Korean Job Discussion Forums

[Sapa]

I just sent home 3.5 million won at Woori bank. It's the first time I have sent money back. They charged around 48,000 won. Made up of 3 different charges, 15k, 10k and 25k.
Does this sound right? I went in thinking the fee would only be about 12,000 won.

Is it also correct that they must exchange it into UKP or USD first before sending it home. I just though I could send it as Korean won and let my UK bank account do the exchanging of Won to �.

I read before on this forum of what a pain in the ass this could be. It took me 1hour 40 minutes to do this, but then they did give me a nice present of plastic zip lock bags for my wait, which more than made up for it!

[stuck]

I think I pay about 17,000 won with Woori. I set up the ATM international transfer option so it's really straightforward and takes about a minute to send home money each month. I send pounds home and I get charged 6 pounds on my UK account. Next time you go back to Woori, ask them to set this up for you.

[teachergirltoo]

Wow, that is steep, but each bank has its own rate. I have an account with KB set up so I can transfer from my ATM. The fee is only 5,000w. I have the option of sending in Korean won or dollars. I highly recommend it because I never have to worry about going into the bank.

If you already have another bank account at another bank, you can do what my co-worker did. She set up a KB account with ATM ability for transfering overseas, and then just puts whatever money she needs in that account once a month and sends it. She didn't want to switch banks completely because she had automatic withdrawls happening from the primary bank and that would have been a lot of work to change.

[Davew125]

48000 sounds much too high. I pay as much as Stuck with my bank (KNB) and my UK account also charges me 6pound to receive it.

The getting changed into US dollars may well be right though. I asked them to explain the transfer fees and how the arrived at the final amount at my bank and after several phone calls by the really helpful guy that was there it did turrn out that the Won was tramsfered into $US and then onto British pounds. Seems a bit of a cummbersome way to do this but i'm sure theres a reason for it.......

[dimnd]

sent money from NHP
20,000 for commission fee
18,000 for wiring fee
sent 3.9 million won home...few weeks ago
then bank at home charges 10 for the receiving end

[PatrickM]

[OculisOrbis]

Sucks, but it sounds right and its your home account that is causing the problems - not the Korean bank.

15 000 would be the Korean banks wiring fee.

10 000 would be the intermediary bank in your home country charging you to pass the money to your home bank because your korean bank doesnt have an agreement directly with your home bank.

25 000 will be the fee charged by your home bank to accept the wire transfer.

Change your home bank and you could save up to 35 000 on your next transfer.

[ABC KID]