Korean Job Discussion Forums

[tehdee]

as the title indicates i'd like to have my pension sent to my woori bank account as opposed to nps wiring the money to canada for me.

has anybody done this before? what has the turnaround time been?



the reason is ill be going home at the end of my contract, then coming back two weeks later to meet a friend and do some travelling...

[schlotzy]

Hmmm...I always thought you had to show proof you were leaving Korea with a plane ticket out of the country and that they HAD to wire it home. If there's a way to do this, I'd love to know

[Mirabilis85]

Ive heard of it being done. Just bring the required documents and show them your Korean bank book instead of your Western one. My friend had the money 2-3 weeks later. Im planning to do the same thing when I leave and just use web banking to get the money.

[ttompatz]

[isisaredead]

i requested mine to be placed into my korean bank account. there didn't seem to be any problems.

they also gave me a timeframe of about 30 days. i HAVE heard it can be quicker if it's going into a korean bank account, but i am certainly not the one to ask.

[Big Mac]

I also did this. It wasn't an issue at all. It took about a month for the money to be deposited into my account. I can access the money from outside Korea with online banking.

Just bring your Korean bankbook with you when you make the application.

[moosehead]

it used to be faster but now it's at least 30 days from when you apply. that's because they contact your school(s) and give them a complete payroll period to make sure all your payments have been made - maybe because some schools don't always stay up to date?

but as for depositing it locally, no problem. the pension office will send it where ever you want.

[oldtactics]

I did this and mine took about 10 days total from when I handed in the paperwork to when the money arrived. I went to the office myself, with e-ticket in hand.

[Hardy Boy]

I have done it. I have helped others do it. There have been absolutely no problems with doing it.

[tehdee]

thanks everyone.

[lifeinkorea]

Actually, putting it into your Korean bank account is easier than sending it home. They just write down the account number, do a bank transfer, and it's done. With sending home, they have to fill some remittance garbage which involves putting down the address correctly of the bank receiving the funds.

When I tried this, I kept getting error messages, "address is not in the proper format". After trying to change the order of things for an hour, I gave up and went in person. I wouldn't want the pension office to be in the same situation when sending my money. I doubt they would just go to a bank to get it done. Transferring to your Korean bank account seems like the safest route. Get a global card and withdraw if you don't need the money yet.