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giraffe
Joined: 07 Apr 2009
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 Posted: Tue Apr 26, 2011 4:34 am Post subject: KEB bank multi currency account |
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So I just opened a basic account with KEB bank.
Had a few questions about using and opening a multi currency account at keb.
1. Which multi currency account did you open?
2. How does the account work exactly?
3. what are the uses of a multi currency account?
I'm just a little confused. I'm not sure if it would be of any use to me or not? My jobs all come from abroad ( I'm canadian) and I mostly get paid in US $ or UK Pounds. Soo I'm wondering does each currency have a different account number that I can give to clients to wire money into? Say I receive wire transfers from the UK would the wire get automatically deposited in Pounds in my multi currency account? Or is the account only used to buy and sell different currencies after the money is in my korean account?
Any extra info would be useful. The info on the KEB bank isnt exactly useful / a bit misleading and or not clear.
Also, anyone else have problems with the online banking KEB site? Its a bit buggy on my computer. Perhaps because I'm using windows 7 64bits with newest version of IE ????? Just wondering.
Thanks in advance for any useful info... |
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Captain Corea
Joined: 28 Feb 2005
Location: Seoul
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| Posted: Tue Apr 26, 2011 4:38 am Post subject: |
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| I have a number of accounts with them. Most of them are Korean currency, but one is in CDN $ |
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ThingsComeAround
Joined: 07 Nov 2008
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| Posted: Tue Apr 26, 2011 4:05 pm Post subject: |
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Why not just walk in and ask questions about the account?
About the IE issue, most banks are optimized to work with IE 6/7. They still haven't worked around the issue of OS upgrades  |
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Sticks
Joined: 13 Mar 2011
Location: Seoul, Korea
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| Posted: Tue Apr 26, 2011 5:05 pm Post subject: |
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You mean how to login without the activex/authentication crap?
Banks in Australia only need three things: Username, password, HTTPS. I login to my home bank account a few times a month and I cry with nostalgia.
You should either walk in in person and ask like the above poster said, or phone them up. They've got an English speaking helpline number. |
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giraffe
Joined: 07 Apr 2009
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| Posted: Tue Apr 26, 2011 5:43 pm Post subject: |
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Captain Corea: IF you dont mind answering What do you use your Cnd currency account for? Do you have a separate bank card for that one ? Seperate Account number for it? can you wire in and out money as much as you want ( from canada I assume?) Did you apply for it in person or just open it online? If you did it online which one did you open ( out of the foreign currency account options).
ThingsComeAround: I live in Daejeon and Theres only a couple keb branches And the one I go to has no english service or information whatsoever. It's also 25 minutes away by bus. I'm definitely going to look into it further at the bank in person but I just wanted to see if anyone here had any experience using one....
Last edited by giraffe on Tue Apr 26, 2011 5:59 pm; edited 1 time in total |
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giraffe
Joined: 07 Apr 2009
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| Posted: Tue Apr 26, 2011 5:48 pm Post subject: |
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Sticks, No I dont mean activex / authentication crap. The bugs I'm refering to are navigation bugs. I think its flash being buggy. For some reason the navigation menu goes crazy/ icons go really big or they disapear. Even if i reload the page the issue is still there. It only happens at random though. Like i said, Its probably because I'm using windows 7 64bit with IE 9... Its bothersome but i can deal with it..
Yes I'm aware theres an english number and that I have legs that i can use to walk into a bank and ask in person... I just wanted to know other peoples experiences in using a multi currency account and how they use it and if they like it.... Would be nice to know from first hand users... |
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winterfall
Joined: 21 May 2009
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| Posted: Tue Apr 26, 2011 7:00 pm Post subject: |
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| giraffe wrote: |
Sticks, No I dont mean activex / authentication crap. The bugs I'm refering to are navigation bugs. I think its flash being buggy. For some reason the navigation menu goes crazy/ icons go really big or they disapear. Even if i reload the page the issue is still there. It only happens at random though. Like i said, Its probably because I'm using windows 7 64bit with IE 9... Its bothersome but i can deal with it..
Yes I'm aware theres an english number and that I have legs that i can use to walk into a bank and ask in person... I just wanted to know other peoples experiences in using a multi currency account and how they use it and if they like it.... Would be nice to know from first hand users... |
I'm using the same set up as you. You might be using the 64 bit IE right now. Most Korean programs aren't specifically programmed for 64 Bit, and 64 bit IE doesn't support flash yet either. That's probably what's causing your stability issues
Dig through your system folder. If you've got the 64 bit Windows 7 version, you'll also have 2 versions of IE 9 (32 Bit & 64 Bit). They're be in separate folders under "Program Files" Use the 32 bit when dealing with Korean shopping / banking sites. It helps a lot. |
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Captain Corea
Joined: 28 Feb 2005
Location: Seoul
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| Posted: Wed Apr 27, 2011 5:56 pm Post subject: |
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| giraffe wrote: |
| Captain Corea: IF you dont mind answering What do you use your Cnd currency account for? Do you have a separate bank card for that one ? Seperate Account number for it? can you wire in and out money as much as you want ( from canada I assume?) Did you apply for it in person or just open it online? If you did it online which one did you open ( out of the foreign currency account options). |
I use it strictly for exchange. when the won/dollar rate is in a preferred range, I exchange and put it in there. I keep it in there until I need to transfer it. I do it this way because transfering large sums out of Korea can involve a decent amount of documentation. |
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NSMatt
Joined: 29 Dec 2008
Location: London
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| Posted: Thu Apr 28, 2011 1:30 am Post subject: |
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| Captain Corea wrote: |
| giraffe wrote: |
| Captain Corea: IF you dont mind answering What do you use your Cnd currency account for? Do you have a separate bank card for that one ? Seperate Account number for it? can you wire in and out money as much as you want ( from canada I assume?) Did you apply for it in person or just open it online? If you did it online which one did you open ( out of the foreign currency account options). |
I use it strictly for exchange. when the won/dollar rate is in a preferred range, I exchange and put it in there. I keep it in there until I need to transfer it. I do it this way because transfering large sums out of Korea can involve a decent amount of documentation. |
Me too.
OP - Set up a 'Multi currency Global account' then transfer money from your main chequing/savings account to the global account when the rate is good. Then you can send large amounts home infrequently, but take advantage of a good rate when it comes up. The bank told me I had to go there in person to transfer money in, I cant transfer online from my main account to my CDN dollar one. However, you can use online banking to wire money home from either account. |
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giraffe
Joined: 07 Apr 2009
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| Posted: Thu Apr 28, 2011 3:27 am Post subject: |
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CC Thanks for the info. Does your multicurrency account have its own account number so that if you wanted to get "employers" ( from outside of KOrea) to wire money into the account they could?? Or you cant receive wires into a multicurrency account?
NSMatt Thanks for the info but I'm not looking to transfer money from my savings account to my global account and then wire back home. Oddly enough I actually want to do the exact opposite. I want my clients to wire me money into various currency accounts here in korea and then transfer some of that money to my local korean bank when i need it or when the rates are better. SO I was wondering if i open various accounts in different currencies , do each of those accounts have its own account number that i give to my employers for them to wire me money in whatever currency my client uses... Ideally i would want to have a UK pound account, US $ account , Cnd$ account and Korean won all seperate with different account numbers... |
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NSMatt
Joined: 29 Dec 2008
Location: London
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| Posted: Thu Apr 28, 2011 7:20 am Post subject: |
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| giraffe wrote: |
CC Thanks for the info. Does your multicurrency account have its own account number so that if you wanted to get "employers" ( from outside of KOrea) to wire money into the account they could?? Or you cant receive wires into a multicurrency account?
NSMatt Thanks for the info but I'm not looking to transfer money from my savings account to my global account and then wire back home. Oddly enough I actually want to do the exact opposite. I want my clients to wire me money into various currency accounts here in korea and then transfer some of that money to my local korean bank when i need it or when the rates are better. SO I was wondering if i open various accounts in different currencies , do each of those accounts have its own account number that i give to my employers for them to wire me money in whatever currency my client uses... Ideally i would want to have a UK pound account, US $ account , Cnd$ account and Korean won all seperate with different account numbers... |
The regular Expat savings and Global multi currency account numbers are definitely different. I have separate bank books for each. However, the account numbers within the Global account are the same. I believe US dollars is the default, and you then set up other currencies as you wish. I have CDN and USD, I've never used the USD but its listed there with the same account number as the CDN dollar one. |
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winterfall
Joined: 21 May 2009
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| Posted: Thu Apr 28, 2011 4:32 pm Post subject: |
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| NSMatt wrote: |
| giraffe wrote: |
CC Thanks for the info. Does your multicurrency account have its own account number so that if you wanted to get "employers" ( from outside of KOrea) to wire money into the account they could?? Or you cant receive wires into a multicurrency account?
NSMatt Thanks for the info but I'm not looking to transfer money from my savings account to my global account and then wire back home. Oddly enough I actually want to do the exact opposite. I want my clients to wire me money into various currency accounts here in korea and then transfer some of that money to my local korean bank when i need it or when the rates are better. SO I was wondering if i open various accounts in different currencies , do each of those accounts have its own account number that i give to my employers for them to wire me money in whatever currency my client uses... Ideally i would want to have a UK pound account, US $ account , Cnd$ account and Korean won all seperate with different account numbers... |
The regular Expat savings and Global multi currency account numbers are definitely different. I have separate bank books for each. However, the account numbers within the Global account are the same. I believe US dollars is the default, and you then set up other currencies as you wish. I have CDN and USD, I've never used the USD but its listed there with the same account number as the CDN dollar one. |
I'm curious about this now too. It does seem hellishly useful being able to exchange when its best for you. And if there's no minimums and a preferential rate, why not?
Did you open your expat & global multi currency account at the same time? Or you opened the multi-currency later?
I'm asking cause KEB already has all my remittance stuff on file. But I'd hate to go through all that paperwork again to open a Multi-Currency Account |
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giraffe
Joined: 07 Apr 2009
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| Posted: Thu Apr 28, 2011 7:04 pm Post subject: |
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| NSMatt wrote: |
The regular Expat savings and Global multi currency account numbers are definitely different. I have separate bank books for each. However, the account numbers within the Global account are the same. I believe US dollars is the default, and you then set up other currencies as you wish. I have CDN and USD, I've never used the USD but its listed there with the same account number as the CDN dollar one. |
NSMATT, Thanks for the info. Thats really interesting. I wonder If someone wires me CND$ into the global account ( that is if its possible to receive wires from abroad into that account) if it will automatically deposit it into the Canadian currency section. And if the sender sends UK pounds it will be deposited into UK pounds and not convert it to the main currency of the account ( US$ as you say). I would be nice if the account does allow international transfers to come in as well as automatically sort the currencies seperately... Maybe I'm asking for too much =p. Ill look into it next time I'm at the bank. |
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