Korean Job Discussion Forums

thewhat · Joined: 03 Jun 2005 Location: Seoul suburbs

I bought travellers cheques at KEB.$ 1000 worth. i was told, as in Canada, no ID would be required. I could be buying them for anyone as a favor or whatever.
Sure enough they want my passport. I say no. i end up showing them my alien card. they acy like this is a one time favor. i want to know what the rule is, but theres a language barrier with them. KEB canada maintains no ID is required, KEB korea insists on ID.

Does anybody know? Rolling Eyes

kprrok · Joined: 06 Apr 2004 Location: KC

You always have to show Valid ID when you buy traveler's Checques because the bank has to watch you sign them so they can't be stolen. If you don't show ID, then you could sign them any way you want, and claim they were stolen.

Besides, why wouldnt you want to show your ID? It's for your own protection that they do this. Plus, that's the benefit of TCs over cash.

Granted, I'd say the ARC should be fine no matter what, that's all I've shown here.

KPRROK

PolyChronic Time Girl · Joined: 15 Dec 2004 Location: Korea Exited

I don't know if this relates but I also have been required my passport when I wire money home at the bank here. They write the amount transferred on the "endorsment" page of the passport because I'm not suppossed to transfer over $10,000 overseas.

Now I can't wire home anymore money. I'm taking about 8 grand cash with me on the plane. Don't really know about traveller's cheques though...I don't know how they are used Embarassed

kprrok · Joined: 06 Apr 2004 Location: KC

quiksilver · Joined: 11 Sep 2004

What are the denominations available? Can a guy get one for $5000 or would he need to get 5 $1000 checks?

Grotto · Joined: 21 Mar 2004

for the love of PETE

Get a money order/remittance. Screw the traveler cheque thing

You can get a money order in any amount you desire.
Go to KEB

NEVER LET A BANK STAMP YOUR PASSPORT!!!

peppermint · Posted: Tue Aug 09, 2005 2:58 am Post subject:

Just be warned about money orders. I did that to fund my trip home, and my stupid Canadian bank put a ten day hold on it because it's from Korea. Good thing I actually could get funds out of my Korean account.

denverdeath · Joined: 21 May 2005 Location: Boo-sahn

funplanet · Joined: 20 Jun 2003 Location: The new Bucheon!

Who gets their passports stamped for wiring funds overseas?? I never have been asked for it in 4 years....and I wire in excess of 20million each year...

you guys are banking at the wrong bank!!

denverdeath · Joined: 21 May 2005 Location: Boo-sahn

trevorcollins · Joined: 02 Jul 2004

ajuma · Joined: 18 Feb 2003 Location: Anywere but Seoul!!

I guess it depends on what bank you use in Korea. In the States, you ALWAYS have to sign the TCs in front of the teller, but at CHB, I've never had to. Actually, I like this system better, since I can use them myself or give them to someone and THEY can sign them. Yes, of course it's more of a security risk, but I'll take the chance!

bucheon bum · Joined: 16 Jan 2003

bucheon bum · Joined: 16 Jan 2003

thewhat · Joined: 03 Jun 2005 Location: Seoul suburbs

I always thought you did not have to sign t/c's unless you want to. they're like a blank cheque without signing them but if you want to pay for them and do that then who cares.?

I dont know if thats right or not. BUT asking for my ARC does nothing except make me jump through a hoop, there is no signature on the card.
Again at KEB canada they claim no ID is necessary when purchasing.
They also say $1000's are available, but the highest they had here was 500.

Should i fight having to even show my ARC????

By the way t/c's were 5 bucks cheaper than buying a money order, and I think its better to lose a t/c. right?

Is t/c or money order the most economical way to change won to canadian money???