Korean Job Discussion Forums

[crlb2006]

Im moving to Korea next week and bringing about $800 for my first month's expenses.

Should I bring the ammount in traveler's checks?
If I just load up my US bank account (Bank of America) will it be too much of a burden to access my funds in Korea?

Is it remotely possible to get an international ATM card while i'm still here in the US that will work in Seoul?

thanks in advance for the much-needed guidance.

bonus points to anyone who advises me on how paniced I should be over the won's consistently increasing worthlessness relative to the rest of the world's currency.

[Bibbitybop]

Bring your US bank ATM card. However, most Korean ATMs are not "global." You need to find a global ATM to get your money out of a US bank. Most of these ATMs, in Seoul anyway, are in the city center around Insadong and Gwanghwamun.

Or, bring a credit card from the USA, keep some cash in your US account and pay your credit card bill online with the US bank account.

[crlb2006]

cool... i'd prefer this method to traveler's checks in the first place.

[ciccone_youth]

yes, i agree, it's a better method.

traveller's cheques are a hassle. i brought a few of them, i exchanged them but it was extremely long and complicated, so i do not suggest it.

bring some cash too, if you can find korean currency before you arrive.

[ttompatz]

[Bibbitybop]

[crlb2006]

[jkelly80]

Traveler's cheques can be a hassle--but you may be able to get a better rate. I did the traveler's cheque thing and was stuck for a weekend with nowhere to cash them, but on Monday I got about 15 won/dollar more at Hana Bank, which was nice b/c I was turning in about 1200 USD. All in all though that comes out to about 18 USD more (I think)--not much, but 18 USD more than I would have had. If you have a smaller amount of cash, it's probably not worth it though.

[jkelly80]

To be clear, 15 won is about 1.4 cents. So pretty minimal.