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brento1138
Joined: 17 Nov 2004
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 Posted: Mon Sep 27, 2010 9:06 pm Post subject: Hate Wiring at the Bank, Writing in Passport? Read this. |
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I don't usually open up topics here anymore, but I really feel I can save many of you so much time, hassle, and annoyance. Many of you have complained about transferring money at the bank. There are many things to complain about, and rightly so: the annoying line-ups, getting off work early to go, people writing the amount you transfer in your passport... etc. etc.
There's a way to do it electronically. And this applies to every foreigner. Simply go to KEB (Korea Exchange Bank) and ask them to open up a "remittance account" for you. You'll need all your documents, such as contact, alien card, passport. You also need to bring all your bank information from your home country, like account number, branch number, swift code, and so on. Maybe bring other bank account info from Korea too, but I don't think you need it. Just make sure you have everything you need. If you don't know, ask them.
Anyways, once they approve you, you'll get a little bankbook and an account number. You can use that account number any time to simply transfer from your other normal bank account (the one that your school wires you money to, the one you use daily to withdraw cash). Simply go to any bank machine (even ones from other banks work I have found), and simply transfer the money from your normal account to the KEB remittance account. I believe this is also possible to do online.
The remittance account is set up so that any money you throw into it AUTOMATICALLY gets transferred to the account of your choosing in your home country. It's especially good for when you leave the country, as you can simply tell your school to pay you into that account instead of the original one you set up.
So there you go. Endless hours, pain, suffering, and annoyances, solved! 
P.S. Also, you save some money every transfer as well! |
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Caesar1313
Joined: 03 Apr 2008
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| Posted: Mon Sep 27, 2010 9:18 pm Post subject: |
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| KEB made my life in Korea so much easier. Hana bank used to take up to 10 days sometimes to get to my bank in Canada, KEB is 48 hours usually. Plus, no more worrying about using bank cards abroad, KEB cards work everywhere. Also, I pay all my bills and pay as you go phone from it as well. |
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Darkeru
Joined: 21 Apr 2010
Location: England
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| Posted: Mon Sep 27, 2010 9:24 pm Post subject: |
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| Caesar1313 wrote: |
| Plus, no more worrying about using bank cards abroad, KEB cards work everywhere. |
Really? I went to KEB and asked about the cards. They said their debit card only works in Korea. They specifically said it won't work outside of Korea (apart from in ATM machines) or on internet shopping websites outside of Korea. |
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Snowflake
Joined: 12 Dec 2006
Location: Seoul
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| Posted: Mon Sep 27, 2010 11:06 pm Post subject: |
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| Darkeru wrote: |
| Caesar1313 wrote: |
| Plus, no more worrying about using bank cards abroad, KEB cards work everywhere. |
Really? I went to KEB and asked about the cards. They said their debit card only works in Korea. They specifically said it won't work outside of Korea (apart from in ATM machines) or on internet shopping websites outside of Korea. |
Which branch was this? You can't use their debit card to buy things in a shop abroad, no - but you can get a credit card (basically a debit card) where you can use it everywhere.
KEB is the most foreigner friendly bank here. After 2 miserable years with KB I've been with KEB now for almost 3 years and I agree with the previous poster; it's changed my life.
Incredibly simple online banking where you can pay bills and transfer home within minutes. I have a HSBC account in the UK and the money arrives within a few hours of sending it.
I've used my debit card in the UK, Thailand and Malaysia and the visa credit card is, as it says, a visa card - I've used it countless times on shopping sites all over the place. They also have a great English helpline if you have any problems.
Seriously, can't recommend them enough - if you have had a bad experience in a branch where they've told you that you can't use a card abroad etc etc then just go to another branch.
I wish all foreigners here would switch to KEB then there'd be no more posts about people writing in passports or ridiculous transfer times/costs. And hopefully the other banks would slap up and start treating us like potential customers rather than a waste of their time.
Last edited by Snowflake on Mon Sep 27, 2010 11:20 pm; edited 1 time in total |
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balzor
Joined: 14 Feb 2009
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| Posted: Mon Sep 27, 2010 11:13 pm Post subject: |
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| I do online transfers with Shinhan. Easy peasy, Japaneseee |
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Darkeru
Joined: 21 Apr 2010
Location: England
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| Posted: Mon Sep 27, 2010 11:19 pm Post subject: |
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| Snowflake wrote: |
Which branch was this? Basically they were wrong. |
Itaewon branch. Going to another branch may be more difficult, depending on their English service. They did say it was the Visa debit card, but that it'd only work in Korea. I might try get it and test for myself if it's worked everywhere for you. If not I might see if I can get a credit card, if they can automatically deduct from an account if there's funds instead of sending a bill.
| balzor wrote: |
I do online transfers with Shinhan. Easy peasy, Japaneseee |
I can't even get into online banking with my Shinhan account. I've signed up for it at the bank itself, but when trying to get the online 'certificate' it wants a 'National ID' number and won't accept an Alien Registration number. How did you get around that? |
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balzor
Joined: 14 Feb 2009
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| Posted: Mon Sep 27, 2010 11:21 pm Post subject: |
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| Darkeru wrote: |
| Snowflake wrote: |
Which branch was this? Basically they were wrong. |
Itaewon branch. Going to another branch may be more difficult, depending on their English service. They did say it was the Visa debit card, but that it'd only work in Korea. I might try get it and test for myself if it's worked everywhere for you. If not I might see if I can get a credit card, if they can automatically deduct from an account if there's funds instead of sending a bill.
| balzor wrote: |
I do online transfers with Shinhan. Easy peasy, Japaneseee |
I can't even get into online banking with my Shinhan account. I've signed up for it at the bank itself, but when trying to get the online 'certificate' it wants a 'National ID' number and won't accept an Alien Registration number. How did you get around that? |
I used my ARC number. I'm not sure why it doesn't work for you. |
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Bondrock
Joined: 08 Oct 2006
Location: ^_^
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| Posted: Mon Sep 27, 2010 11:30 pm Post subject: |
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KEB is the shizzle.
You can get different levels of Visa cards depending on how you qualify. But basically, any foreigner can get the Purple colored card which works world-wide. You cannot use the "Visa" part for cash advances in other countries though. ---BUT, you can access any cash you have IN THE ACCOUNT up to 5 million (won) per day...
In essence it is 2 cards in one: an international debit card and a national Visa card. It can be used online worldwide if the purchase is made from within Korea.
http://www.keb.co.kr/netc/en/expat/service.html |
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oldtactics
Joined: 18 Oct 2008
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| Posted: Mon Sep 27, 2010 11:51 pm Post subject: |
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Another vote for KEB here. I have a normal account and a remittance account, and I do 100% of my banking online. I send money back to my Canadian account every month.
I opened my account 18 months ago and haven't been to a branch since then. So convenient & fast. I highly recommend opening a remittance account through them, even if they're not your primary bank. |
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dumpring
Joined: 06 Apr 2010
Location: Auckland, NZ
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| Posted: Tue Sep 28, 2010 12:35 am Post subject: |
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| Might have to make a trip to Itaewon soley for this. Sick of KB* having no online service for foreigners and having to register for remittance. Useless piece of turd bank. |
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shostahoosier
Joined: 14 Apr 2009
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| Posted: Tue Sep 28, 2010 1:34 am Post subject: |
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| dumpring wrote: |
| Might have to make a trip to Itaewon soley for this. Sick of KB* having no online service for foreigners and having to register for remittance. Useless piece of turd bank. |
You'll need to register for (foreign) remittance if you sign up with KEB too.
Everything else at the bank is dandy. They have a full service English website and they have great customer service.
Regarding using the debit card overseas, you'll need to request a global check card. I asked for one that could be used overseas and the bank initially gave me one that could NOT be used (it said so on the top of the card, thank goodness!). When I asked to have this corrected they gave me a debit card that could be used overseas to WITHDRAW money, but not to make purchases.
You'll be better off if you can set up your account during the week though. I set mine up on Sunday and all of the services werent available to me (foreign remittance registration, internet banking registration)...I had to go back during the week to be able to sign up for full services. |
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zeppelin
Joined: 08 Jan 2005
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| Posted: Tue Sep 28, 2010 3:19 am Post subject: |
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| dumpring wrote: |
| Might have to make a trip to Itaewon soley for this. Sick of KB* having no online service for foreigners and having to register for remittance. Useless piece of turd bank. |
I've been sending money home for a year at the ATM machine at KB*. |
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digiboy
Joined: 20 Nov 2009
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| Posted: Tue Sep 28, 2010 4:48 am Post subject: |
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That�sounds�great.�When�i�worked�in�Taiwan,�the�bank�wouldn't�even�give�me�a�visa�debt�card....because�I�was�a�foreigner...!
Checked�out�their�website�too,�they�seem�to�have�a�lot�of�branches... |
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Snowflake
Joined: 12 Dec 2006
Location: Seoul
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| Posted: Tue Sep 28, 2010 7:40 pm Post subject: |
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| dumpring wrote: |
| Might have to make a trip to Itaewon soley for this. Sick of KB* having no online service for foreigners and having to register for remittance. Useless piece of turd bank. |
From what I've heard, the Itaewon branch is the worst in terms of knowledge regarding the services for foreigners...seems odd I know.
There are loads of branches kicking around - I go to one right next to Seollung station, they have a global counter but even if that person is away then almost all the staff speak English. |
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farnsie79
Joined: 03 Jun 2010
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| Posted: Tue Oct 05, 2010 12:35 am Post subject: Shinhan Bank Seoul Global Center |
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| I recommend you use Shinhan Bank. They have a special branch that offers banking EXCLUSIVELY for foreigners. It's called "Shinhan Bank Seoul Global Center" - located in the Seoul Finance Center downtown between Gwanghwamun and City Hall. The staff speak English and their service is amazing. They offer about 4 different credit cards with all statements and info in English, international debit card, easy online banking, and low fees. The number is 02-773-3131. You only have to go there once! |
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