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morrisonhotel
Joined: 18 Jul 2009
Location: Gyeonggi-do
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 Posted: Sat Mar 03, 2012 10:14 am Post subject: |
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| zoeksk wrote: |
On another note if I have to pay back my student loan while I'm in Korea (this is the only bill I need to pay while abroad) do I have to do it monthly? and does anyone have any idea what the repayments are like? |
You do have to pay it back. Yes, pay monthly. You'll be looking at about 30 - 35 quid per month. |
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emmajuno
Joined: 11 Sep 2010
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| Posted: Mon Mar 05, 2012 6:05 am Post subject: |
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| zoeksk wrote: |
I went into my bank the other day (Natwest) and told them what I was doing. They said that they do charge a % to take money out of a cash point but not to use my card to pay for things (ie in a supermarket or at a restaurant)
They also said that although they DO NOT charge AT ALL for receiving payments from abroad the bank I am sending it through probably will and also the government might take some? I don't know if this only applies to graduate accounts with Natwest but if you can open one, I would. Avoid HSBC though I went in to discuss it with them and they said they only way I could avoid charges for sending/receiving money from abroad or using a card abroad was to pay a monthly fee to open a world-wide bank account (of course they wouldn't charge me if I put �50,000 in there and I was allowed to have the first 3 months free whilst I built up that amount) |
I would be very wary of Natwest if I were you.
I told Natwest that I was going to Korea for one year. I told them to put a note of it on my account. I had a �1,300 overdraft outstanding (graduate account) that wasn't due back for two years. I was asked for a forwarding address and when I told them that I had internet banking, I was told it wasn't necessary. Given the amount of money it cost to transfer money to England (40,000won per transfer) I decided to save all the money and pay back my overdraft in one go. When I arrived home I found out that Natwest had sent me to creditors. They shut down my account and did not inform me at all. They sent letters to my previous address in England and refuse to admit fault. I received no emails and nothing was put onto my internet banking. I'm still fighting with them to get reinstated and have been going through the complaints process for almost two months now, not getting anywhere. I've paid off my overdraft in full. I'm sure I'm one of the few graduates that has managed to do that so quickly. |
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zoeksk
Joined: 21 Jan 2012
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| Posted: Mon Mar 05, 2012 6:20 am Post subject: |
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Seriously?! My grad overdraft it currently �1800 and I was thinking of getting the extra �200 for emergencys and then paying back in a lump sum. They said I don't have to pay back anything until November 2012 and even then my overdraft is only interest free up to �1000 so to avoid charges that's the amount I have to pay off. They have my parents address and phone number and I've made my mum memorise my passwords etc so that she can answer questions for me  fortunately I will be using my account to pay for things back home whole I'm in Korea so they shouldn't shut it down right? |
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emmajuno
Joined: 11 Sep 2010
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| Posted: Mon Mar 05, 2012 6:35 am Post subject: |
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| zoeksk wrote: |
| Seriously?! My grad overdraft it currently �1800 and I was thinking of getting the extra �200 for emergencys and then paying back in a lump sum. They said I don't have to pay back anything until November 2012 and even then my overdraft is only interest free up to �1000 so to avoid charges that's the amount I have to pay off. They have my parents address and phone number and I've made my mum memorise my passwords etc so that she can answer questions for me fortunately I will be using my account to pay for things back home whole I'm in Korea so they shouldn't shut it down right? |
Wrong. I used my card a couple of times to pay for things. I was told the same thing. They f****d me. If that's your plan then agree it with the bank first. Graduate accounts apparently have it written into their terms of service that you need to put money in every 42 days. I don't know how much money. I reckon if you get your mum to put �1 in every month it should be ok. Ask them, though. |
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zoeksk
Joined: 21 Jan 2012
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| Posted: Mon Mar 05, 2012 8:59 am Post subject: |
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| Thanks for all the advice I'm gonna go into natwest and get it in writing how long I can leave it between payments and will also sort out my loan repayments seriously without this forum I would have been screwed over so many times! |
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