Korean Job Discussion Forums

[goodfella]

how much are your bank fees sending back home to canada?? im looking for a cheaper way. currently im paying 8,000 (internet) in korea and 20$CDN back home. thats still not bad, but if you send every month or more, it adds up. now aside from any special circumstances from your canadian bank, what are you guys paying? im talking basic normal rates, and no special deals with your bank. ive heard about people making deals with their bank, but all i know is mine wouldnt give my any special treatment. so therefore, im trying to find a cheaper method.


any advice is appreciated! thx!

[Grotto]

I go by remission(money order)

cost is about 10,000 won I get it in US funds and airmail it back home(airmail costs 580 won)

Takes about 10 days to get to my folks house and they deposit into my account in Canada

[Metsuke]

Is there not a way to wire your money between two bank accounts? This is something I'm trying to figure out as well. Do any Korean banks have online english support for your money management?

T

[Newt14]

We pay 13,000 to wire the money to Canada here and the Royal Bank usually take $10, I think. If you send less than $1000 cda, they don't charge you a fee.

Korean banks differ on there charges Woori 20,000, CHB 40,000(or close) and KB 13,000. Woori uses BMO as a clearing house and they use to take $10 sometimes for themselves. The amount of time also differs with each bank here. Woori seems to be the quickest - 36 hours. We use KB because its cheaper a couple of days, longer to visa.

The information you need to transfer is your bank account (including transit number and bank number, bank address home address of person sending it too) best to take a cheque for the account. also, the name on the account., as for me the account is in my mother's name for income tax purposes in Canada.

Before you do it the first time it would be a good to call your bank in Canada and ask them what information you need to include for their end so that the money actually gets there.

Most banks have someone who speaks enough English to help you. Keep the paper they give you and show it to them the next time, it will take less time to do it after that. My husband send two payments a month one to our Royal band account and one to our Royal bank visa and he keep the current receipt for the transfer After the first time at the same bank he didn't need to take his passport and he usually does it with the same banker.

Hope this helps, if am I little off on things it's beacuse i get my information 2nd hand and i have need actually done it myself. The benefits of married.