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The most xenophobic bank in Korea is........
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big_fella1



Joined: 08 Dec 2005

PostPosted: Fri Oct 17, 2014 3:56 am    Post subject: The most xenophobic bank in Korea is........ Reply with quote

Citibank Korea

1. No mortgages for permanent residents even though SGC 서울보증보험 lost a case before the National Human Rights Commission 4 years ago for trying the same nonsense;
2. No Check Cards for foreigners without paying ₩35,000 yet Koreans get them free;
3. Requiring both passports and salary slips to register as your international bank despite the FSS guidelines only requiring a passport unless transfers exceed USD$50k a year.

I could go on but all I can do is watch branch after branch closing wondering how long it is until this inept management sees Citibank Korea close with all the staff being unemployed.

Xenophobia doesn't only hurt those that are discriminated against but anyone that relies on discriminatory companies for their employment.
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CentralCali



Joined: 17 May 2007

PostPosted: Fri Oct 17, 2014 10:13 am    Post subject: Reply with quote

You left out:
  • Refuses to convert dollars to won without making an annotation in your passport.


Screw CitiBank.
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Steelrails



Joined: 12 Mar 2009
Location: Earth, Solar System

PostPosted: Fri Oct 17, 2014 3:24 pm    Post subject: Reply with quote

Quote:
I could go on but all I can do is watch branch after branch closing wondering how long it is until this inept management sees Citibank Korea close with all the staff being unemployed.


Clearly this is due to the policies you listed above and not due to the domestic market.
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Weigookin74



Joined: 26 Oct 2009

PostPosted: Fri Oct 17, 2014 7:22 pm    Post subject: Reply with quote

Strange considering it's an American bank. Guess you can switch to another bank and fire off a complaint to the American head office. Not that it will do anything, but still having several thousand westerners email these pricks will at least raise some red flags next to your promise never to bank with them back home in the future. But of course most of you won't do this; merely just complain about it on here. So, nothing changes.

As for me, I'm glad to have never opened an account with them then. Nonghyup looks like a workers paradise compared to this nonsense.
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Cave Dweller



Joined: 17 Aug 2014
Location: Seoul

PostPosted: Fri Oct 17, 2014 11:36 pm    Post subject: Reply with quote

Shinhan sleighted me in the past. They are very much case by case.
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northway



Joined: 05 Jul 2010

PostPosted: Sat Oct 18, 2014 8:31 am    Post subject: Reply with quote

Steelrails wrote:
Quote:
I could go on but all I can do is watch branch after branch closing wondering how long it is until this inept management sees Citibank Korea close with all the staff being unemployed.


Clearly this is due to the policies you listed above and not due to the domestic market.


Why can't they be one and the same? Inept policies towards foreigners are more than likely just a small part of a slate of inept policies. Competent companies avoid alienating customers. Stupid companies make things more difficult for their customers.
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hellofaniceguy



Joined: 10 Jan 2003
Location: On your computer screen!

PostPosted: Sat Oct 18, 2014 4:27 pm    Post subject: Reply with quote

Can't blame the bank...it's the people in charge making the rules...and you won't get any of them to admit to it...
I'd like to hear from those in charge stand up and say...yeah...it was my decision to do this, that, etc...and if you don't like it, though!
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Stan Rogers



Joined: 20 Aug 2010

PostPosted: Sat Oct 18, 2014 4:28 pm    Post subject: Reply with quote

I love KB bank. They gave me free money on 2 occasions. Both times I tried to be honest and told them about their mistake and each time they said "no no no it's ok, it's ok. Very Happy
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Weigookin74



Joined: 26 Oct 2009

PostPosted: Sun Oct 19, 2014 8:11 pm    Post subject: Reply with quote

They're all crazy. But a western based bank, you can at least email their head office, call their 1-800 number and be a pain in the butt. The squekky wheel gets the grease. Keep calling back repeatedly and being annoying. Eventually they'll do something to shut you up and stop you from calling. But, call and ask to speak to a supervisor right away and then to speak to their supervisor. Keep calling and keep complaining.

Anyhow, I'm just glad I kept my Canadian Visa's. Screw Korea and it's low limits and non revolving balances.
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KimchiNinja



Joined: 01 May 2012
Location: Gangnam

PostPosted: Sun Oct 19, 2014 8:36 pm    Post subject: Reply with quote

Bankers only care about risk and return. What's more likely is they perceive foreigners to be a bad bet, although we can't rule out xenophobia (but this could essentially be perception of risk).
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Chaparrastique



Joined: 01 Jan 2014

PostPosted: Sun Oct 19, 2014 8:45 pm    Post subject: Reply with quote

its hardly surprising. A load of foreigners maxed out their cards and did runners.


Do your domestic banks at home give equal benefits and loans to some somali immigrant on a work visa? Of course they don't. Banks are not charities, they are allowed to use discretion.
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big_fella1



Joined: 08 Dec 2005

PostPosted: Mon Oct 20, 2014 3:48 am    Post subject: Reply with quote

Chaparrastique wrote:
its hardly surprising. A load of foreigners maxed out their cards and did runners.


Do your domestic banks at home give equal benefits and loans to some somali immigrant on a work visa? Of course they don't. Banks are not charities, they are allowed to use discretion.


You start with a blatant lie as Korean institutions have never made credit freely available to non-Koreans.

Credit cards don't compare to mortgages i.e. secured debts that currently require a 30% cash deposit.

Then you add a racist comment that ignores the use of permanent resident in the first complaint. No business should be allowed to use racist or xenophobic discretion particularly businesses that are licenced by and protected by the government. Further when someone is granted permanent residency they are being granted a right to make their home in that country. How can you make a home when you are unable to buy a house?

The problem is xenophobia, inept management, poor staff training and the arrogance of people that believe they cannot be fired. How did that work out for HSBC's Korean retail staff?
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KimchiNinja



Joined: 01 May 2012
Location: Gangnam

PostPosted: Mon Oct 20, 2014 3:55 am    Post subject: Reply with quote

big_fella1 wrote:
The problem is xenophobia...


Says a forum full of xenophobes.

Foreigners are obviously risky, and there's no upside for taking that risk. They have plenty of Koreans they can loan to instead.
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big_fella1



Joined: 08 Dec 2005

PostPosted: Mon Oct 20, 2014 4:08 am    Post subject: Reply with quote

KimchiNinja wrote:
big_fella1 wrote:
The problem is xenophobia...


Says a forum full of xenophobes.

Foreigners are obviously risky, and there's no upside for taking that risk. They have plenty of Koreans they can loan to instead.


The Financial Supervisory Service (FSS) is trying to limit loans to Koreans due to mounting household debt which means xenophobic lending policies cut off one of the few areas of growth.

KEB will do a mortgage for an E2. I am talking about Citibank Korea being xenophobic. I find Korean owned banks on the whole to be excellent with some exceptions. Which makes Citibank's xenophobia harder to fathom.

My annoyance stems from the fact that I bank with Citibank in Australia and banking with Citibank in Korea would make things quicker and easier. Citibank Australia provides excellent service with just 14 branches nationally something Citibank Korea staff should keep in mind.
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Steelrails



Joined: 12 Mar 2009
Location: Earth, Solar System

PostPosted: Mon Oct 20, 2014 5:21 am    Post subject: Reply with quote

While there is something there, I'm not sure xenophobia is the correct term. 'Exploitative' or 'Woefully inept' I think is what it is.
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