| View previous topic :: View next topic |
| Author |
Message |
xCustomx
Joined: 06 Jan 2006
|
 Posted: Mon Apr 27, 2009 8:18 pm Post subject: What is the law re: stamping passport when exchanging money |
 |
|
| I tried to exchange some korean currency into $50 at my bank this afternoon and was told that I needed to bring my passport so they could stamp it and write how much money I was exchanging. I was told that it was the law and was refused any further service. I thought I read on here before that this "law" is often made up by the banks and that it doesn't actually exist. So, is it a law or isn't it? |
|
| Back to top |
|
 |
nobbyken
Joined: 07 Jun 2006
Location: Yongin ^^
|
| Posted: Mon Apr 27, 2009 8:30 pm Post subject: |
|
|
I don't know anything about laws, but I think that the Govt would want a measure in place to check that nobody on a tourist visa is making money to take home.
Maybe a chap in Itaewon can change it for you so you needn't bother the bank and their rules?
Sorry, just my thoughts and no definite answer to your question.
NK |
|
| Back to top |
|
|
mayorgc
Joined: 19 Oct 2008
|
| Posted: Mon Apr 27, 2009 8:49 pm Post subject: |
|
|
yah, it didn't make sense to me at first. I've exchanged money two times in Korean banks and both times they require either the passport or the arc.
But if you go to money exchange (I found one in Itaewon) they do it no questions asked. |
|
| Back to top |
|
|
Looney
Joined: 23 Dec 2008
|
| Posted: Mon Apr 27, 2009 8:56 pm Post subject: |
|
|
| mayorgc wrote: |
yah, it didn't make sense to me at first. I've exchanged money two times in Korean banks and both times they require either the passport or the arc.
But if you go to money exchange (I found one in Itaewon) they do it no questions asked. |
same in Namdaemun ('black market').....I think there's one in sinchon too by the Hyundai department store but not tried it. You get better exchange rates anyway usually. |
|
| Back to top |
|
|
Ruthdes
Joined: 16 Oct 2008
Location: Seoul
|
| Posted: Mon Apr 27, 2009 8:56 pm Post subject: |
|
|
| I brought my passport to the bank to exchange money (more than $50US) last year, but I'm pretty sure they didn't stamp it. I can't find anything that resembles a bank stamp in my passport. I can't prove it, but I doubt it's law. |
|
| Back to top |
|
|
OculisOrbis
Joined: 17 Jul 2006
|
| Posted: Mon Apr 27, 2009 9:13 pm Post subject: |
|
|
There is NO law about recording funds transfers in passports and it is actually AGAINST the law for them to write in or stamp your passport.
You dont own your passport -- your country does.
It is illegal for non-immigration related anything to touch your passport. It is between you and your country and if your not responsible with your PP then your country could just take it from you.
As for banks that say its the law - BS. They have computers so why can't they keep their own records if they have to know so badly? Refuse to let them write in it and if they dont provide you service then its time to change banks. Just walk out and find a bank that isnt retarded.
KEB is my recommendation to everyone.
Last edited by OculisOrbis on Mon Apr 27, 2009 9:36 pm; edited 1 time in total |
|
| Back to top |
|
|
Adventurer
Joined: 28 Jan 2006
|
| Posted: Mon Apr 27, 2009 9:25 pm Post subject: Re: What is the law re: stamping passport when exchanging mo |
|
|
| xCustomx wrote: |
| I tried to exchange some korean currency into $50 at my bank this afternoon and was told that I needed to bring my passport so they could stamp it and write how much money I was exchanging. I was told that it was the law and was refused any further service. I thought I read on here before that this "law" is often made up by the banks and that it doesn't actually exist. So, is it a law or isn't it? |
Damn, I thought that practice ended. It happened to me in the past, but they stopped doing that. Do not let anyone stamp your passport.
It is not legal. They are not border control, so if they say they want to stamp your passport since it not acceptable to do so since it's a travel document. It is the property of your government. |
|
| Back to top |
|
|
DJTwoTone
Joined: 11 Mar 2003
Location: Yangsan - I'm not sure where it is either
|
| Posted: Mon Apr 27, 2009 9:33 pm Post subject: |
|
|
| In Korea you are required to have ID to exchange money... You are not, however, required to produce a passport. You Alien Registration cad should be acceptable. If they don't like it, try a different bank. I'm sorry somewhere else would be happy to help you. |
|
| Back to top |
|
|
xCustomx
Joined: 06 Jan 2006
|
| Posted: Mon Apr 27, 2009 9:46 pm Post subject: |
|
|
This is at 제일 bank. I'm actually getting fed up with them, as they've screwed up a number of times. One of the worst things is them randomly shutting off my debit card after midnight. Just last weekend I tried to pay about 40,000won for dinner and drinks, only to have the cashier tell me the card wasn't working. I had cash, but it's annoying.
I told the bank employee that it was illegal for them to write in my passport, but he said it was Korean law to stamp how much I was changing. I offered to give my ARC and passport number, but he said they must stamp it. |
|
| Back to top |
|
|
Davew125
Joined: 11 Mar 2007
|
| Posted: Mon Apr 27, 2009 9:57 pm Post subject: |
|
|
| xCustomx wrote: |
This is at 제일 bank. I'm actually getting fed up with them, as they've screwed up a number of times. One of the worst things is them randomly shutting off my debit card after midnight. Just last weekend I tried to pay about 40,000won for dinner and drinks, only to have the cashier tell me the card wasn't working. I had cash, but it's annoying.
I told the bank employee that it was illegal for them to write in my passport, but he said it was Korean law to stamp how much I was changing. I offered to give my ARC and passport number, but he said they must stamp it. |
My bank (kyongnam bank ) does this as well and the same thing happened to me. when i asked them about it they said it was standard practice to shut off the cards, just while the computers 'reset' for the day(!), and after 30 minutes it should be back and running again. Its pretty poor service though and a real pain in the arse as well. |
|
| Back to top |
|
|
Yu_Bum_suk
Joined: 25 Dec 2004
|
| Posted: Mon Apr 27, 2009 10:00 pm Post subject: |
|
|
| OculisOrbis wrote: |
There is NO law about recording funds transfers in passports and it is actually AGAINST the law for them to write in or stamp your passport.
You dont own your passport -- your country does.
It is illegal for non-immigration related anything to touch your passport. It is between you and your country and if your not responsible with your PP then your country could just take it from you.
As for banks that say its the law - BS. They have computers so why can't they keep their own records if they have to know so badly? Refuse to let them write in it and if they dont provide you service then its time to change banks. Just walk out and find a bank that isnt retarded.
KEB is my recommendation to everyone. |
Exactly. If they have to ask for a passport, go somewhere else, like the airport. |
|
| Back to top |
|
|
Adventurer
Joined: 28 Jan 2006
|
| Posted: Mon Apr 27, 2009 10:37 pm Post subject: |
|
|
| Davew125 wrote: |
| xCustomx wrote: |
This is at 제일 bank. I'm actually getting fed up with them, as they've screwed up a number of times. One of the worst things is them randomly shutting off my debit card after midnight. Just last weekend I tried to pay about 40,000won for dinner and drinks, only to have the cashier tell me the card wasn't working. I had cash, but it's annoying.
I told the bank employee that it was illegal for them to write in my passport, but he said it was Korean law to stamp how much I was changing. I offered to give my ARC and passport number, but he said they must stamp it. |
My bank (kyongnam bank ) does this as well and the same thing happened to me. when i asked them about it they said it was standard practice to shut off the cards, just while the computers 'reset' for the day(!), and after 30 minutes it should be back and running again. Its pretty poor service though and a real pain in the arse as well. |
What country are you from? I think we should all put a stop to this.
The practice needs to end. I am all for us making sure this practice ends. We can contact our governments over this. |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
