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Hamlet
Joined: 18 Mar 2008
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 Posted: Mon Jul 05, 2010 10:01 pm Post subject: Leaving With No ARC...what happens at immigration? |
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I'm leaving Korea soon. I am going to leave about 20 million Won here. My ATM card expires in two years.
The bank says they will not issue another one (or allow me to come back and do any other banking) without my ARC card.
I told them immigration will take it when I leave. They told me that I had better transfer all my money out of the bank using online banking before the ATM card expires. Also, if I lose the ATM card, they will not give me another one without my ARC. The bank employee told me directly that Korea was a terrible place for a foreigner to leave money because of this rule.
...but he also said that the bank does not care how old the ARC is or if it is expired, just as long as I have it!
So, I'm thinking about packing it in my suitcase and telling immigration at the airport that I lost it. In that case, what will happen? Is there a fine to pay? Am I going to be held up for hours? If anyone has experienced leaving the country with no ARC, please let me know what happened.
Thanks |
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vsiddy
Joined: 14 Apr 2010
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| Posted: Mon Jul 05, 2010 10:21 pm Post subject: |
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| Why don't you get a second ARC card? Report the first one lost and apply for another one to hand in at the airport. |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Mon Jul 05, 2010 10:24 pm Post subject: Re: Leaving With No ARC...what happens at immigration? |
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| Hamlet wrote: |
I'm leaving Korea soon. I am going to leave about 20 million Won here. My ATM card expires in two years.
The bank says they will not issue another one (or allow me to come back and do any other banking) without my ARC card.
I told them immigration will take it when I leave. They told me that I had better transfer all my money out of the bank using online banking before the ATM card expires. Also, if I lose the ATM card, they will not give me another one without my ARC. The bank employee told me directly that Korea was a terrible place for a foreigner to leave money because of this rule.
...but he also said that the bank does not care how old the ARC is or if it is expired, just as long as I have it!
So, I'm thinking about packing it in my suitcase and telling immigration at the airport that I lost it. In that case, what will happen? Is there a fine to pay? Am I going to be held up for hours? If anyone has experienced leaving the country with no ARC, please let me know what happened.
Thanks |
Usually there is a fine to pay if you lose the ARC. I've heard it's about 100,000 won.
But if you are not coming back, why not take the money with you?
And if you are coming back, you can get another ARC easily enough. |
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pkang0202
Joined: 09 Mar 2007
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| Posted: Mon Jul 05, 2010 11:20 pm Post subject: |
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Just recently there was a post here about someone's wife who was not allowed to leave Korea without surrendering her ARC when she left.
I think it would be best jsut to suck it up, pay the fine for a lost ARC card. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Mon Jul 05, 2010 11:39 pm Post subject: |
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options and facts:
If you try to leave (at the end of your ARC or without a valid re-entry) and you do NOT have your ARC to surrender at passport control you may face a fine of 100k won or be denied exit (usually the fine unless you are unable or unwilling to pay it then denied the exit).
You CAN go to immigration and request a replacement for a "lost" ARC for 10k won.
side note:
I bank at woori bank, I have had a credit card AND valid ATM card from them (even) during periods between jobs when I did NOT have an ARC and it was not a problem as long as I had my bank book (or ATM) and passport.
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Hamlet
Joined: 18 Mar 2008
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| Posted: Tue Jul 06, 2010 12:14 am Post subject: |
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| Quote: |
| Why don't you get a second ARC card? Report the first one lost and apply for another one to hand in at the airport. |
Good idea, but I'm leaving tomorrow....just found out about the bank yesterday.
| Quote: |
But if you are not coming back, why not take the money with you?
And if you are coming back, you can get another ARC easily enough. |
I'm not coming back. I'm moving to China but working freelance for Korean companies. I will be getting paid into my account here, so more money will be coming into it. Plus, since I'm staying in Asia, it's more convenient for me to have my money in Korea than in America. Also, I think the Won will be stronger than the dollar in the long run.
| Quote: |
| I bank at woori bank, I have had a credit card AND valid ATM card from them (even) during periods between jobs when I did NOT have an ARC and it was not a problem as long as I had my bank book (or ATM) and passport. |
The "VALID" part is why you had no trouble, according to the banker I talked to. According to him, it's when my ATM card expires, that my troubles begin. Without my ARC card, they will not give me a new one, even if I have my bank book and my passport!!! That's crazy!
Also crazy is that they don't care if my ARC is old, expired and worthless...they will still accept it and only it as ID for the account.
I think I'll just keep the account for two years and then see if the banking rules have gotten any better by that time. If not, I'll just close it and figure out another way to do my banking.
Thanks for the replies!! |
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crossmr
Joined: 22 Nov 2008
Location: Hwayangdong, Seoul
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| Posted: Tue Jul 06, 2010 2:34 am Post subject: |
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Go change banks fast.
Who do you bank with? Go hit up KEB. you should be fine. |
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