Korean Job Discussion Forums

coulter · Joined: 21 Apr 2004 Location: Gangwon-Do

I send money home almost every month. It costs 18,000 won at the Korean bank and the Canadian bank (Royal) takes $10. About fifty percent of the time an extra $10 is taken by some other bank that is used to transfer the money (according to the Royal Bank). It usually takes 2 days for the funds to reach my Canadian account (sometimes less).

Tommy · Joined: 24 Aug 2005

Just did the exact same thing this month. I'm with Kookmin Bank - they charge $15, and my Canadian bank charges another $15. Usually takes 2-3 days. All the other major banks in Korea are able to do this at similar costs. Or you can send via Western Union (also through Kookmin Bank I believe) and only get charged $15, but have to have a recipient on the other end to receive it.

davai! · Joined: 04 Dec 2005 Location: Kuwait

Step 1: Exchange your won to American Express Travelers Checks. They come in a variety of currencies, the USDollar ones were about 3 or 4 won per dollar more than cash.

Step 2: Make them out to yourself, endorse with your bank acct. info on back/ "FOR DEPOSIT ONLY"

Step 3: Go to Korea Post and send them to your home bank in a no questions asked, customs-free Airmail envelope. Cost for shipping is 560won +price of envelope.

I never waited more than 7 days for the deposits to reach my account. Was sending about 1000 USD a month home, cost me less than $4.

peppermint · Posted: Tue May 02, 2006 12:54 pm Post subject:

Wire transfers between Korea and Canada are pretty fast, too. I wired a pile of money home on Wednesday in Korea, and was able to withdraw it when I landed in Canada on Friday.