Korean Job Discussion Forums

[mdsb87]

Hi,

Just wondering about sending money home to an Irish bank account.

Do I have to get Won exchanged into Euro and then transferred or can I just send won and it will be converted by my bank automatically. I bank with AIB in Ireland and I am fairly sure that they don't carry South Korean Won for Foreign exchange at all so I am curious about this.

Also how much does it cost in Won to do a transfer of funds to an Irish account?

Thanks

[sshemma]

Hey,

Its pretty straightforward, first ring your branch at home and get your IBAN number, its twenty something digits long and you need it for international transfers, the just go to your bank here with your passport and ARC and they should do it. Sometimes the smaller branches wont process it and you'll have to go to a bigger one, but they seems to change this rule from month to month, with my bank anyway.

Its costs about 18000 won to tranfer and then AIB take about another 20euro, which bugs me.

Anyway thats it! It takes 2 or 3 days to clear into your Irish bank account.

[mdsb87]

Thanks for that. Is there any way to avoid this 20� AIB charge. It's fairly bloody steep in fairness. Do you have a graduate account or just a normal account. How much would registered post of a bank draft for euro cost ya ?

[candyteacher]

Im actually just off the phone with AIB. AIB don't charge any money its an intermidary bank somewhere in Europe that takes the 20euro but you can pay that at the bank in Korea. Its very simple. You need your IBAN number, IBIK number (although not certain if its actually needed), your account number, address of the bank and account name.

You'll fill out a form in the bank, they take a copy of your passport/ARC, and you can either hand them cash or have them take it from your account. After you do it once keep the reciept and its quicker and easier next time. When I send money its usually in my account over night or the within the next two days.

Im with NongHyup bank here.

[mdsb87]

Thanks for that too. Glad to hear it's fairly simple. How much could one save from a salary of 2.1 million if that person is not a good at budgeting and wants to enjoy themselves ?

I'm aiming to send home about 852,000 Won a month - is that realistic ? Not living in Seoul but will want to do some travelling around Korea on weekends etc.

Also does the money enter your account as euro or Won ?

Thanks a million again !

[SinclairLondon]

On behalf of Ireland, thank you.

[livinginkorea]

[the ireland]

[mdsb87]