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72,000 won bank fee???
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sugarkane59



Joined: 10 Jun 2009
Location: Seoul
PostPosted: Sun Dec 13, 2009 9:49 pm    Post subject: 72,000 won bank fee??? Reply with quote
I just went to KB bank to enquire about sending money to the UK. First of all, the exchange rate is rubbish at the moment [to the pound] and also she told me that there is a flat rate of 72,000 won to send the money --- that doesn't include the fee that I'll probably have to pay to my English bank. I thought that it may be a percentage of the amount to be transferred....

Gutted.
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jonpurdy



Joined: 08 Jan 2009
Location: Ulsan
PostPosted: Sun Dec 13, 2009 10:57 pm    Post subject: Reply with quote
Wow. KEB is 8,000 won to send to Canada. You just go in once into a branch with your details and can then transfer using online banking.
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OculisOrbis



Joined: 17 Jul 2006
PostPosted: Sun Dec 13, 2009 11:28 pm    Post subject: Reply with quote
depends how much you send. more money = higher fees, but 72 000 seems pretty ridiculous....
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tiger fancini



Joined: 21 Mar 2006
Location: Testicles for Eyes
PostPosted: Mon Dec 14, 2009 12:05 am    Post subject: Reply with quote
That fee completely takes the pi$$, but the exchange rate looks ok to me today. 1882won to the pound is pretty good, and that's the rate now according to XE.com
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big_fella1



Joined: 08 Dec 2005
PostPosted: Mon Dec 14, 2009 5:35 am    Post subject: Re: 72,000 won bank fee??? Reply with quote
sugarkane59 wrote:
I just went to KB bank to enquire about sending money to the UK. First of all, the exchange rate is rubbish at the moment [to the pound] and also she told me that there is a flat rate of 72,000 won to send the money --- that doesn't include the fee that I'll probably have to pay to my English bank. I thought that it may be a percentage of the amount to be transferred....

Gutted.


I wonder if he quoted the Western Union rate and not the telegraphic transfer rate (less than w15,000). Better to go and ask again, as Western Union (pretty sure KB are their agents here) are very expensive when compared to bank telegraphic transfers.

I believe that KB has a very good and cheap service to use ATM's for international transfers too (about w3,000), but you need to register first.
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BoholDiver



Joined: 03 Oct 2009
Location: Canada
PostPosted: Mon Dec 14, 2009 6:26 am    Post subject: Reply with quote
I have always paid somewhere between 10-25,000 won. I can't remember off hand.

No, refuse to pay it. They're gyping you.
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hugekebab



Joined: 05 Jan 2008
PostPosted: Mon Dec 14, 2009 6:39 am    Post subject: Reply with quote
The exchange rate is excellent. 1900 to the pound is very good.
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curiousaboutkorea



Joined: 21 Jan 2009
PostPosted: Mon Dec 14, 2009 6:52 am    Post subject: Reply with quote
Use a different bank. It's easy enough to set up an account.
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egrog1717



Joined: 12 Mar 2008
PostPosted: Mon Dec 14, 2009 10:44 pm    Post subject: Reply with quote
(At least for Canada)
KB let's you set it up so you can use the ATM to send cash home... Couple of buttons and it's there in 2-3 days... 5000 won per transfer, plus whatever your bank knocks off on the backend.
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Juregen



Joined: 30 May 2006
PostPosted: Mon Dec 14, 2009 11:35 pm    Post subject: Re: 72,000 won bank fee??? Reply with quote
sugarkane59 wrote:
I just went to KB bank to enquire about sending money to the UK. First of all, the exchange rate is rubbish at the moment [to the pound] and also she told me that there is a flat rate of 72,000 won to send the money --- that doesn't include the fee that I'll probably have to pay to my English bank. I thought that it may be a percentage of the amount to be transferred....

Gutted.


There are three possibilities

Sender pays all
Sender and receiver pay their share
Receiver pays all

The second option is the best one.
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sugarkane59



Joined: 10 Jun 2009
Location: Seoul
PostPosted: Wed Jan 06, 2010 9:32 pm    Post subject: Reply with quote
Went back to KB to ask about using the ATM to make international transfers (to the UK) and she said I can't do it!!!!

Also, she quoted me the same 70,000 won fee again for transferring the usual way - she explained more this time... she said that there are three fees: one which is fixed (8,000 won); one that changes depending on how much you're sending (e.g. 3.5 million = 15,000 won) AND THEN.... A 52,000 won fee because an American bank handles the transfer between Korea and the UK!!!!!

What a load of rubbish - I'm so angry!
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hochhasd



Joined: 05 Jul 2008
PostPosted: Wed Jan 06, 2010 10:00 pm    Post subject: Reply with quote
sugarkane59 wrote:
Went back to KB to ask about using the ATM to make international transfers (to the UK) and she said I can't do it!!!!

Also, she quoted me the same 70,000 won fee again for transferring the usual way - she explained more this time... she said that there are three fees: one which is fixed (8,000 won); one that changes depending o