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kburg385
Joined: 27 Jun 2010
Location: Bundang South Korea
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 Posted: Wed Feb 23, 2011 2:10 am Post subject: Exchanging Money/Transferring Money after contract ends |
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I just finished my contract and will be heading back home next week. I received my last two paychecks, plus severance, in cash.
My question is, should I bring the WON back to America and exchange it at a bank there? Or exchange the WON for dollars at Incheon before I get on the plane? Or a third option, deposit the money in my Korean bank account before I close it tomorrow and transfer the entire sum home via wire transfer? (I just know that when I transfer home it costs something ridiculous)
Any suggestions would be great! Obviously I would love to not carry a crap ton of cash with me while traveling home, whether it be in won or dollars, but i want to get the most of the money.
Thanks! |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Wed Feb 23, 2011 2:16 am Post subject: Re: Exchanging Money/Transferring Money after contract ends |
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| kburg385 wrote: |
I just finished my contract and will be heading back home next week. I received my last two paychecks, plus severance, in cash.
My question is, should I bring the WON back to America and exchange it at a bank there? Or exchange the WON for dollars at Incheon before I get on the plane? Or a third option, deposit the money in my Korean bank account before I close it tomorrow and transfer the entire sum home via wire transfer? (I just know that when I transfer home it costs something ridiculous)
Any suggestions would be great! Obviously I would love to not carry a crap ton of cash with me while traveling home, whether it be in won or dollars, but i want to get the most of the money.
Thanks! |
DO NOT TAKE WON OUT OF KOREA - It has about the same value as toilet paper when you do.
Either exchange it for USD at the bank before you close your account (best rate), change at ICN (about 5-15 won per dollar worse than the bank) or wire it home and bite the bullet for $40 and have the peace of mind that you don't have to worry about a wad of Ben-Franklins in your pocket.
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kburg385
Joined: 27 Jun 2010
Location: Bundang South Korea
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| Posted: Wed Feb 23, 2011 3:47 am Post subject: |
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Thanks for the advice! Perhaps I'll exchange half of it at the bank here for US currency, and transfer the remaining home.
Cheers! |
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