Korean Job Discussion Forums

[Marley_Doug]

So I'll finally be in Korea next week. Everything is almost set, except I haven't sold my Jeep, so I'm going to still have to make payments until it's sold. There will be other things I need to send money back for as well, so what's the best way to get money home (exchange rates, cheapest fees, easiest, etc.) I know this has been discussed before, but the search engine is not the best.

By the way, does anyone know somebody that would want to buy a Jeep Wrangler in South Florida?

Oh another thing...I'll be in Bupyeong, so if anyone wants to hang out, let me know.

hugs and kisses

doug-life

[dogshed]

You may need more than one way to send money home. Always have a backup plan.

Make sure you have an account with a low receive fee for a SWIFT transfer before you leave. Also, some banks use an intermediary bank that also charges a fee.

Some people say to use travelers checks. I forgot to ask about that.

If you are near a KEB they can do a 송금수표 which my dictionary says is a remitance check but at KEB I was calling it a money order. They charged me 10000 won for a $700 check. 700 * 935.7 = 654,990 and with the fee 664,990. They used the remittance rate with no commission. I'll write a blog entry on my experience. He gave me a pamphlet but it is full of bad English and confusing.

-Jeff

[mt01ap]

I'd advise against traveler's cheques. My experience using them in Korea has not been pretty. I tried to depsoit a traveler's cheque into my Hana Bank account ($250 CDN) in my first month here, I was running low on spending money. I had to pay a fee, 15,000 won and they told me that I would get my money in one month. WTF!!!! I've used travelers cheques before but never had a problem like this. I needed my money instantly, not in one month! It wasn't until later I was told that this was custom at some Korean banks.
As well, for trasferring money, I haven't done that yet, but people have been telling me to use HSBC, since it's a worldwide bank. Most likely, there's an HSBC bank in your country and transferring money is done easily with a minimal fee. Again, I haven't used HSBC but a lot of people have had good things to say about it for transferring money.

[dogshed]

[B-Teacher]

Personally, I use the Shinhan bank and I've never had any problems with the transfers. I've transferred W1 mil a couple times and have gotten charged W18,000 each time. The money was in my account within 24 or 48h, I believe.

[Matt_22]

just sell the jeep on ebay. i sold my little bro's cj-7 a couple months ago and it was a breeze. i got some GREAT offers for it as well.

[dogshed]

[Novernae]