possibly a form from your employer outlining how much you earn
Cost:20-30 bucks
Time:about 3 days

[Draz]

[peppermint]

Online access to your home account shouldn't be a problem, and emailing your money from that non Korean account to others in your home country should be fine too. It's the Korean banking system that's a little complicated

[nicco33]

Thanks Peppermint - that's some handy advice.

[Zaria32]

I always buy traveler's checks and mail them to my bank. The cost is zero (that is, you pay the spread, but nothing in addition) but it seems to always take aobut 10-11 days in the mail.