Korean Job Discussion Forums

[Jotofpam]

Hi,

A friend of mine needs to transfer money from their account in the UK to my account in Korea. Both of us have only ever transferred within the UK before, and I'm confused by what information she needs to transfer the money to me.

I bank with KB, and I can't seem to find out anything further than my bank account number - can anyone advise what information I need?

Also, are there any credit cards available to E2 visa holders? A pre-paid card is fine, I just want to hire a car for a road trip and can't find anywhere where a credit card isn't a requirement!

thanks.

[Seoulman69]

There are a couple of ways to do this so I will mention as much as possible. First you need the Korean banks BIC/SWIFT number. After that you may need the sort code and the account number. Some banks don't use sort codes, some include it in the account number. You will also need the name of the bank, the branch address, and all of the recipients details.
It is up to you and your friend to go to your respective banks and find out the exact information needed.

[deizio]

General SWIFT / BIC for KB seems to be CZNBKRSE. You can look for websites that find SWIFT / BIC numbers to confirm, or you might find it on your online banking portal somewhere. My experience with KEB is that there's one general code, rather than individual ones per branch.

That plus the account number is the minimum required, although you would want to include the branch address, your contact number etc. The transferring bank will probably ask for all of this in any case.

The bank should ask the transferrer how they want the fees to be paid - by sender, receiver or shared. It's generally least hassle for the sender to pay them, although you can still both end up paying something. Likewise if they want the amount denominated in Won or £.

KB might call you to ask the purpose of the transfer if it's a significant amount. "Tuition fee" tends to raise the least eyebrows

There have been any number of credit card discussions on here that you could track down, usual route is to talk to your bank. Depending on your bank's policy, your income, employer and the mood of the teller you might get knocked back, asked to put down a deposit, or welcomed with open arms.

Credit cards here don't allow you to carry a revolving balance like in the UK. If you have to put down a deposit it's essentially pre-paid as your "credit" limit will be equal to or less than the deposit, and they use that if your balance doesn't clear.

[FriendlyDaegu]

[CentralCali]

Your friend could always try Western Union. All your friend needs to know is the recipient's name, address, and phone number. You then go to one of the many bank branches in Korea that operates Western Union, show your identification, and get your money.

[Smithington]

[aq8knyus]