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sigmundsmith
Joined: 22 Nov 2007
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Posted: Fri Aug 27, 2010 9:15 am Post subject: Korean Banking Logic |
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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
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Posted: Fri Aug 27, 2010 9:27 am Post subject: |
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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
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Posted: Fri Aug 27, 2010 1:55 pm Post subject: |
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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
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Posted: Fri Aug 27, 2010 2:44 pm Post subject: |
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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
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Posted: Fri Aug 27, 2010 2:45 pm Post subject: |
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Sounds like you're getting scammed here |
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big_fella1
Joined: 08 Dec 2005
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Posted: Fri Aug 27, 2010 3:53 pm Post subject: |
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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
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Posted: Fri Aug 27, 2010 5:37 pm Post subject: |
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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
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Posted: Fri Aug 27, 2010 6:45 pm Post subject: |
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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
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Posted: Fri Aug 27, 2010 7:31 pm Post subject: |
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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
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Posted: Fri Aug 27, 2010 9:26 pm Post subject: |
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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
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Posted: Fri Aug 27, 2010 9:31 pm Post subject: |
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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.
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Posted: Fri Aug 27, 2010 10:26 pm Post subject: |
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I've had employers ask me to open accounts. Even PS said I must use NongHyup, I said no I'm KEB. In all these cases they hum and haw and put it into my KEB account.
I think the reason is so they save 1000 won transfer fee because they have their corporate account at that bank. |
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perkxplosion
Joined: 18 Jan 2010 Location: gogo's. you know know.
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Posted: Fri Aug 27, 2010 10:41 pm Post subject: |
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tiger fancini wrote: |
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. |
haha. lol yeah seriously laguna people aren't trying to kill you. calm down. |
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cdninkorea

Joined: 27 Jan 2006 Location: Seoul
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Posted: Fri Aug 27, 2010 10:42 pm Post subject: |
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I think you guys are making too big a deal about the OPs boss getting him to open a new account.If the concern is being watched,he can transfer the money to his other account each month or even take it out in cash so his boss wont know where its going.But I had to open a new account for my job and its a university,not some hagwon with a snooping boss. |
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captain kirk
Joined: 29 Jan 2003
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Posted: Fri Aug 27, 2010 10:50 pm Post subject: |
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tiger fancini wrote: |
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. |
Being that this is Korea Korean logic would dictate the microphone goes into your anus, not the tracking device. |
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