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dogshed
Joined: 28 Apr 2006
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 Posted: Sat Nov 18, 2006 5:46 am Post subject: wire transfer corespondence banks and intermediary |
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| How do I know if I will be charged a fee by a correspondence or an intermediary bank? Is it safe to assume the Korean banks only use them if the US bank requires it? -Jeff |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sat Nov 18, 2006 1:34 pm Post subject: Re: wire transfer corespondence banks and intermediary |
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| dogshed wrote: |
| How do I know if I will be charged a fee by a correspondence or an intermediary bank? Is it safe to assume the Korean banks only use them if the US bank requires it? -Jeff |
All Korean banks require an intermediary between here and anywhere.
It is one of those strange but true things. EVEN if you transfer between different branches of the same international bank (take citibank) for example. They still use an intermediary between here and the west.
Don't ask me why. |
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dogshed
Joined: 28 Apr 2006
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| Posted: Sat Nov 18, 2006 5:12 pm Post subject: Re: wire transfer corespondence banks and intermediary |
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| ttompatz wrote: |
| dogshed wrote: |
| How do I know if I will be charged a fee by a correspondence or an intermediary bank? Is it safe to assume the Korean banks only use them if the US bank requires it? -Jeff |
All Korean banks require an intermediary between here and anywhere.
It is one of those strange but true things. EVEN if you transfer between different branches of the same international bank (take citibank) for example. They still use an intermediary between here and the west.
Don't ask me why. |
One bank told me they use JPMorgan as their intermediary. If I had an account with JPMorgan would they use an intermediary? |
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