Korean Job Discussion Forums

[ovrproof]

I know this is possible in Canada. But I assume it is only possible between Canadian banks. Does anybody else know what I am talking about or if it exists in Korea?

The transfer is called an Interac money transfer. Or do you still have to go to the banks in Korea in order to transfer money home?

[Big Mac]

It is possible to wire money to your home bank via online banking in Korea.

My account is with Korea Exchange Bank (KEB) and I have my online banking set up to wire money home. You have to bring your overseas banking details into the bank to set it up before you can use it. After that, you can wire money home without ever having to go into the bank. However, if you decide later that you want to send money to a different account than the one you initially set up, you will have to go to the bank and get them to set it up for you.

Korea Exchange Bank will charge you 8,000 Won for each online overseas transfer. Your home bank may also charge you a receiving fee. The Royal Bank of Canada charges you $15 to receive the money.

With KEB's online banking you can also wire money to other accounts at any Korean bank very easily. You can also pay your bills online. For domestic transfers you do not need to visit the bank every time you want to add an account number.