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keflyn
Joined: 07 Dec 2010
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 Posted: Mon Jan 17, 2011 2:23 pm Post subject: Can I use my HSBC account in SK? |
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| My current bank account is with HSBC who do have branches in South Korea would this enable me to use my current account in SK? or would I still need to set up a new account with a bank in SK? |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Mon Jan 17, 2011 2:34 pm Post subject: |
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| If you just make withdrawals, you're fine. However, if you work for a Korean employer with regular deposits, then you'll need to open a new Korean bank account. |
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keflyn
Joined: 07 Dec 2010
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| Posted: Mon Jan 17, 2011 2:36 pm Post subject: |
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| Does it have to be with a Korean based Bank? Or can it be with a more international one? |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Mon Jan 17, 2011 2:43 pm Post subject: |
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| keflyn wrote: |
| Does it have to be with a Korean based Bank? Or can it be with a more international one? |
As long as the bank is legally allowed to set up Korean won deposits it will be fine. However, many international banks only have branches in Seoul. So if you work way outside of Seoul, or a major city, then your access to service may be limited.
Also, don't expect seamless service between accounts, of the same bank, in different countries. Banking is highly regulated and differing laws between nations make it difficult to make things 'seamless'. |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Mon Jan 17, 2011 2:47 pm Post subject: |
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Not sure how many international banks take regular customer deposit accounts. But here are the only few I can think of:
SC 제일
CitiBank
HSBC - http://www.hsbc.co.kr/ |
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alistaircandlin
Joined: 24 Sep 2004
Location: Seoul
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| Posted: Tue Jan 18, 2011 6:50 am Post subject: |
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I think you'd need to open another HSBC account with a Korean branch.
I have an account with HSBC in the UK but it wasn't possible just to pay my salary over here directly into it. You'd have to do an international transfer and pay the usual fees if you wanted to pay into a British account.
I know HSBC is an international bank and all - but South Korea is an exception. You could pay your salary in directly for various other countires, but not here. |
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