Korean Job Discussion Forums

[pidgin]

Are there any dangers with leaving a bank account (with say a mere 10 or 15 million won) while out of the country for a few years?

Any pitfalls or banks to avoid?

Any amounts to stay under?

Any laws, rules or tax issues to be concerned about?

It seems as easy as pee, but I've never done it before.

I know a few people that have left one for a limited amount of time (a year or so).

thanks for any experiences, advice or recommended banks.

[Xuanzang]

A bank with decent internet banking so you can get the money out if need be. I`d say KEB with overseas remittance enabled or HSBC with their high interest account. You want a stable bank and it doesnt get any better than those two.

I have one of these: http://www.hsbc.co.kr/1/2/personal/savings/money-market-deposit-account

[ChinaBoy]

if your bank merges and then it's years before you can get back to check on it, you could have some hassles.. not like you'd lose it, though

[buck236]

I don't know your nationality or what your future plans are but if you are American and think that there is a slight chance of working for the federal government then you should close the bank account. When they do a background check on you they will inquire about all your finances and having continuing financial interests in a foreign country sends up a red flag during the search (they consider having an open bank account as a continuing financial interest even if it hasn't been touched for years).