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Transfering money between Korean bank accounts

 
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OliverF



Joined: 23 Sep 2009

PostPosted: Mon Jan 17, 2011 12:11 am    Post subject: Transfering money between Korean bank accounts Reply with quote

Someone on the other side of the country needs to send some money my way. I have an IBK bank account and am wondering what bank information I need to give them so they can transfer the money to me.

Thanks in advance.
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kumoh



Joined: 05 Dec 2007

PostPosted: Mon Jan 17, 2011 12:42 am    Post subject: Reply with quote

U need to know info: (better go to bank and ask)



Beneficiary bank:
NATIONAL AGRICULTURAL COOPERATIVE FEDERATION, SEOUL KOREA (SWIFT CODE: NACFKRSEXXX)
Beneficiary's name:
Beneficiary's account no:
Additional details: tel:
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tanklor1



Joined: 13 Jun 2006

PostPosted: Mon Jan 17, 2011 1:54 am    Post subject: Reply with quote

1. Have a bank account
2. Get the receiver's bank account number.
3. Go to bank machine.
4. Select English.
5. Select Transfer
6. Select the receiver's bank.
7. Input their bank account number.
8. Input amount.
9. Input your PIN.
10. Get recite.
11. Leave bank machine.
12. Eat kimbob at local kimbob place.

i.e. give them your bank's name and account number.
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Jake_Kim



Joined: 27 Aug 2005
Location: Seoul

PostPosted: Mon Jan 17, 2011 3:14 am    Post subject: Re: Transfering money between Korean bank accounts Reply with quote

OliverF wrote:
Someone on the other side of the country needs to send some money my way. I have an IBK bank account and am wondering what bank information I need to give them so they can transfer the money to me.

Thanks in advance.


You're on the receiving end, therefore all you need to tell them is the name of your bank and the account number, and the precise name of account holder. There is no separate sort code in Korean banking system - actually it is embedded in one's bank account number.
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Ruthdes



Joined: 16 Oct 2008
Location: Seoul

PostPosted: Mon Jan 17, 2011 4:44 am    Post subject: Reply with quote

You don't need to give the precise name of the account holder. It is just a double-check that comes up after your friend types in your account number to make sure that he/she put in the account number correctly. In my experience, the name that comes up on the screen actually isn't the precise name, but it's usually close enough to tell it's the right person. For example, my ex-roommate's name came up as her middle and last names, even though she'd opened the account with her real full name. Apparently Korean bank software has trouble with foreign names.
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Jake_Kim



Joined: 27 Aug 2005
Location: Seoul

PostPosted: Mon Jan 17, 2011 5:35 am    Post subject: Reply with quote

Ruthdes wrote:
You don't need to give the precise name of the account holder. It is just a double-check that comes up after your friend types in your account number to make sure that he/she put in the account number correctly. In my experience, the name that comes up on the screen actually isn't the precise name, but it's usually close enough to tell it's the right person. For example, my ex-roommate's name came up as her middle and last names, even though she'd opened the account with her real full name. Apparently Korean bank software has trouble with foreign names.


True, but I mentioned it just in case the sender needs to handwrite a transfer slip at his/her bank.
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OliverF



Joined: 23 Sep 2009

PostPosted: Mon Jan 17, 2011 8:09 am    Post subject: Reply with quote

Thanks, information sent. Always glad to have some help from Dave's.
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