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xCustomx
Joined: 06 Jan 2006
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 Posted: Wed Nov 28, 2007 8:55 pm Post subject: how can i get a money order? |
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I went to the post office this afternoon because I was told that the fee to get a money order there is cheaper than at a bank. Of course the post office said that they don't issue money orders and that I would have to go to the bank. When my co-teacher called Kookmin bank, they said they don't issue money orders, even though the bank she called was on the Western Union website. Since I work at a public school I don't have a lot of time to get this taken care of, unless I get permission to leave work early. I've read other posts about going to KEB and getting a money order with a fee of between 5-15,000 won. Is this relatively easy?
Finally, how can I get everything insured? The post office said they don't insure anything that goes overseas. Would I just take the evelope to Fedex? Thanks~ |
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Evil Boweevil
Joined: 20 Oct 2007
Location: Fort Worth, Texas
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| Posted: Wed Nov 28, 2007 9:47 pm Post subject: Re: how can i get a money order? |
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| xCustomx wrote: |
I went to the post office this afternoon because I was told that the fee to get a money order there is cheaper than at a bank. Of course the post office said that they don't issue money orders and that I would have to go to the bank. When my co-teacher called Kookmin bank, they said they don't issue money orders, even though the bank she called was on the Western Union website. Since I work at a public school I don't have a lot of time to get this taken care of, unless I get permission to leave work early. I've read other posts about going to KEB and getting a money order with a fee of between 5-15,000 won. Is this relatively easy?
Finally, how can I get everything insured? The post office said they don't insure anything that goes overseas. Would I just take the evelope to Fedex? Thanks~ |
I had to get a money order for $38 when I got my background check and got it at KEB. It was about 5000 won. Google 'Korea Exchange Bank' and you'll get the number on their website for the English service. Tell them where you live and ask them if the branch can do it. I live in the sticks and it wasn't a problem |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Wed Nov 28, 2007 10:10 pm Post subject: Re: how can i get a money order? |
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| xCustomx wrote: |
I went to the post office this afternoon because I was told that the fee to get a money order there is cheaper than at a bank. Of course the post office said that they don't issue money orders and that I would have to go to the bank. When my co-teacher called Kookmin bank, they said they don't issue money orders, even though the bank she called was on the Western Union website. Since I work at a public school I don't have a lot of time to get this taken care of, unless I get permission to leave work early. I've read other posts about going to KEB and getting a money order with a fee of between 5-15,000 won. Is this relatively easy?
Finally, how can I get everything insured? The post office said they don't insure anything that goes overseas. Would I just take the evelope to Fedex? Thanks~ |
I think there was something lost in the translation. Any bank that does forex can do a money order. The cost is about 5000 won.
You don't need to insure it. It is already trackable, traceable and replaceable if lost or stolen.
Stick it in an envelope and mail it home. If you are really worried about it, use EMS (express mail service - postoffice to door and signature required). Also trackable via the post office website.
If you are sending it to your bank, make it payable to yourself and endorse the back
"FOR DEPOSIT ONLY to the account of the payee, account # nnnnnnnnn".
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dogshed
Joined: 28 Apr 2006
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| Posted: Wed Nov 28, 2007 10:19 pm Post subject: |
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I just sent one for $3198.98 and the fee was 15000 won. You get the
remittance rate which is better than the cash rate and you don't
have to worry about any hidden fees.
I can't find my paper, but I think $500 and less is 5000 won.
If one of my accounts in the states will receive a wire without
charging a fee then I might start sending from the KEB account
I just set up. |
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Evil Boweevil
Joined: 20 Oct 2007
Location: Fort Worth, Texas
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| Posted: Wed Nov 28, 2007 10:57 pm Post subject: |
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| dogshed wrote: |
I just sent one for $3198.98 and the fee was 15000 won. You get the
remittance rate which is better than the cash rate and you don't
have to worry about any hidden fees.
I can't find my paper, but I think $500 and less is 5000 won.
If one of my accounts in the states will receive a wire without
charging a fee then I might start sending from the KEB account
I just set up. |
Can you get the notoriously elusive "international, foreigner-friendly, atm/debit card" there? |
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icnelly
Joined: 25 Jan 2006
Location: Bucheon
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| Posted: Thu Nov 29, 2007 4:59 am Post subject: Re: how can i get a money order? |
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| ttompatz wrote: |
| xCustomx wrote: |
I went to the post office this afternoon because I was told that the fee to get a money order there is cheaper than at a bank. Of course the post office said that they don't issue money orders and that I would have to go to the bank. When my co-teacher called Kookmin bank, they said they don't issue money orders, even though the bank she called was on the Western Union website. Since I work at a public school I don't have a lot of time to get this taken care of, unless I get permission to leave work early. I've read other posts about going to KEB and getting a money order with a fee of between 5-15,000 won. Is this relatively easy?
Finally, how can I get everything insured? The post office said they don't insure anything that goes overseas. Would I just take the evelope to Fedex? Thanks~ |
I think there was something lost in the translation. Any bank that does forex can do a money order. The cost is about 5000 won.
You don't need to insure it. It is already trackable, traceable and replaceable if lost or stolen.
Stick it in an envelope and mail it home. If you are really worried about it, use EMS (express mail service - postoffice to door and signature required). Also trackable via the post office website.
If you are sending it to your bank, make it payable to yourself and endorse the back
"FOR DEPOSIT ONLY to the account of the payee, account # nnnnnnnnn".
. |
You don't have to get any type of special money order/bank certified check when sending them home? Korean money orders from KEB can be deposited no problem in the U.S? |
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tzechuk
Joined: 20 Dec 2004
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| Posted: Thu Nov 29, 2007 5:25 am Post subject: |
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In Korea, they are called *banker's cheque*, or *banker's draft*.
May be they just didn't know what a *money order* was. |
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icnelly
Joined: 25 Jan 2006
Location: Bucheon
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| Posted: Mon Feb 18, 2008 1:11 am Post subject: |
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| tzechuk wrote: |
In Korea, they are called *banker's cheque*, or *banker's draft*.
May be they just didn't know what a *money order* was. |
Here's a pic of a KEB banker's check from the American Embassy's website, and it has the Korean for it as well: mihwa-song-guem-supyo. |
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denistron
Joined: 21 Oct 2006
Location: Busan
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| Posted: Mon May 19, 2008 8:17 pm Post subject: |
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Can you get them at KB bank?
If not , what should I do, walk over to KEB with a huge wad of cash?
Is there a limit to how much you can send? What do you think they would do if I asked for W10,000,000 money order? I'm guessing it wont be pretty. |
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VanIslander
Joined: 18 Aug 2003
Location: Geoje, Hadong, Tongyeong,... now in a small coastal island town outside Gyeongsangnamdo!
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| Posted: Mon May 19, 2008 8:20 pm Post subject: |
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| tzechuk wrote: |
In Korea, they are called *banker's cheque*..
May be they just didn't know what a *money order* was. |
yes, that has been my experience
post office and bank were not helpful until I said "bank check", to which an "ah" was made and problem solved |
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denistron
Joined: 21 Oct 2006
Location: Busan
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| Posted: Tue May 20, 2008 4:38 am Post subject: |
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Basically, I want to send a large sum, but I don't have pay stubs and such things. So, I'm trying to find a hassle free and cheap way to send it. Are money orders the way to go?
If you know the answer you will win a fantastic prize! |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Tue May 20, 2008 5:57 am Post subject: |
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| denistron wrote: |
Basically, I want to send a large sum, but I don't have pay stubs and such things. So, I'm trying to find a hassle free and cheap way to send it. Are money orders the way to go?
If you know the answer you will win a fantastic prize! |
Currency exchange or money orders under US$1000 do NOT need a stamp in your passport or proof of income. (you do need to show your passport as ID).
Over $1000 and up to $10,000 you still don't need to prove income. Just a small stamp on the back page of your passport (as allowed by your embassy here to meet forex restrictions).
10 banks, 10 bank drafts @$1000 each and you have 10 grand.
11 banks and a small stamp and you can send US$20,000.
How much do you need to send anyway?
It can't be that much.
The fees will work out to about 1% over the exchange rate.
. |
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Flash Ipanema
Joined: 29 Sep 2006
Location: Seoul
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| Posted: Sat Jul 05, 2008 9:42 am Post subject: |
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| Everyone always talks about going to KB or KEB, but do all banks do money orders? I bank with Shinhan so I would prefer not to withdraw 1.5 million won in cash, but rather get a bank check and have the money taken straight out of my account. Can I do that or do I have to get cash? |
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yingwenlaoshi
Joined: 12 Feb 2007
Location: ... location, location!
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| Posted: Sat Jul 05, 2008 9:53 am Post subject: |
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| I got a money order by Western Union and picked it up at KB or NH Bank. Can't remember which. Whichever it was, you can go to any their branches. I think it was KB. |
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moosehead
Joined: 05 May 2007
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| Posted: Sat Jul 05, 2008 8:18 pm Post subject: Re: how can i get a money order? |
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| xCustomx wrote: |
Finally, how can I get everything insured? The post office said they don't insure anything that goes overseas. Would I just take the evelope to Fedex? Thanks~ |
that's a total crock - I just went to the post office on Friday to mail a box with gifts in it for friends - I insured it for $100.00 - and it went surface mail, nothing special.
maybe you were talking to one of those Ks to whom every q a foreigner ask the answer is "no"  |
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