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zasoukup
Joined: 18 Mar 2011
Location: Bucheon
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 Posted: Mon Jun 10, 2013 4:50 pm Post subject: Korean Bank Card/Overseas ATMs |
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Hey everyone. I'm leaving Korea for a week to go to Hawaii and I would like to gather any experience you might have on currency exchange.
Should I either...
A) Exchange my KRW for USD here in Korea before I leave, or
B) Wait until I'm in the US and make a withdrawal from an ATM.
My bank here in Korea is Shinhan; I have a Mastercard check card. I'm leaning towards option B, as I wouldn't expect there to be any issue making a withdrawal from an overseas ATM, and I hear the rate is often better than what you get over the counter at the bank.
Anyone have any insight to share?
Thanks |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Mon Jun 10, 2013 4:55 pm Post subject: Re: Korean Bank Card/Overseas ATMs |
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| zasoukup wrote: |
Hey everyone. I'm leaving Korea for a week to go to Hawaii and I would like to gather any experience you might have on currency exchange.
Should I either...
A) Exchange my KRW for USD here in Korea before I leave, or
B) Wait until I'm in the US and make a withdrawal from an ATM.
My bank here in Korea is Shinhan; I have a Mastercard check card. I'm leaning towards option B, as I wouldn't expect there to be any issue making a withdrawal from an overseas ATM, and I hear the rate is often better than what you get over the counter at the bank.
Anyone have any insight to share?
Thanks |
IF your card has been used abroad before then you can likely depend on it working abroad again.
If you have NOT tested your card abroad (regardless of what the bank tells you here) then DO NOT depend on it as your only source of funds.
Do not take won out of Korea. Buy dollars here before you go if you want to take cash. A few Benjamin's don't take much space in your pocket.
The difference between the cash rate and the card rate is about 1% ($10/1000 more to buy cash) but the overseas ATM rates vary from $5 and up (per transaction) for cash withdrawals at an ATM.
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zasoukup
Joined: 18 Mar 2011
Location: Bucheon
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| Posted: Mon Jun 10, 2013 4:59 pm Post subject: |
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Awesome. Thanks for quick reply ttompatz.
Cheers! |
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War Eagle
Joined: 15 Feb 2009
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| Posted: Mon Jun 10, 2013 7:40 pm Post subject: |
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Open a KEB account really fast and get their global check card. That's what it says on the front "global check card". It is free and works overseas.
I wouldn't take my whole load with me from Korea. Shit happens, and I'm sure you wouldn't want to lose that much moola. I would bring a few hundered with me, then withdraw from ATMs in Hawaii. Each ATM transaction will cost you a few dollars, so take out a few hundered at a time. Think of the ATM fee as a safety net in case something were to happen. |
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Stan Rogers
Joined: 20 Aug 2010
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| Posted: Mon Jun 10, 2013 10:22 pm Post subject: |
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| Cash is King. |
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