Korean Job Discussion Forums

[Michelle]

Hi All,

Just when I was sitting at the KB cursing the usual lengthy wait to remit....a brochure caught my eye.

It is now possible to do an ATM transfer to your OVERSEAS account using the ATM machine in English.

It saves both dealing with the bank person and some fees.

When you next visit make it clear you want to set this up, once you set it up it's done and you can use the same transaction again.

Those who don't like KEB consider KB*, at least for remitting.

[ChinaBoy]

It's been like that for a while, but good to remind people. Quite easy.

[egrog1717]

I saw a poster back in Sept. saying this was possible so I dragged my co-teacher to the bank with all of my paperwork... Takes about 30 minutes to set up but you never have to go into the bank to make a transfer again...

5k won to send cash out of the country, and it arrives in 3-4 days...

[Mr Crowley]

What paperwork do you need to bring with you to set this up ?

[ChinaBoy]

I think if you've transferred money before, they've got your information on hand and can set it up for you

You'll need your bank back home, routing numbers, account numbers, that kind of stuff.. intermediary banks is when it gets tricky

[egrog1717]

They needed the following from me:

Passport, ARC, My account number with KB, My account number for my Canadian bank, the bank's address, the bank's routing number, my address here, the address of my school, someone from my school to sign saying that I worked for the school (in lieu of some form from the school that says I work for them), and 3k won for my bank card...

Pretty sure that was it... lol

[Omkara]

How would you compare KEB to KB?

It seems that there are more locations for the KB here in Busan. But are there other advantages or disadvantages you can see?

I think the internet pages of KEB are superior and easier to figure out.

[Jeff's Cigarettes]

Why bother going to an ATM, I do mine from the comfort of my home. But, now I don't remit just deposit into an acct that i use just for this purpose and my sister in law takes it out at the other end using one of my international ATM cards from Korea. Save on fees and the rate is good. Oh, internet banking is ur friend.

[falldownstumble]

If you have ever sent money home before, you don't need to do anything at all. You don't have to set anything up. The possibility is already there for you at the ATM. (I mean, if you have been using KB* already.)

I transferred money home manually, waiting in line, experiencing poor communication with the staff, for about a year. Then one day I was at the ATM and I saw a new "Overseas Remittance" button, and my life changed forever!!

[Morgen]

For the few weeks I used it, KEB's internet banking was a little...involved and not really intuitive, but I guess easy enough to manage once you remember where everything is. I use a Mac though, so I can't install the security key on it, which is why I use KB's atm. It takes quite a long time for them to set up, but once you're done I'd say it takes less time at the atm than KEB takes online, start to finish. I went alone to sign up and I don't remember needing anyone to sign a form verifying my employment but I'm sure it doesn't hurt to have your co-teacher along, not that it's even worth transferring won these days.

[Jeff's Cigarettes]

" Then one day I was at the ATM and I saw a new "Overseas Remittance" button, and my life changed forever!!"

I have an "overseas remittance acct" w/ keb but I had to go into the bank and set it up. I can only send to the foreign acct I specified. Are you saying w/ KB you can send to any acct...you don't first have to set it up w/ the bank?

[ChinaBoy]

No, that guy had sent home money before with KB*, and the ATM is propagated with the information previously provided

[Starla]

Yeah, just did a transfer yesterday at the KB in Itaewon and I have to say it was easy though a bit pricey. I was glad to get a brochure about ATM transfers from the guy who helped me since I don't live or work anywhere near Itaewon. He was quick and really helpful.

My gripe with KB is that I you can't do transfers to your American bank account through your on-line KB account even though I was told otherwise when I did my first transfer with my co-worker in a KB near my workplace. So I was sitting like an idiot in front of my computer the other day trying to do one to no avail. Also, only certain pages are translated into English and not that well at that as is the case with most Korean websites claiming they have English versions. Last, you can't get a credit card with KB unless you give up a significant amount of cash. So the transfers to pay off my American credit card are necessary until I get one. Otherwise, I like KB and their customer service. Now if there was an English speaking rep at more locations, things would be perfect.

[egrog1717]

[Starla]