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cdninkorea
Joined: 27 Jan 2006
Location: Seoul
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 Posted: Fri Jan 04, 2008 3:00 pm Post subject: Jan. 11th Update: Korean Banks *Sparkling* |
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I went to Shinhan in Itaewon yesterday afternoon to open a new account. The security guard who helped me fill out the forms and translate to the teller (my banking vocabulary in Korean is nil) was very pleasant and the account was open in a few short minutes. Then the axe falls.
They wouldn't give me a bank card. I don't mean an Int'l ATM card- they won't give me any card of any kind until I've had the account for three months. This is in spite of the fact I have a legal work visa and have had an account with Shinhan in the past (last year; I had it closed).
No one at the bank could tell me why- the guard didn't know and neither did two tellers he asked. I remember reading (here and in the Korean press) about a group of Chinese people running some kind of bank scam last summer, and the Korean gov't solution was to restrict cards to all foreigners.
I don't remember the details though. Does anyone else? It certainly seems ignorant and racist, but I don't want to commit myself to that opinion without all the facts.
Last edited by cdninkorea on Thu Jan 10, 2008 11:18 pm; edited 1 time in total |
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Letiz7
Joined: 29 Jan 2007
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| Posted: Fri Jan 04, 2008 3:16 pm Post subject: Re: Korean Banks *Sparkling* |
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| cdninkorea wrote: |
| It certainly seems ignorant and racist |
It does, doesn't it? Welcome to Korea, enjoy your stay. |
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spliff
Joined: 19 Jan 2004
Location: Khon Kaen, Thailand
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| Posted: Fri Jan 04, 2008 3:18 pm Post subject: |
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Are you back here?  |
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komerican
Joined: 17 Dec 2006
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| Posted: Fri Jan 04, 2008 3:29 pm Post subject: |
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citibank in korea has advertising that says that it's difficult for koreans to open accounts in the US so it's better for koreans to open accounts here and use them in the US. It seems that accounts are difficult to open in the US for foreigners also.
I've also pointed out that foreigners are not allowed to open certified depost (CD) accounts and checking accounts at US Citibanks, and probably most other banks as well. |
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Passions
Joined: 31 May 2006
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| Posted: Fri Jan 04, 2008 3:30 pm Post subject: |
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| Korea Fighting! |
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mindmetoo
Joined: 02 Feb 2004
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| Posted: Fri Jan 04, 2008 3:35 pm Post subject: |
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| Yeah. You have to wait 1/4 of your one year contract until you can get easy access to your money. This is beyond a joke. |
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CentralCali
Joined: 17 May 2007
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| Posted: Fri Jan 04, 2008 3:52 pm Post subject: |
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| komerican wrote: |
citibank in korea has advertising that says that it's difficult for koreans to open accounts in the US so it's better for koreans to open accounts here and use them in the US. It seems that accounts are difficult to open in the US for foreigners also.
I've also pointed out that foreigners are not allowed to open certified depost (CD) accounts and checking accounts at US Citibanks, and probably most other banks as well. |
You'll shock us all one day when you manage to prove you have any inkling at all of what you're talking about. Visiting foreigners, aka tourists, "have difficulties" opening financial accounts in the US. Those foreigners resident there on either business visas or immigrant visas have no problems whatsoever. |
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lastat06513
Joined: 18 Mar 2003
Location: Sensus amo Caesar , etiamnunc victus amo uni plebian
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| Posted: Fri Jan 04, 2008 3:56 pm Post subject: |
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I know it might be too late for this to be relevant for the OP or anyone already in Korea....but I found that KEB has branches in the US, Canada and the UK.
The US branches are in New York City and Los Angeles.......
I was wondering, given that Korean banks are giving people a hard time to open accounts, would it be better for someone who is overseas and who is looking to go to Korea to open an account in their homecountries and obtain a bankcard there rather than go through the hassle of trying to open an account in Korea?
Given the circumstances, it seems logical..... |
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komerican
Joined: 17 Dec 2006
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| Posted: Fri Jan 04, 2008 3:57 pm Post subject: |
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| CentralCali wrote: |
| komerican wrote: |
citibank in korea has advertising that says that it's difficult for koreans to open accounts in the US so it's better for koreans to open accounts here and use them in the US. It seems that accounts are difficult to open in the US for foreigners also.
I've also pointed out that foreigners are not allowed to open certified depost (CD) accounts and checking accounts at US Citibanks, and probably most other banks as well. |
You'll shock us all one day when you manage to prove you have any inkling at all of what you're talking about. Visiting foreigners, aka tourists, "have difficulties" opening financial accounts in the US. Those foreigners resident there on either business visas or immigrant visas have no problems whatsoever. |
right, you must have a green card, and we all know how easy those are to get. If you don't have a green card you can't even open a checking account or get a money market account. |
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Ilsanman
Joined: 15 Aug 2003
Location: Bucheon, Korea
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| Posted: Fri Jan 04, 2008 4:30 pm Post subject: |
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I opened 2 accounts recently and got a card, and was even offered online banking.
The OP has a work visa, so this is ridiculous. |
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American_Maverick
Joined: 20 Dec 2007
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| Posted: Fri Jan 04, 2008 4:54 pm Post subject: |
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| lastat06513 wrote: |
I know it might be too late for this to be relevant for the OP or anyone already in Korea....but I found that KEB has branches in the US, Canada and the UK.
The US branches are in New York City and Los Angeles.......
I was wondering, given that Korean banks are giving people a hard time to open accounts, would it be better for someone who is overseas and who is looking to go to Korea to open an account in their homecountries and obtain a bankcard there rather than go through the hassle of trying to open an account in Korea?
Given the circumstances, it seems logical..... |
Interesting. Does anyone else have details on this? Would I receive an ATM card at the US branch that could be used anywhere in the world, including Korea?
Last edited by American_Maverick on Fri Jan 04, 2008 6:05 pm; edited 1 time in total |
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Atavistic
Joined: 22 May 2006
Location: How totally stupid that Korean doesn't show in this area.
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| Posted: Fri Jan 04, 2008 5:02 pm Post subject: |
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| komerican wrote: |
| CentralCali wrote: |
| komerican wrote: |
citibank in korea has advertising that says that it's difficult for koreans to open accounts in the US so it's better for koreans to open accounts here and use them in the US. It seems that accounts are difficult to open in the US for foreigners also.
I've also pointed out that foreigners are not allowed to open certified depost (CD) accounts and checking accounts at US Citibanks, and probably most other banks as well. |
You'll shock us all one day when you manage to prove you have any inkling at all of what you're talking about. Visiting foreigners, aka tourists, "have difficulties" opening financial accounts in the US. Those foreigners resident there on either business visas or immigrant visas have no problems whatsoever. |
right, you must have a green card, and we all know how easy those are to get. If you don't have a green card you can't even open a checking account or get a money market account. |
Fascinating considering some banks will let illegal aliens open accounts.
And I call BS. You can, indeed, open a bank account in the US when you have LEGAL LIVING AND WORKING VISAS. And you can get crap! Cards, ATM cards, checking accounts, etc! |
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ernie
Joined: 05 Aug 2006
Location: asdfghjk
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| Posted: Fri Jan 04, 2008 5:19 pm Post subject: |
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i don't understand the bank's logic here... i mean the premise of a bank account is fairly simple: you give them all your money, they hold it, and you take it out when you need it...
how does being a foreigner make any difference in this situation? i mean, i can't take out any more money than i put in, so how did these "chinese people" manage to scam them? it just seems like bad business practice... try to explain this to them (they won't understand you even if you speak perfect korean) and take your business elsewhere! |
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komerican
Joined: 17 Dec 2006
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| Posted: Fri Jan 04, 2008 5:22 pm Post subject: |
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| Atavistic wrote: |
| komerican wrote: |
| CentralCali wrote: |
| komerican wrote: |
citibank in korea has advertising that says that it's difficult for koreans to open accounts in the US so it's better for koreans to open accounts here and use them in the US. It seems that accounts are difficult to open in the US for foreigners also.
I've also pointed out that foreigners are not allowed to open certified depost (CD) accounts and checking accounts at US Citibanks, and probably most other banks as well. |
You'll shock us all one day when you manage to prove you have any inkling at all of what you're talking about. Visiting foreigners, aka tourists, "have difficulties" opening financial accounts in the US. Those foreigners resident there on either business visas or immigrant visas have no problems whatsoever. |
right, you must have a green card, and we all know how easy those are to get. If you don't have a green card you can't even open a checking account or get a money market account. |
Fascinating considering some banks will let illegal aliens open accounts.
And I call BS. You can, indeed, open a bank account in the US when you have LEGAL LIVING AND WORKING VISAS. And you can get crap! Cards, ATM cards, checking accounts, etc! |
this is just for a saving account. to get checking you also need to be a green card holder in the US and the requirements are greater. Again, the main point of my original post on this thread was to point out that citibank IN KOREA announced on their advertising that it's difficult for koreans to open an account in the US.
https://web.da-us.citibank.com/cgi-bin/citifi/scripts/prod_and_service/prod_serv_detail.jsp?BS_Id=CitiUSA&BV_UseBVCookie=yes
Applicant must be a citizen or resident alien of the United States (U.S.) who is at least 18 years old with a valid U.S. taxpayer identification number. All accounts are subject to approval. Deposits are subject to Citibank's standard funds availability schedule. |
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jeffkim1972
Joined: 10 Jan 2007
Location: Mokpo
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| Posted: Fri Jan 04, 2008 5:38 pm Post subject: |
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| lastat06513 wrote: |
I know it might be too late for this to be relevant for the OP or anyone already in Korea....but I found that KEB has branches in the US, Canada and the UK.
The US branches are in New York City and Los Angeles.......
I was wondering, given that Korean banks are giving people a hard time to open accounts, would it be better for someone who is overseas and who is looking to go to Korea to open an account in their homecountries and obtain a bankcard there rather than go through the hassle of trying to open an account in Korea?
Given the circumstances, it seems logical..... |
Doesn't matter, an account opened up in one country can't be treated as a branch off if the bank is in another country.
Citibank Korea and Citibank US are considered two separate entities. There's absolutely no relationship for the banker. |
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