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i4NI
Joined: 17 May 2008
Location: Seoul
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 Posted: Sat Jul 19, 2008 9:51 pm Post subject: For those that bank with KB |
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I recently had $405 wired to me, but only 380,000 won was in my account. Is KB taking out that much money for a simple wire transfer???
I wanted to hear your experiences first before going to the bank and asking firsthand.
Thanks |
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NeonRain
Joined: 30 Jan 2007
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| Posted: Sat Jul 19, 2008 9:58 pm Post subject: |
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I've never had a problem with local transfers. Was it from one Korean accounts to another?
If it wasn't international then you should complain. |
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i4NI
Joined: 17 May 2008
Location: Seoul
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| Posted: Sat Jul 19, 2008 10:05 pm Post subject: |
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| America to here... Wells Fargo charged me $20, but $405 was still sent out. |
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denistron
Joined: 21 Oct 2006
Location: Busan
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| Posted: Sat Jul 19, 2008 10:07 pm Post subject: |
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You don't pay any wire transfer. The person sending it to you pays. The fee is under 2,000 coming from another bank within the country. So if someone sends you 10,000, you should get exactly that amount, and they pay an additional fee.
Same if it comes from abroad, but you should factor-in exchange rates. |
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i4NI
Joined: 17 May 2008
Location: Seoul
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| Posted: Sat Jul 19, 2008 10:14 pm Post subject: |
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| Right i'm aware of that. Just wondering if KB takes a fee for receiving the wire as well. But even so, 30,000 won seems excessive |
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Skippy
Joined: 18 Jan 2003
Location: Daejeon
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| Posted: Sun Jul 20, 2008 1:12 am Post subject: |
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| check your exchange rate at the KB site. Must lost some money in the transfer due to rates. |
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NeonRain
Joined: 30 Jan 2007
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| Posted: Sun Jul 20, 2008 1:40 am Post subject: |
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| Then probably lost money with the exchange rate. I have never received money from abroad but I have sent often and they charge a commission of 15 000won and my bank at home takes a commission as well, since it is treated as a currency exchange or something to that effect. Hope that helps a little bit. |
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Mr. Pink
Joined: 21 Oct 2003
Location: China
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| Posted: Sun Jul 20, 2008 3:35 pm Post subject: |
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| denistron wrote: |
You don't pay any wire transfer. The person sending it to you pays. The fee is under 2,000 coming from another bank within the country. So if someone sends you 10,000, you should get exactly that amount, and they pay an additional fee.
Same if it comes from abroad, but you should factor-in exchange rates. |
This is wrong information. There are two ways to do a wire transfer. The sender pays BOTH fees, or the sender only pays the fee at their bank, and you pay the incoming fee.
My guess is that the sender did not pay for your fee, hence the bank took it out. It works the reverse when you send money home, if you don't pay both fees, chances are the bank takes out $20 or so on the other end. |
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