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Kiddirts
Joined: 25 Jul 2003
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 Posted: Wed May 10, 2006 7:19 pm Post subject: sending money home... |
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| now that Korean banks don't allow for an international debit card (have mom take $ out back in the US) how are you guys sending your stuff home if you are making serious coin? I'm about to head back in June and kinda bummed about having to declare this shit...any info thanks... |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Wed May 10, 2006 7:55 pm Post subject: Re: sending money home... |
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| Kiddirts wrote: |
| now that Korean banks don't allow for an international debit card (have mom take $ out back in the US) how are you guys sending your stuff home if you are making serious coin? I'm about to head back in June and kinda bummed about having to declare this *beep*...any info thanks... |
Says who that Korean banks don't offer an international ATM card??
I have them (international ATM cards) issued from both Woori bank and KEB. My Korean issued VISA card is also international... I have used them abroad many times with never any problem. I am not Korean, not of Korean decent and do NOT have a Korean wife. My bosses never went to the bank for me and were/are actually unaware of these accounts.
Someone is feeding you a line of crap or the staff member you spoke to is uninformed or unaware of what you were asking for.
But to get back on topic and answer your question... the FASTEST way to send money back is bank wire.... Total costs (from all the banks involved in the transaction) run about US$40.
If you want a CHEAP and secure but not as fast method to send money home... go to your favorite bank with a Currency exchange counter and get an INTERNATIONAL money order. Cost is about 7000 won. Mail this to your mom (cost of the letter mail is under w1000 and have her deposit it into the bank for you. Takes about 7-10 days this way.
Money orders are replaceable if lost or stolen, cheap and secure. Just make sure to keep your receipt until it is credited into your bank account at home. |
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Kiddirts
Joined: 25 Jul 2003
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| Posted: Thu May 11, 2006 2:41 pm Post subject: + |
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| my brother who is there looking after my jobs said he went into a few banks and all denied him a card saying that they changed their policy...thanks though about the international money order, sounds like a good idea. |
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harryh
Joined: 16 Jan 2003
Location: south of Seoul
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| Posted: Thu May 11, 2006 8:43 pm Post subject: |
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Yeah, the banks changed their policies. The law changed I believe. I opened a KEB account and I received a VISA card, but it only works in Korea.
It is still possible to get an internationally accepted card, but I believe one has to put down some kind of 'deposit', in a separate bank account, to cover international VISA transactions. That's with KEB anyway.
KEB offer an 'Expats' VISA card, but I was turned down for this due to being a Hagwon teacher.
I know people who were issued an International VISA card, before the policy change, and they can still use their cards abroad. |
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Wangja
Joined: 17 May 2004
Location: Seoul, Yongsan
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| Posted: Thu May 11, 2006 8:56 pm Post subject: |
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| I received a new international VISA credit card from Shinhan about 6 weeks ago. |
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