Korean Job Discussion Forums

[reactionary]

how much do you pay per transaction to send money home? I don't do it very often, but last July I did it and my fee was 25,000 won (which was higher than I had remembered). I did it today and the fee was 30,000 won. This was at Woori bank. Are other banks following suit?

[wylies99]

My bank- 7,000 to exchange won to dollars, 8,000 for the actual transfer.
MY US bank charges $5 to accept the transfer.

[BRawk]

I've remitted recently with Nonghyup and KEB.

Nonghyops base charge was cheaper, but they were reallt slow. I paid 9000 all in all for the transfer, but it was only 1,000,000.

There is usually a charge relative to how much you send. When I sent money with KEB last month (5,000,000) they charged me 25,000.

[politicorific]

I've been here 6 months and just sent home my first 500,000 as a test to make sure I had my KEB account set up correctly. I had nightmares that when I tried to liquidate my account it would all vanish into a blackhole. I've obviously been reading this forum too much.

It cost me 18,000 and my bank at home charged $10 USD on top of that.

The nice thing was that it took less than 24 hours to transfer. I think the rate I got was something like 959 won/dollar. Sucks as I was really hoping the dollar/won rate would stay around 900 I'd seen 3 months ago. I guess Korea does too much business in the US, too bad really since some of the countries I used to live in has seen their rates drop 25 percent or higher in the last 6 months

[KYC]

[Atavistic]

[reactionary]

ah, then i guess i was charged more due to the high amount. 25,000 for 4 million, 30,000 for 6 million. makes sense.

[wylies99]

It should be a flat rate.

[normalcyispasse]

Cost me almost 40,000 for Nonghyup / Bank of America. Since then I simply buy traveler's checks and mail them.