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Cashing a cashier's check or money order in Seoul

 
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sojusucks



Joined: 31 May 2008

PostPosted: Mon Oct 10, 2011 8:09 am    Post subject: Cashing a cashier's check or money order in Seoul Reply with quote

A friend's birthday is coming up and his parents want to send him some money, (American dollars), as a gift. Where can he cash or deposit a money order or cashier's check made out in dollars? Thanks.
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thrylos



Joined: 10 Jun 2008

PostPosted: Mon Oct 10, 2011 3:15 pm    Post subject: Reply with quote

You can take any kind of US check (even personal) to your bank for deposit into your bank account. Chances are it will take quite some time to clear and for it to appear in your statement, minus all the FX fees and transaction costs. I think it's about 2-3 weeks, depending.
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Stan Rogers



Joined: 20 Aug 2010

PostPosted: Mon Oct 10, 2011 7:05 pm    Post subject: Reply with quote

Check how much the fees are. I tried to cash a $100 money order at a Korean bank a few years ago and the fee was so high that I just took it back home and cashed it there. They also said it would take 3-4 weeks to clear.
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