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ryleeys
Joined: 22 Dec 2003
Location: Columbia, MD
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 Posted: Sun Sep 26, 2004 12:34 am Post subject: |
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Exchange "park" for "ALL OF FRICKIN' ICHEON CITY" and you have the garbage situation down here.
Anyway, I avoid having multiple accounts at all costs. My local bank back home only has 3 branches. So I went to college and just drove the extra hour to get to the nearest bank branch when I needed to rather than pay the hostage fees the bank that had the exclusive rights with the university charged.
I considered closing my American bank when I came to Korea, but decided to keep it since I get ridiculously good returns on my money there. |
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kangnamdragon
Joined: 17 Jan 2003
Location: Kangnam, Seoul, Korea
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| Posted: Sun Sep 26, 2004 1:54 am Post subject: |
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| jurassic5 wrote: |
nothing like having a bank not allowing a person to withdraw their OWN money. isn't woori one of the biggest banks here in korea too?
i asked the LG 25 lady about why i can't access money etc (the woori ATM is inside LG 25) and she gave the reason and asked if i had a different bank account that i could withdraw from (i don't). she was suprised to find out that i didn't. do a lot of people here in korea have more than one bank?? |
I have 4 accounts in 2 different banks, but most of my money is in Woori.
I used my Woori Visa to get a cash advance, so at least that works. |
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Cedar
Joined: 11 Mar 2003
Location: In front of my computer, again.
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| Posted: Sun Sep 26, 2004 2:31 am Post subject: |
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| I have three bank acct.s in Korea. I have the emergency acct, the one I had from my last job and the one I have to have to get my college ID. Thank the lord only one of them is Woori, cause even though I heard it wasn't going to work, I didn't believe the person who told me could possibly be serious! |
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jurassic5
Joined: 02 Apr 2003
Location: PA
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| Posted: Sun Sep 26, 2004 3:43 am Post subject: |
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| kangnamdragon wrote: |
I used my Woori Visa to get a cash advance, so at least that works. |
so they're allowing people to make cash advances, but not allowing people to withdraw their own money. 
i wonder if a lot of people here in korea are upset or just don't care because they have other banks (or maybe they read the message on the site etc). |
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kangnamdragon
Joined: 17 Jan 2003
Location: Kangnam, Seoul, Korea
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| Posted: Sun Sep 26, 2004 5:48 am Post subject: |
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| If I had read the messages I had received on my phone, I would have moved all of my money from Woori to another bank. This would have been terrible for Woori if everyone had done this. |
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mindmetoo
Joined: 02 Feb 2004
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| Posted: Sun Sep 26, 2004 6:14 am Post subject: |
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| kangnamdragon wrote: |
| If I had read the messages I had received on my phone, I would have moved all of my money from Woori to another bank. This would have been terrible for Woori if everyone had done this. |
What kind of advanced warning did you get? Seems odd the short notice. If they were changing out software like they seem to be claiming, they would have had months, if not a year or more, to plan this kind of stuff and inform customers. Something is very, very fishy. Oish. |
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kangnamdragon
Joined: 17 Jan 2003
Location: Kangnam, Seoul, Korea
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| Posted: Sun Sep 26, 2004 6:18 am Post subject: |
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| mindmetoo wrote: |
| kangnamdragon wrote: |
| If I had read the messages I had received on my phone, I would have moved all of my money from Woori to another bank. This would have been terrible for Woori if everyone had done this. |
What kind of advanced warning did you get? Seems odd the short notice. If they were changing out software like they seem to be claiming, they would have had months, if not a year or more, to plan this kind of stuff and inform customers. Something is very, very fishy. Oish. |
I got some message on my phone from the bank but I thought it was just spam so I did not read it carefully. I think it was about 3 days ago. However, it was in Korean and I had never seen any notice in English. There is nothing on the website in English as the site seems to be down. Imagine all the foreigners who do not read Dave's and have no idea what is happening. |
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JongnoGuru
Joined: 25 May 2004
Location: peeing on your doorstep
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| Posted: Sun Sep 26, 2004 7:14 am Post subject: |
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| kangnamdragon wrote: |
| mindmetoo wrote: |
| kangnamdragon wrote: |
| If I had read the messages I had received on my phone, I would have moved all of my money from Woori to another bank. This would have been terrible for Woori if everyone had done this. |
What kind of advanced warning did you get? Seems odd the short notice. If they were changing out software like they seem to be claiming, they would have had months, if not a year or more, to plan this kind of stuff and inform customers. Something is very, very fishy. Oish. |
I got some message on my phone from the bank but I thought it was just spam so I did not read it carefully. I think it was about 3 days ago. However, it was in Korean and I had never seen any notice in English. There is nothing on the website in English as the site seems to be down. Imagine all the foreigners who do not read Dave's and have no idea what is happening. |
I got the SMS on the mobile around the middle of last week, but I was getting "Happy Chusok" spam from clients, suppliers, companies, friends, you name it -- so I very nearly deleted it without reading it.
Woori sent out (hangul) text messaages to cellphones, called fixed-line phones, and put up signs at their branches. Inevitably, not everyone found out in time. It's hard to understand their timing for this, which I think obviously was NOT planned a year or even months in advance -- If it was, why did they wait until just a few days to give us the heads-up? And what about people who are overseas and will be flying in during the shut-down? They could really be up a creek & s.o.l. because of this.
Not only are we a big customer of Woori Bank, but Woori Financial Group is a big client of ours. I'll be looking for the inside scoop from the boys that know once the holidays are over, don't you 'woori' about that! 
The Guru |
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little mixed girl
Joined: 11 Jun 2003
Location: shin hyesung's bed~
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| Posted: Sun Sep 26, 2004 1:13 pm Post subject: |
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| kangnamdragon wrote: |
| Can you use a Wooribank card at another bank's ATM? |
i think you can.
i remember using mine last summer at a non-woori atm.
of course that atm was also at seoul tower...  |
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kangnamdragon
Joined: 17 Jan 2003
Location: Kangnam, Seoul, Korea
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| Posted: Sun Sep 26, 2004 9:43 pm Post subject: |
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| little mixed girl wrote: |
| kangnamdragon wrote: |
| Can you use a Wooribank card at another bank's ATM? |
i think you can.
i remember using mine last summer at a non-woori atm.
of course that atm was also at seoul tower... |
No, you cannot this week. No money may be taken out of a Woori account. |
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Sooke
Joined: 12 Jan 2004
Location: korea
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| Posted: Sun Sep 26, 2004 9:53 pm Post subject: |
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What if the bank has gone down the crapper and the C.E.O.s et al. are hightailing it out of Korea? I was forced to use Woori Bank at my school and have almost 6 grand US in there. Man, we'd be screwed.
I mean, didn't the Daewoo guy do the same thing a couple of years back?
I mean, 6 days is a good head start.
Just a happy thought for the holiday while we all sit on our asses at home with no money.  |
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Real Reality
Joined: 10 Jan 2003
Location: Seoul
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| Posted: Sun Sep 26, 2004 10:07 pm Post subject: |
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JongnoGuru wrote,
"Yeah, Koreans will typically have several personal bank accounts....Korean husbands (and probably wives, too) will often set up secret accounts at Bank E that their spouses don't know about. "
Korean wives usually have more money in secret bank accounts.
Wives Found Far Richer than their Spouses
A survey indicated married Korean women manage an average of W14.4 million (about US$12,000) of "secret funds" without the knowledge of their spouses, who in turn had only W3.4 million (about US$3,000) kept aside--or a mere quarter of how much their wives have tucked aside.
The Chosun Ilbo
http://www.chosun.com/w21data/html/news/200102/200102150006.html |
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mindmetoo
Joined: 02 Feb 2004
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| Posted: Sun Sep 26, 2004 11:05 pm Post subject: |
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If it is a sign of a looming bank failure, bank accounts here are insured like they are in North America. It's called the KDIC. They'll cover you up to 50 million won.
It occured to me today that maybe this isn't so much a fear of a run on cash stocks over the holiday. They might have been planning for these upgrades for a long time but figured it was better not to let anyone know until the last minute. If they let people know a couple months in advance, people might decide "well, I'd really like to have access to my funds over the holiday so I'll just close out my Woori account and switch to KB."
And then they'd be in huge amounts of trouble.
I did manage to get my Wells Fargo ATM card to work and snagged a couple hun from my US bank to tide me over. There is no sound more pleasing than the sound of an ATM spinning out bills into a cash hopper!
What a frustrating Sunday. I had a date set up with a cute genetic engineer and 20K won in my pocket plus a handful of change. "So umm... hungry? How are you for some samgakkimbap?"
My game was so off. |
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matthews_world
Joined: 15 Feb 2003
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| Posted: Mon Sep 27, 2004 1:23 am Post subject: |
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Be careful fellow waygooks. Could be the start of something interesting.
How bout a "bank alert" thread when the going gets tough.
Schools may want you to use a certain account, but feel free to transfer money to a second account. This can be done through the bank's internet service. A small fee may apply.
I currently have 3 bank accounts in Korea, with a decent amount of fundage in each, plus my home bank and home bank credit line which I use in emergencies. Also, if you have a credit line, make sure you get an international card that let's you withdraw from foreign ATM's.
I'll be sure to wire home money quickly in case of any financial crisis.
Last edited by matthews_world on Mon Sep 27, 2004 4:29 am; edited 2 times in total |
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manlyboy
Joined: 01 Aug 2004
Location: Darwin, Northern Territory, Australia
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| Posted: Mon Sep 27, 2004 4:05 am Post subject: |
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Sooke wrote:
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| I was forced to use Woori Bank at my school |
I was forced to change to a particular bank at one hagwon I worked at. Is that common? I was actually forced under threat of dismissal. |
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