Korean Job Discussion Forums

[bithy75]

I don't know if this has been discussed before (I did a search and didn't find anything), but I'm wondering how those of you who do privates manage your money. My student pays me in cash every time, and I'd really like to be able to deposit it in my back account. I don't mean to be paranoid, but wouldn't I look kind of suspicious going to the bank with a big wad of cash to deposit, especially if I have to bring a Korean co-worker with me as a translator? Even if I could do it alone, maybe it would also look suspicious that I'm making such frequent cash deposits all of a sudden. I'd like to save some of this money, but I almost feel like I have to spend it right away. Any advice?

[kangnamdragon]

you could deposit it in the ATM

[Mr. Pink]

How about you open a few bank accounts at different banks.

Why do you need a translator? If I was you I'd open a bank at 2-3 major banks and just spread out your deposits if you are banking HUGE cash.

Once a month transfer it all to 1 bank and send it home.

Easy huh?

[batman]

I am pretty sure you have nothing to worry or to be paranoid about. The bank tellers here are used to dealing with large amounts of cash. (Until just a couple of short years ago Korea was a cash based society. The doomed love affair with credit cards is a recent thing.)
On a few occassions I have walked into my bank with upwards of six million in cash (easy to do especially at the end of a contract with last month's pay and yearend bonus in hand). Not once did the teller ever bat an eye.
About three years ago I had a month to kill between jobs. I spent the time doing privates full-time. It meant getting paid, on average, every two days or so. I just took the money to the bank and threw it into my account. At the time my mother had my atm card and she just withdrew the money from the atm near her home.
If you already have your bank account set up then I don't understand why you would be taking your Korean co-worker to the bank with you. If you have an account you dont' even have to fill out a deposit slip at the bank. Just put the money and your bankbook in the little plastic tray on the counter, hand it over to the teller and she will do the paperwork for you.

[waggo]

If you get paid in checks dont put them in the account as they can be traced....cash them somewhere first.

[Son Deureo!]

[cacheSurfer]

are you really that paranoid? ?

dont worry about it so much. no is gunna find out.

except maybe me and the others who read this thread..