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GrowlingMadScientist
Joined: 16 Jun 2007
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 Posted: Sun Jul 03, 2016 2:44 am Post subject: Maximum ATM withdrawal limit per transaction? |
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How much money will a Korean ATM give me in one go-- anyone know?
Also, do what sort of fees do local banks typically charge for a withdrawal with a foreign bank card?
Answers much appreciated. |
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PRagic
Joined: 24 Feb 2006
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| Posted: Mon Jul 04, 2016 8:47 pm Post subject: |
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Some ATMs take foreign cards, some don't. Some say they do, but they won't process certain cards.
Best bet is to find one, plunk your card down, and see what the max is. Haven't used one in a while, and I've never taken out the max, but I think there was a 300,000 won button. |
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PRagic
Joined: 24 Feb 2006
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| Posted: Mon Jul 04, 2016 8:48 pm Post subject: |
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| But be aware that if you start maxing daily withdrawls, or take out the max on more than one machine or more than once a day, your home bank might suspend the card until they get in touch with you. Looks fishy on their end. |
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GrowlingMadScientist
Joined: 16 Jun 2007
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| Posted: Tue Jul 05, 2016 3:38 am Post subject: |
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| Thanks for the information! |
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young_clinton
Joined: 09 Sep 2009
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| Posted: Tue Jul 05, 2016 6:02 pm Post subject: |
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| When I was there the ATM's shut down at 12 AM midnight until like around 6:00 AM. It was an unpleasant surprise for many a teacher in Korea. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sat Jul 09, 2016 7:59 pm Post subject: Re: Maximum ATM withdrawal limit per transaction? |
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| GrowlingMadScientist wrote: |
How much money will a Korean ATM give me in one go-- anyone know?
Also, do what sort of fees do local banks typically charge for a withdrawal with a foreign bank card?
Answers much appreciated. |
ATMs can spit out up to 1 million won per transaction.
Withdrawls from YOUR card will depend on the single transaction and daily transaction limits imposed by YOUR bank.
My Woori card has a 2 million per transaction limit (even though the machines only give up 1 million at a time) and a daily limit of 50 million won.
My Canadian bank on the other hand had a $500 daily limit (typical for most personal accounts).
If you do an international withdrawal there will be 2 sets of fees charged to you. The local fee will be shown on the screen and ask your approval before you complete the transaction. It will vary from bank to bank.
There will also be a fee applied at your bank for international usage of your card. This fee will depend on the fee structure at your bank abroad. My foreign bank permitted no-fee services foreign use as part of the monthly fee package that I paid. I preferred this to the other option of service per use fees.
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