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Lekker
Joined: 09 Feb 2008
Location: Seoul
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 Posted: Mon May 19, 2008 4:29 pm Post subject: Send money home to my U.S. bank by avoiding my Korean bank? |
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| I really don't want to pay any fees. Where can I buy travelers checks/cheques in Seoul? |
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denistron
Joined: 21 Oct 2006
Location: Busan
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| Posted: Mon May 19, 2008 6:37 pm Post subject: |
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Yeah, I want to find out about that as well.
How much are travelers checks? How much money can you put on one check?
Second question: What about money orders? How much are they and how big can they be?
I think you can buy them at any bank, but I may be wrong... |
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icnelly
Joined: 25 Jan 2006
Location: Bucheon
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| Posted: Mon May 19, 2008 7:26 pm Post subject: |
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Check this thread: How to get a money order?
Any bank will have them, and KEB charges 5,000 won for one. |
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mrsquirrel
Joined: 13 Dec 2006
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| Posted: Mon May 19, 2008 8:00 pm Post subject: |
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I thought travellers cheques had to be signed by the person at the bank then cashed and signed again by the same person using their passport as ID.
Is this not correct? |
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mrsquirrel
Joined: 13 Dec 2006
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| Posted: Mon May 19, 2008 8:03 pm Post subject: |
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| Do they do money orders in Sterling? |
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Scouse Mouse
Joined: 07 Jan 2007
Location: Cloud #9
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| Posted: Mon May 19, 2008 8:14 pm Post subject: |
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Traveller's cheques are usually in $100 denominations and you will pay a fee to buy them, and a fee to sell them.
One thing I toyed with was opening a paypal account in the UK and a paypal account in Korea. I could then add funds here, and transfer them between accounts. The only problem I had was the Korean paypal needs a Korean ID number to do any transfers to and from your bank.
If you have a Korean friend that you trust with your money you could do it from a paypal account that they setup, and the only cost you incurr is the currency exchange rate.[/b] |
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Scouse Mouse
Joined: 07 Jan 2007
Location: Cloud #9
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| Posted: Mon May 19, 2008 8:15 pm Post subject: |
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Traveller's cheques are usually in $100 denominations and you will pay a fee to buy them, and a fee to sell them.
One thing I toyed with was opening a paypal account in the UK and a paypal account in Korea. I could then add funds here, and transfer them between accounts. The only problem I had was the Korean paypal needs a Korean ID number to do any transfers to and from your bank.
If you have a Korean friend that you trust with your money you could do it from a paypal account that they setup, and the only cost you incurr is the currency exchange rate. |
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RJjr
Joined: 17 Aug 2006
Location: Turning on a Lamp
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| Posted: Tue May 20, 2008 3:48 am Post subject: |
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| Deal with the KB branch in Mokdong, in the shopping center with VIPS, Jackie Chan's, etc. I don't know about other currencies, but they'll hook you up with travelers checks in 1000 USD denominations with no fee as a service for banking with them. |
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Lekker
Joined: 09 Feb 2008
Location: Seoul
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| Posted: Tue May 20, 2008 4:22 am Post subject: |
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| Do I need to have an account with KB? |
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RJjr
Joined: 17 Aug 2006
Location: Turning on a Lamp
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| Posted: Tue May 20, 2008 5:07 am Post subject: |
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| Yeah. Maybe you can set up an account at one branch and then go to another branch to get the checks. |
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