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Daithi
Joined: 19 Jul 2010
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 Posted: Sun Aug 28, 2011 6:08 pm Post subject: Banking issue |
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Anyone know whether there is a bank in Seoul that will give you an atm card within a few days of signing up. Signed up to Shinan bank with my co-teacher and they said they will send me a card after 3 months of my initial transaction, so basically in 4 months time.
I need a bank card asap cos i will not be able to get to the banks during the working week. Any advice or help would be appreciated? Thanks!!! |
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nathanrutledge
Joined: 01 May 2008
Location: Marakesh
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| Posted: Sun Aug 28, 2011 6:32 pm Post subject: |
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| Any other bank. |
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Caffeinated
Joined: 11 Feb 2010
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| Posted: Sun Aug 28, 2011 7:47 pm Post subject: |
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| I got my KEB Visa debit card in the mail a week after signing up, and they handed me a cash card for a second account before I left. |
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akcrono
Joined: 11 Mar 2010
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| Posted: Sun Aug 28, 2011 7:58 pm Post subject: |
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| nathanrutledge wrote: |
| Any other bank. |
Yup |
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weso1
Joined: 26 Aug 2010
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| Posted: Sun Aug 28, 2011 8:01 pm Post subject: |
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| Just try another Shinhan location. I signed up at Shinhan and the same day they gave me a Visa debt card. It just depends on who is taking care of you that day. |
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nathanrutledge
Joined: 01 May 2008
Location: Marakesh
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| Posted: Sun Aug 28, 2011 8:05 pm Post subject: |
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Just out of curiosity, who here has opened an account in say, the past month, and had to wait for a card to be mailed to them?
I've opened two accounts, a nonghyup and a keb, and both times they printed the cards on the spot for me. But i've read a couple of posts lately complaining about having to wait. Maybe there is a new law that just came into effect or something?
So, anyone RECENTLY had to wait for a card, besides the OP, and at another bank besides shinhan? |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sun Aug 28, 2011 8:20 pm Post subject: |
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Under the bank act changes (2007) that came into effect in 2008 they are NOT supposed to allow ATM or internet access to any account opened without an ARC until the account is 90 days old or until the ARC is issued (whichever comes first).
There HAVE been instances where this has been ignored (probably due to negligence or lack of knowledge on the part of the bank clerk) but for newbies it is something to be aware of.
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goreality
Joined: 09 Jul 2009
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| Posted: Sun Aug 28, 2011 9:06 pm Post subject: |
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| I've had accounts and cards given on the spot, but I've always used my ARC. Maybe the mailing business is because they are out of new cards at the branch or they lack the machine. |
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big_fella1
Joined: 08 Dec 2005
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| Posted: Mon Aug 29, 2011 2:31 am Post subject: |
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There is no law preventing foreigners from being given debit cards, internet access or atm cards, unless they are suspicious. Refusing service to suspicious persons is an obligation of any bank regardless of race.
Providing you have your passport and ARC, I suggest you call Shinhan English customer call centre at 1577-8380 whilst with the teller refusing to issue the card and have them educated correctly.
Good luck. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Mon Aug 29, 2011 6:31 am Post subject: |
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| big_fella1 wrote: |
There is no law preventing foreigners from being given debit cards, internet access or atm cards, unless they are suspicious. Refusing service to suspicious persons is an obligation of any bank regardless of race.
Providing you have your passport and ARC, I suggest you call Shinhan English customer call centre at 1577-8380 whilst with the teller refusing to issue the card and have them educated correctly.
Good luck. |
There is that CAVEAT, "Providing you have your passport and ARC".
Yes, for those who comment without reading:
IF you have your ARC you are entitled to ATM and internet service.
IF you do NOT have your ARC the bank is obligated to restrict your internet and ATM privileges for the first 90 days.
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big_fella1
Joined: 08 Dec 2005
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| Posted: Mon Aug 29, 2011 3:00 pm Post subject: |
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| ttompatz wrote: |
| big_fella1 wrote: |
There is no law preventing foreigners from being given debit cards, internet access or atm cards, unless they are suspicious. Refusing service to suspicious persons is an obligation of any bank regardless of race.
Providing you have your passport and ARC, I suggest you call Shinhan English customer call centre at 1577-8380 whilst with the teller refusing to issue the card and have them educated correctly.
Good luck. |
There is that CAVEAT, "Providing you have your passport and ARC".
Yes, for those who comment without reading:
IF you have your ARC you are entitled to ATM and internet service.
IF you do NOT have your ARC the bank is obligated to restrict your internet and ATM privileges for the first 90 days.
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Yes the OP said he only wanted an ATM card, I read that.
There is no law on this there are many messy regulations that even bank staff I have spoken too have difficulty comprehending.
Some believe that something is a law because it appears in the Chosun Ilbo, that is not the way Korean democracy works.
I have followed this issue since 2007 when it first reared it's ugly head. It seems to be based on a paper published by the Korea Federation of Banks in 2007 for new arrivals to Korea to prevent �voice phishing� by foreigners. It was intended for foreign people without jobs and housing who had been in Korea for less than 3 months. At the time the Chosun Ilbo printed that this requirement was law http://english.chosun.com/site/data/html_dir/2007/08/10/2007081061012.html
, but when I contacted the Korea Federation of Banks in 2007 they told me that it was a guideline issued by them.
Part of the problem is that banking by foreigners is regulated by the law, the Bank of Korea (BOK), the Ministry of strategy and Finance (MSF), The Financial Supervisory Commission(FSC), and the The Financial Supervisory Service(FSS). There have been many regulations made by these bodies, which aren't law.
The requirement to produce a passport is allegedly based on the insecurity of the ARC and the inability to check the number is valid. Well now the new secure ARC is here and the number can be checked through the telecommunications act database like always, the requirement to produce a passport should be removed, unless you are conducting international transactions. |
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