Korean Job Discussion Forums

[politica]

I went to view my balance at Nonghyup today and it was "*46,000." I'm assuming that asterick means I'm in the red.

Here's what happened: I sent a bunch of money home earlier in the month. I knew I was getting low and checked my balance before Chuseok- it was around 30,000. Payday is Friday, and so I thought I would be okay until then. I have not bought anything since checking my balance. The only thing I can think of is that my cell phone company must have done an auto-payment (that only happens once every 3 months, so I kind of forgot about it/wasn't expecting it).

Anyhow, my question is this- what is the policy at Nonghyup or other Korean banks? Will I just have to pay a fee? Is this a big deal or am I worrying over nothing? This is the first time this has happened to me so I'm kind of nervous, and a little angry at myself.

My plan is to take a couple hundred from my U.S. acct. and go to the bank first thing Wed. morning to get it sorted out. I just want to know what to expect . . .

[liveinkorea316]

At my bank any autopay that is more than the balance reduces the balance to zer then the rest is taken out once my salary goes in. Never had any problems with that.

I think you are worrying over nothing. You bank would call you if they rrequired the balance paid ASAP.

[weso1]

As I understand it, all banks will still be closed tomorrow. There's nothing you can really do about it till Wednesday.

Do you have online banking? You should, that way you can instantly who deducted money from you account.

Wait till Wed. and give them a call. If you're going to put money in Friday, I think they'll let it slide. It would be very odd if they shut down your account after a few days of being in default.

Make sure you ask as to what the * means. I know my bank, Shinhan, will occasionally deposit money into my account. Nothing more than a dollar or two for some reason. I've never bothered to ask why since it was such a trivial amount. But maybe * means "pending deposit" or "pending withdraw." Some banks can see a deposit coming and know you can't cover it, so they'll give the account a few days to get the funds up before it makes a deduction.

Don't worry mate. I've found banks here are more reasonable and lenient than back home. American banks will find a way to squeeze whatever it can out of you. Here, being a foreigner, you can still get things done your way, since they just want to accommodate you so you'll leave them alone.

[DaHu]

You're going to jail!

Seriously though, is this your first bank account? People are overdrawn all the time. Go to the ATM and deposit some cash if you're that worried about it, if not, payday is Friday.

If your bank was worried about you not being good for it, they wouldn't have paid the phone bill and your phone would now be off.

[jvalmer]