Korean Job Discussion Forums

[mts07]

Hi, I need some replies asap.

I currently have over 10 000 dollars(over 5k pounds) in cash and heading back to the UK today.


I just called Customs and they informed me that I CANNOT take more than 10 000 dollars on the airplane EVEN IF I declare it. They informed me I need to get permission from my bank in Korea to take this money out. As the banks are closed I cannot get permission.

What are my alternatives ?

[Tobias]

If you're not coming back, then the answer is 'money belt' and a very long rail trip via Moscow. But even then it's risky.

You should have planned better. Signs are in every airport I've been in warning about this. Didn't you see those while coming here? 10,000 is about the max one can take from one country to another. This supposedly eliminates money laundering.

If you are returning, you can leave some here. It'll be here when you get back.

[mdspeakeasy]

I agree that the planning was poor - c'mon...
But there are a few more solutions to get you and your cash back to the UK.
Depending on how much you have over 10 grand here's a few options:
First make sure the stack that you're taking home is just under 10 grand total. They shouldn't give you a hassle if it's just under 10K - I just did this last month, not a problem

1. Leave what's left in your Korean Bank account and try to have it sent to your UK account from here. This'll be difficult without you being here. I've never done that. You'll certainly need a Korean friend here to help you.

2. Find a friend you really trust. Do you have one? - If it's a matter of 3 or 4 thousand bucks - do you think that Ajumma who worked at the hagwon with you all year and took you to the doctors when you were sick is really gonna rip you off. If yes, than don't do this but if you trust her - Leave the cash with her, or someone else you trust. Have them wire it to your overseas bank account. Again, I've never done this. Every bank is different and some may give your friend a hassle, then again, if it's only a couple thousand bucks, it may be able to be spread over a few transactions and no one will give a s##t.

3. Here's a bizarre one - could you put some of the money ONTO your credit card? Then you would have a credit with them...shot in the dark.

I have to wonder though - did you really go to the bank thinking "I'm leaving tomorrow and I'm taking all my money with me so just give it to me in cash"? - and they gave you in excess of 10 million won and you really thought you could just walk in and out of international customs with that kind of money and there wouldn't be a problem?

How bout this one - take 10 grand home and whatever you have left blow on cool duty free crap at the airport? Watches, Soju, Perfume...you could make a game out of it. See how long it takes to blow a million won, and then try to beat that record with the next million!

[samd]

Ferry to Japan, less security?

Western Union transfer?

[TBirdMG]

I brought home more than $16k US from my first year in the land of Sparkling...on the plane. I was a bit nervous, as I had strategically lined my clothing with packs of $100 bills along my legs and torso. Then I calmly walked through security, customs, and immigration. No problem. They asked me how much money I was carrying home, and I calmly replied about $3k in my wallet, which was true. They asked to see the wallet, I showed them, and then was waived through to the plane.

Upon re-entering the US, I ticked 'no' on the immigration/customs form regarding the importation of more than $10k...although it is LEGAL to do so. Customs just wants to make sure that it's not drug money, and then they may try to tax it if you haven't filed properly with the IRS.

Anyways, I cleared the LAX airport, went to my hotel, stripped down and removed my packets of cash, then took a shower. I then deposited the cash into my various bank accounts, about $3000 per week over a couple of months, and no problem. Money transfered.

[ytuque]

Do not violate the law! Your money can be seized, and you will have legal problems. The best option is electronic transfer. If you have time constraints you can get banks checks. You are required to declare this when you enter a country. Of course, you can mail the checks to yourself.

Do not enter a 3rd country with large amounts of cash! Bad things can happen to you.

[Konglishman]

Just wire the money home. Sure, there are a couple of fees involved, but come on. Its not that expensive to wire money. Besides, consider the great risks you are taking in carrying so much cash.

[teachingld2004]

Buy some travelers checks and mail them ho,me