Korean Job Discussion Forums

caro · Joined: 24 Jan 2008

I'm sorry if there are a million posts on this question, but the search engine isn't working for me. When I'm in Korea I will need to be making a car and credit card payments every month. What is the easiest way to do this? Get a Korean bank account and do it online somehow? Thanks!

littlemisssmiles · Joined: 27 Dec 2007

I plan on sending money to my Canadian bank account, and then I can access this account online and pay my bills that way. I'm not sure if there is an easier way to do it...

caro · Joined: 24 Jan 2008

How are you going to send it to your Canadian bank account? Is there a cheap or free way to do that? I've heard of limits and high fees associated with this.

SuperFly · Joined: 09 Jul 2003 Location: In the doghouse

http://www.paytrust.com/

moosehead · Joined: 05 May 2007

OiGirl · Joined: 23 Jan 2003 Location: Hoke-y-gun

When I had bills in the US, I did this two ways. Both involve first sending money to my US checking account.

1) Brink a checkbook to Korea and mail and write personal checks from Korea.

2) Many credit card and auto finance companies will allow you to make payments through "electronic check," i.e. you call them and give them the information from your check. They don't need the physical check.

3) You can probably also set them up as automatic payments, either through the companies you are paying or your own bank.

Most big banks and finance companies can be called collect from Korea to accomplish the above.

Good luck!

hogwonguy1979 · Joined: 22 Dec 2003 Location: the racoon den

I've been paying my ccs online for years, not a single problem, plus i get my bills emailed to me which cuts my interest rate

student loans are paid automaticlly out of my us bank account as are other bills. most creditors prefer it that way as it saves them money

i dont think i've written a check in about 6 years

yeah it means wiring money back to the states and going through the woori bank inquistion every month but it makes life simple

caro · Joined: 24 Jan 2008

I leave for Korea in April. I just got back from teaching in Mexico for 6 months and had similar problems.

caro · Joined: 24 Jan 2008

Can't I get a Korean bank account and pay my bills online through that or do I have to transfer money to my American bank account?

Zaria32 · Joined: 04 Dec 2007

I'm not certain, but I think trying to pay bills in the US or Canada via a Korean bank account is fraught with potential problems, and probably a lot of fees.

I have an account with B of A in the US. I mail traveler's checks to that account, my only bill is paid by automatic debit out of that account. Works great.

anabolina · Joined: 27 Jan 2008 Location: Bundang

Hey Zaria, how do you mail travelers checks to your BoA account?

caro · Joined: 24 Jan 2008

Traveler's checks, eh? I have a B of A account. Maybe that would work.

hogwonguy1979 · Joined: 22 Dec 2003 Location: the racoon den

little mixed girl · Joined: 11 Jun 2003 Location: shin hyesung's bed~

you can ask your bank how much it is to do a wire transfer every month...

i transfer money from my japanese account to my american account via a bank called llyods. they might have a similar service in korea, i don't know.

but, i think that a wire transfer would be the easiest.

garykasparov · Joined: 27 May 2007

It is easy to pay your bills online. You need to have a US bank account and when you wire money each month, then you can have the bills taken directly from yur bank account. Pay ahead on your bills so you have some breathing room. Try to stay a month or two ahead. You'll sleep better at night.