Korean Job Discussion Forums

[PeterDragon]

gfds

[OculisOrbis]

It was never the government preventing you from getting the card - there are no laws that say we can't have these cards. It was just the bank's 'policy' to deny foreigners the services. I recommend switching to KEB. You can get the card you want and they also have very convenient international remittance options and an English internet banking service. They usually have someone who understands what you're asking for, but......

If your trying to get service at KEB and they say no because your a foreigner, just call the woman at the number listed at the bottom of the article below, explain your issue with the bank, hand the phone the offending teller, and things will be sorted for you. She's great. I got my Global Debit Card and credit card because of her.



Improved Regulations on Overseas Travel Expenditures, Newly Introduced


The Seoul Metropolitan Government has been in cooperation with Ministry of Strategy and Finance since January of 2008, working to alleviate foreigners' inconveniences when using their Korean funds overseas through credit cards etc. Finally, we have found a more convenient system regarding the ability to access such funds overseas. These improved regulations entered into effect beginning on June 2nd, 2008.


[Newly Introduced Regulations (2008.6.2.)]

Foreigners can access their Korean funds overseas using credit cards and other types of cards up to $50,000 a year in addition to the amount of taxed income earned in Korea, so that foreigners may feel freer when traveling overseas.


※ For further information, please contact Seoul Global Center

(Kang eun-sung, ☎02-2075-4146, Korea Exchange Bank Credit Card desk).


****Also not sure about using the card for Paypal, but I know that the Global Check Card works for cash withdrawals when outside Korea, but not purchases. I have used my Samsung Visa for purchases online and outside Korea, but still no idea if you can connect it to Paypal.****

[sarbonn]

Does anyone happen to know how much won you need to open up a KEB account? I've been here almost a month and will get paid for the first time on the 10th, but I'm kind of weary of the bank my Hagwon boss seems to want everyone to be part of.

[xingyiman]

[prideofidaho]

I lost my bank card, and the new one I got says "International"...we'll see if it's lying to me or not. I'm with Hana.

[DCJames]

[seoulsucker]

[Tommy]

[ttompatz]

quoted from a previous post of mine:

Dear Mr. Ttompatz;

Thank you for using Woori bank service.

As for your inquiry, we have a credit card available to foreign residents.

However, there is a requirement you should meet, a time deposit, which Woori bank is going to take it as a security, and the minimum amount for that should be no less than w1,000,000.

When you are ready for this, please visit your local branch office with your ID card used for your account establishment (it could be either your alien card or passport) and the bankbook. We will be glad to help you.

If you have further questions, please send a message or call Woori Bank Customer Service at 02-2008-5000,#7. Our collect number is 080-365-5000,#7. Representatives are available to assist you from 9:30 AM Monday through to 5:30 PM Friday.

Thank you for using Woori Bank. We appreciate the opportunity to serve you.
Best regards,
Tina
-----------------------------------------------------------------------------------
The way it works is your limit is ~95% of your deposit.
1.1 million won time deposit = 1 million won limit.
2.2 million won time deposit = 2 million won limit.

Your money is placed in a term deposit with an interest (as of Jan 2006) rate of about 4.5-5.5% and then you get a VISA card that can be used globally, can also be used for bus/subway domesticallyand gives discounts at various locations like Everland/LotteWorld (50%), theaters (2000won), various restaurants. etc.

If the clerk in the bank doesn't speak English, get them to phone the number listed above and the Customer service center will assist you with translation and take care of any problems. Takes about 30-35 minutes for the whole process. You get your card in the mail in about a week.

You can get your deposit back early simply by turning in your card and closing the account.

Position and employer don't matter.

[livinginkunsan]

[OculisOrbis]

I was given a global check card from Nonghyup, that I specifically need for outside Korea. I asked and was assured repeatedly that I could withdraw cash outside Korea by the teller and my co-teacher called after just to make sure there was no misunderstanding. And then I went on vacation...........it didn't work. I went back and asked what the problem was and the manager-type guy told me, after conferring with the teller, that is was an 'electronic error' that happens to foreigner card and that it happens outside Korea.

Then I went to KEB, aquired a global card from them and it works fine. I used it in the Philippines over Chuseok with no problems. The Samsung visa saved my butt on the first trip by allowing cash advances when the Nongyhup Global card didnt work globally.

[PeterDragon]

dgf

[OiGirl]

[ttompatz]

[hagwonnewbie]

Are you suggesting that a hagwon is not a secure job?