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pidgin
Joined: 31 Jul 2005
Location: Seoul
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 Posted: Mon Aug 11, 2008 9:35 pm Post subject: Sending money out....options? |
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Hi.
The rates for bank-to bank international money transfers are killing me!!
At Hana Bank (if I understand correctly) the current flat charge is 20,000, regardless of the amount to be sent. (can anyone confirm that??)
At any rate I need to send some less than large amounts at different times and was wondering if anyone knows any other alternatives...
I know the bank transfers take about 2/3 days and you can opt to bite the delivery charge or allow it to be taken off of the amount. The last time I sent a measly hundred dollars, the total taken from my acct. was $134!!
Any services out there that take longer to arrive and charge less?? |
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paulandamy
Joined: 06 Jun 2008
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| Posted: Mon Aug 11, 2008 10:19 pm Post subject: |
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Open a citi bank account in Korea.
Open a citi bank account in the US.
Transfer fee for a 5,000,000W to the US account is 5,000W.
It shows up instantly. |
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nolegirl
Joined: 17 Apr 2008
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| Posted: Mon Aug 11, 2008 11:58 pm Post subject: |
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Nope, your wrong about Hana Bank, it is not a flat rate. If you send over 2 mil it goes up, over 5 mil, 10 being max. But it is not a flat rate I just talked to my bank about it yesterday.
The citi bank thing would be good, but you can't open a US bank acct in Korea. |
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seoulteacher
Joined: 18 Nov 2005
Location: Seoul
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| Posted: Tue Aug 12, 2008 12:44 am Post subject: |
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| nolegirl wrote: |
The citi bank thing would be good, but you can't open a US bank acct in Korea. |
I opened a US $ bank a/c at KB, approx. two years ago. I then transfered in US $ from the USA; I also deposited US $ to it in Seoul, and transfered US $ to a bank a/c in Canada.
Nolegirl, have the regulations changed (ie. for foreigners) since I opened my KB a/c?
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OP, check out this recent thread- it has good info:
Sending Money Home Via ATM at KB-- At last!
http://forums.eslcafe.com/korea/viewtopic.php?p=1752279&highlight=#1752279 |
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pidgin
Joined: 31 Jul 2005
Location: Seoul
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| Posted: Tue Aug 12, 2008 8:59 pm Post subject: |
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| paulandamy wrote: |
| Transfer fee for a 5,000,000W to the US account is 5,000W. It shows up instantly. |
Sorry I neglected to mention that I send small amounts to different accounts in Thailand.
nolegirl: thanks for the clarification 
seoulteacher: GREAT thread, thanks for that.  |
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