Korean Job Discussion Forums

meagicano · Joined: 02 Jan 2005

Hey! I'm headed for Korea in 18 days, and am trying to figure out things.

Right now, how to transport my money is a big one. I'm not teaching, so I'm relying on savings. So far, the plan is to bring around $200 US in cash, and maybe $500 US in AMEX travellers cheques.

What I'm wondering, though, is the ease in which one can access money from a Scotiabank account. 4 digit pin numbers, etc. I'll be living at Yonsei University in Sinchon, so a bank in that neighbourhood would be ideal. Does anyone here have any experience with that? I plan to replace my card before leaving, just to make sure I don't have any problems with my magnetic strip running out, etc.

If that isn't possible, how hard is it to get a cash advance off a Visa card?

Does this sound like a good way to deal with finances? Or should I be bringing more/less cash/travellers cheques?

Thanks!

Blind Willie · Joined: 05 May 2004

peppermint · Posted: Wed Jan 26, 2005 2:37 pm Post subject:

The ATMs in the subway stations and some convenience stores- the ones that say "nice cashing" on them will usually accept foreign cards.

Swiss James · Joined: 26 Nov 2003 Location: Shanghai

You can use a VISA card at lots of ATMs, the ones in convenience stores, subway stations and some banks.

Charges are usually about 2 quid- 2.50- but you can take up to 500,000 won out at a time (250poond).

Bulsajo · Joined: 16 Jan 2003

There's a Scotia bank branch right beside Namdaemun. They could probably help you tranfer funds, get a debit card that works in Korea, etc.

tzechuk · Joined: 20 Dec 2004

If your card has *maestro* or *cirrus* on, then you can use it over here without any problem whatsoever - all atms accept them. Else you can easily use a credit card providing you can get cash advance from it.

dogbert · Joined: 29 Jan 2003 Location: Killbox 90210

I hate to be the naysayer, but there are ATM's here that have the Cirrus logo, yet don't accept Cirrus-logoed cards of overseas banks.

peppermint · Posted: Wed Jan 26, 2005 10:25 pm Post subject:

The ATMs I'm describing have cirrus logos on them, and yeah- they do seem to have trouble with cards from American banks, according to friends. I've used my Bank of Montreal Card at them a ton ot times though.

tzechuk · Joined: 20 Dec 2004

hmm.. I haven't had any problems with my HSBC card issued in the UK...

dogbert · Joined: 29 Jan 2003 Location: Killbox 90210

It's hit and miss and like all else here....YMMV Very Happy

meagicano · Joined: 02 Jan 2005

Just to drag this to the top again - I cannot access the Scotiabank website (www.scotiabank.ca, www.scotiabank.com, www.scotiaonline.scotiabank.com). Is this a normal thing?! Does anyone here bank with Scotia?

peppermint · Posted: Wed Feb 23, 2005 1:27 pm Post subject:

I bank with Bank of Montreal at home, but try this link for Scotia bank

http://www.scotiabank.com/cda/index/0,,LIDen_SID19,00.html . If you're still running into trouble, it's probably the security settings on the computer.

redd · Joined: 08 Nov 2004

I haven't had any problems accessing scotiabank's website - i just tried it and the link given by peppermint came up.

For the record, I've used my scotiabank card here twice. Just look for the English button so you can figure out how to get your money - I had to try a couple of ATM's once before finding one that would take a foreign card, but generally it wasn't a problem. Keep in mind that you get dinged $5 for accessing an international ATM - last week it cost me $130 to get 100,000W (which I've come to think of as $100). It might be cheaper (I really have no idea, but you can look into it) to get a cash advance on your credit card and then just transfer the money right away on the internet to avoid the interest charges.

the eye · Joined: 29 Jan 2004

why bother changing you cash money twice? ie. Can->US->WON..??

if you bring cash, just bring canadian. the exchange rate is actually worth it right now.
why pay twice for the exchange?

meagicano · Joined: 02 Jan 2005

I feel that American money will get me out of trouble far easier than Canadian money will. I always change into American when travelling internationally, especially with the flight routing that I had (through the States and then Japan). Plus, I'm doing a bit of travelling around China when I'm done here. American money is just more accepted than Canadian, at least in my experience.

I'm not actually concerned about the $5 ATM charge - I look at it as a sunk cost. As for the looking at 1 won to 1 Cdn dollar? I already do that, as flawed as it may be. It's just easier.

The Scotiabank site has been working - thanks for the link, peppermint. Plus, I have a bank machine right on campus that I can access in the student centre. Makes things far easier.