Korean Job Discussion Forums

[goodgood]

This, um, friend of mine got paid for, um, something, with some checks. Those 100,000 won ones. He's wondering what to do with them.

He used one to pay for groceries. That seemed to go ok. They only asked for his phone # on the back.

Is he being too cautious, or not cautious enough?

Any suggestions?

[ajuma]

Well, Koreans usually have to write their ID number on the check, so I'd say that he got off easy!! Even my OWN bank...the one I go to 3 or 4 times a month...asks for my ID for a check EVERY TIME!!

I REALLY don't think that they have someone that checks each and every one of the checks for details!!

[Ya-ta Boy]

[ilovebdt]

He could deposit them or use them to pay at the supermarket, in restaurants, clothing stores. They are a bit like cash really.

ilovebdt

[sock]

It's easiest and the least hassle to cash them either at the bank that issued them (if you go to a different bank they sometimes charge you, only 1,000 won, but still) or at a convenience store.

I had a bad experience trying to use them at Lottemart. I've never had problems using them to pay bills, or cashing them at the local convenience store. I would suggest being cautious where you use them. Depositing in a bank account is indeed the safest advice.

[happeningthang]

They've always been accepted at face value, and are as good as cash to me.

They're issued by ATMs and beats carrying around 3 huge envelopes of 10 000W notes on pay day.

Your mate's got nothing to worry about.

[Sash]

They're good unless you lose them. They're not personal so anyone can use them.

[bellum99]

[Sash]

If someone else gave you the checks and you lose them (op's situation), it would be hard to trace.

[Kimchi Cowboy]

[Crowzone]

I believe the real worry was about whether or not they WERE traceable to him -- as in it sounds like the OP (or his friend or whatever) received them in payment for some under the table activity (Private lessons?) and wanted to know if taking them to the bank would make people ask questions....

[goodgood]

[huck]

No...the bank won't check to see where you got it from...They're just cashier's checks basically.

If he's really paranoid, go to the casino and cash them in...It's the only way to launder money.....

[jmbran11]

Just spend them. We only write our name and phone number on the back. They've been accepted absolutely everywhere. The tax man (or immigration or whoever) isn't going to find a 100,000 note and track your friend down.

Don't be too paranoid. There's no reason to cash them at the bank unless you want to deposit the money or send it somewhere. Otherwise, your friend should leave his legitimate money (if any) in the bank and use the additional income as spending cash.

[bellum99]

Yup..no one will bother tracing the checks to find his secret tutoring....heheh....maybe.