Korean Job Discussion Forums

chris_J2 · Joined: 17 Apr 2006 Location: From Brisbane, Au.

I admit I am clueless with regards to banking in Korea. Any recommendations for a good bank, with lots of branches around the country, to get my monthly salary paid into?

Cheers

spliff · Joined: 19 Jan 2004 Location: Khon Kaen, Thailand

I'd go w/ KB Bank. Open an account and ask for an "international cash card" it's better than the regular atm card as you can use it if your out of the country to withdrawl funds. Also, you can use it at stores here in Korea as a debit card. And they only cost a Buck when you open your account!

poet13 · Posted: Thu Apr 27, 2006 2:10 am Post subject:

I have only ever used KB bank here, so I dont know about others. However, I have had nothing but good experiences. Their ATMs always seem to be working. Any location with more than one atm almost invariably has one with english on it (ok, i'm out in the middle of nowhere and some dont), and wiring money to family otu of country has never been a problem.
So, without knowing another banks practises, I would still recommend KB.

chris_J2 · Joined: 17 Apr 2006 Location: From Brisbane, Au.

Thanks guys!

I-am-me · Joined: 21 Feb 2006 Location: Hermit Kingdom

I had to open an account at nonhyop...which i never learned to spell correctly..,and they also offer an international card. I also opened a dollar account. I would probably go with KB since they seem to have more teller machines around. Nonhyop doesnt have as many. I just don't feel like doing all the paperwork again. Shocked

Grotto · Joined: 21 Mar 2004

KB is good for banking within Korea.

KEB is good for sending money out of Korea or getting money orders.

Col.Brandon · Joined: 09 Aug 2004 Location: Seoul

Wangja · Joined: 17 May 2004 Location: Seoul, Yongsan

From my own experience, I have had a Shinhan account for nearly 8 years and have never had cause for complaint. My account is complete with international debit card, international VISA charge card and recently international Mastercard CC. Only thing is I cannot get their internet banking system to work.

Also, I have had a Woori a/c for 3 years - again no complaints, except they would not consider an application for a credit card, and their internet banking works brilliantly - and that is why I keep the account.

I also have and have had term deposit accounts with KEB, KB, Chaeil (now Chaeil-SCB) and KIITC. All have been fine and done exactly what they said they would do.

The efficiency of the banking system here is a huge positive point.

spliff · Joined: 19 Jan 2004 Location: Khon Kaen, Thailand

spliff · Joined: 19 Jan 2004 Location: Khon Kaen, Thailand

Wangja · Joined: 17 May 2004 Location: Seoul, Yongsan

spliff · Joined: 19 Jan 2004 Location: Khon Kaen, Thailand

Wangja · Joined: 17 May 2004 Location: Seoul, Yongsan

The charge card is unsecured with a limit of 23 million of which 8 million can be overseas.

steroidmaximus · Joined: 27 Jan 2003 Location: GangWon-Do

From personal experience, do not use HANA Bank. I received such poor service and so much conflicting information from them it was ridiculous. Also, whenI was in Canada last, my ATM card suddenly stopped working. How do you spell p-i-s-s-e-d o-f-f?

Best so far is KEB and KB; they actually understand that maybe foreigners do live in Korea and need financial services.

buster brown · Joined: 26 Aug 2005 Location: Seoul

I opened a Nonghyup account because there's one on campus and my pay is direct-deposited there. At my branch they told me there would be a fee of US$75 for international wire transfers during the first year I had the account, after which the fee would be something in the 10,000won range. I asked the same question 3 or 4 different times because I was sure they were talking about something else. I got the same response each time. On the positive side, they gave me an international debit card which renders the service fee ineffective. However, I'm still planning to open an account at KB just to have a cost-effective option for sending money home.