Korean Job Discussion Forums

[superacidjax]

I could probably answer this question myself, but I thought I'd throw it out there for all of you guys.. My new school is going to go with me to open a bank account soon. They insist that it has to be KB, likely because that's the bank the school uses. I don't particularly like KB and have an account already at another bank (KEB.) The school insists that "I must use KB" for whatever reason.

In the interests of not wanting to get into a banking debate with the school over something relatively minor, I decided to simply have an automatic transfer set up from KB to my "real" bank each month the day after I get paid.. Is there anything problematic with that strategy?

I HATE it when a school tries to tell me that things aren't possible (such as Visa check cards that actually work) and the ability to use whatever bank I want. It's interesting how Koreans seem to think they know more about expat banking than actual expats. I for one would have a difficult time explaining all of the money transfer options available to the Mexican immigrant population back in the US, because I don't commonly use services for that segment of the community.

My director tried to tell me that a Visa check card is impossible for foreigners.. "No credit cards for foreigners!" lol.. first, it isn't a "credit" card, secondly, I've had those cards in Korea before. Of course, credit cards ARE possible for foreigners.. but that's another topic.

It's annoying to have to have an extra bank account just because I'm "supposed" to have KB. The school, in a bid to be helpful is sending one of the Korean staff with me to the local KB to open an account, but the crazy thing is that the staff member knows less about expat banking than I do, so I'm likely to get stuck with a crap account.

So, the money transfer into my bank of choice is the better solution right? No, I'm NOT going to have a discussion with the director. There's no point in trying to chance her mind, not to mention it's wise to choose one's battles.

What do you guys think?

[roadwork]

Is this one of those after school programs set up in a public school?

[superacidjax]

Nope, just a "normal" hakwon.

[lsrupert]

It's probably because if you have an account at a different bank, they would have to pay a fee to transfer money to your account. At least, that's what I've been told at my school. If they transfer from a KB account to other KB accounts, they don't have to pay the fee.

[superacidjax]

[littlelisa]

I have the same thing with my school (not an afterschool program, not a hagwon, a regular school). They insist we use Hana bank, which I don't like. I also have another account, and will use the Hana bank one for every day things in Korea, but will transfer all my savings each month to my KEB account. At least Hana bank will set up internet banking etc for me and give me a card that I can use in stores, though only locally in Korea. They refused to give those things to some of my other coworkers. The same branch, the same bank. Nothing is ever standard, is it?

Turns out even the director of the immersion program at the school had to open a new account at Hana bank, and all the Korean teachers too.

[mysterious700]

[English Matt]

[esetters21]

KEB now has the same "no international Visa check card for foreigners" policy as the rest of the banks here. They will give you an international atm/debit card, however which is better than most.

You can apply for a regular credit card if you are a full time uni teacher, and they are extending that to p.s. workers that have been at their current school for over a year until August. They also give a secured cc option. Hakwon employees do not qualify for either.

I just switched my banking to KEB and this was my experience with them.

[superacidjax]