Korean Job Discussion Forums

[Enigma]

I've got an account at KEB but I've never made an international transfer before. I'm heading to Bali over Christmas and I need to transfer money to an Indonesian account for a diving/hotel package.
I've looked at KEB's banking site and I have a choice between an "Immediate transfer" or "Wire transfer". What's the difference between the two, and any idea how much they cost?
And I know I could contact KEB directly for this information, but I'd much rather have it explained in English rather than Korean-English.

Thanks

[moldenke]

I've actually found KEB's helpline to be wonderful. The last two transfers I made online I kept them on the phone at each step, and they were willing to clarify everything. Which, for me, has been in stark contrast to the very unhelpful help I've received at my branch.

Sorry that doesn't answer your question exactly, though.

[roknroll]

You need to visit the bank and set-up an inter'l account with all the relevant info first....then it's into 'global wire transfer'....the designated acct that you set-up as well as your personal info shows up here....so you only need to click a couple things and your done.....you'll need to visit a KEB with the English desk service....Itaewon is relatively smooth sailing and they can guide you through it online there.....it's either 7 or 8,000 per transfer overseas, not including intermediary charges if applicable (some receiving banks take a cut).

This is for 'recurring' transfers, so obviously it's for foreigners sending funds home, usually to their own home-accounts. Whether one can do this for a one-shot deal, I'm not sure. I'm assuming you don't have an Indo'n bank acct and are circumventing the use of a credit card. Of course you can transfer money to any acct in the ROK, but anything overseas requires an initial visit to the bank. If you can get a credit card, or have one, it'd be alot simpler. I'd guess that you will need to go thru the bank for this via wire transfer/bank draft or whatever as opposed to being able to send it online...otherwise, they'd be doing basically the same work for a lot less pay (given that one would have to bring in all the bank details for each new account that you're sending to overseas).

[lifeinkorea]

KEB has a credit card option and a debit card one. You can get the debit card same day, but for the credit card it takes about 3 days.

Go visit a KEB bank and apply for the credit card.

[nikki15]

I actually have a question about this too. I have made a few international transfers to my bank in Canada, each time I went to the bank in person to do it.
I would prefer to have online banking to do this. I have seemed to sign for online banking successfully through their website, but when I go to do a transfer under the 'Transfer from information' it won't let me select an account. It seems to have all my Canadian account information, it just isn't letting me select an account to transfer from.

Am I doing something wrong or do I actually need to go to the bank in person to set up online banking?

[moldenke]

you need to go to a branch to set up online banking. you need to register your home bank's account and get a code device for transfers.

it took me three visits to finally get mine set up for mac banking; definitely go to a branch known for its expats services if you want to preserve your sanity!