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normalcyispasse
Joined: 27 Oct 2006
Location: Yeosu until the end of February WOOOOOOOO
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 Posted: Mon Jan 21, 2008 1:31 am Post subject: More banking woes -- farmers in suits |
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After having lived here and banked with the same Nonghyup branch for over two years, I was finally shut down today.
Today I went to the bank to change some coins and get some US$ since I'll be leaving for my vacation in Nepal tomorrow. While there I was informed that yadda yadda yadda Korean law yadda yadda no foreigners can have access to THEIR OWN MONEY while traveling. Of course we cannot be trusted -- we aren't Korean! We don't have 정!
Long story short, I opened a bank account in a Korean coworker's name so I could transfer money to it and get to my own hard-earned funds. Because, of course, it's LESS illegal for me to have and use a bank account and documents in SOMEBODY ELSE'S NAME than it is for me to be able to access MY OWN FVCKING MONEY.
I need to get the fvck out of here. March, where the hell are you?! |
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cdninkorea
Joined: 27 Jan 2006
Location: Seoul
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| Posted: Mon Jan 21, 2008 2:52 am Post subject: |
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I don't understand- you mean they wouldn't give you cash, or an Int'l ATM card? Either way it's ridiculous, but if it's the latter then I'm not surprised.
If it's the former, then I am surprised, in which case I'm not completely jaded yet. Getting there though... |
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ajgeddes
Joined: 28 Apr 2004
Location: Yongsan
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| Posted: Mon Jan 21, 2008 2:59 am Post subject: |
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| It sounds like he had an Int'l bank card but it was revoked today. Is that right? |
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mindmetoo
Joined: 02 Feb 2004
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| Posted: Mon Jan 21, 2008 3:06 am Post subject: Re: More banking woes -- farmers in suits |
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| normalcyispasse wrote: |
After having lived here and banked with the same Nonghyup branch for over two years, I was finally shut down today.
Today I went to the bank to change some coins and get some US$ since I'll be leaving for my vacation in Nepal tomorrow. While there I was informed that yadda yadda yadda Korean law yadda yadda no foreigners can have access to THEIR OWN MONEY while traveling. Of course we cannot be trusted -- we aren't Korean! We don't have 정!
Long story short, I opened a bank account in a Korean coworker's name so I could transfer money to it and get to my own hard-earned funds. Because, of course, it's LESS illegal for me to have and use a bank account and documents in SOMEBODY ELSE'S NAME than it is for me to be able to access MY OWN FVCKING MONEY.
I need to get the fvck out of here. March, where the hell are you?! |
It's insane. I realize okay there's maybe a money laundering problem. Chinese or whatever. But can they get a forking clue and base it on work visa? Are E2s, E7s etc. money launderers?
Yeah, I'm jetting in March and feeling "none too soon". Where you heading normalcyispasse? |
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normalcyispasse
Joined: 27 Oct 2006
Location: Yeosu until the end of February WOOOOOOOO
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| Posted: Mon Jan 21, 2008 3:14 am Post subject: |
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| ajgeddes wrote: |
| It sounds like he had an Int'l bank card but it was revoked today. Is that right? |
Yep! I've had this card for years but today they said that nope, I'm no good.
| mindmetoo wrote: |
It's insane. I realize okay there's maybe a money laundering problem. Chinese or whatever. But can they get a forking clue and base it on work visa? Are E2s, E7s etc. money launderers?
Yeah, I'm jetting in March and feeling "none too soon". Where you heading normalcyispasse? |
Here's the silly thing: Okay, so they've had problems with people overdrawing accounts while overseas, billing utilities and phones and such. Here's the answer: CUT OFF THE ACCOUNT AT THE ACTUAL DEPOSITED AMOUNT. I'm not looking for credit and I don't want a line of credit past my bank account amount available to me, anyway. I just want access to my own damn money that I earned legally and with documentation.
Come March my wife and I are headed back to the US. If I were single I might stay longer in Asia (though perhaps not in Korea), but together it'll be good to give America a shot. I'm studying for the American College of Sports Medicine exam so I will be officially qualified as a personal trainer; there's decent money in training (generally 20-40/hr), and it'll be a good stopgap while I work out which career (I've had several) I want to pursue again, or if I want to choose another avenue. |
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articulate_ink
Joined: 23 Mar 2004
Location: Left Korea in 2008. Hong Kong now.
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| Posted: Mon Jan 21, 2008 6:38 am Post subject: |
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That's a travesty (yet depressingly typical of life here if you're an expat). I'm sorry that happened to you. One thing, though: are you sure you feel safe putting your funds under a coworker's name? It's better than not having access to them at all, but it's still a risk. Is there a branch of Standard Chartered in Yeosu? My card has worked in three countries outside of so far. At least one bank isn't playing screw-the-foreigner.
Last week I opened an account in Singapore. It wasn't as easy as I'd read on here but I still managed to do it. I was issued an ATM card on the spot, and the Visa debit card is being mailed to me. The banker helpfully gave me an information sheet containing the necessary information for wire transfers and walked me through the process of setting up Internet banking. After that (and several other details you would probably have read in my blog already) it was hard to come back to the Armpit of Asia. I had to stay indoors for a couple of days because I couldn't deal with Korean public behavior, frozen spit globs polkadotting the pavements, and so on. (And I'm going off-point.)
Come on, March. That means my final semester will be starting. It'll go by fast, and I'm out of here in June, and good fisting riddance. |
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whatever
Joined: 11 Jun 2006
Location: Korea: More fun than jail.
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| Posted: Mon Jan 21, 2008 6:42 am Post subject: |
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| Cue Real Reality... |
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Temporary
Joined: 13 Jan 2008
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| Posted: Mon Jan 21, 2008 6:48 am Post subject: |
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I had to recently prove that I make the money legaly. They also don't like that I transfer most of my salary to Canada everymonth. So they wanted to know WHY. They got me on the phone speaking with a CSR, she asked me what and why I was sending money:
CSR: "Every month you send money home why?"
ME: "Why not?"
CSR: "What are you doing with the money?"
ME: "What do you do with your paycheck"
CSR: "Why are you asking me?"
ME: " Well isn't it fair? You asked me so I am asking you"
CSR:"We can't send money if you don't tell us the reason why?"
ME: "I have been sending money home for the last two years with out a problem"
CSR: "It still a problem for us"
ME: "Ok. Reason why I am sending money home to Canada is because I have investment accounts in Canada, because Korea and Korean policy towards foreign investment is very hostile. Take the example of the Lonestar investment problems. I frankly don't want to end up in Jail because I made money on my investments here. 2nd of all Korean economy is not performing very well, growth rate is slowing and inflation rates are going up, President ROH has made bad descisions for the economy of South Korea. 3rd My alien number is useless and I am not eligible for a lot of investment accounts and frankly I just don't care about investing in Samsung, LG, SK, or any of the other oligopolies you have because I think they are over rated and artificially inflated.
Why I am sending my money home IS NONE OF YOUR BUSINESS."
CSR: "UHM"
ME: "Would you like more reasons?, Also do you take official complaints ? Becuase I request that you take this conversation as an official complaint to the RACIST and Xenophobic policy of this bank"
CSR: "Yes sir. *confused slightly taken by shock"
ME: "Are you going to give me more problems ?:
CSR: "No Sir"
ME: "Good then we are finished here please finish my transfer"
Although I think your very trusting with your coworker.. I think its insane I would have transfered all money back to Canada and used my Canadian card cause I know that one works just fine. |
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Real Reality
Joined: 10 Jan 2003
Location: Seoul
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uberscheisse
Joined: 02 Dec 2003
Location: japan is better than korea.
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| Posted: Mon Jan 21, 2008 10:48 am Post subject: |
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| Temporary wrote: |
CSR:"We can't send money if you don't tell us the reason why?" |
while the rant may have been fun to inflict on the unsuspecting bank employee, i really think you should have done this...
CSR:"We can't send money if you don't tell us the reason why?"
YOU: "Is transferring money illegal?"
CSR: "Uh, well, no, it is not..."
YOU: "Do your job then." |
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cdninkorea
Joined: 27 Jan 2006
Location: Seoul
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| Posted: Mon Jan 21, 2008 11:17 am Post subject: |
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That's a great story Temporary- bet that took the bank employee for quite a surprise, and I'll also bet they'll never ask again!
I'm very grateful that no one has asked me why I'm sending my money home. I hear about it from a lot of people though, so it must happen quite a bit. Completely inappropriate behavior on the bank's part. |
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Thunndarr
Joined: 30 Sep 2003
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| Posted: Mon Jan 21, 2008 2:12 pm Post subject: |
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I can't believe you are all getting upset by this. Koreans in the West face the exact same discriminatory banking policies.
Oh, and if you don't like it, then leave.
Yes, that was sarcasm. |
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normalcyispasse
Joined: 27 Oct 2006
Location: Yeosu until the end of February WOOOOOOOO
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| Posted: Mon Jan 21, 2008 2:22 pm Post subject: |
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| articulate_ink wrote: |
That's a travesty (yet depressingly typical of life here if you're an expat). I'm sorry that happened to you. One thing, though: are you sure you feel safe putting your funds under a coworker's name? It's better than not having access to them at all, but it's still a risk. Is there a branch of Standard Chartered in Yeosu? My card has worked in three countries outside of so far. At least one bank isn't playing screw-the-foreigner.
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Sadly, there's no SC bank in Yeosu. We have Nonghyup and KB and Kookmin, I think, but definitely no Standard Chartered.
| Temporary wrote: |
Although I think your very trusting with your coworker.. I think its insane I would have transfered all money back to Canada and used my Canadian card cause I know that one works just fine. |
I don't necessarily trust anyone else with my money. The only reason I did it was because nobody ever saw my PIN or had control of the bank book; I hold all the documents to this other account, even though it's in a coworker's name. Furthermore, the bank attendant, my wife, and my coworker were all there to witness exactly how much I transferred. If I don't use any of that, every red shipwon should be there when I return. |
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caniff
Joined: 03 Feb 2004
Location: All over the map
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| Posted: Mon Jan 21, 2008 3:09 pm Post subject: |
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| Thunndarr wrote: |
I can't believe you are all getting upset by this. Koreans in the West face the exact same discriminatory banking policies.
Oh, and if you don't like it, then leave.
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Cue Komerican. |
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komerican
Joined: 17 Dec 2006
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| Posted: Mon Jan 21, 2008 3:16 pm Post subject: |
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| caniff wrote: |
| Thunndarr wrote: |
I can't believe you are all getting upset by this. Koreans in the West face the exact same discriminatory banking policies.
Oh, and if you don't like it, then leave.
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Cue Komerican. |
thanks caniff, I'll take over from here. 
As I noted on another thread the citibank homepage in korea states that it's difficult for koreans to open bank accounts in the US. This is Citibank IN KOREA making this announcement on their homepage describing how difficult it is for koreans without a green card to get bank accounts in the US.
btw, a foreigner I know recently opened a bank account with cash card here in korea and he only had a tourist visa. |
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