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Overture1928
Joined: 12 Jan 2014
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 Posted: Mon Oct 20, 2014 8:09 am Post subject: Re: The most xenophobic bank in Korea is........ |
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| big_fella1 wrote: |
Citibank Korea
1. No mortgages for permanent residents even though SGC 서울보증보험 lost a case before the National Human Rights Commission 4 years ago for trying the same nonsense;
2. No Check Cards for foreigners without paying ₩35,000 yet Koreans get them free;
3. Requiring both passports and salary slips to register as your international bank despite the FSS guidelines only requiring a passport unless transfers exceed USD$50k a year.
I could go on but all I can do is watch branch after branch closing wondering how long it is until this inept management sees Citibank Korea close with all the staff being unemployed.
Xenophobia doesn't only hurt those that are discriminated against but anyone that relies on discriminatory companies for their employment. |
Are you sure it's not just a deposit which you will get back when you return the card? KB's was a 30,000원 deposit for a transit card linked your bank account.
I would say 신한 (Shinhan) is quite conservative. They denied me for a credit card even though I make over the minimum and will not give me a transit card linked to my bank account just because I am a waygook.
The thing that actually is the most annoying about the banks is the awful atms. Where the hell is the back button? Why can't you ask me if I would like to make another transaction instead of having to constantly insert my card and password. The online security shit is also quite over the top too. |
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Who's Your Daddy?
Joined: 30 May 2010
Location: Victoria, Canada.
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| Posted: Mon Oct 20, 2014 9:10 am Post subject: |
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If you save significant amounts of money in Korea (say more than $50K) be careful; tt can be difficult to get it out. After living there 11 years, my bank only let me send out about $160K when I was leaving. I had to use my wife's family members as smurfs - each sending out $50K.
Basically the banking laws still act like "how could a foreigner make much money, he must be a criminal". |
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KimchiNinja
Joined: 01 May 2012
Location: Gangnam
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| Posted: Mon Oct 20, 2014 4:00 pm Post subject: |
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| Who's Your Daddy? wrote: |
If you save significant amounts of money in Korea (say more than $50K) be careful; tt can be difficult to get it out. After living there 11 years, my bank only let me send out about $160K when I was leaving. I had to use my wife's family members as smurfs - each sending out $50K.
Basically the banking laws still act like "how could a foreigner make much money, he must be a criminal". |
Well you need to show your prior year KR tax return demonstrating that you actually made as much money (legally) as you are wiring back to the USA. This is reported to the IRS. It's annoying, but it's not xenophobia. |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Mon Oct 20, 2014 9:25 pm Post subject: Re: The most xenophobic bank in Korea is........ |
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| Overture1928 wrote: |
| KB's was a 30,000원 deposit for a transit card linked your bank account. |
Credit cards being one thing, but I've always wondered about the transit card bit. It's not like I can rack up a significant amount riding public transit. It's a friggin' transit card. Why not just link it, like they do for the check cards, and withdraw it from our account every time? |
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Lucas
Joined: 11 Sep 2012
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| Posted: Mon Oct 20, 2014 9:36 pm Post subject: |
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| I had to use my wife's family members as smurfs - each sending out $50K. |
Why not just stuff it in your fanny? Is that too much money for you to take? |
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big_fella1
Joined: 08 Dec 2005
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| Posted: Sat Oct 25, 2014 3:39 am Post subject: |
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| Steelrails wrote: |
| While there is something there, I'm not sure xenophobia is the correct term. 'Exploitative' or 'Woefully inept' I think is what it is. |
When the reason is because you're foreign, xenophobia is the exact word and it really isn't too much of a stretch to call it racist although not technically correct. |
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Stan Rogers
Joined: 20 Aug 2010
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| Posted: Sat Oct 25, 2014 5:01 pm Post subject: |
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| Who's Your Daddy? wrote: |
If you save significant amounts of money in Korea (say more than $50K) be careful; tt can be difficult to get it out. After living there 11 years, my bank only let me send out about $160K when I was leaving. I had to use my wife's family members as smurfs - each sending out $50K.
Basically the banking laws still act like "how could a foreigner make much money, he must be a criminal". |
My understanding was that you are not allowed to send out more than you can prove your legally made. Plenty of foreigners get nabbed for trying to export illegally obtained money. |
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schwa
Joined: 18 Jan 2003
Location: Yap
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| Posted: Sat Oct 25, 2014 5:45 pm Post subject: |
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| Quick & simple to obtain an official income & tax statement from your local tax office, going back however many years. Within those figures, there shouldnt be any annual transfer limit. [My recent experience with Nonghyup.] |
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Steelrails
Joined: 12 Mar 2009
Location: Earth, Solar System
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| Posted: Sat Oct 25, 2014 5:51 pm Post subject: |
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| big_fella1 wrote: |
| Steelrails wrote: |
| While there is something there, I'm not sure xenophobia is the correct term. 'Exploitative' or 'Woefully inept' I think is what it is. |
When the reason is because you're foreign, xenophobia is the exact word and it really isn't too much of a stretch to call it racist although not technically correct. |
Xenophobia is based on fear and wanting foreigners out. Exploitation is based on greed and wanting to get as much money out of those foreigners. Neither is good, but confusing things by misreading the situation doesn't improve matters. |
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tophatcat
Joined: 09 Aug 2006
Location: under the hat
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| Posted: Sat Oct 25, 2014 5:55 pm Post subject: |
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| Steelrails wrote: |
| big_fella1 wrote: |
| Steelrails wrote: |
| While there is something there, I'm not sure xenophobia is the correct term. 'Exploitative' or 'Woefully inept' I think is what it is. |
When the reason is because you're foreign, xenophobia is the exact word and it really isn't too much of a stretch to call it racist although not technically correct. |
Xenophobia is based on fear and wanting foreigners out. Exploitation is based on greed and wanting to get as much money out of those foreigners. Neither is good, but confusing things by misreading the situation doesn't improve matters. |
SR has the best explanation. As he states, and I back him up on this one, it's Xenophobia and Exploitation. |
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