Korean Job Discussion Forums

[hochhasd]

I need to transfer money in my KB account to my American bank account. I want to do this through the ATM. My bank in the US will not charge me their transfer fee. The information my Korean teacher got over the phone from KB was their transfer fee for 1to 2000 us dollar would be 10,000 won(fine),but then she said I had to pay a wire fee of 8,000 won. I said wait,something does not sound right. The co-teacher did not even have the instructions for the process. I thought the only fee was the 10,000 won and I need to give KB my account information from the US
bank account. I know there is a button on the ATM that says transfers. I thought I could just put my KB card in and then insert my US bank card? I would appreciate any assistance that can be afford and no I can not change banks.

[hochhasd]

does anyone know how the process is done?

[Kikomom]

Disclaimer: I only know this from reading old posts here, so take that for what it's worth. Someone will correct me if I'm wrong.

First of all you need to have brought your American bank account information with you (or call them for it)--routing number, account number, etc. It can be read from a check or bank statement.

Then you need to go inside the bank and have this account registered to your KB account. Sometimes they require that you make an initial wire transfer to get the bank info attached to your account to be used in the future, online, or at the ATM.

After that, the American bank account will automatically appear as a selection on the screen when you use your ATM card and punch the buttons to bring up Overseas Remittance. Let the teller know that this is what you wish to do--use the overseas remittance function at the ATM.

[hochhasd]

[hochhasd]

Does anyone know about this supposed extra fee of 8000 won?