Korean Job Discussion Forums

[ed]

every few months my wife and I have the same argument. we deal with shinhan bank and every few months we need to send money to our bank account in Canada.

for all transfers, every detail is exactly the same except the date and the amount.

yet, every time, we need to go together and sit down with someone for 20 minutes to get this done.

we are both busy people but my wife says it must be done this way. I say if all details are the same and everything is on their computer, shouldn't this take 2 minutes?

[ed]

do you have to go to the bank and sit with a worker for 20 minutes to transfer to your country?

[ttompatz]

[Pablo]

Korea Exchange Bank's (KEB) remittance account is called an Easy-One account, and it is convenient and popular:

1) You set up the Easy-One account one time at KEB, providing details of the overseas account where you will be sending your money to.

2) ANY money (above a 100,000 won minimum if I remember correctly) that you or anyone else deposits into your Easy-One account in Korea (at the bank, via ATM, or online) is automatically processed the same business day and set up for an immediate wire transfer. Deposit > FOOM! > It's automatically processing.

3) The money arrives in your overseas destination account just like a normal wire transfer.

4) The wire transfer fee deducted for each Easy-One transfer is substantially discounted from the regular fee amount.

5) Just to be clear: You cannot use the Easy-One account to store Korean won. Use a regular account for that. Anything that you deposit into the Easy-One account will be automatically remitted to your overseas account.

HTH

[ed]

thank you everybody! I think I will run down to KEB and open an easy one account..

[bcity]

[NQ]

My Korean girlfriend sends my money to my Canadian account through KB bank's website. It doesn't take that long, as they save the info from last time. You don't have to go to the bank at all. I assume Shinhan bank has something similar.

Going to the bank is such a pain in the ass. They're only open from 9 AM - 4 AM, and basically only on weekdays, so you're always working then. It's not like Canada where they have late hours and are open on Saturdays. I'd imagine that banks being open on Saturdays would also be popular in Korea too. Don't know why they don't implement it.

EDIT: Ed, they should give you a print out of the transaction. Just save that and use it everytime you have to go to the bank to do the transaction. I think that they take a long time doing it because they really want to make sure that they don't screw anything up....these guys aren't accustomed to sending money to overseas accounts.

[ttompatz]