Korean Job Discussion Forums

[LeaforKorea]

I own a house here in the US that I will be renting out while I live in Korea and I will still need to make my monthly mortgage payments.
My friend will be depositing the rent I receive into my US account for me. Will I still be able to go online and access my US accounts to make my mortgage payments online as usual?

How do I make deposits into my US bank account from the salary I receive in Korea?

Will I be able to use and make online payments to my US credit card from Korea?

[Ballerina2012]

Just set everything up for automatic payment. You can do it with your credit cards online at each cc website. Set it up with your mortgage co. too. You can transfer $$ from here to your USA bank through your Korean bank too.
I did that before I left and no problems.

[thegadfly]

Set up online banking while you are in the US -- I have accounts at Bank of America, and I have never had a problem accessing my accounts from Korea.

I use KEB in Korea, and have a regular account and a Foreign Remittance Account (Easy-One). Any money you deposit into that account gets sent to the linked bank account in a foreign country. For me, that is my Bank of America checking account. My salary is direct-deposited by my school into my KEB savings account. I go online (or to a teller, or the ATM if I want, though I never do) and transfer the amount I want to send to the US from savings to the Easy-One account. The money shows up in my US account within a day (fastest I have ever seen was under 10 minutes. The longest it ever took for me was 24 hours. Most of the time, it is less than 8 hours in my experience).

Set up direct bill pay from your US bank account, or even set up automatic payments as Ballerina suggested. I DON'T do automatic payments myself, because I want to get the message when a bill is due and double check the amounts, but I pay my credit cards and utilities on the rentals in the US that way (I include electric and water in the rent, and I get those bills electronically, and pay them online from Korea with no problem).

[LeaforKorea]

Cool! That sounds very do-able.

Thanks for the tips guys!

[Cacille]

Yes, it is very easy to pay bills, and the costs to send money from Korea to the USA are not bad - max of $40, depending on your bank.

I have all my bills set up, only a few are auto-pay. I login to online systems to pay manually each month and prefer it that way. I just send an amount from my account using the ATM, and in 2-3 days it's in my USA bank. Then I simply login to whatever online system I need (credit card, sallie mae, bank) and set up a payment.

[yolshim]

I send money from my Korean Citibank account to US Citibank account. It transfers instantly and is cheaper than other Korean banks. If it's a payment that is the same every month you can have it set up to remit automatically.

[olivia-lb]

those of you using Bank of America, is there a fee every time you send money? How much is it?

[olivia-lb]

those of you using Bank of America, is there a fee every time you send money? How much is it?

[davai!]

There are zero fees if you use Amex Travelers Checks via deposit by mail, except 500 won or so for the airmail stamp. Time in transit about a week.

[Weigookin74]

[Weigookin74]

Transfer fees are insignifigant. I pay 5,000 won to Nonghyup and RBC Bank charges 15 dollars to recieve the money no matter what the amount is. I assume B of A is similiar.

[dg7104]

You live in the 21st Century. All that stuff is available online. Payments, credit card use/payment, transferring money. Amazon.com will even ship to Korea if you really need something.

Use skype or magic jack, then you can call for free or no money. Don't use calling cards, it's way too expensive.