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Korean Job Discussion Forums
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JCISML
Joined: 06 Dec 2005
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 Posted: Sun Apr 15, 2007 5:28 am Post subject: online shopping using debit card |
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| Which debit (check) card should i apply for in Korea so that I could pay in US shopping websites? I don't use credit card, and don't plan to apply yet. thanks |
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tzechuk
Joined: 20 Dec 2004
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| Posted: Sun Apr 15, 2007 5:46 am Post subject: |
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| None - you cannot use a debit card outside of Korea. |
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JCISML
Joined: 06 Dec 2005
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| Posted: Sun Apr 15, 2007 5:51 am Post subject: ? |
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so how can i use online shopping then?
i thought about paypal, but couldn't add funds to that, since i don't have US bank account.
any suggestions? really need to get on ebay  |
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mytime
Joined: 15 Oct 2006
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| Posted: Sun Apr 15, 2007 5:59 am Post subject: |
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Ok you said you dont use a credit card but why not get a credit card like the one Woori bank gives.
Its a "pre-paid" credit card in the sense that you can only spend 95% of the amount (minimum 1mill) you deposit on it.
So it's basically like a debit card because you can't go into debt. |
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JCISML
Joined: 06 Dec 2005
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| Posted: Sun Apr 15, 2007 6:22 am Post subject: |
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i don't get it,
if i sign up for woori card, will i be able to shop at foreign online shops?
does the woori card have visa, mastercard logo?
you mean that if i deposit 1 mil, i can only spend 950,000 won = 95% so 5% = 50,000 will be a fee, or what?
thanks for reply |
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mytime
Joined: 15 Oct 2006
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| Posted: Sun Apr 15, 2007 8:30 am Post subject: |
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| JCISML wrote: |
i don't get it,
if i sign up for woori card, will i be able to shop at foreign online shops?
does the woori card have visa, mastercard logo?
you mean that if i deposit 1 mil, i can only spend 950,000 won = 95% so 5% = 50,000 will be a fee, or what?
thanks for reply |
yes it has a visa logo and yes,like any visa card, it works anywhere where they accept visa....so online sites abroad do accept it, no problem
the 50 000 isn't a fee...i don't know what it is but i will only get it back once i close my account but i will get it back
i guess it's to cover the interest or cost of my purchases....like any credit card, you must pay something for the use of it |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Sun Apr 15, 2007 2:13 pm Post subject: |
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| JCISML wrote: |
i don't get it,
if i sign up for woori card, will i be able to shop at foreign online shops?
does the woori card have visa, mastercard logo?
you mean that if i deposit 1 mil, i can only spend 950,000 won = 95% so 5% = 50,000 will be a fee, or what?
thanks for reply |
IT is a SECURED credit card and NOT a debit card. There is NO annual fee or service fee unless you carry a balance.
I got this from Worri-bank,
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Dear Mr. Ttompatz;
Thank you for using Woori bank service.
As for your inquiry, we have a credit card available to foreign residents.
However, there is a requirement you should meet, a time deposit, which Woori bank is going to take it as a security, and the minimum amount for that should be no less than w1,000,000.
When you are ready for this, please visit your local branch office with your ID card used for your account establishment (it could be either your alien card or passport) and the bankbook. We will be glad to help you.
If you have further questions, please send a message or call Woori Bank Customer Service at 02-2008-5000,#7. Our collect number is 080-365-5000,#7. Representatives are available to assist you from 9:30 AM Monday through to 5:30 PM Friday.
Thank you for using Woori Bank. We appreciate the opportunity to serve you.
Best regards,
Tina
-----------------------------------------------------------------------------------
The way it works is your limit is ~95% of your deposit.
1.1 million won time deposit = 1 million won limit.
2.2 million won time deposit = 2 million won limit.
Your money is placed in a term deposit with an interest (as of Jan 2007) rate of about 4.5-5.5% and then you get a VISA card that can be used globally, can also be used for bus/subway domesticallyand gives discounts at various locations like Everland/LotteWorld (50%), theaters (2000won), various restaurants. etc.
If the clerk in the bank doesn't speak English, get them to phone the number listed above and the Customer service center will assist you with translation and take care of any problems. Takes about 30-35 minutes for the whole process. You get your card in the mail in about a week.
You can get your deposit back early simply by turning in your card and closing the account.
Position and employer don't matter. |
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