Korean Job Discussion Forums

[dizzyl]

Hey all
I am with NongHyup bank and have online banking. I guess with the translation into english a few things are not making too much sense to me. So if you have done and international transfer with NH please help me by answering the following questions:

It asks for remittance type, should it be small amount (less than $1000 because it will be) or wage remittance?
The swift code for my bank is different from the automatic one they generate on their system... should I just change it to what my UK bank provided me with?
Where it asks for the beneficiary account number should I input the IBAN (Internation banking account number) or my just the UK account number without all the letters?
And it asks for Bank Codes or other info, should anything be put in there... like the fact that my bank is a member of the HSBC group?

I don't want my money to go and get lost in the banking systems of the world so any advice would be wonderful. Oh my NH branch is devoid of any english speaking consultants!!

thanks all!!

[cert43]

Remittance= What your re-addmitting into your banking system.

Yes, don't reclaim your "wage" into your UK banking system ( or they

may start auditing you).

I think "HSBC" "Deposits" are mainly in Hong Kong ( don't quote me on

this one, though). IBAN= International banking number ( can be found on

your banks' website).

[IAMAROBOT]

For me, I choose the remittance type for foreigners/non-residents. I'm not sure what the limit is but I've sent $5000 at one go. $10,000 was too much.

I'm from the US and we have bank routing numbers and I was told to go with my bank's routing number and not the SWIFT code by the lady on the phone. Do UK banks have the equivalent? There is a number you can call, 1588-2100 and then 730 to get the English service. They helped me out.

And, as always, use Internet Explorer to bank with Nonghyup if you aren't already. It seems to make things easier.

[lifeinkorea]

If you are having problems with NH, I suggest going with KEB. NH took me around in circles, making me open a new account to do internet banking, giving me a card to sign on with, and not giving me the proper routing information.

I had to get it online, but when I went to put in the address of the bank I use back home, it wouldn't recognize the format. I called them up and they wanted to talk to KEB, which was rather bizarre at the time. I went back to NH, closed out both the old account and new one they made, transferring the funds to another bank.

KEB was able to set it all up for 28,000 won. I don't have to be in the country now. The lesson learned is not go with NH if you want to avoid the headaches.

[injuredeagle]

with NH, you have to have specifically asked them to set up overseas remittance and not just online banking. Otherwise, won't work.

[warmachinenkorea]

I use NH but I don't do the internet banking part.

It took about an hour for the initial set-up:
Routing number, ARC, Passport, Account info

Now it takes about 10 mins to do a transfer home. I take my passport, my Korean bank book and tell them how much I want sent home.
The larger bank in the area will probably be the one to do it.

You do need to set up your transfer info before doing the online banking. I tried the online banking and didn't like that I had to install, what seemed like, 15 differnt things on my computer.

[shostahoosier]

Yes, like someone said earlier, NH bank requires you to specifically ask for the ability to do overseas transfers with online banking. I discovered this after going out of my way to visit their branch during work hours 3 separate times. Instead of going in a 4th time I just ended up going with KEB.