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BrianInSuwon
Joined: 10 Jan 2006
Location: Korea
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 Posted: Tue Nov 11, 2008 2:11 am Post subject: sending money to the Phillipines |
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| What is the best way to send money to the Phillipines from South Korea? |
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Beej
Joined: 05 Mar 2005
Location: Eungam Loop
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| Posted: Tue Nov 11, 2008 2:27 am Post subject: |
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| Dont't do it. She has fifty foreign guys like you sending her 100 bucks a month. |
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ben-ja-mas
Joined: 20 Jan 2008
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| Posted: Tue Nov 11, 2008 2:33 am Post subject: |
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| Beej wrote: |
| Dont't do it. She has fifty foreign guys like you sending her 100 bucks a month. |
I heard that there is something called western union |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Tue Nov 11, 2008 2:36 am Post subject: Re: sending money to the Phillipines |
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| BrianInSuwon wrote: |
| What is the best way to send money to the Phillipines from South Korea? |
KB* bank (NOT KEB) is the (primary) Western Union agent in Korea. There are about a million western union agent in the RP for her to get it.
Don't forget your passport when you go to send money. The service charge is about 22%.
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I-am-me
Joined: 21 Feb 2006
Location: Hermit Kingdom
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| Posted: Tue Nov 11, 2008 2:40 am Post subject: |
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| Are you sending money to a family member or girlfriend? One Australian guy got duped here recently after sending about $1000. When he showed up to meet the girl she disappeared. If its a family member W.U. is the best way. |
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Trevor
Joined: 16 Nov 2005
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| Posted: Tue Nov 11, 2008 2:50 am Post subject: Re: sending money to the Phillipines |
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Ttompatz,
What about just mailing travelers checks? I believe that is the normal way that workers in Korea (outside the ESL industry) send money home.
Relatively cheap, fast, reliable, and if they are lost or stolen you get your money back. 
| ttompatz wrote: |
| BrianInSuwon wrote: |
| What is the best way to send money to the Phillipines from South Korea? |
KB* bank (NOT KEB) is the (primary) Western Union agent in Korea. There are about a million western union agent in the RP for her to get it.
Don't forget your passport when you go to send money. The service charge is about 22%.
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Tue Nov 11, 2008 3:02 am Post subject: Re: sending money to the Phillipines |
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| Trevor wrote: |
Ttompatz,
What about just mailing travelers checks? I believe that is the normal way that workers in Korea (outside the ESL industry) send money home.
Relatively cheap, fast, reliable, and if they are lost or stolen you get your money back. |
NOPE. Not ones issued in Korea anyway.
You sign it when it is issued.
Once YOU counter sign it (the 2nd signature) your protection is gone and it is no different than mailing cash.
You are not supposed to countersign it until you cash it. The countersignature (in the presence of the person accepting it) is YOUR protection.
Better read the fine print or someone may discover a gold mine in your outgoing mail one day.
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Trevor
Joined: 16 Nov 2005
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| Posted: Tue Nov 11, 2008 3:14 am Post subject: Re: sending money to the Phillipines |
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Okay, fair enough, but no one is going to say anything about the validity of the signature UNLESS they are stolen. So, if you didn't countersign with the second signature, but a relative on the other side of the transaction happened to have a very similar signature....what's wrong with that strategy?
| ttompatz wrote: |
| Trevor wrote: |
Ttompatz,
What about just mailing travelers checks? I believe that is the normal way that workers in Korea (outside the ESL industry) send money home.
Relatively cheap, fast, reliable, and if they are lost or stolen you get your money back. |
NOPE. Not ones issued in Korea anyway.
You sign it when it is issued.
Once YOU counter sign it (the 2nd signature) your protection is gone and it is no different than mailing cash.
You are not supposed to countersign it until you cash it. The countersignature (in the presence of the person accepting it) is YOUR protection.
Better read the fine print or someone may discover a gold mine in your outgoing mail one day.
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traxxe
Joined: 21 Feb 2007
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| Posted: Tue Nov 11, 2008 3:57 am Post subject: |
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My wife opened up a bank account and we transfer money from my bank to it when we need to do such.
I usually do this so I don't have to go to money changers and can use plastic in the Phils when I'm there.
I just go to my Korean bank which is Kb and they transfer and there is just like a under 15k service charge. Sometimes they wave most of it because I know the main branch manager. If he is there he just brings me into his office and we talk drinking coffee (soju twice) while the staff treats me like I'm long lost royalty and cuts in front of line, etc.
Anyway, yoy can bank to bank transfer. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Tue Nov 11, 2008 2:23 pm Post subject: Re: sending money to the Phillipines |
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| Trevor wrote: |
Okay, fair enough, but no one is going to say anything about the validity of the signature UNLESS they are stolen. So, if you didn't countersign with the second signature, but a relative on the other side of the transaction happened to have a very similar signature....what's wrong with that strategy?
Nothing, other than forgery being a criminal offense in most countries.
Oh, and the person accepting the check is NOT obligated to take it, especially if the signatures are not spot on... that is THEIR protection when using T/Cs.
Oh, and T/Cs are a pain in the azz to cash in most of SE Asia, including the Philippines AND they usually get a lower rate at redemption.
| ttompatz wrote: |
| Trevor wrote: |
Ttompatz,
What about just mailing travelers checks? I believe that is the normal way that workers in Korea (outside the ESL industry) send money home.
Relatively cheap, fast, reliable, and if they are lost or stolen you get your money back. |
NOPE. Not ones issued in Korea anyway.
You sign it when it is issued.
Once YOU counter sign it (the 2nd signature) your protection is gone and it is no different than mailing cash.
You are not supposed to countersign it until you cash it. The countersignature (in the presence of the person accepting it) is YOUR protection.
Better read the fine print or someone may discover a gold mine in your outgoing mail one day.
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