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oldfatfarang
Joined: 19 May 2005
Location: On the road to somewhere.
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 Posted: Fri Apr 07, 2006 1:10 am Post subject: Currency regulations |
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When wiring money home recently the bank said I can only send $10,000 (USA) per year out of Korea.
Trouble is, I'm saving more than $10,000 (USA) per year. . And I may want to scram, sometime.
So, how can I send/take the rest of my savings out of Korea??
(Q) Will there be problems at the airport????
(Q) If I wire more money home from another bank will the Currency Police contact me???
(Q) Or can I just convert the balance of my account into travellers' cheques / cash and walk through customs with it.
Any advice/experience would be appreciated.
Thanks |
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Porter_Goss
Joined: 26 Mar 2006
Location: The Wrong Side of Right
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| Posted: Fri Apr 07, 2006 4:33 am Post subject: |
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| When you opened your bank account did you use your passport or your ARC? |
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oldfatfarang
Joined: 19 May 2005
Location: On the road to somewhere.
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| Posted: Sat Apr 08, 2006 3:09 am Post subject: |
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I must have used my passport ?? as I didn't get an ARC until I worked for 3 months.
I want to just try and wire more money home. But I've already sent about $9,500 (USA) home 2 months ago.
I don't want to carry thousands of dollars with me when I travel through other Asian countries on the way home.
Any ideas???? |
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cubanlord
Joined: 08 Jul 2005
Location: In Japan!
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| Posted: Sat Apr 08, 2006 4:50 am Post subject: |
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yes. your bank is wrong. You can transfer up to how much you make every month.
If you make 2 million won a month you can transfer up to 2 million won a month. It's simple. You just have to bring in your pay stubs showing that is how much you make.
What bank are you using? A lot of banks see foreigners and are like "only $10,000 USD". This is not true. If anyone has a link to the actual law in Korean, please let us know. It would be great to hand the banks this and show them they don't know their own a$$ from a hole in the ground. |
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Porter_Goss
Joined: 26 Mar 2006
Location: The Wrong Side of Right
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| Posted: Sat Apr 08, 2006 6:39 am Post subject: |
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| cubanlord wrote: |
yes. your bank is wrong. You can transfer up to how much you make every month.
If you make 2 million won a month you can transfer up to 2 million won a month. It's simple. You just have to bring in your pay stubs showing that is how much you make.
What bank are you using? A lot of banks see foreigners and are like "only $10,000 USD". This is not true. If anyone has a link to the actual law in Korean, please let us know. It would be great to hand the banks this and show them they don't know their own a$$ from a hole in the ground. |
$10,000.00 USD is the tourist limit, that's why I asked if they used their passport or ARC when they opened the account. Go to a new bank. Open an account with your arc, send as you please. |
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