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pjmancktelow
Joined: 07 Oct 2007
Location: Seoul
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 Posted: Tue Sep 23, 2008 7:51 pm Post subject: Opening a second bank account |
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| I want to open a second bank account, is this an easy task. Do they care here if we have more than one account. I only want to use it for splitting my wages so I dont spend a portion of it. I did this back home, im weak with money. Also there is no KEB near me where I live. Only by my work. So I want to open a KB or Shinhan account. Which do people recommend? |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Tue Sep 23, 2008 8:06 pm Post subject: Re: Opening a second bank account |
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| pjmancktelow wrote: |
| I want to open a second bank account, is this an easy task. Do they care here if we have more than one account. I only want to use it for splitting my wages so I dont spend a portion of it. I did this back home, im weak with money. Also there is no KEB near me where I live. Only by my work. So I want to open a KB or Shinhan account. Which do people recommend? |
If you have your ARC there is no problem opening up another account in a different bank (assuming you are able to fill in the form or the teller can assist you).
I don't deal with either of the 2 banks you listed so I can't offer an educated opinion as to which one is better.
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Kevtron
Joined: 17 Jul 2007
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| Posted: Tue Sep 23, 2008 9:05 pm Post subject: |
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I've got an account with 2 different banks. No problems getting em with the ARC card as the above poster said.
If you have an IBK near you I'd suggest them as they tend to speak decent English, and hire cute tellers  |
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RJjr
Joined: 17 Aug 2006
Location: Turning on a Lamp
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| Posted: Tue Sep 23, 2008 9:40 pm Post subject: Re: Opening a second bank account |
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| pjmancktelow wrote: |
| I want to open a second bank account, is this an easy task. Do they care here if we have more than one account. I only want to use it for splitting my wages so I dont spend a portion of it. I did this back home, im weak with money. Also there is no KEB near me where I live. Only by my work. So I want to open a KB or Shinhan account. Which do people recommend? |
I have accounts at Shinhan and KB that I opened on the same day. KB has so many branches and usually someone who can speak English. |
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thatwhitegirl
Joined: 31 Jan 2007
Location: ROK
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| Posted: Tue Sep 23, 2008 9:50 pm Post subject: |
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| Is it KB that allows you to transfer money back home from the ATM? |
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maddog
Joined: 08 Dec 2005
Location: Daegu
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| Posted: Tue Sep 23, 2008 10:06 pm Post subject: Re: Opening a second bank account |
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| pjmancktelow wrote: |
| I want to open a second bank account, is this an easy task. Do they care here if we have more than one account. I only want to use it for splitting my wages so I dont spend a portion of it. I did this back home, im weak with money. Also there is no KEB near me where I live. Only by my work. So I want to open a KB or Shinhan account. Which do people recommend? |
If your doing it do send home money earned from privates, be careful. I originally had an account with Wooribank, but when I moved to Daegu I opened an account with Daegu Bank.
They instantly noticed that I already had an account with Wooribank, then ran a whole bunch of checks. I really felt like I was being treated like a criminal. They then made a whole song-and-dance about the fact that, even though I had two bank accounts, I was still limited to sending home no more than my monthly salary. I blame Wooribank, as they seem to treat all foreigners with suspicion. They used to stamp my passport every time I sent money home, saying "It's the law". |
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djmarcus
Joined: 12 Jan 2006
Location: Seoul
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| Posted: Tue Sep 23, 2008 10:54 pm Post subject: Re: Opening a second bank account |
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| maddog wrote: |
If your doing it do send home money earned from privates, be careful. I originally had an account with Wooribank, but when I moved to Daegu I opened an account with Daegu Bank.
They instantly noticed that I already had an account with Wooribank, then ran a whole bunch of checks. I really felt like I was being treated like a criminal. They then made a whole song-and-dance about the fact that, even though I had two bank accounts, I was still limited to sending home no more than my monthly salary. I blame Wooribank, as they seem to treat all foreigners with suspicion. They used to stamp my passport every time I sent money home, saying "It's the law". |
Hi Maddog, if you are not employed full time by a firm, which teachers most likely aren't, then you are limited to about 1 million won that you can send overseas (each bank may have a different limit) and your passport must be stamped each time. I know this because I also had the same problem until I was hired by a korean company (doing IT support instead of teaching). Now they don't stamp my passport each time and I don't have a limit. So I don't think they were intentionally mistreating you because you were a foreigner.
But I think these days you don't want to send that much money back anyways because the exchange rate is not in your favor. Well, at least for me, being a US citizen, sending Korean dough to america means losing money. |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Tue Sep 23, 2008 11:09 pm Post subject: Re: Opening a second bank account |
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| djmarcus wrote: |
Hi Maddog, if you are not employed full time by a firm, which teachers most likely aren't, then you are limited to about 1 million won that you can send overseas (each bank may have a different limit) and your passport must be stamped each time. I know this because I also had the same problem until I was hired by a korean company (doing IT support instead of teaching). Now they don't stamp my passport each time and I don't have a limit. So I don't think they were intentionally mistreating you because you were a foreigner.
But I think these days you don't want to send that much money back anyways because the exchange rate is not in your favor. Well, at least for me, being a US citizen, sending Korean dough to america means losing money. |
I've sent close to 10 million won on a couple of occasions. You just have to prove your income by just showing them a bankbook with your schools deposit, or a pay stub, or tax return. |
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pjmancktelow
Joined: 07 Oct 2007
Location: Seoul
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| Posted: Wed Sep 24, 2008 5:22 pm Post subject: |
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| its more about keeping my spending from my saving seperate. i spend what i see unfortunately. im told the shinhan bank near me has a vip section where they speak perfect english. but your correct there are kb's everywhere. thanks for all the advice. ill do it next week. |
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wings
Joined: 09 Nov 2006
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| Posted: Wed Sep 24, 2008 5:36 pm Post subject: |
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I've sent money home from 2 different Hana Banks, they have never asked me to prove my income, 1 bank stamped mypassport, the other didn't.
The Hana bank in Itaewon seems to know what the rules are; I sent home 7 million on 1 day, no proof of income, no passport stamp. |
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dean_burrito
Joined: 12 Jun 2007
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| Posted: Wed Sep 24, 2008 6:02 pm Post subject: |
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I have two bank accounts. It's no problem. The only thing that could be a problem is that you are only allowed to transfer money out of the country from one bank account per year.
Maybe this is different if KB let's you wire money home from an ATM since no one would be inspecting your passport.
If this is true I may up for switching banks myself. |
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polonius
Joined: 05 Jun 2004
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| Posted: Wed Sep 24, 2008 6:05 pm Post subject: |
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| thatwhitegirl wrote: |
| Is it KB that allows you to transfer money back home from the ATM? |
I just signed up for this with Shinhan, not sure about KB. |
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Easter Clark
Joined: 18 Nov 2007
Location: Hiding from Yie Eun-woong
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| Posted: Wed Sep 24, 2008 6:14 pm Post subject: |
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| dean_burrito wrote: |
The only thing that could be a problem is that you are only allowed to transfer money out of the country from one bank account per year.
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Really? So if I move to another city, do I have to close my account with the KEB bank here before I can open another account at a different bank in order to send money home?
How does that work if you move to a new city but want to stay with the same banking company (like KEB)? |
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OiGirl
Joined: 23 Jan 2003
Location: Hoke-y-gun
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| Posted: Wed Sep 24, 2008 6:24 pm Post subject: Re: Opening a second bank account |
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| djmarcus wrote: |
| Hi Maddog, if you are not employed full time by a firm, which teachers most likely aren't, then you are limited to about 1 million won that you can send overseas (each bank may have a different limit) and your passport must be stamped each time. I know this because I also had the same problem until I was hired by a korean company (doing IT support instead of teaching). Now they don't stamp my passport each time and I don't have a limit. So I don't think they were intentionally mistreating you because you were a foreigner. |
It's just not universally true. Maybe you need a new bank. I am not employed full-time, send money home in 1.4 million chunks or so, and haven't had my passport stamped by the bank since 2000 or so. |
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spliff
Joined: 19 Jan 2004
Location: Khon Kaen, Thailand
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| Posted: Wed Sep 24, 2008 6:27 pm Post subject: |
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| thatwhitegirl wrote: |
| Is it KB that allows you to transfer money back home from the ATM? |
I can transfer from my com, anywhere anytime. |
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