Korean Job Discussion Forums

napoleon8 · Joined: 18 May 2003

I opened an account today with Korea Exchange Bank (KEB), but they didn't give me an international ATM card that I can use outside of Korea, such as Maestro/Cirrus or Plus. They told me "jikbul" card, but they only gave me a cash card for Korea. Can anyone banking with KEB tell me how to get an international ATM card? I didn't have my ARC card today, only my passport. If I show them my ARC, will that help? Is there any certain branch of KEB that you can recommend that will issue me an international ATM card?

More generally speaking, are banks in Korea discontinuing the international ATM card for foreigners? Does anyone have the facts on this issue? I would like to know.

ttompatz · Joined: 05 Sep 2005 Location: Kwangju, South Korea

napoleon8 · Joined: 18 May 2003

inspector gadget · Joined: 11 Apr 2003 Location: jeollanam-do in the boonies

Napolean,

I had the same issue a few years back, solution to your problem is have your director/principal/any korean to verify your existance to go with you and BANG done immediately no more questions asked

BigBlackEquus · Posted: Mon Feb 13, 2006 8:06 am Post subject:

That was a few years back.

Times have changed. The international ATM problem didn't become a big issue until sometime around last summer, if memory serves.

philthy · Joined: 02 Sep 2005 Location: Incheon

I opened an account there in December to get a (secured) credit card and everything was fine. Then when I enquired to their help line about an international ATM card they said the law had changed and dirty filthy foreigners were allowed to make money and spend it Korea, but could not be trusted to access their accounts abroad (well, not in so many words). I have not tried it overseas yet, but I'm pretty sure we're all up the proverbial creek without a paddle.
Maybe it's time for Korea to join other first world countries and get rid of their arcaic banking regulations. The best one is that an ATM (which is there for convenience when the bank is closed) closes!! Sorry, no money for you.

Tiny_Tibbo · Joined: 21 Apr 2005 Location: In My Skin

well I went to my bank yesterday and asked if I could have a money order or a check book.....the answer was "no" and "no".....but last time they gave me 2 international cards Rolling Eyes

.....so does anyone know how I can get a money order?

peppermint · Posted: Mon Feb 13, 2006 5:02 pm Post subject:

I've gotten money orders at KEB- maybe they didn't understand what you were asking for? Anyone know what the Korean for "money order" is?

As for the cheque book- they don't use them here.

mishlert · Joined: 13 Mar 2003 Location: On the 3rd rock from the sun

I was at the Itaewon KEB just before the Lunar New Year weekend to get Baht (yes, they have it) and travler's checks for my trip to Thailand.
I told the person that I have an international KEB card and asked if it would work during my trip. He said that they had just gotten a notice from the Korean Govt. stating that all banks are to make foreigners' international ATM
cards null and void outside Korea. We then got into a discussion about the issue and he agreed with me about the stupidity of the law, but, ". . . we are a domestic bank and must follow the law in order to keep our liscence."

Well, during my trip I needed to cash some checks but it was too late so I tried my card and it worked; that was the first week of February, so I don't know how long it will last.

Pyongshin Sangja · Joined: 20 Apr 2003 Location: I love baby!

Bump!

So, cards that they have already been issued can be made retro-actively null and void?

I have had a Seoul/Hana Bank card with VISA PLUS since 2001, it used to work overseas. Probably still does, unless this law has actually changed that.

Nonghyup gave me an international MAESTRO card in 2003. I tried to have it replaced in 2005 and they gave me a song and dance about being a foreigner, then said that their branch didn't have the cards and that they would order one for me. I waited a couple of weeks. They never contacted me so I went back. Strangely, they had the cards under the counter that day. That card worked for me overseas last year. Will it stop working? That could really suck.

I am aware that you can now transfer as much money out of the country as you want from KEB ATM's, but you must specify the receiving accounts beforehand. Perhaps Korea is more comfortable with this sort of revenue outflow.

Screw this, I'm going to Standard Chartered (formerly Jeil Bank.) They are 100% foreign-owned.

In an aside, will foreigners' Korean credit cards now stop working overseas as well?

napoleon8 · Joined: 18 May 2003

ddeubel · Joined: 20 Jul 2005

I don't know what all the fuss is about............i got an international debit card, works fine. 3,000 won / transaction. I did go in with a Korean colleague though, as stated, this probably helps big time. Card still works so no retroactive mumbojumbo being done.... oh yeah, Hana bank it is, for all that matters. But I do have an account at CitiBank..........

wanderer · Joined: 25 May 2003

harryh · Joined: 16 Jan 2003 Location: south of Seoul

Sometimes it's awkward being an 'international' citizen.

I haven't lived in the UK for 6 years, due to the nature of the job.

Last summer I returned for a short break, and applied for a visa with my UK bank, as I had previously been turned down for a Nongyup visa card here.

Unfortunately, I got turned down for a visa card in the UK because I am not on the Electoral roll in the UK (I've spent most of my adult life abroad).

I find it inconvenient! I've been in Korea for over three years now. There are things I'd like to buy from the internet occasionally, and would like a card for when I travel.

I looked into the possibility of an offshore bank account, but there is so much paperwork and translations required (plus cost), that it doesn't seem a good idea.

I may go to a KEB and find out what services I could possibly receive.

Pyongshin Sangja · Joined: 20 Apr 2003 Location: I love baby!