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ryleeys
Joined: 22 Dec 2003
Location: Columbia, MD
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 Posted: Fri Apr 02, 2004 8:51 pm Post subject: |
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| I'm going to be walking on to a plane when I leave Korea with either 12,000,000 won on me or $10,000US... haven't decided yet. But no money is being transferred at the moment. I'll take my hit all at once. |
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articulate_ink
Joined: 23 Mar 2004
Location: Left Korea in 2008. Hong Kong now.
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| Posted: Sun Apr 04, 2004 11:07 am Post subject: |
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| ryleeys wrote: |
| I'm going to be walking on to a plane when I leave Korea with either 12,000,000 won on me or $10,000US... haven't decided yet. But no money is being transferred at the moment. I'll take my hit all at once. |
Are you coming back to the States, or some other country? If the US is your destination, Bad Idea. If you're carrying USD 10,000 or its equivalent, you're supposed to declare it. I think you may have to pay a duty on it. Now, I'm not a big fan of playing by every rule anyone ever thought up, but considering the terrorism frenzy this country has whipped itself into, you might find yourself in a very awkward situation if the funds are discovered on your person or in your baggage. (Don't forget, Homeland Security gnomes here cut locks off bags and rummage through them.) Don't take any chances. Find some other way to transport the money.
Has anyone used PayPal for money transfers? I've been thinking about that as an option once I've moved. I'll set up a new account at a different US bank (USAA, which not everyone has access to), then see if I can connect PayPal to both my Korean (or Japanese, if that's where I end up) and US accounts. I know PayPal has a currency conversion feature... Thoughts? |
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Kristsoy
Joined: 23 Mar 2004
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| Posted: Sun Apr 04, 2004 5:51 pm Post subject: not true |
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| the max he can take in is 10,000 american, not too bright to take that kind of money anywhere. what if someone finds it on the plane and steals it from u? i would never risk that, much safer to wire it to ur us account |
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Real Reality
Joined: 10 Jan 2003
Location: Seoul
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| Posted: Sun Apr 04, 2004 6:16 pm Post subject: |
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Wire transfer is easy and convenient. Kristsoy may be right about using the wire transfer.
Just hope there is no glitch when you make the transfer.
Technical glitches with the Bank of Korea's computer network caused unprecedented paralysis for the nation's financial payment system on Friday. For nearly five hours beginning at 3:30 p.m., the so-called BOK-Wire, an online network that transfers large payments between financial institutions, malfunctioned, wreaking havoc for 131 connected institutions. "We plan to change our terminal operating system from DOS to Windows. Timed with the change, we will try to ensure the overall network functions in a stable manner," said the BOK's Kim.
from the Korea Herald
http://www.koreaherald.co.kr/SITE/data/html_dir/2004/04/05/200404050029.asp |
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knelly
Joined: 12 Jan 2003
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| Posted: Wed Apr 07, 2004 4:25 am Post subject: |
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| I've always used Trav. cheques...the better rate and the lack of paperwork and fees makes it quite easy. I just bung them in the mail and have them deposited each month. So far so good...about three years worth of monthy deposits and not a single problem. |
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Homer
Guest
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| Posted: Wed Apr 07, 2004 5:13 am Post subject: |
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Cool knelly.
As for me. I have been wiring money for about 7 years on a monthly basis.
Not one glitch yet and its basically free (only costs me about 11 000 won per transfer).
It also takes less then 5 minutes now when I go to the bank which is conveniently 5 minutes walking from my house. |
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