Korean Job Discussion Forums

Omkara · Joined: 18 Feb 2006 Location: USA

I'm doing the basic research on these two types of accounts. Which do you think is better, and why?

Also, do you know if it is necessary to show up in the bank physically to open such an account? I want to open the account in America, but it is not clear if I have to show up in the bank itself. (I'd have to take several steps to learn this point. I'd first have to move money; second, I'd have to apply for either a money market account or a CD. The only other option I could see was to call America directly. This seemed an easier route for the moment.)

bassexpander · Joined: 13 Sep 2007 Location: Someplace you'd rather be.

If you're in Korea, I suggest opening an account with PRIME bank. It's sort of an online bank, and it's not meant to be used as much more than a savings account, but I get 6.9 percent interest on up to 40 million won (I think) in there. We just got a text message last week that said they have an offer of 7.1 percent going now -- or thereabouts -- but you need 10 million won to get into that one.

You can go to their main branch and set it up.

Another good one to look into that's popular with Koreans is TOMATO bank. Similar kind of thing.

No USA accounts of a similar nature can come close to these numbers, as far as I know.

Omkara · Joined: 18 Feb 2006 Location: USA

Cool! Thanks for the info. I'll look into it.