Korean Job Discussion Forums

[eunjeong]

If you have access to online banking in Korea is it possible to transfer money from your Korean bank account to your Canadian bank account purely online?

[losing_touch]

I do it to the states with KEB bank - all online.

[BS.Dos.]

Yes. I'm with Nonghyup. Took a while to set it up, but it was worth it. I haven't set foot inside a branch for about a year now and do all my transfers online.

[Missihippi]

[BS.Dos.]

I don't have the time at the moment to explain in detail, but you basically need to open another account first. You transfer money from your regular account (the one which your wages are paid into), then transfer from there into the other account. This other account obviously needs to linked to your online banking. For some reason, you can't transfer from your former account, which I assume is just a deposit account.

To set up online banking, ideally, get someone who speaks English in your branch to help you. Failing that, get them to walk through the process with you. There's usually a PC in the branch. You'll also need a USB/keyfobb when you go to set up your online account as they need to download a small secruity program on to it, so take one with you when you enquire. You'll need to run this program from your USB when you log onto your banks website each time you want to transfer etc. That sounds more complicated than it actually is. Bascially, it pretty much detects itself once you log-in.

With Nongyhup, there's a limit to how much you can transfer each day, about $1000 I think. This also includeds transfers between accounts, so you transfer between accounts on the first day, then transfer back to your account back home the next.

Easiest way is to have them take you through it, then come back here with any questions that weren't made clear to you by them. If you've a good English speaking person in your bank, then it shouldn't take long to set it up. If, like me, you don't, then it could potentially be an exacting experience, but one which is worth it.

[Jeff's Cigarettes]

Yes, w/ KEB it's called a remittance acct.

[Jammer113]

I have nonghyup too. I'd say it's taken 3 visits to set up the online account in order to transfer to america. Just little things missed here and there, such as needing my passport number associated with the account and not having that at first. Incidentally, while the online banking was in English, the online registration (after you get it setup at the bank) was in Korean. I couldn't find registration in English. Could help if you had some translating assistance.

[Missihippi]

I will check it out next chance i get. I'm also under the impression that they charge 30,000 won for international transfers? confirm/deny

[BS.Dos.]

err...I can't remember tbh. I actually transfered monies home this morning, but can't remember how much they charge. It isn't that much, but you do get stung at both ends, although it's higher at the other.