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eirrehs
Joined: 04 Sep 2007
Location: korea
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 Posted: Mon Apr 27, 2009 1:43 pm Post subject: saving money |
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i've had my money locked into a savings with kb bank for the last year. when i started the savings a korean friend came with me to help and i thought i got a good deal of 4.5 percent.
Now that my savings has matured i went back to the bank without my friend to discuss what to do next. i felt insulted when the man told me that my savings contract was for korean people and he seemed to wonder why i would have been given it.
2 weeks before going to the bank i received a text message from kb asking me if i wanted to invest in savings bonds at 5.7 percent. i realize my money would be locked up for 5 years but im not going anywhere so i thought good idea. i expressed interest and was told i can no longer purchase them. there wasn't a deadline in the text. is this true or is he simply trying to deter me from something he thinks should only be for koreans??
so basically im looking for a good bank that offers a decent interest rate without prejudice. where do you guys suggest?? |
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ChinaBoy
Joined: 17 Feb 2007
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| Posted: Mon Apr 27, 2009 2:10 pm Post subject: |
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KB* workers can be pretty rude. I went in there said "Hello", the girl said "Do you want an international ATM card?" I said "Can I get one?" She said "No."
wtf? |
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Dodgy Al
Joined: 15 May 2004
Location: Seoul
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| Posted: Mon Apr 27, 2009 2:43 pm Post subject: |
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| ChinaBoy wrote: |
| KB* workers can be pretty rude. I went in there said "Hello", the girl said "Do you want an international ATM card?" I said "Can I get one?" She said "No." |
Did you want one? I think she had you pegged. 
My savings with Woori matures in May, so I'm currently shopping around for the best interest rate. I heard the post office offers a good rate. Can anyone confirm? |
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eirrehs
Joined: 04 Sep 2007
Location: korea
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| Posted: Mon Apr 27, 2009 3:32 pm Post subject: |
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what was the interest rate worri bank gave you?
does anyone know bout savings bonds in korea? |
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Snowflake
Joined: 12 Dec 2006
Location: Seoul
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| Posted: Mon Apr 27, 2009 8:09 pm Post subject: |
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I don't have savings with them (yet) but I'd suggest going to KEB - they really seem to be the best bank for foreigners here. None of the "no international ATM cards for foreigners" crap or random policies plucked from the air.
Every member of staff I've dealt with has spoken English, even in the tiny branch I went to yesterday near my school.
Here's the link anyway:
http://www.keb.co.kr/netc/en/expat/spare.html
If all the foreigners here jumped ship and moved to KEB maybe banks like KB would start being a little nicer... |
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Jane
Joined: 01 Feb 2003
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| Posted: Mon Apr 27, 2009 8:17 pm Post subject: |
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I still remember the time I walked into Kookmin, and I asked to hook my account up to Internet banking, a pretty routine thing, I think.
The bank manager looked perplexed and said: "Why? You're a foreigner! Why would you need that?"
She was being totally serious too. She couldn't imagine what use I'd have for Internet banking. She never did do it for me.
Or, the time recently, when it took me 3 days to do a rountine international bank transfer. The guy even made me withdraw the full amount I wanted to transfer from the ATM machine and bring the cash to him. He refused to use my ATM card.
I think KB has gone of the deepend. |
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Snowflake
Joined: 12 Dec 2006
Location: Seoul
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| Posted: Mon Apr 27, 2009 8:25 pm Post subject: |
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| Jane wrote: |
Or, the time recently, when it took me 3 days to do a rountine international bank transfer. The guy even made me withdraw the full amount I wanted to transfer from the ATM machine and bring the cash to him. He refused to use my ATM card.
I think KB has gone of the deepend. |
I've heard that happening at KB before from a couple of people.
KEB!
Internet banking = check
International card = check
Easy transfers = check
Credit card = check
English speaking staff = check
Seriously - can't recommend them enough...if that wasn't clear... |
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air76
Joined: 13 Nov 2007
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| Posted: Mon Apr 27, 2009 11:56 pm Post subject: |
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| I second the notion. KEB has been great and treats you like a real human and not a space alien. |
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bogey666
Joined: 17 Mar 2008
Location: Korea, the ass free zone
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| Posted: Tue Apr 28, 2009 1:09 am Post subject: |
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| air76 wrote: |
| I second the notion. KEB has been great and treats you like a real human and not a space alien. |
by design, because they're consciusly trying to market themselves to expats.
when I had choices last year, I chose KEB among several because I recognized it as a major player in the foreign exchange market, a background from which I cam from, so I figured it would be more cosmopolitan/international than the others. It was a great choice.
I really don't understand why EVERY SINGLE EXPAT here would NOT bank with KEB.
Marketing efforts and service like theirs should be REWARDED. |
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Leslie Cheswyck
Joined: 31 May 2003
Location: University of Western Chile
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| Posted: Tue Apr 28, 2009 2:45 am Post subject: |
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| Jane wrote: |
I still remember the time I walked into Kookmin, and I asked to hook my account up to Internet banking, a pretty routine thing, I think.
The bank manager looked perplexed and said: "Why? You're a foreigner! Why would you need that?"
She was being totally serious too. She couldn't imagine what use I'd have for Internet banking. She never did do it for me.
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Makes me think of those Geico ads.
http://www.youtube.com/watch?v=cRRlEyplGQ8&feature=related
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Looney
Joined: 23 Dec 2008
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| Posted: Tue Apr 28, 2009 7:56 am Post subject: Re: saving money |
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| eirrehs wrote: |
so basically im looking for a good bank that offers a decent interest rate without prejudice. where do you guys suggest?? |
recently opened an account with Standard Chartered (Itaewon)......a dual instant access savings account and you get an International debit card (that works!) to boot ,plus free withdrawals after banking hours. Rate of interest is variable, this months rate was 4.1% which is very good. I don't think you can get many fixed term accounts even for that rate especially recently..... could be wrong....but pleased so far.
If not SC, then KEB (as mentioned) is the only Korean bank that I would use for my banking.I have a normal cash card account with them also and never had any problems. Just with SC I got a better overall package so use them moreso now.
Last edited by Looney on Tue Apr 28, 2009 8:03 am; edited 1 time in total |
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bogey666
Joined: 17 Mar 2008
Location: Korea, the ass free zone
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| Posted: Tue Apr 28, 2009 8:03 am Post subject: |
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that's because Standard Chartered isn't a "Korean" bank.
it's a British bank with many branches, including Korea (kind of like HSBC)
it's a "global" bank, if you will.
KEB isn't - which is why I give it as much "credit" as I do. |
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Looney
Joined: 23 Dec 2008
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| Posted: Tue Apr 28, 2009 8:08 am Post subject: |
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| bogey666 wrote: |
that's because Standard Chartered isn't a "Korean" bank.
it's a British bank with many branches, including Korea (kind of like HSBC)
it's a "global" bank, if you will.
KEB isn't - which is why I give it as much "credit" as I do. |
don't disagree with that notion at all. As I said I have a KEB account also and have had no problems whatsoever with them either. |
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