Korean Job Discussion Forums

r. · Joined: 06 May 2006

I know this has been covered ad nauseum, but I did a search and didn't find exactly what I need. So, what do I need to do/have to wire money to a checking account in the states? Do I just go to the teller at my bank (Woori bank) with my home account/routing number? Any other info I should about my home account? What exactly is the fee?

azzwell · Posted: Mon Aug 28, 2006 8:01 am Post subject: banking

go to the bank with ARC, your routing number, account number, and just to be safe, passport and paystubs or copy of contract. Money takes 7-10 days to appear in the U.S.
You may have to show your passport and get it stamped, you may not. You may also have to show proof of income, or you may not, it varies on the bank.
I use Korea Exchange Bank. Cheapest, fastest, least hassle that I have found.
Fee varies by bank here, from 10-30 dollars U.S. Also your U.S. bank may tack on a few.

dogshed · Joined: 28 Apr 2006

Someone else recommended mailing a money order or traveler's check instead. -Jeff

Milwaukiedave · Joined: 02 Oct 2004 Location: Goseong

I think the travelers check or money order would be fine if you were actually taking a trip home, but I wouldn't do it through the mail. The banks charge about the same amount for a money order anyway.

Generally when I've transfered money, its shown up in my US account pretty quick. The most it has ever taken is a day or two.

dogshed · Joined: 28 Apr 2006

krisinkorea · Joined: 16 Mar 2006 Location: Not too far from Seoul

Thought I should put my two cents in about this also after having annoying conversations with banktellers. Okay, Korea Times. August 23, 2006. Foreigner asks: Can I transfer money and how much? Korea Times says: You can transfer your entire...let me reiterate...entire salary...as long as you have a tax form from your school stating your salary. If you don't not have a tax form go to the Bank of Korea. If all else fails, and they do NOT know, contact the ministry of finance and economy at 2110-2348.

Don't go through the confusion and getting your passport stamped for no reason.

This is really important I think!!!

JeJuJitsu · Joined: 11 Sep 2005 Location: McDonald's

ttompatz · Joined: 05 Sep 2005 Location: Kwangju, South Korea

fruitcake · Joined: 18 Apr 2004 Location: shinchon

I was doing it through PC banking for three years at Wooribank, which saved me 10,000won in remittance fees (10,000 vs 20,000won). It was faster and more convenient, and my money showed up in my state's account within 48hrs (there was $15 fee stateside as well). The only hassle was having to renew my application at the beginning of each year (with tellers who had no clue how to process such paperwork). So, after 3 years of doing this, when I went to register again, they told me I had to live in Korea for 5 years in order to use PC banking. Wha???? Glad to know they are so on-the-ball regarding their own regulations. So last two years I had to do it in person. Fortunately, you can find the one teller who knows you and can get the paperwork wacked out in a jiffy.
word to the wise: save your receit from your last remittance if sending to the same place. will make the process go much faster. And yes, always bring your ID and passport.