Korean Job Discussion Forums

D-Jay · Joined: 24 Jun 2009

The guy at the bank told me that there is a new rule saying we need to bring in our passports if we want to exchange currency. In the past, my ARC has been sufficient. Anyway, he said he would exchange my money this one time without a passport (how kind Rolling Eyes

), but he said next time I need to remember to bring my passport.

Is this really a new rule? Or is it an old rule that I've been slipping by all this time? Or is it just a made-up tale from a guy who hates foreigners?

Xuanzang · Joined: 10 Apr 2007 Location: Sadang

I`ve been told that before. You`re not supposed to give your passport to anyone other your government or customs people for right of passage. Them wanting to write foreign currency exchange amounts inside is total crap.

crossmr · Joined: 22 Nov 2008 Location: Hwayangdong, Seoul

made up..they want to write the amount in your passport for some reason. Tell them to piss off and ask for the manager.

Rusty Shackleford · Joined: 08 May 2008

ask for the law on the issue, written down. Of course he won't be able to produce it. Then tell him to take a hike and don't let him save face by saying "Oh I will do it this one time".

goesslry · Joined: 19 Jun 2007

threaten to close all your bank accounts, and say you will tell all your friends to do the same. Ideally, say this to the manager. Works every time.

PatrickGHBusan · Posted: Thu Oct 08, 2009 4:10 am Post subject:

Basically your ARC should be sufficient. If you do not have one your passport is required for verification of identity but the bank is not supposed to write anything in your passport.

Note that the bank can (and should) initially ask for your pay slip an d a tax statement from your employer (certified) that shows you paid your taxes.

When you send money a subsequent time the ARC is still required and the bank CAN require a pay slip from you.

crossmr · Joined: 22 Nov 2008 Location: Hwayangdong, Seoul

Xuanzang · Joined: 10 Apr 2007 Location: Sadang

Paid your taxes to exchange currency for a vacation? They should just be quiet and give the desired currency.

GreenlightmeansGO · Joined: 11 Dec 2006 Location: Daegu

I'm pretty used to it. Did it in South Africa, here and in Japan (in recent memory). I haven't had anyone write in my passport how much money I've exchanged, though.

weatherman · Joined: 14 Jan 2003 Location: Korea

scorpiocandy · Joined: 27 Feb 2008

Any time that I've ever wanted to exchange money, no matter which country, I've always had to present my passport. Even in my home country.

crossmr · Joined: 22 Nov 2008 Location: Hwayangdong, Seoul

giraffe · Joined: 07 Apr 2009

PatrickGHBusan · Posted: Thu Oct 08, 2009 2:54 pm Post subject:

I am on vacation in Korea now and when I went to exchange my Canadian dollars for Won the bank required my passport (ID verification and date of entry I suppose).

If you live and work here...you need your ARC or passport to prove ID and a pay slip to prove your income and employment. You should know there is a limit on how much you can send out of the country.

warmachinenkorea · Joined: 12 Oct 2008

They always ask for my passport but never have written anything in it. I take it and my ARC and sign a few papers and the exchange/transfer is done.