Korean Job Discussion Forums

[bondjimbond]

Can it be done? I think I read some poster or another mentioning that's how he does it, but I'm not sure. Is it possible to have the Internet wossname all set up to get your money out of the country without the hassle and harassment of going into the bank proper?

[rsmm0224]

When I asked I was told, yes the bank has a website, no its not in English and no you can't do international transfers on it.

That was 8 months ago when I opened the account with Kyongnam Bank. I too would be interested if there is another bank that will or if KNB has updated its policies.

[spliff]

KEB international remittance acct and online banking...they have English. Go, open it, send.

[pangaea]

I send money home every month with Shinhan bank and it's not that much of a hassle. For the first time you will need your bank name, address, routing number and account number. I think it costs me about $20 or lessin fees and the money is in my home account in about 2 days. They told me to keep my old paperwork so when I come in to do a new transfer the process goes more quickly. I don't know about doing everything electronically. I've heard of people having problems transferring over $1000 at a time (being hassled at the bank, having their passports stamped) but that didn't happen to me when I tried it. Maybe it's because I'm there so often. It might be useful to go ahead and establish a connection with your bank so things are easier if you ever run into any problems.

[bondjimbond]

[Binch Lover]

You can do international transfers from an ATM with Hana bank. All you need to do is register with them (ie go in yourself) and designate a recipient account. Then you can send money directly from an ATM.

If you live in Seoul, I would recommend going to one of their Global Centres. There is one near exit 2 of Gangnam Stn and one near Coex. I'm sure there are more but I don't know where. They also offered me an international card there.

[bacasper]

[spliff]

Just like in person fees are dependent on how much you send. However, you get a break on the fees by using this acct. Not much, 2 or 3,000 but it helps. So, in general, the fees are lower than in person. Just remember, this remittance acct is separate from your regular acct and any money you transfer into it will go out overseas. Don't use it to park the money you need for here in.
When I send money overseas I just go on on-line banking and transfer whatever amount to the remittance acct...they will subtract the wire cost from that amount and send the remaining automatically to the overseas acct you specified when opening the acct....done....easy as pie.

[mikeyboy122]

Take cash to post office. io,ooo won fee

[Temporary]

Well nonghyup now has the remitance option for online banking as well. They seem to have the lowest fees for remitance as well. I am gone set it up this week and see how it goes. Will post if I am succesfull.

[inthewild]

[OiGirl]

It is a hassle to go to the bank or the ATM.

If you can set up online banking (I've not yet tried it,) you could use that to transfer money from a "main" account to an overseas remittance account. I have one of those which I have not yet used.