Korean Job Discussion Forums

goodfella · Joined: 10 Feb 2004

hi everyone. i just want to get an idea on bank service fees from
teachers who are from canada.

what would be the cheapest way to keep sending money
back home regularly? can anyone tell the me kinda fees that they
are paying?? that is once the money is deposited in youre korean bank account. or even if you just bring cash to the bank with you and send
it home through a friend if you dont have an account yet??

i know you get charged 2 fees at least. a korean bank and canadian bank
fee. but i'd like to know some figures on a single transaction from here to back home in your account.

currently im paying a 8000 won fee from here and a 20$ CDN charge back home. can anyone beat that??

any cheaper way?

thanks

Mr. Pink · Joined: 21 Oct 2003 Location: China

That's cheaper than what I was paying.

Canadian banks always take 20bux

I was paying 15k won to my Korean bank...wonder how you got it so cheap Shocked

Juggertha · Joined: 27 May 2003 Location: Anyang, Korea

sounds the same for me. about 10k here and 20$ back home. buggers.

Homer · Guest

Around 10 000 Won here and 0$ home...

prairieboy · Joined: 14 Sep 2003 Location: The batcave.

If you're sending a large sum of money back on a regular basis, then try to negotiate a lower fee or a zero fee with your bank. If you're sending $2000 or more a month back to Canada and threaten to leave your bank if they don't stop charging you the money, they may drop this charge.

Try it and see if it works. You can always change banks, close accounts without paying fees by withdrawing all of your money, transfer your investments and basically cause your branch headaches if you have family members or friends at the same bank.

Good luck. I've got to try this next time I'm back in Canada.

Cheers

Homer · Guest

Prairieboy made an excellent point: negociate with your bank.

However you need leverage. In the case of wire fees your leverage is the amount you send in every month.
If you send close to nothing then you have close to nothing to negociate with.

If like p-boy said you send 2000$/month then your in business.

I negociated with the RBC back in 1998 and have not paid wire fees since then.