Korean Job Discussion Forums

[heyhatty]

What is the best financial way to transfer large amounts of won to your American banking accounts?

[hockeyguy109]

Transfer directly from your Korean bank account to your USA bank account. It's way cheaper than Western Union. It costs 19,000 won for each transfer from my bank. You fill out a form at your Korean Bank (with your American bank details - routing number, address, etc) and then you can do it very easily each time.

[FreedomOffshore]

If you want to do an international wire transfer from Korea and keep the transfer rather private, I know of a service that will do that for you. But this should be for wire transfers of amounts that are valued at $5,000 USD and above.


FREEDOM

[heyhatty]

Well what is the service?

[ChinaBoy]

It's the service where you give him your money and he disappears because you wanted to keep it "private". What are you going to do, call the cops?

[Jammer113]

Don't forget about that other 'private' service that gets its assets frozen as the US cracks down on off-shore tax havens. That's a great service to use.

[Kikomom]

Send your mom a bank card and let her take your money.

[gregoriomills]

Wire transfer at YOUR bank is the best way. K banks give members better rates for exchange, and also a better rate for wire, rather than cash exchange. So with a 1250 exchange rate, to wire dollar to the US would be a rate of about 1260, rather than 1275 or so to buy US dollars cash. The transfer fees on the K side and US side are all flat rates. THen now charge 23,000 krw here, and about 17US in the states. Also, your bank might take out a 5-10 dollar flat rate to accept teh transfer. Exchange large amounts for a better deal!

[espoir]

[gregoriomills]