Korean Job Discussion Forums

[Dude Ranch]

my flight is early monday morning and I didn't have time to send money home via bank transfer. I went to the machine and withdrew 4,000,000 won and they gave it to me in KB 100,000 won bank notes. I've never seen these before

anyways, does anyone know if I can exchange these in Canada? The only other option would be to exchange it at the airport but then I would have to face the bad exchange rates they have there

oh and PS. the limit amount of cash to bring in between countries is $10,000 correct? I'll be ok going with $6,000 or so?

[big_fella1]

Do not take won notes or cheques to Canada, the fees will be huge. The w100,000 are cheques not cash (although here you can use them like cash) you could be looking at CAD$20 each cheque to cash them in Canada, in the unlikely event your bank will cash them.

Korean airports have multiple banks providing foreign exchange so the rates are close to the branch rates.

If you are in Seoul there is a street where you can find adjumas with bags doing currency exchange on the street, their rates are meant to be better than the banks but I think they only handle US dollars, maybe someone could post more details here as I forget the suburb.

Regarding the limit you can take any amount out with you but you must declare amounts over USD$10,000 so you will be fine.

Have a good trip.

BTW do not redeposit the cheques to your account now as they do require about 1 business day to clear if they are deposited to a bank account.

[Dude Ranch]

Thanks Big Fella

I'm just going to go to KB bank in Incheon airport and exchange my won for Canadian dollars there. I hear they have a pretty good exchange rate (at least as far as airports go)

I'm a little nervous about carrying all that cash on me in the plane. I heard KB can do a 'bank slip' - a piece of paper that can be exchanged at banks in Canada but I don't know if I trust that either. Will probably just stash the money in a money belt and leave it on me

Anyways, I'll see you all you crazy cats back in Canada!

[crescent]

Even in Toronto's Chinatown, which has a huge Korean population, I could not change won to loonie at TD branches..

Absurd.

[giraffe]

[Mr. Pink]

Don't be worried carrying 4mil won on the plane with you - that is like $3500 or something like that Canadian. That really isn't a lot of cash. Get it in $100 bills and you'll be surprised that it doesn't look like much.

Just to warn you though, Canada has become anti-$100 bill, so outside of your bank, there aren't a lot of places that will take those bills.

Good luck.

[adventurer01]

Definitely change the money before you leave Korea. Incheon airport should have a better exchange rate than in Canada at a bank. Even if you have to change it to US dollars, it would be better than taking Korean won. The exchange rate is pretty good right now.

BTW, how did you manage to get 4,000,000 won out of a machine at once? I thought the withdrawal limit was much less than that usually.

[tzechuk]

100,000 won BANK NOTE or CHEQUE?

There's no such thing as a 100,000 won bank note. The highest it comes in is 50,000 won.

If they are cheques, you are not going to be able to exchange them in Canada.

[Dude Ranch]

hey thanks guys. Im going this morning to Incheon. I'm going to exchange my won for dollars at either the KB bank or the other exchange place in the B1 level of the airport. They open at 6am

adventure1. I don't know really. I just selected the 4 million and it gave it to me. dunno why. I just have the usual acount, nothing special

[tomwaits]

as for Toronto Chinatown I doubt many Chinese even live there now (let alone Koreans) think they live elsewhere and run businesses there. also think it's highly Viet now also..

$ changing places on Yonge street will take won ---not sure about those money order things though.