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MANDRL
Joined: 13 Oct 2006
Location: South Korea
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 Posted: Tue Oct 24, 2006 8:10 am Post subject: TRANSFERING MONEY FROM KOREA TO US CHECKING ACCOUNT |
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| I am going to be going to Korea in January and would like to know if anyone ever transfers money to their US checking account (Bank of America)and is able to do on line bill payments? Also, this question may be lame, but are there any restrictions to the web sites accesible in Korea as opposed to the United States? In other words, will I be able to access my Bank of America account from Korea? Thanks for the input! |
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Canadian Club
Joined: 12 Aug 2006
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| Posted: Tue Oct 24, 2006 3:29 pm Post subject: |
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| I'm not sure about the Bank of America, but I have no problem doing wire transfers to the Royal Bank (Canada). |
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two roads
Joined: 04 Jan 2006
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| Posted: Tue Oct 24, 2006 6:05 pm Post subject: |
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You can transfer to Bank of America. Just make sure you get the international routing number from them. The routing number on your checks is the domestic number. (If you already knew that, sorry, I didn't know when I came here.  ) |
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MANDRL
Joined: 13 Oct 2006
Location: South Korea
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| Posted: Tue Oct 24, 2006 6:09 pm Post subject: |
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I didn't know that was a domestic routing #, so thanks for the tip!  Do you access your account from Korea as well on-line? |
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Novernae
Joined: 02 Mar 2005
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| Posted: Tue Oct 24, 2006 7:37 pm Post subject: Re: TRANSFERING MONEY FROM KOREA TO US CHECKING ACCOUNT |
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| MANDRL wrote: |
| Also, this question may be lame, but are there any restrictions to the web sites accesible in Korea as opposed to the United States? In other words, will I be able to access my Bank of America account from Korea? Thanks for the input! |
The only websites you won't be able to use are the sites by stupid people who use stupid hosting companies who are too stupid to properly deal with security so they stupidly ban countries from visiting their stupid websites. That comes from the west, not Korea. Check to see if the Bank of America has one of these stupid hosting companies if you are concerned. |
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jmbran11
Joined: 19 Jan 2006
Location: U.S.
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| Posted: Tue Oct 24, 2006 8:20 pm Post subject: |
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You'll be fine. I use Washington Mutual (not B of A), but it's all relatively the same. If you use a Korean bank that is accustomed to dealing with foreigners, it is all very simple. I transfer my entire salary home each month to pay bills, which I do online.
In addition to the account and routing number (mine works fine with the domestic routing number), you may need a SWIFT code from your bank. This can usually be found on the bank's website or you can send a quick e-mail to a cus. ser. rep. You may also need the proper street address of the bank (not your branch), which should also be on the website. |
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kat2
Joined: 25 Oct 2005
Location: Busan, South Korea
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| Posted: Tue Oct 24, 2006 8:40 pm Post subject: |
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| I have a Bank of America credit card and paid it online today from Korea. No problems at all. Also, alert your bank that you will be overseas indefinitly and to accept any overseas transactions. Sometimes they will put a block on overseas transactiosn to prevent fraud. |
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MANDRL
Joined: 13 Oct 2006
Location: South Korea
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| Posted: Wed Oct 25, 2006 8:20 am Post subject: |
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| Thank you all for the information!! |
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snehulak
Joined: 20 Nov 2005
Location: USA
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| Posted: Thu Oct 26, 2006 5:26 am Post subject: |
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| I have a bank of america account and have had no problems transferring money using my domestic routing number. online banking and billpay also works normally. |
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davai!
Joined: 04 Dec 2005
Location: Kuwait
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| Posted: Thu Oct 26, 2006 3:53 pm Post subject: |
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| save the $25-60 in fees by buying travellers checks and sending them directly to yourself via your bank in an airmail envelope. I sent mine to WaMu in Los Angeles and it never took more than 7 days. |
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Novernae
Joined: 02 Mar 2005
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| Posted: Thu Oct 26, 2006 6:31 pm Post subject: |
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| davai! wrote: |
| save the $25-60 in fees by buying travellers checks and sending them directly to yourself via your bank in an airmail envelope. I sent mine to WaMu in Los Angeles and it never took more than 7 days. |
Are there no fees for cashing the traveller's cheques? When I was going to Argentina they were recommended against as there was something outrageous like a 10% charge to cash them. I've shied away from them ever since assuming everywhere was like that. |
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jmbran11
Joined: 19 Jan 2006
Location: U.S.
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| Posted: Thu Oct 26, 2006 10:48 pm Post subject: |
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| davai! wrote: |
| save the $25-60 in fees by buying travellers checks and sending them directly to yourself via your bank in an airmail envelope. I sent mine to WaMu in Los Angeles and it never took more than 7 days. |
Don't traveller's checks have to be signed in person to cash them? This question has been asked before, but I don't know the answer. Please explain. |
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davai!
Joined: 04 Dec 2005
Location: Kuwait
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| Posted: Fri Oct 27, 2006 12:17 am Post subject: |
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| Don't traveller's checks have to be signed in person to cash them? This question has been asked before, but I don't know the answer. Please explain. |
Not if you deposit them to your bank. they do require the signatures match. Sign the second line, then write your own name in the payee line. Then, on the back, endorse as you would a check, " For Deposit Only, etc."
| Quote: |
| Are there no fees for cashing the traveller's cheques? When I was going to Argentina they were recommended against as there was something outrageous like a 10% charge to cash them. I've shied away from them ever since assuming everywhere was like that. |
There are no fees to deposit T/C's into your American bank acct. You pay about 3 won per Dollar to buy them, that's where AmEx makes their money. It is also perfectly legal - the bank will stamp your passport with the amt. you exchange and you will need to prove earnings if you go over 10000USD in a year. |
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swupak
Joined: 18 Nov 2005
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| Posted: Fri Oct 27, 2006 12:26 am Post subject: |
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| jmbran11 wrote: |
| Don't traveller's checks have to be signed in person to cash them? This question has been asked before, but I don't know the answer. Please explain. |
Traveler's checks have two blank signature lines. As soon as you get the traveler's check, you're supposed to sign the first line. When you want to use the traveler's check, either at a merchant or at a bank, you sign the second line in front of the person working there. The person accepting the traveler's check compares the signature on the second line to the signature on the first line. If they reasonably match, the transaction goes through. Sometimes you may be asked for some form of identification. In the U.S., I was asked for a driver's license when I used a traveler's check at a CVS (pharmacy chain). Some traveler's checks designed for couples have two original signature lines. That way, either person can sign the traveler's check to use it.
Sending a traveler's check home is a decent way of getting money home, but you have to have a trustworthy person at home and, maybe slightly more importantly, you send the traveler's check unsigned, so that the person cashing the check can sign the original signature line and the confirming signature line. If you sign the original signature line and lose a traveler's check, it's not a big deal to get a replacement (maybe even for free). If you don't, then you're just probably out that money. I'm not sure about that last part, but I can't imagine an issuer of a traveler's check saying, "Okay, even though you didn't follow our clearly stated policy of signing the original signature line right away, we'll still replace your lost traveler's check."
This is a picture of a traveler's check. There's a place to sign at the top (the original signature line) and at the bottom (the confirming signature line). |
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davai!
Joined: 04 Dec 2005
Location: Kuwait
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| Posted: Sat Oct 28, 2006 10:19 am Post subject: |
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| swupak wrote: |
Sending a traveler's check home is a decent way of getting money home, but you have to have a trustworthy person at home and, maybe slightly more importantly, you send the traveler's check unsigned, so that the person cashing the check can sign the original signature line and the confirming signature line. If you sign the original signature line and lose a traveler's check, it's not a big deal to get a replacement (maybe even for free). If you don't, then you're just probably out that money. I'm not sure about that last part, but I can't imagine an issuer of a traveler's check saying, "Okay, even though you didn't follow our clearly stated policy of signing the original signature line right away, we'll still replace your lost traveler's check."
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Sorry, but this advice is 100% wrong. Sign it over to YOURSELF and then endorse the back with FOR DEPOSIT ONLY and your acct. no. That way no one else can use it for any other purpose. Mail it directly to your bank with a deposit slip and the money goes directly to your account. No middleman necessary.
DO NOT send unsigned TCs through the mail. That is just ridiculous. |
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