Korean Job Discussion Forums

Dances With Wolves · Joined: 06 May 2008 Location: A galaxy far, far away!

I am curious on what the rule is for using your credit card or ATM card here in Korea. What is the specific cut off time that I can not use it? I have tried to get cashee out of the ATM after midnight before, and could not get any cashee. I have tried to use my debit card at a store after midnight with no luck as well. If there is a cut off time, is this only for foreigners, and what bank can I join so this does not happen?
As usual thanks in advance for the help.

Underwaterbob · Joined: 08 Jan 2005 Location: In Cognito

I'm with Kookmin and I'm pretty sure I've taken money out around 3, 4 or 5 AM. Though my memory of those times of night are sketchy at best.

Ed Provencher · Joined: 15 Oct 2006

I'm with Woori Bank although this applies to all banks. Around midnight, the ATMs will not give money for about 30 minutes. (Anecdotal evidence)

I have had a different problem. I'd use my card during regular business hours and the clerk would tell me my card has been denied for insuffiicient funds. I thought my card was broken the first time and got a new one. The second time, I went to the bank and was told I can only use my card for 200,000 Won worth of purchases each month, the rest I need to use cash that I withdraw. I filled out a form and was able to increase the useable amount to 1,000,000 Won per month and don't see any future problems. HTH

ChinaBoy · Joined: 17 Feb 2007

Yes, it's natural for the ATMs to be offline for a while as they update.

I happened to have worked in a bank back home, and people would sometimes go overdrawn if they withdrew too much during this period (it's policy to give them money even though the ATM doesn't know how much money they have during this "update"). So it's up to the bank/laws if you can withdraw money during the update. Here you can't.

Ed's experience is also common, a pre-set spending limit.

red_devil · Joined: 30 Jun 2008 Location: Korea

One thing i learned when i first got to Korea is that the bank ATM's and even the ones in Family Mart/GS are not always available to withdraw cash 24Hrs. There are some ATM's that will specifically say 24HR ATM, so you have to look out for those. I'm not sure if this applies to Credit Cards, mine was a debit/check (it did have VISA logo on it but i guess that was irrelevant).