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BANK CHECK as a way of remitting money

 
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maymicrosoftburn



Joined: 03 Jul 2008

PostPosted: Tue Aug 11, 2009 5:20 am    Post subject: BANK CHECK as a way of remitting money Reply with quote

Another teacher suggested that I use a certified bank check to send money back home.

Cost = approx. W15,000

(plus, you might dodge your bank's incoming funds fees)


Where can I get a bank check like this?


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iammac2002



Joined: 12 Jun 2009
Location: 'n Beter plek.

PostPosted: Tue Aug 11, 2009 7:27 am    Post subject: Reply with quote

You can get cheques at the ATM, instead of money, if that's what you're talking about.
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maymicrosoftburn



Joined: 03 Jul 2008

PostPosted: Tue Aug 11, 2009 7:39 am    Post subject: Reply with quote

...and a check like that, from the ATM, is accepted by foreign banks for deposit?

(also: any chance that you can get a bank check without having an account?)
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ttompatz



Joined: 05 Sep 2005
Location: Kwangju, South Korea

PostPosted: Tue Aug 11, 2009 8:56 am    Post subject: Reply with quote

maymicrosoftburn wrote:
...and a check like that, from the ATM, is accepted by foreign banks for deposit?

(also: any chance that you can get a bank check without having an account?)


No, a check like that is NOT accepted outside of Korea.

What you are looking for is a:
Cashiers check, money order, bank draft (same thing - just different names).

They are available at the foreign exchange desk in any bank.
The charges run from 5000 - 15000 won (depending on the bank, value of the check (simple money orders are limited to $1500 but a cashiers check can be up to about a million) and the currency you are sending (won, US$, CAD, AUD, NZD, Pounds, etc).

You do NOT need a bank account to get one. You DO need your passport.
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