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Korean Banking Logic
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sigmundsmith



Joined: 22 Nov 2007

PostPosted: Fri Aug 27, 2010 9:15 am    Post subject: Korean Banking Logic Reply with quote

Well, I have been in Korean for 5 years. And happy I got the job I wanted. The new employer says I must open a bank account with Shihan (spl?) bank as my pay must be put into this bank. No problem, i will just need to make phone calls to change my billing for fone and credit card.

Then they said I must wait 3 months for a card. To me this is ridiculous. Im not a newbiiiiiii. I have two Korean bank accounts and a korean credit card account. I asked for their reasoning (not angrily) about having to wait 3 months for a card and the person at the branch I went to couldnt give me one.

The thing is if they give me a card what could I do? Steal my own money?
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Triban



Joined: 14 Jul 2009
Location: Suwon Station

PostPosted: Fri Aug 27, 2010 9:27 am    Post subject: Reply with quote

Accessing your own money through Shinhan prior to a 3 month arbitration period is punishable by law.

You could give the bank HIV, or steal it's women.
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tiger fancini



Joined: 21 Mar 2006
Location: Testicles for Eyes

PostPosted: Fri Aug 27, 2010 1:55 pm    Post subject: Reply with quote

Return to the branch on a daily basis to request the card. Be polite at all times. I'm pretty sure that after a week you will have your card.
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littlelisa



Joined: 12 Jun 2007
Location: Seoul

PostPosted: Fri Aug 27, 2010 2:44 pm    Post subject: Reply with quote

You've been in Korea for 5 years? Continue to use your other bank for withdrawals. If you have no money or not enough to get you through 3 months, go into the Shinhan bank when they are open and ask them to set up an automatic transfer of (your salary minus tax, pension etc) every month to your other bank.

Your school is being cheap, forcing you to use one bank. I guarantee they not only have fees waived to transfer money to other accounts with the same bank (give you your pay), but they are also getting other kickbacks from the bank.

Edit: Actually, why not ask your director? Tell him that if you are forced to use this bank, could he at least call them and see if he can get them give you your card sooner? And if not, can he send your pay to another bank for three months?


Last edited by littlelisa on Fri Aug 27, 2010 2:56 pm; edited 1 time in total
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redaxe



Joined: 01 Dec 2008

PostPosted: Fri Aug 27, 2010 2:45 pm    Post subject: Reply with quote

Sounds like you're getting scammed here
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big_fella1



Joined: 08 Dec 2005

PostPosted: Fri Aug 27, 2010 3:53 pm    Post subject: Reply with quote

Call Shinhan's English line 1577-8380 and ask them if this is really the policy. If they say no, tell them to call the branch and fix it. Should they say yes then file a complaint with the National Human Rights Commission of Korea.

http://www.humanrights.go.kr/english/guide/complaint_01.jsp

It is illegal to discriminate against a legally registered resident solely because of their ethnicity.

I have had success with 1 bank by dealing with the bank directly and another person recently had success against a mortgage insurer by going to the National Human Rights Commission of Korea.
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cdninkorea



Joined: 27 Jan 2006
Location: Seoul

PostPosted: Fri Aug 27, 2010 5:37 pm    Post subject: Reply with quote

The same thing happened to me years ago- I went to the Shinhan in Itaewon to open an account, and they told me they couldn't give me a bank card because there was "a problem" (they wouldn't elaborate).

But Korea being what it is, I went to a branch in Yeouido the next day and got a bank card no problem. I didn't, but wanted to, go back to the original branch and confront them about it.
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Rothbard



Joined: 23 Aug 2010

PostPosted: Fri Aug 27, 2010 6:45 pm    Post subject: Reply with quote

Tell your boss to deposit your salary in your existing account. There is no reason to open a new account EXCEPT if he is trying to scam you. Having been here for a reasonable amount of time, you should know that.
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PigeonFart



Joined: 27 Apr 2006

PostPosted: Fri Aug 27, 2010 7:31 pm    Post subject: Reply with quote

Thank you for the Human Rights Commission link. I'd never heard of them before now.
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laguna



Joined: 27 Jun 2010

PostPosted: Fri Aug 27, 2010 9:26 pm    Post subject: Reply with quote

Rothbard wrote:
Tell your boss to deposit your salary in your existing account. There is no reason to open a new account EXCEPT if he is trying to scam you. Having been here for a reasonable amount of time, you should know that.


They also do this too keep tabs on you, and to gain access to your account without your authorization (or trick you into authorizing and signing). The thing they always do right away is make sure all atm notices go to their personal cell phone, that way they can know what you are doing, and try to stop you from running if they see a huge amount of money disappear.
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tiger fancini



Joined: 21 Mar 2006
Location: Testicles for Eyes

PostPosted: Fri Aug 27, 2010 9:31 pm    Post subject: Reply with quote

laguna wrote:
The thing they always do right away is make sure all atm notices go to their personal cell phone, that way they can know what you are doing


They also install hidden CCTV and mics in your room prior to your arrival, and watch everything that you do on a live feed. And when you go to the hospital for your medical check, they secretly insert a tracking device into your anus so that they will always know where you are.
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Who's Your Daddy?



Joined: 30 May 2010
Location: Victoria, Canada.