Korean Job Discussion Forums

[pkang0202]

I want to send some money over from BoA to my Korean Account.

Now, there are 2 options. 1 I can wire transfer it and pay a $45 international wire transfer fee from BoA

Or 2. I can just withdraw the money with my BoA ATM card at a Korean ATM.

I think if you use an ATM, you get hit with a $5 ATM usage fee, also I think BoA charges you like 1% convenience fee. On top of that, I'm not sure what kind of exchange rate they will use.

The amount I want to send is ~$900.

My question for you is, which way would be the best so I get as much money as I can?

[hagwonnewbie]

When I first came here, the only ATM machines that allowed me to use my BOA debit card were the ones in convenience stores that had a sign saying "red zone".
They had a 100$ limit and charged 5$ fee. I can't remember, but I'm guessing BOA charged me 3% or something on top of that to use my card internationally.

If you really need 900 now, you should just pay the 45$ fee.

If you just need spending money, and there is no international fee, I'd take out a hundred at a time til you get paid.

[Italy37612]

If you have any Army friend you can get signed on the base and they have BoA ATM's there. That's what I did when I needed some extra cash for a vacation.

[teecee]

[KevinLS]

Won't BoA cards work at the Global ATMs that KB has?

I think it'd be a bit cheaper (and easier) to use the ATM than a wire transfer. They don't appear to have limits on the transaction amount, the options on screen go up to 1,000,000 KRW (which is about what you said), and you can type custom amounts.

A little over two months ago I used an ATM to get 500k won from my account at 5/3 bank in the US. Mastercard took a 85cent currency conversion fee and 5/3 took a $12.60 international transaction fee.