Korean Job Discussion Forums

tfunk · Joined: 12 Aug 2006 Location: Dublin, Ireland

I want to transfer money to Ireland from my Korean bank account using online banking. I'm in Ireland. I can choose from 5 options for how I want to transfer the money, 3 of them seem like they may be applicable to me:

1. Small amount remittance under US$1,000.
2. Resident's donative remittance under US$10,000.
5. Wage remittance for foreigners (non-residents).

Can I choose from any of these options? What are the implications (e.g. extra tax, transfer fee differences) of each of them?

I also notice there is a clause:

DeMayonnaise · Joined: 02 Nov 2008

In response to your last question, yes. When I had Nonghyup I did it online for sending small amounts each month at first, but had to go to the bank to do it when I was sending a big chunk.

oldfatfarang · Joined: 19 May 2005 Location: On the road to somewhere.

I recently sent moneyhome through a branch of Nyong Hup (sp?). It was expensive (40,000 won) to remit 10K won.

Apparently, I ticked the wrong box on the application form. I ticked: Fee Paid by Applicant. However, I should have ticked: Fee Paid by Beneficiary.

If I'd ticked Fee Paid by Beneficiary I'd have paid a lesser amount to my bank at home. (I checked with my personal banker at home and she confirmed this.)

Good luck.

sixty_monroes · Joined: 05 Jun 2010

Do wage remittance for foreigners z

tfunk · Joined: 12 Aug 2006 Location: Dublin, Ireland

Morticae · Joined: 06 May 2010

Just last week I transfered about 2,200,000 WON (~2,000 USD) online using Nonghyup (NH). I did not have to go into the bank. When I signed up for the online banking, they asked me how much I wanted to send... we ended up just putting the maximum limit allowed, which was some ridiculously high amount per day. I assume it will not allow you to exceed that amount, but it was fine for me. Takes about 1-2 business days to show up in my account back home.