Korean Job Discussion Forums

[wanderingsalsero]

I'm trying to determine if there's any US banks with branches here in Korea where I could possible establish an account that would make it easier for me to transfer money back to the states.

Citibank is here, right?

But is that the same CitiBank that's back in the states?

Another alternative, for me, might be if there would be some major Korean banks that perhaps had some sort of parallel relationship with a major US bank.....i.e. which would still make it possible for me to get money from Korea back to the US.

Anybody know anything about that?

I've got a Visa debit card at Nongyap and also a regular debit card with them. Their cards both work fine for purposes within Korea and the Visa works OK for most of my online purchases from stateside vendors. But it won't hook into PayPal.

I've been trying to establish an account with an English outfit called Moneybookers (www.moneybookers.com).

Near as I can tell, Moneybookers(MB) is a legitimate program and it does work. But their registration process is somewhat circuitous.

First I had to input my Nongyap Visa info, then MB supposedly made a small deposit (EUR 1.01-2.99). Next I was supposed to 'check my statement' and then enter that amount into the 'verification' section of my profile with MB.

I just had one of my Korean co-teachers call Nongyap and she was told that my account didn't show any recent deposits at all.

I sorta question that. Part of the problem is that nobody at my particular Nongyap branch speaks any English....so, even though they're always smiling, I get very little info from them. The other problem with Nongyap is that they don't give statements.......at least, I haven't seen any.

So that's another reason why I'm wondering if can find a bank that'll give me more and better service.

Thanks,
Art
010 9122 8095

[wanderingsalsero]

I just talked with a Canadian teacher friend of mine who said he also has an account at Nongyap. He works in a small town of about 5000 people somewhere a couple hours south of Seoul.

He said that the Nongyap people in his local village didn't know anything about how to do international transfers or anything like that but he talked to some Nongyap people at a larger branch in a larger city near where he works (I don't remember where it was) and they were able to get it set up for him.

He also said that he gets a statement from them every month too. Like I said, I don't think I get one.

What really mystifies me is why/how the people at my local Nongyap branch could say(over the phone) they didn't show any record of that small deposit which MoneyBookers supposedly has made to my account.

I still think part of the problem is a communication one (I can't speak Korean) and the other part is that some of the people in the smaller branches just aren't familiar with certain types of transactions.

Can we, as teachers, get accounts at Citibank in Seoul? Would that give me some options (because it's a US bank) that I don't have with Korean banks?

Art
010 9122 8095

[icicle]

I have banked with Nongyhup for the 9 months I have been here. I live outside of Seoul and I have to travel about 30 minutes to the branch where I can do my International Transfers ... at that Branch there is also at least one teller who speaks English ... actually at least 3 with some English ... That helped me to get things set up to suit me ... and find out what was possible... It is possible to get Internet banking ... In English ... To do it you need to go to the branch and get set up ... It includes an electronic certificate which for me they saved onto my USB drive ... and I then saved onto my computer ... That has been invaluable to me ... mainly for the thing which you are having problems .... keeping track of transactions ... It makes it easy for me to check that my pay has gone into my account ... and other things ... If you want to do this ... or find out what else can be done to help ... I would suggest travelling to the nearest branch which does the International Banking ... They should be able to set things up for you ... Just take things like Bankbook .. passport .. ARC with you ...

I have gone into the branch around once a month (by leaving school early with permission) and found them very helpful ... When I had the very bad misfortune a couple of weeks ago of losing a wallet (with cards inside) ... they were a great help in sorting it out ... Even when part of fixing the problem (in arranging the replacement card) was not something that their branch did ... One of the English speaking staff took me to another branch a block or so away (where no one spoke English) and explained what they needed to do ... And stayed until it was all finished and checked it worked ... That to me was great service ... and will stay with me ... So don't write the bank as a whole off ...

Icicle

[superdave]

citibank and hsbc are in korea ... i assumed those accounts would work in international branches.

that is an assumption.

this is korea.

[icicle]

[eliross]

I went to Citibank because I have student loans through them. They told me that;

They were a separate bank from the U.S. bank

I would still have to wire money (with all the connected fees) to pay for my loans.

and I could not get an international bank card.

The lady I talked to spoke fluent English but was generally not that nice so I continue to bank through Shinhan bank.

Great service but a wire transfer home cost me 40$ USD to send 130$ USD and my bank at home charged me an extra 10$ USD.

I just got a cashiers check which cost me 18,000 Won, for 200$ USD. It's from the Bank of New York (like most USD cashiers checks are.)

I hear other banks are much cheaper.

[dogshed]

I called Citibank and one of the other big banks in the US before coming
to Korea and they told me that they are separate banks.

When I have a problem with Nonghyup I give the teller the English line
phone number and then explain things to the woman on the phone
who then tells the teller what I need.

[wanderingsalsero]

Thanks for the info folks. that sorta narrows things down a bit. sounds like Citibank is not such a great idea. But I'm intrigued by the comment about getting cashiers cheques. Is that possible here like it is in the US?

I'm assuming I could get one at the Seoul major branches of Nongyap?

Are any of these major bank branches in Seoul open on Saturdays? Weekends are the only time I'm in Seoul (I live in Namyangju).

Since I'm going to have some time off for the Christmas holidays, i'm going to make a point to go to Seoul and talk to somebody in one of the large Nongyap branches and try to ascertain once-and-for-all what they can do and not do. My Canadian friend said he uses them to send money back home.

But I'm also going to visit KEB and maybe some of the others and see what kind of programs they can offer me.

thanks again.

Art

p.s. like to salsa dance?
Joing us: http://salsa.meetup.com/343/