Korean Job Discussion Forums

[CarolinaTHeels]

I need to set up a bank account and I am thinking Citi Bank will be a good option as they have branches all over the world.

I think Busan has a Citi Bank branch right?

Anyone have an account with them and use them to pay bills back home?

[alljokingaside]

Citi is the devil. I created an account with Citi back in the States under the impression (which was made by the accountant or handler or whatever) that international transfers between Citi banks had no transaction fees. Wrong.

Moving to Busan, I went and found the Citi nearest to me, in Dongnae. I don't remember specifics (it's been a year), but they charged something ridiculous, at least 50 000 krw more than Busan Bank charges.

Additionally, the waived maintenance fee of $20 that should be waived if over account minimum apparently doesn't get waived. (again, same acct.)

They
Are
The
Devil.

(plus, KEB allows online transfers for a rel. low fee. Busan Bank is decent when it comes to charges too.)

[CarolinaTHeels]

After some digging around it appears Citibank is not the way to go.

Gonna have to figure out the best bank to open an account with in the states that is also good for international use.

[ttompatz]

ALL banks in Korea operate at arm's-length from their international counterparts.

KEB, KB* and Woori (whichever one is convenient for you) are probably your best bet.

At home, it won't make much difference since they are all starting to gouge for anything they can to make up for losses and shortfalls in revenue since 2008.

.