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winterfall
Joined: 21 May 2009
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 Posted: Mon May 09, 2011 12:59 am Post subject: KEB Multi Currency Account |
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There's a thread that's similar to this but it didn't answer some basic questions I have.
I just opened a KEB Foreign currency account. And I was told that in order to deposit money, you need to show up in person with your passport and you get a stamp for each million won you convert. If you want to withdrawal (To convert to KRW) or do a remittance from the FCA you have to show your ARC card.
There is no internet access to the FCA besides seeing what your balance is.
My Korean is a little bit sketchy. Can anyone confirm this?
I live pretty far from the mainstream KEB branches and even calling them on the phone is better than other Korean banks but, still no I've ever talked to is fluent enough to explain complicated things. Better to talk to people with experience.
Thanks in advance |
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nathanrutledge
Joined: 01 May 2008
Location: Marakesh
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| Posted: Mon May 09, 2011 1:17 am Post subject: |
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You don't need your passport for anything except entering and leaving the country. You've got your ARC, that's all they need. Don't let them write anything in your passport, EVER. That's not what it's for, and it CAN cause grief for you when you go back to your home country (people at immigration saying "hey, what the heck is this crap...).
I've got a FC account and I can access it online. I don't send money home frequently enough for me to have it registered, but it's possible. Just go to the bank with your ARC, bankbook, and bank information for where you want to send it and you can register the account. If you have registered the account already for online use, the information is pretty easy to find on the KEB site - mine has a note next to the account name telling me to register for easy online transfers.
Sounds like you've got a bank clerk who doesn't want to do his job. |
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winterfall
Joined: 21 May 2009
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| Posted: Mon May 09, 2011 1:25 am Post subject: |
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| nathanrutledge wrote: |
I've got a FC account and I can access it online. I don't send money home frequently enough for me to have it registered, but it's possible. Just go to the bank with your ARC, bankbook, and bank information for where you want to send it and you can register the account. If you have registered the account already for online use, the information is pretty easy to find on the KEB site - mine has a note next to the account name telling me to register for easy online transfers.
Sounds like you've got a bank clerk who doesn't want to do his job. |
Thanks for the quick reply. I thought it was weird as hell, well I've already got my expat account (Regular savings) registered with them and all my remittance info is already stored. I'm thinking I might have to close this FC account and try opening it again with someone more competent. The clerk was saying something about regulations for foreigners.
Just to clarify things. The FC account is supposed to act just like the savings account right? Except the default currency is not KRW? Do you know the specific name of the account you opened? I think I got "Demand Deposit" |
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nathanrutledge
Joined: 01 May 2008
Location: Marakesh
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| Posted: Mon May 09, 2011 1:28 am Post subject: |
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| Mine is listed as F/C Ordinary Deposit. Really, all you need to do is go to the bank, tell them you want online banking and the ability to transfer, bring in the papers you need and get them to set it up. If you can't get that branch to do it, go to one of the special foreign banking centers they have set up. They might only be in Seoul, not sure, but they'd be able to help you out no problem. |
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winterfall
Joined: 21 May 2009
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| Posted: Mon May 09, 2011 2:17 am Post subject: |
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| nathanrutledge wrote: |
| Mine is listed as F/C Ordinary Deposit. Really, all you need to do is go to the bank, tell them you want online banking and the ability to transfer, bring in the papers you need and get them to set it up. If you can't get that branch to do it, go to one of the special foreign banking centers they have set up. They might only be in Seoul, not sure, but they'd be able to help you out no problem. |
Will do, thanks a lot! |
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isitts
Joined: 25 Dec 2008
Location: Korea
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| Posted: Tue May 10, 2011 10:22 pm Post subject: Re: KEB Multi Currency Account |
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| winterfall wrote: |
There's a thread that's similar to this but it didn't answer some basic questions I have.
I just opened a KEB Foreign currency account. And I was told that in order to deposit money, you need to show up in person with your passport and you get a stamp for each million won you convert. If you want to withdrawal (To convert to KRW) or do a remittance from the FCA you have to show your ARC card.
There is no internet access to the FCA besides seeing what your balance is.
My Korean is a little bit sketchy. Can anyone confirm this?
I live pretty far from the mainstream KEB branches and even calling them on the phone is better than other Korean banks but, still no I've ever talked to is fluent enough to explain complicated things. Better to talk to people with experience.
Thanks in advance |
This was the same with my account. I think it's crap, but I didn't argue because I don't want to move the money out of Korea.
I may take nathanrutledge's advice and go to a Seoul branch and make amendments to the account. |
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isitts
Joined: 25 Dec 2008
Location: Korea
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| Posted: Tue May 10, 2011 10:24 pm Post subject: |
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[quote="nathanrutledge"]You don't need your passport for anything except entering and leaving the country. You've got your ARC, that's all they need. Don't let them write anything in your passport, EVER. That's not what it's for, and it CAN cause grief for you when you go back to your home country (people at immigration saying "hey, what the heck is this crap...).
quote]
That's good to know. Thanks. |
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Who's Your Daddy?
Joined: 30 May 2010
Location: Victoria, Canada.
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| Posted: Tue May 10, 2011 10:53 pm Post subject: Re: KEB Multi Currency Account |
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| isitts wrote: |
| winterfall wrote: |
There's a thread that's similar to this but it didn't answer some basic questions I have.
I just opened a KEB Foreign currency account. And I was told that in order to deposit money, you need to show up in person with your passport and you get a stamp for each million won you convert. If you want to withdrawal (To convert to KRW) or do a remittance from the FCA you have to show your ARC card.
There is no internet access to the FCA besides seeing what your balance is.
My Korean is a little bit sketchy. Can anyone confirm this?
I live pretty far from the mainstream KEB branches and even calling them on the phone is better than other Korean banks but, still no I've ever talked to is fluent enough to explain complicated things. Better to talk to people with experience.
Thanks in advance |
This was the same with my account. I think it's crap, but I didn't argue because I don't want to move the money out of Korea.
I may take nathanrutledge's advice and go to a Seoul branch and make amendments to the account. |
I have this account and internet access. But with the internet I can only look at it, I can't transfer money in or out of it. |
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NSMatt
Joined: 29 Dec 2008
Location: London
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| Posted: Wed May 11, 2011 7:59 am Post subject: Re: KEB Multi Currency Account |
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| Who's Your Daddy? wrote: |
| isitts wrote: |
| winterfall wrote: |
There's a thread that's similar to this but it didn't answer some basic questions I have.
I just opened a KEB Foreign currency account. And I was told that in order to deposit money, you need to show up in person with your passport and you get a stamp for each million won you convert. If you want to withdrawal (To convert to KRW) or do a remittance from the FCA you have to show your ARC card.
There is no internet access to the FCA besides seeing what your balance is.
My Korean is a little bit sketchy. Can anyone confirm this?
I live pretty far from the mainstream KEB branches and even calling them on the phone is better than other Korean banks but, still no I've ever talked to is fluent enough to explain complicated things. Better to talk to people with experience.
Thanks in advance |
This was the same with my account. I think it's crap, but I didn't argue because I don't want to move the money out of Korea.
I may take nathanrutledge's advice and go to a Seoul branch and make amendments to the account. |
I have this account and internet access. But with the internet I can only look at it, I can't transfer money in or out of it. |
Something is amiss here. I was told that I cannot transfer money from the savings account into the foreign currency account online, but I can send money home (from either account) using online banking. |
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