Korean Job Discussion Forums

[charlieDD]

Got a letter from KEB saying that the international ATM card I've had with them for three years would no longer be valid effective 1 September (of course, they would mail this letter on the 15th of September) due to a new Korean law that bans international ATM cards for foreigners with Korean banks.

Called Woori to see if they were on the same page. The English-speaking help desk there confirms they no longer can issue international ATM cards for foreigners - - with no way around it - - saying it was "to control foreign currency."

Anyone got a scoop on this?

I've been using the card to support a charity in Thailand, letting a Catholic priest there withdraw a set amount each month using the card. Without it, I'll have to find another, likely more expensive, alternative of getting the money there; or just send one annual lump sum or such.

If this is true, then I join the ranks of the "Hub of Asia My A*r*s*e" gang!

"We want to be the hub of Asia's finance. What can we do to get the ball rolling. I know, I know - - - let's tighten up foreign exchange controls and limit the foreigners ability to conveniently use one of our bank accounts!" - - - Yea, that's the ticket!

[laogaiguk]

I think this is a good reason (if true) to say...

"Hub of Asia my ass". And people who know me here know I don't say that lightly.

[ajgeddes]

Last month my Woori International ATM card stopped working (only in Woori machines though) and I was worried about trying to get a new one. When I went in to get a new card, they gave me the exact some card, no problem. I presume it still works internationally, but I haven't tested it. I will let you know after Chuseok.

I don't understand what Korean banks expect foreigners to do when they go on vacation though, if they won't give them international cards or credit cards. (They won't give me a credit card, and I even offered to pay a deposit.)

[diver]

[Milwaukiedave]

I agree that getting an international ATM card seems to be really difficult. If anyone has had luck with another bank please share your story.

I went to KB and was told there is not an international debt card for foreigners. My wife explained this is probably because it was abused by foreign teachers in the past. This still doesn't make much sense.

There is one thing I'm going to try this Friday. I'll keep mum about it until I give it a whirl. If it works, I'll tell everyone, but damn it I don't want to jinks it.

[Moldy Rutabaga]

[....]

[Milwaukiedave]

MR,

I don't know exactly. They seem to be short on answer to explain why it is so difficult to get.

[Beej]

This is truly friggin appalling. The amount of money taken out of Korea by foreign workers is miniscule compared to the amount taken out by Korean students, immigres, and vacationers.

As usual the Korean method is :"blame the foreigners even though our behavior is about 100 times worse."

[jaganath69]

Just a suggestion to the OP, what about getting a Korean friend to open an account and just use it for the money you transfer to the charity? Could work if you trust the person.

[SPINOZA]

[Guri Guy]

I ran into the same problem. It seems the perception is that foreigners in this country are funneling huge amounts of money out of the country. This angers Koreans so they won't allow us to take our money out of the country as easily. A complete joke.As usual, we get screwed for Korean xenophobia. Hub of Asia my @ss.

[RACETRAITOR]

I had a lot more trouble with bank cards in Japan than here.

[BigBuds]

[Gwangjuboy]

[Ya-ta Boy]

Can't speak to the international ATM card situation, but last fall Nong-hyup gave me a credit card good till the end of '08 with no hassles at all. (At KB I couldn't get one for more than one year at a time.)

It might be worth your time to check it out.