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nene
Joined: 11 Jun 2005
Location: Samcheok, Gangwon-do
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 Posted: Tue Mar 17, 2009 4:58 am Post subject: How much does your bank at home charge to receive transfers? |
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| KEB was nothing. Wells Fargo took $18 off the amount of the transfer and then tacked on a $10 fee. Anyone's bank better? |
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Big Mac
Joined: 17 Sep 2005
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| Posted: Tue Mar 17, 2009 5:50 am Post subject: |
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| I thought my bank was bad for charging a $15 fee. That's the Royal Bank in Canada. |
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losing_touch
Joined: 26 Jun 2008
Location: Ulsan - I think!
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| Posted: Tue Mar 17, 2009 5:54 am Post subject: Re: How much does your bank at home charge to receive transf |
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| nene wrote: |
| KEB was nothing. Wells Fargo took $18 off the amount of the transfer and then tacked on a $10 fee. Anyone's bank better? |
The $18 fee is done by an intermediary of some sort. I am not sure who is doing the charging. My research suggests that it is neither KEB or my bank in the states. This is the nature of the financial world. My bank in the states charges me $0 to transfer money. Yes, that would be FREE. Open yourself a Schwab Checking Account. ATMs are free too ..... |
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bobbybigfoot
Joined: 05 May 2007
Location: Seoul
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| Posted: Tue Mar 17, 2009 7:54 am Post subject: |
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For me, there are three charges:
(1) KEB wire charges
(2) Scotiabank charge of $10.
(3) A mystery charge of $10. An extra $10 is always missing. Annoying. |
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oldtactics
Joined: 18 Oct 2008
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| Posted: Tue Mar 17, 2009 2:27 pm Post subject: |
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| TD Canada Trust charges about $14 |
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davai!
Joined: 04 Dec 2005
Location: Kuwait
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| Posted: Tue Mar 17, 2009 4:09 pm Post subject: |
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cost of AMEX travellers checks: slightly LESS than exchanging for cash.
cost of envelope and airmail stamp: about 1000 won
Never took more than a week to get to my WAMU acct. (The branch just put up temp. Chase signs over the Wamu signs this week) Their charge: $0
now tell me why anyone still uses bank transfers...... |
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refikaM
Joined: 06 May 2006
Location: Gangwondo
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| Posted: Tue Mar 17, 2009 4:23 pm Post subject: bank transfers |
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It costs about $14 for transfers into my bank account in the US..
BTW davai! You obviously have someone at home who receives your traveler's checks and deposits them into your account for you.. Some people don't have that option, so they must transfer directly from bank to bank... You're lucky to be able to do that, though! It surely saves you a lot! |
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davai!
Joined: 04 Dec 2005
Location: Kuwait
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| Posted: Tue Mar 17, 2009 4:29 pm Post subject: |
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Nope, sent it right to the branch.
I didn't even send deposit slips, just wrote the acct. no. on the back of each TC and shipped them off. |
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penguin
Joined: 16 Aug 2003
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| Posted: Wed Mar 18, 2009 5:00 pm Post subject: |
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| I just spent over W 50,000 at Woori to transfer money and pay ALL charges (sending & receiving). CIBC then took another $10 off. Complete rip-off. There's got to be a better way... |
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sarbonn
Joined: 14 Oct 2008
Location: Michigan
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| Posted: Wed Mar 18, 2009 5:25 pm Post subject: |
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| penguin wrote: |
| I just spent over W 50,000 at Woori to transfer money and pay ALL charges (sending & receiving). CIBC then took another $10 off. Complete rip-off. There's got to be a better way... |
I've been using Woori and WAMU, and I've been getting massively ripped off. This last week, I sent 900,000 won to a friend with a Wells Fargo account, and I was told it was going to be about $599, and it ended up being about $550, plus the charge she was made to pay at Wells Fargo. There's really gotta be a better way than this. |
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bobbybigfoot
Joined: 05 May 2007
Location: Seoul
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| Posted: Wed Mar 18, 2009 7:42 pm Post subject: |
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| davai! wrote: |
cost of AMEX travellers checks: slightly LESS than exchanging for cash.
cost of envelope and airmail stamp: about 1000 won
Never took more than a week to get to my WAMU acct. (The branch just put up temp. Chase signs over the Wamu signs this week) Their charge: $0
now tell me why anyone still uses bank transfers...... |
Great idea! I'll have to check out the traveler cheque rate next time I'm at KEB. |
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losing_touch
Joined: 26 Jun 2008
Location: Ulsan - I think!
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| Posted: Wed Mar 18, 2009 7:46 pm Post subject: |
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| bobbybigfoot wrote: |
| davai! wrote: |
cost of AMEX travellers checks: slightly LESS than exchanging for cash.
cost of envelope and airmail stamp: about 1000 won
Never took more than a week to get to my WAMU acct. (The branch just put up temp. Chase signs over the Wamu signs this week) Their charge: $0
now tell me why anyone still uses bank transfers...... |
Great idea! I'll have to check out the traveler cheque rate next time I'm at KEB. |
Alternatively, check online:
http://www.keb.co.kr/IBS/nebanking/en/fx/fx/ca_100.jsp?vcode=18000000000000&scode=18010100000000 |
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ChinaBoy
Joined: 17 Feb 2007
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| Posted: Wed Mar 18, 2009 10:28 pm Post subject: |
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| I pay $0 to receive transfers, as I don't use a bank, I use a credit union. No monthly fees, no minimum balance either. |
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davai!
Joined: 04 Dec 2005
Location: Kuwait
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| Posted: Thu Mar 19, 2009 5:32 pm Post subject: |
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| bobbybigfoot wrote: |
| davai! wrote: |
cost of AMEX travellers checks: slightly LESS than exchanging for cash.
cost of envelope and airmail stamp: about 1000 won
Never took more than a week to get to my WAMU acct. (The branch just put up temp. Chase signs over the Wamu signs this week) Their charge: $0
now tell me why anyone still uses bank transfers...... |
Great idea! I'll have to check out the traveler cheque rate next time I'm at KEB. |
make sure you make them out to yourself, then on the back of the TC write your account number, sign it and "FOR DEPOSIT ONLY" That way, they can not be cashed by anyone else. Use a deposit slip if you have one, if you don't, don't sweat it. The transaction will be self-evident to the brainiac tellers in the West.
Also, it would be best to put the TCs inside a sheet of paper and in the envelope before you get to the KPO. Also don't write ''bank'' anywhere on it. Use a code/abbr. like Wamu or BofA.
Finally, make sure to get receipts, in case the plane goes down on some South Pacific Island in 1974 |
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Teelo
Joined: 09 Oct 2008
Location: Wellington, NZ
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| Posted: Thu Mar 19, 2009 10:43 pm Post subject: |
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| davai! wrote: |
| Finally, make sure to get receipts, in case the plane goes down on some South Pacific Island in 1974 |
I have to pay 13,000 for KEB to send it, then the amount that goes into my account is twenty dollars less than what is written on the KEB receipt.
My account in NZ is with Westpac, yet the KEB receipt says they are sending the money to "Kookmin Auckland"?  |
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