Korean Job Discussion Forums

Girlygirl · Joined: 31 Oct 2008

Hi all,

I did a search on this topic and all I got was old info including info from 2004 in the FAQs sticky. Updated info is appreciated. I'm asking now for future reference.

1) The only way I know of sending money to Canada is thru a bank. I'm curious to know the other available options?

2) Is this true that there's no international online money wiring? (I've been told by my Koean co-teachers only domestic online wiring)

Thanks a lot.

JBomb · Joined: 16 Oct 2008

have you looked up Western Union? I am pretty sure they may be able to do it. Not sure about what the fee would be though.

espoir · Joined: 09 Oct 2008 Location: Incheon, South Korea

Well you could change your money into travellers cheques and send it that way. If you set up your bank account to include online banking you will be able to set up a remittance that way as well. setting up an overseas remittance would also enable you to do this same function through atm's, but this all depends on the bank you are with here.

enns · Joined: 02 May 2006

Best method I've found is through an ATM transfer with KB Star. Go to a branch, set it up, and then you can send it directly to home for only a 5,000 won fee each time. I've also heard that banks are issuing international debit cards again, so get 2 and send one home for a relative to withdraw from.

egrog1717 · Joined: 12 Mar 2008

D.D. · Joined: 29 May 2008

Make sure the money is sent in Canadian funds. Is the bank machine transfer sending Korean or Canadian.

Best way is to go to the desk and transfer Canadian funds as Canadian banks will rip you off on exchange if they get Korean.

Big Mac · Joined: 17 Sep 2005

You can set up online banking with Korea Exchange Bank (KEB). If you bring in your home banking details with you when you set it up, they will program your details into the computer and from then on you will be able to wire money online.

KEB charges 8,000 Won on this end and depending on your bank back home you might have a service charge to receive it. Mine is with the Royal Bank and they charge $15 to receive a wire transfer.

Not all banks in Korea will do this, but I know for sure KEB allows you to buy money orders in Canadian Dollars. If the amount is under 1 million Won they will charge you 5,000 Won if it is over 1 million won it will be 10,000 Won. You can mail the money order home to someone you trust (make it out in their name so only they can cash it) and have them deposit it into your account. It's the cheapest option because your home bank will not charge you a receiving fee. If the money order gets lost in the mail, you have a receipt and can get the money back.

Traveller's cheques require you to sign them in front of the person cashing them, so that will not work unless you go to Canada with the cheques.

morph33 · Joined: 14 Dec 2008

KB also provides online transfer of funds to ur bank back home...

however, i have help from my fiance (who is korean) when i send money home... so ur best bet would be KEB.... online is definitely the way to go... for 3 years i sent money home using a hana bank below my hagwon... even though i had gone there once a month for 3 years, they still couldn't catch on to why i was there.... and the tellers always seemed so bothered to do the transaction for me...

this may be just a personal experience, but i'm definitely lovin' the online feature... just make sure all your numbers are correct and you should be alright

good luck!!

morph33 · Joined: 14 Dec 2008

KB also provides online transfer of funds to ur bank back home...

however, i have help from my fiance (who is korean) when i send money home... so ur best bet would be KEB.... online is definitely the way to go... for 3 years i sent money home using a hana bank below my hagwon... even though i had gone there once a month for 3 years, they still couldn't catch on to why i was there.... and the tellers always seemed so bothered to do the transaction for me...

this may be just a personal experience, but i'm definitely lovin' the online feature... just make sure all your numbers are correct and you should be alright

good luck!!

morph33 · Joined: 14 Dec 2008

KB also provides online transfer of funds to ur bank back home...

however, i have help from my fiance (who is korean) when i send money home... so ur best bet would be KEB.... online is definitely the way to go... for 3 years i sent money home using a hana bank below my hagwon... even though i had gone there once a month for 3 years, they still couldn't catch on to why i was there.... and the tellers always seemed so bothered to do the transaction for me...

this may be just a personal experience, but i'm definitely lovin' the online feature... just make sure all your numbers are correct and you should be alright

good luck!!

morph33 · Joined: 14 Dec 2008

sorry for posting the same reply 3 times... i thought the comp had froze b/c the screen wouldn't advance....

sorry all!!