Korean Job Discussion Forums

mervanm · Joined: 23 May 2010 Location: USA

What is the best bank to bank with in Korea? Is their a bank that is national so that if I were to leave my branch's area I would still be able to withdraw money without a penalty? If not, what is the most secure and reputable bank in Seoul and/or other populated areas?

balzor · Joined: 14 Feb 2009

I'm pretty happy with Shinhan. I do get a 500완 fee for transactions, they are English friendly with the branch in the Seoul Global Center. I have never had to dispute any charges. Only thing is they won't give me a credit card to use out of Korea, but I guess I haven't really begged for it.

oskinny1 · Joined: 10 Nov 2006 Location: Right behind you!

KEB. They have great online banking, an Ex-Pat account that is in English and will give you an international ATM (not credit) card.

mervanm · Joined: 23 May 2010 Location: USA

Thank you very much for the info. I guess I will just have to use cash, but that could be easier too. Thanks again.

oskinny1 · Joined: 10 Nov 2006 Location: Right behind you!

djsmnc · Joined: 20 Jan 2003 Location: Dave's ESL Cafe

The best bank to bank with and bank on is the bank that you bank the most bank off of.

waynehead · Joined: 18 Apr 2006 Location: Jongno

Although I've never banked with them, I think the general consensus among waygookins is KEB is the best for us.

pjmancktelow · Joined: 07 Oct 2007 Location: Seoul

for a non korean. KEB. have them as you main bank and then open another account with the bank closest to your workplace with which to pay bills from. KEB is excellent in my opinion. especially the online banking.

Darkeru · Joined: 21 Apr 2010 Location: England

I'm guessing it'd not possible to pay bills online?

oskinny1 · Joined: 10 Nov 2006 Location: Right behind you!

shostahoosier · Joined: 14 Apr 2009

mervanm · Joined: 23 May 2010 Location: USA

Thank you for all this advice. I think the consensus is KEB, which I did not know prior to posting this thread. Thanks a lot for the info.
Cheers

cert43 · Joined: 17 Jun 2010

You can wire ( free) to USA through Paypal. No need to even go

into the bank and deal with long lines.

1.Set up paypal account.

2.Link your Korean account to paypal account ( ask your bank for accounting/routing number or find them on your checks).This would be
best if done through Shinan bank.

3. Transfer Korean funds to USA via friend/family member e-mail or mobile phone. ( I-phone or blackberry). Them link your Usa account/debit visa or mastercard and put the funds in ( you can convert into any currency,so you won't loose money in the exchange). You may even gain if you can somehow reconvert back currency.

-I think sending via e-mail is the easiest as there is really no International Transfer options (yet) for USA.
If you are e-mailing to yourself ,DO NOT use your main contact adress/mobile number ( it won't let you send if it reconizes the e-mail/mobile adress as your own).

- It is quick, simple and great. Very Happy

misher · Joined: 14 Oct 2008

I'm with Oskinny on this one. I use the KEB expat account with online banking and it is pretty good.

lifeinkorea · Joined: 24 Jan 2009 Location: somewhere in China

I have been with Nonghyup, KB, Shinhan, and KEB

1. Shinhan is complete crap, I wouldn't recommend them to anyone.
2. Nonghyup is good for storing your money and leaving it there.
3. KB is good if you live in the city, but you won't find many out in the country.
4. KEB is good when you need to do banking between countries. Don't wait until the end to get a KEB account if you plan on keeping your money in Korea.