Korean Job Discussion Forums

[lifeinkorea]

I was wondering what the suggestions are with money issues in regards to leaving Korea. Since the exchange rate is terrible, I would like to keep money in won and was wondering if I could still keep my bank account.

When people leave, they have to give their ARC card and that is what the banks need to see when doing banking instead of the passport. Do they just re-issue you the same ARC card number when you come back into Korea?

If not, how do you prove the account is yours?

This is the first time I have had money to protect, lol, so I am clueless when it comes to this stuff. I know with PayPal, they said you can keep money in won, but how to get it out is another question. Looks like an added fee that is not needed if I can keep the money in won through banks here.

Another question kinda related to this, is Citibank here the same as Citibank in the states? Before coming to Korea, I heard something about it being different. I thought maybe if they were the same, then I could just transfer the money to an account there and use it back home.

[sarbonn]

Citibank here and Citibank back home don't talk to each other, at least according to my understanding. I never could get an official word on that from Citibank itself, but that's what people have been saying here on the boards.

Personally, when I leave here, I'm just going to transfer everything to dollars and take whatever rate I can get because I don't trust the banks in Korea to even give me my money right now. I know that sounds a bit paranoid, but I've had too many shady situations with money in Korea that I intend to make sure all my money is covered by the US federal protection laws as soon as possible.

[Xuanzang]

No relationship there. Just like HSBC USA and Korea have a connection in name only. I would suggest the KEB overseas remittance account, internet banking setup and then wire it to yourself when the financial seas calm down.

[OiGirl]

I know this is not a bank, but are AIG Korea and AIG in the US related? Is it safe to do business with AIG Korea these days?

[CeleryMan]

AIG Korea 'customer service' is a totally different animal.