Korean Job Discussion Forums

[decolyon]

I want to hear from people that have a Korean Citibank account. How do you like it? How's their online banking? What are their fees like? How about English customer service?

I've been with Shinhan for about two years (traded up after a few years with KB.) I've actually been pretty happy with Shinhan. Their customer service phone line is great. They gave me an international debt card that I have used all over the place, which is a big plus. But their transfer fees are ridiculous kinds of high and their savings account rates are crap. However, their online system is easy and I've had little problems with it.

I'm thinking of switching to Citi in the states and having a Korean Citi would greatly simplify things.

Thanks in advance.

[NSMatt]

The two are not related at all. They are owned by the same company but the national divisions are entirely separate. Go with KEB. I paid 10,000 won to transfer 8700 CDN.

[Jake_Kim]

Citibank offers Citi Global Transfer which they say incurs almost no money wire fee between Citibank accounts as opposed to most Korean banks with (virtually) no overseas operation.
Bu then, there are FX rates to consider, especially when you're wiring a large amount of fund, and Citi doesn't necessarily offer the best rate for customers, which then might cancel out any transaction fee saved by their Global Transfer scheme.

[decolyon]

Jake, do you have any info on their online service? Online banking is my bread and butter and if it's not good enough, then any other benefits are for not.

[da_moler]

Citibank Korea's online banking service is fine. Easy to pay giros, and make transfers, including to overseas accounts. As a previous poster stated, transfers to Citi accounts in most overseas countries, including the US, are free and, I believe, instant.

English customer service is excellent, especially if you visit one of the global centers, each of which has a member of staff who deals with non-Korean speakers. I haven't noticed any contempt for foreigners at my branch (quite the opposite in fact), unlike at Shinhan, which is why I moved to Citibank in the first place (a whole 'nother story!).

Also, the standard Citi checking account pays 3.3% interest, which is no doubt far more than you're getting in your Shinhan checking account. You will also get an international check card that gives you up to 10% off lunch at every restaurant in Korea. If you want a credit card, that is also no problem (again, unlike at Shinhan). Just like any other customer of the bank, you can choose from the large selection of Citicards, including the Reward card which offers substantial discounts on convenience stores, cell phone bills, transportation...

In short, I'd say that Citibank should be the No.1 choice for all foreigners in Korea.

[SCAshley]

So, for example, my school wants me to open a Citi Bank account for them to refund my deposit into because apparently they "don't know how" to wire it to a US bank. If I open an account and they put the money in there, I can transfer that money to a Citi Bank account at home in the US (would I have to set up another account at home? 1 Korean, 1 US, even though they are the same bank?) and it won't cost me anything? I think they're just trying to get out of paying the wiring fees...first they told me they would put it into my Korean account, or could deposit it into my US account if I pay the fees. I work PS so they are supposed to pay any fees associated with the transfer. Now they're bringing up this Citi Bank crap. Ugh.