Korean Job Discussion Forums

[robb9]

Before everyone gets up in arms, let me explain. I checked the FAQ's as well as did a search for my question. When I tried to check International ATM's I got over 172 pages telling me about mexican rest. as well as where to buy tampans. So please forgive my lack of computer skills.

I have been banking at Shinhan for a couple of years. I went home last year for vacation(USA) and Shinhan gave me an international ATM card. I am now told that I can not take my money out of ATM's other then Korea. Please tell me I misunderstood. From what I was told its OK for Koreans to use their atm card anywhere they please, but since I am not korean, mine is only valid in korea, not my home country. Is there anyway around this, or is this the cold, hard facts?

Any relevent information please. I dont want people telling me about my grammer, my views on korean banking are racist. Please dont tell me about fun trips you have gone on in the past and read about someone who was friends with someone who lives in korea and may or may not have used an atm card.

Thanks in advance for any useful information that you can give me.

cheers

robb

[Hyeon Een]

[cwemory]

There are also some Korean banks (Kookmin, Nonghyeop) that issue cards called "international cards" that don't work outside of Korea.
Usually the bank employee who issues the card is unaware that it doesn't work outside Korea.

[robb9]

Thanks for the reply, but I found out the answer from one of my contacts. I hope that this explains it for everyone. cheers


I checked into this and was informed that the Ministry of Finance made a regulation last December that precluded "foreigners" from using international ATM cards (or cheque cards) overseas
This is a very strange regulation particularly when Korea is presenting itself as an "international financial hub" but apparently was done to better monitor & control foreign currency exchange ????????
You can still conduct foreign currency exchange transactions at the bank counter prior to leaving for overseas

[Tiger Beer]

[Col.Brandon]

I had this very conversation with a bank employee today. Even though I'm on an F2 visa (a resident) I can't get an international ATM card. Nor can I when I get an F5 down the track. What I can do, however, is get my wife to open an account in her name, and have her give me the card. Ridiculous, but it solves my problem in a roundabout way. From there it's just a matter of a little funds transfer between the accounts via internet banking, and viola!. It still p!sses me off, though. Xenophobic arseholes.

Korea, the hubcap of Asia.

Hey, just an idea - now that Jeju is a free trade zone, would there be a loophole there?

[mishlert]

KEB has a card called World Cash Card which works overseas and can be gotten by anyone, including foreigners. How it works is that you put a certain amount of money in the card and that is your limit for spending, and taking out of ATMs overseas.

[Tiger Beer]