Korean Job Discussion Forums

[Lightfxphoenix]

I will soon have to start paying back my student loans while in Korea. Does anyone have any good advice on the easiest way to do this? My plan right now is to setup an auto-bill pay on my bank account, then transfer funds from Korea to it each month to cover the loans. Is this a good way to go about it? I am not yet in Korea, so I am unsure of their banking system. Thanks for the help.

[warmachinenkorea]

This is exactly what my wife and I do.

[SMOE NSET]

Get ahead a few months and then start sending back money every few months instead. You will save a lot of money from the transfer fees (typically $30-40 each transfer depending on your banks).

I would suggest you open a KEB bank account when you arrive and then also set up an online account.

Once that is set up you can give them your bank information from back home (bank routing number, bank address, your account number) and you will be able to transfer money home online. The banks here close at 4pm and are not open on the weekends (except for a few exceptions, like banks in Itaewon supposedly) so it is a hassle to send money home if you don't have an online account.

[Lightfxphoenix]

Awesome, I appreciate the help.

[rhizome]

I was looking for the same information and found this wiki post - http://wiki.galbijim.com/Banking

I can't say whether the information there is correct (I'm in the same boat as you, I think), but at the very least, the translations for different kinds of accounts might be helpful.

[DaHu]

[Adventurer]