Korean Job Discussion Forums

[highlander_76]

A relative in the States is going to lend me some money to put down as an apartment deposit. So two related questions really:

1) What the best way to send $10,000+?

2) Where I can get the best exchange rate once it's here?


Thanks in advance.

[kat2]

It can be wired into your korean bank account. However, it will take some extra paperwork and several more days than normal to go through.

If you need it quickly, and it's not a huge sum, then I would have the person send it in $9,000 increments a couple of days apart. Anything over $10,000 at ONE time requires extra paper work and gets flagged. But multiple transfers equaling over 10 grand doesn't. If you have it sent to your bank, there's no reason to exchange it as that will happen in teh process.

[highlander_76]

How about the exchange rate, though? I'm concerned I would get a crappy exchange rate through the bank and more unnecessary fees than necessary.

By the way, if you have a local idea, I am in the Seoul area, forgot to mention that.

[PeteJB]

Um. So if I want exactly $10,000 wired into a Korean bank account (I'm a student) would there be a problem? I was under the impression wiring money IN wasn't a hassle.