Korean Job Discussion Forums

[jizza]

I keep getting different answers. My korean friend asked her colleagues if foreigners could send money home through the KB internet banking site. They said no.

Then, one time my friend helped me try and it ALMOST worked. Some error message came up in Korean that frankly, didn't make any sense.

Also, some posters on dave's have mentioned being able to do it through the internet.

So... what is it? Can you send through the internet or not?
No, I don't want to do it through an ATM. Why would anyone do that when you can just do it online.

[ThingsComeAround]

depends on your visa type
depends on when you opened the account
depends on the particular teller you spoke to

Just goto KEB (I heard SC & Nonghyup do this also)

[salgichawa]

[Paladin Brewer]

If you have a check/debit card, can you set up Paypal for your Korean account, and just send via paypal?

[schlotzy]

Yes! You CAN send money online back home through KEB (KB is a different bank, right?) I do it every month and have recently set it up so I can tell you exactly what to do.

First, in order to do this you need to visit a branch in person to have it set up. Tell them you want to be able to wire money to your home country and come equipped with all of your banking information (account number, bank name, branch address, transit number, swift code, any other numbers you can get your hands on! haha).

Then, you may be asked to set up a new user name and password depending on how your account was set up in the first place. In my case, i had to come up with a new username and therefore a new security certificate.

Finally, when you go online on the KEB site, and attempt to make a global wire transfer, you will now see your home account as an option. Before when I went to enter in the remittance number (ex. 0001) there was nothing there. Now when I click the box my home account pops up. You just select it, enter the amount you want to send, and voila. It actually takes less than 48 hours to hit my TD account in Canada.

[schlotzy]

PS. I also had to take my passport, ARC, and a letter from my school proving that I worked there. New international law apparently requires one to be an approved foreign worker in order to set up this type of account.

[jizza]

Thanks schlotzy. I have Kookmin bank.. i guess that is different from KEB? Also from your success, that means there cant' be any laws against foreigners sending money, so if a bank doesn't allow it, then the only possibility is that the bank just doesn't allow it

[ThingsComeAround]

KB bank:
KB국민은행

KEB bank:
외환은행 - Global Standared KEB (Google search not my edit!)

they didn't spell "Standard" correctly but they are lightyears ahead of KB in terms of customer service

[mellow-d]

I dealt with this problem last month and the answer is a definite: No, you can't send money online using the KB bank.

I talked to the teller, got internet banking set up, talked to the teller again and even called the KB bank and talked to an English rep. You can send the money using an ATM (get the bank to set it up for you) but you absolutely cannot send it using the internet bank.

[djsmnc]

I am on an E2 and I use KB, yes, KB Kookmin Bank to send money home through the internet each month with absolutely no problems.

[jizza]

[mellow-d]

Yeah, I suppose it depends on the branch you go to. I decided to transfer from the KB bank near my school and they told me that the only way to transfer money was by physically going into the bank (the rep was fluent). I had been told that after the first time you go, you can get the overseas remittance set up on an ATM (but not internet). That bank had no idea what I was talking about. So I went to the KB bank near my house and they were like okay, we'll set that up no problem....

[mhope1]

I bank with Nonghyup (unfortunately) and I have not been able to send money online. I should be able to, but after spending literally hours at the branch, no-one was able to figure out why it doesn't work. I'm going to try again next month to see if I can do it via ATM.
I'm hoping that transferring via ATM or online will cut down on the fees. Does anyone know if that is the case?
(I dont mean the intermediary bank fee or the receiving fee, but there are two additional fees that they charge me at the branch as well)

[ThingsComeAround]

This is something I don't get-
Why is it okay to send money home via ATM- they aren't open 24 hours (maybe 8A-10P) and what's more, you can't send home from any ATM. Only from your "home branch".

Internet banking rules should be clear, however unfortunately many bank managers and officers see fit to make their own policy with regards to foreign investment

[morrisonhotel]

I'm on holiday today and tomorrow and I'd like to get my account switched to KEB. I'm going to be in Seoul. Does anyone know of a branch in Seoul that definitely has an English speaker? My local branch doesn't......