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nuernbergw
Joined: 25 Jul 2010
Location: Washington State
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 Posted: Sun Aug 22, 2010 7:48 pm Post subject: Banking |
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Hello all,
I'm heading to South Korea soon to teach for a year and need to know how banking is done... At home I work with Bank of America. Any suggestions? |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sun Aug 22, 2010 9:00 pm Post subject: Re: Banking |
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| nuernbergw wrote: |
Hello all,
I'm heading to South Korea soon to teach for a year and need to know how banking is done... At home I work with Bank of America. Any suggestions? |
There are no banks in Korea. Everyone uses tin cans in the back yard or plastic boxes stuffed into their bed mattresses to keep their money in. Transactions are done with cash and you will be expected to carry large wads of currency in your pocket.
Seriously:
Most banking is done through banks.
Your salary will be direct deposited into your account.
Most people have ATM cards and/or credit cards along with a magnetically tagged bank passbook (that can also be used in many ATM machines) to access their money.
Service fees are low.
There are no joint accounts nor are there checking accounts. People pay for things with cash, ATM card, C/C or direct bank transfer (from an ATM machine).
Suggestions: open a bank account, get an ATM card and don't fret. Banks here are safer than they are in the US.
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Skippy
Joined: 18 Jan 2003
Location: Daejeon
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| Posted: Mon Aug 23, 2010 1:15 am Post subject: |
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| Wow Tompattz got sarcastic. What wrong Tom? |
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eirrehs
Joined: 04 Sep 2007
Location: korea
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| Posted: Mon Aug 23, 2010 2:06 pm Post subject: |
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| No joint accounts?? Even if you're married to a Korean? |
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kardisa
Joined: 26 Jun 2009
Location: Masan
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| Posted: Mon Aug 23, 2010 2:45 pm Post subject: |
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| eirrehs wrote: |
| No joint accounts?? Even if you're married to a Korean? |
Maybe I'm just overly cynical, but no joint accounts strikes me as a great idea. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Mon Aug 23, 2010 5:19 pm Post subject: |
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| eirrehs wrote: |
| No joint accounts?? Even if you're married to a Korean? |
Don't need one so they never made one (as a category).
There are no personal checks and your partner can access your account with just your stamp and bankbook.
You're not in Kansas anymore Toto.
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Ralphie
Joined: 24 Mar 2010
Location: Beijing, PRC
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| Posted: Mon Aug 23, 2010 5:27 pm Post subject: |
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| Skippy wrote: |
| Wow Tompattz got sarcastic. What wrong Tom? |
I thought he was funny  |
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Skippy
Joined: 18 Jan 2003
Location: Daejeon
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| Posted: Mon Aug 23, 2010 6:08 pm Post subject: |
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| Ralphie wrote: |
| Skippy wrote: |
| Wow Tompattz got sarcastic. What wrong Tom? |
I thought he was funny |
He is and is he usually so helpful and patient! I noticed in the last day he has got a touch snippy. I think he is getting run down by the idjots.
Good Luck Tom |
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