Korean Job Discussion Forums

[Escomike]

Does anyone know if you can keep your Korean bank account after leaving Korea? It's really a pension question. (and I would like to find a way to try to not report $10,000 USD, because my pension is going to exceed that.)

[Rockhard]

[ttompatz]

[ivyleaguer]

I have three bank accounts in Korea. When I left the country a few years ago I had the problem of woori canceling my card bc of suspicious activity. And they wouldn't reactivate it unless I come to Korea and go to a branch. Obviously not convenient. I ended up transferring the money to a Korean and then my friend wires money to my us bank. But this is in no way a good option.

I'll probably leave the country again soon. You have to designate one bank as your primary international bank. I use keb and citibank. I don't have any income put in Citibank bc I think I'd have to pay us taxes on it. But before I leave I'll renew all my cards before leaving the country.

The best thing is to set up keb to do wire transfers via intenet. It takes a a few days to set up and you want to make sure all numbers are correct bc we are talking about sending money and in the us money laundering is real so there are fees on this kind if thing.

I would love to drain all my Korean banks but it's not practical. Transfer too much you pay tax and taking pikes if cash through airport has obvious problems. I don't trust Korean banks when I leave so I'm extremely nervous but the Internet wire transfer through keb worked for me.

[jcd]

I left for several month and came back, my bank account was still active and I used it. I left 5000 won in it. Kookmin

[Big Mac]

I've been gone for 4 years and my KEB account is still active, though I don't have money in it anymore.

When I left Korea I kept all my savings in my account and went to Australia for teacher's college. I wired money to myself over the internet as I needed it. I was hoping that the exchange rate would improve over time, but it never did. I never had a problem with wiring the money. Also, it was much more convenient to get the National Pension Service to deposit my pension refund into my Korean bank account.

[Escomike]

Thanks everyone, I should be more clear, It seems like they will not pay a lump cash sum since it will be over $10,000. It will have to be wired to a bank account. I am trying to find a way to avoid wiring over that amount to the US in one transaction.