Korean Job Discussion Forums

[sbp59]

Ok, so I've read some old threads on how much cash you need to come over to Korea. Most people are saying in the $500-1000 range. I have no problems with that. But how much actual cash in hand did you bring. I don't really want to be carrying around a bankroll of 1 million won with me.

How much did you actually bring with you? Is it easy to convert Canadian money to Korean in the airports? I'm assuming the Seoul airport has alot of money exchange areas?

I've read that there are International Bank machines and that they should work for North American bank cards. How do you recognize an international machine over a regular?

Thank in Advance.

[Tundra_Creature]

Haven't gone to Korea yet, but it's generally pretty damn easy to get your cash changed. Did it when I went to the States and Japan. Had about 500 when I went over to Japan. You go to the teller, say this is how much you want in ____ currency. Pretty simple.

Any international airport is going to have at LEAST one. Heck, these days, you can even go to malls and find a teller to convert your money.

Not sure about International atms, though. I'm sure there will be some sort of indication. Most people recommend you opening a bank there though.

Actually, now that the thought has crossed my mind, is there a way to link up a Korean Bank account to the one of your home country?

[climber159]

There are international ATMs at the airport and the larger bank branches around Korea. I'd say bring aound $500 (If you bring $US you'll have a little easier time changing your money) with and change at the airport. You'll get a better deal changing in Korea than you will anywhere else.

After you arrive, head to a KEB branch (personally, I like the Itaewon branch best) to open an account. They'll issue an international ATM card and get you set up with internet banking so you can easily transfer money to your home account.

[Clockout]

I came to Korea with $300 cash in hand and after converting to won it lasted me like 2 weeks. I was kind of amazed. To be fair, I was barely eating and suffering from severe jet lag, fatigue and flu symptoms for that first week or so.

The "365" ATM machines are fairly common in and around Seoul and have always worked for taking out cash from my U.S. checking account. They charge a nominal fee of W1200 or something. I also got charged another couple bucks by Wells Fargo back home.

[Ruthdes]

When I came I brought about $1000AUD worth of travelers checks (the only time in my life I've used them). In retrospect, it was a waste of money. I think that my school recommended them, otherwise I wouldn't have bothered. I got stung on the conversion to USD for the check and then on conversion to Won. I would have been better off bringing a few hundred AUD in cash, changing it at the airport, and getting the rest from ATMs. I've always found that on my travels I get a better exchange rate from ATMs than from money changing places (particularly ones in airports). You will have no trouble changing Canadian dollars. Don't get USD because, like I was, you'll be getting screwed on conversion twice instead of once.

Unlike ATMs in most places I've traveled, most here aren't actually international ones. They are common enough, but you may have to try a few before you find one (hence, bringing some initial money to tide you over til you find one). To identify them, it will depend on the type of card you have. The most common varieties of international ATM card are the Maestro/Cirrus brand and the Visa Plus brand (sometimes written as just "plus"). Check your card and look for the same logo written on or around the ATM. If you let us know where you will be living, maybe someone can tell you where one is. Like the above poster said, you'll be charged about 1200 won by the bank here, and whatever your home bank charges you (mine in Oz charges 4AUD). This is a flat rate though, and as long as you take out decent amounts of money at once, it's the most economical way to access your overseas funds that I've found.

The advice about KEB (beware: not KB), is good. They are the only bank that will give you an international ATM card to access your Korean money. Just double check that you've signed all the appropriate paperwork before you rely on it for travel b/c they stuffed me around a little and I couldn't use it when I went on holiday a couple of weeks ago.

Good luck with your relocation