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Author Topic: Taking money on an airplane  (Read 14082 times)

Offline Cereal

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Re: Taking money on an airplane
« Reply #20 on: June 22, 2011, 12:15:37 PM »
Tape it to your body just to be sure.

Or you could always check the flight details or may be google for the answer rather than adding another stupid question to the other infinite stupid questions that are slowing waygook down.

OUCH!!!

Oops...is that slowing Waygook down too.  :-* Have a nice day!
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Offline Jeff619

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Re: Taking money on an airplane
« Reply #21 on: June 22, 2011, 01:15:00 PM »
Does every bank have thousands of Canadian dollars in the vault?
No, most banks just keep real money in the vault.  Calm down, I'm just joking!  Back on topic, the other poster was right in that you shouldn't exchange your money at the airport.  They offer the worst exchange rates and high fees.  If you can't find a bank to exchange the money here, I'm sure you'll have no problem doing at a bank back in Canada.

Offline Koradian

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Re: Taking money on an airplane
« Reply #22 on: June 22, 2011, 01:28:51 PM »
Depending on the country, immigration will match, in travelers checks, whatever amount your are carrying. This is a some tourist promotion event that has been taking place in more than a dozen countries.

"Citation needed."

Was it too hard to provide a link?

This happened to my parents friends not too long ago. The thing is that you can't be the nationality of the country you are entering and must be able to provide an itinerary proving you are on vacation. Supposedly is was featured on Live At 5 news back in Canada.

Offline cruisemonkey

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Re: Taking money on an airplane
« Reply #23 on: June 22, 2011, 01:55:28 PM »
If you can't find a bank to exchange the money here, I'm sure you'll have no problem doing at a bank back in Canada.

This is quite possibly the worst advice ever given on WAYGOOK.ORG
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Offline teacher_del

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Re: Taking money on an airplane
« Reply #24 on: June 22, 2011, 02:14:47 PM »
1)  Legal limit.  Yes, the legal limit for passing into Canada without a lot of additional documentation is $10,000. 

2)  How to carry money. The best way to bring cash into Canada is to stash the money in multiple places about your person.  I personally have a neck pouch and a two-strap belt which I wear under my clothes for large amounts of money, and an interior coat pocket where I keep a few hundred dollars for miscellaneous travel expenses (plus my passport and tickets).  The pouch and belt both have plastic buckles that won't trip the scanner and thus don't have to be removed unless they are visible to the agent.  Taping money to your body is a good way to keep it safe, but it can get uncomfortable.

3)  Exchange rates.  The exchange rate is the same everywhere, but I can't think of a single currency exchanger that will give you that value.  Every place charges a fee.  Otherwise they wouldn't make a profit on the service and wouldn't bother offering it.  This fee will either be a percentage of the amount exchanged or a flat fee PLUS a percentage of the amount exchanged.  (Maybe flat fees without an additional percentage exist, but I've never encountered one in about eight years of needing to deal with money changers.) 
Banks tend to have the best rates for low-level consumers like us.  Banks located at travel hubs, like airports and bus stations, often have a convenience markup over what you would pay at another branch a kilometer down the street.  (I don't know for a fact that the Incheon KEB follows this practice, but it seems likely.)  Money-changing desks charge even more.  Whatever you do, do NOT go to one of those cash exchange kiosks. You WILL be ripped off. 

4)  Will the bank have enough money?  How much are you hoping to exchange?  I exchanged won for a thousand dollars in Canadian currency at my little local KEB two weeks ago without any trouble.  It looked like there was about $5000 in the pouch they counted my money from, and we are nowhere in a nowhere corner of Seoul. It was incredibly easy with no waiting time because I went on a school holiday.  If you are leaving a few days after your contract ends, you should have plenty of time to go to the bank during the day and get the best possible rate.

Offline Chocolate Starfish

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Re: Taking money on an airplane
« Reply #25 on: June 22, 2011, 02:38:34 PM »
This happened to my parents friends not too long ago. The thing is that you can't be the nationality of the country you are entering and must be able to provide an itinerary proving you are on vacation. Supposedly is was featured on Live At 5 news back in Canada.

Ah, yes, of course it did.  It probably happened to many others too, and I am sure the programme was heavily promoted and many of the cash recipients were so happy that they blogged about it or wrote comments on some travel site.  So I'm sure it would be trivial for you to provide even the tiniest shred of evidence.

Offline Chocolate Starfish

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Re: Taking money on an airplane
« Reply #26 on: June 22, 2011, 02:45:34 PM »
I know very little about traveler's checks, what can we do with them? I know you can use them in stores, but can I just go to a bank and cash it in like that instead? I'm just worried because some cashiers may not know what to do with them

Fortunately, the Internet has a wealth of information that you may find useful in this regard.

Sorry, I didn't realize this thread was not a part of the internet. My bad.

Guys I appreciate you always recommending Google or "the internet" but sometimes it's nice to get current up-to-date information from real people who may have personal experience on the subject. Thanks.

Exactly!

Yes, this is the internet, but the bit you are looking for here hasn't been written yet.  You need to look elsewhere for any one of the myriad of stories, tips and FAQs that will answer your question.  Here, for example, is American Express's FAQ:

https://www212.americanexpress.com/dsmlive/dsm/dom/us/en/personal/cardmember/additionalproductsandservices/giftcardsandtravelerscheques/travelerschequesservicecenter.do?vgnextoid=8a79b244dc310210VgnVCM200000d0faad94RCRD&vgnextchannel=95ddb81e8482a110VgnVCM100000defaad94RCRD&appinstancename=default#frequently-asked-questions

But basically, instead of buying cash in another currency you buy Traveller's Cheques (in the same or another currency).  When you want to use them you either use them like cash (you have to sign the cheque in the presence of the person accepting them) or you take them to a bank and exchange them for cash (in the same or another currency).

If you lose a cheque, or it's stolen, you report it and the company will replace them at full value.

That's it.  What else is there to know?

Offline happiest

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Re: Taking money on an airplane
« Reply #27 on: June 22, 2011, 02:46:55 PM »
I think you should be pretty safe in the airport. If I were you, I'd use a purse with a strap that could go across your body and never take it off. Good luck! 

Offline Koradian

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Re: Taking money on an airplane
« Reply #28 on: June 22, 2011, 03:17:20 PM »
My point is that you read it here on waygook so it's true.

What I don't understand is when posters, like Taya, are looking for information from users of this site when it seems they too lazy to search the proper channels on the internet for concrete answers and take waygook as being the bible. Whenever a question gets posted, it's replied to with too many contradicting answers from people who think they know everything.

Ah!  I get it.

Ok, so what about snakes...?

I know that because our school is quite old, for every snake that a teacher catches, they are give a 25,000won a month raise. There's one older fellow who's caught 13 this semester alone.

Offline Chocolate Starfish

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Re: Taking money on an airplane
« Reply #29 on: June 22, 2011, 03:19:51 PM »
My point is that you read it here on waygook so it's true.

What I don't understand is when posters, like Taya, are looking for information from users of this site when it seems they too lazy to search the proper channels on the internet for concrete answers and take waygook as being the bible. Whenever a question gets posted, it's replied to with too many contradicting answers from people who think they know everything.

Ah!  I get it.

Ok, so what about snakes...?

I know that because our school is quite old, for every snake that a teacher catches, they are give a 25,000won a month raise. There's one older fellow who's caught 13 this semester alone.

I meant, on a plane.

Offline Davey

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Re: Taking money on an airplane
« Reply #30 on: June 22, 2011, 03:20:06 PM »
If you can't find a bank to exchange the money here, I'm sure you'll have no problem doing at a bank back in Canada.

This is quite possibly the worst advice ever given on WAYGOOK.ORG

Yes, do NOT bring Korean money back to Canada. Even the KEB in Toronto refused to take it, and even if they accept it now, I'm sure there'll be a limit and/or the rate will be very poor.

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Offline Koradian

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Re: Taking money on an airplane
« Reply #31 on: June 22, 2011, 03:23:00 PM »
My point is that you read it here on waygook so it's true.

What I don't understand is when posters, like Taya, are looking for information from users of this site when it seems they too lazy to search the proper channels on the internet for concrete answers and take waygook as being the bible. Whenever a question gets posted, it's replied to with too many contradicting answers from people who think they know everything.

Ah!  I get it.

Ok, so what about snakes...?

I know that because our school is quite old, for every snake that a teacher catches, they are give a 25,000won a month raise. There's one older fellow who's caught 13 this semester alone.

I meant, on a plane.

Now your just getting off topic! haha

Offline west coast tatterdemalion

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Re: Taking money on an airplane
« Reply #32 on: June 22, 2011, 06:01:44 PM »
2 million won is nothing. I once walked around with over 6 grand in traveler's cheques in my wallet for half a year. As far as exchanging, that amount is a drop in the bucket. You will have no problems doing it. Oh, and you can do it at the airport. It is the law here(for what it is worth) that the airport's currency exchange is linked to the general currency exchange at any bank. There is no difference. In other words, do it wherever you want and when it is most convenient to you. I will also say to just get that 2 million and exchange into traveler's cheques...they are safe and never expire. But either way, cash or traveler's cheques, it will be no problem whatsoever unless you are kind of a careless person that loses things easily. I'm the opposite; hyper-vigilant.

Offline danitravels

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Re: Taking money on an airplane
« Reply #33 on: June 22, 2011, 07:37:08 PM »
So why is it necessary to pack around 2 grand? Why don't you deposit/transfer the majority of that and only pack what's absolutely necessary to get back to Canada?

A lot of banks won't accept any foreign bills that have wrinkles, marks or tears, so if you get any janky bills, you'd be S.O.L.

Offline cat fud

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Re: Taking money on an airplane
« Reply #34 on: June 22, 2011, 08:03:48 PM »
A lot of banks won't accept any foreign bills that have wrinkles, marks or tears, so if you get any janky bills, you'd be S.O.L.

Really?  I've travelled a lot and never had any trouble exchanging bills in any condition.  Furthermore I have been given wrinkled, marked and torn bills occasionally.

I usually iron them before taking them to the bank though, just in case.

Offline Jeff619

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Re: Taking money on an airplane
« Reply #35 on: June 22, 2011, 09:03:47 PM »
If you can't find a bank to exchange the money here, I'm sure you'll have no problem doing at a bank back in Canada.

This is quite possibly the worst advice ever given on WAYGOOK.ORG
Oh sorry, I'm not from Canada.  My main point was to avoid the airports.  I've had no problems exchanging Korean money in the USA, Asian countries and in Europe.  What's wrong with Canada?

Offline cat fud

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Re: Taking money on an airplane
« Reply #36 on: June 22, 2011, 09:33:11 PM »
If you can't find a bank to exchange the money here, I'm sure you'll have no problem doing at a bank back in Canada.

This is quite possibly the worst advice ever given on WAYGOOK.ORG
Oh sorry, I'm not from Canada.  My main point was to avoid the airports.  I've had no problems exchanging Korean money in the USA, Asian countries and in Europe.  What's wrong with Canada?

Generally the rates outside of Korea are bad, because no-one really wants Korean Won.  You should change money within Korea before you leave.  Airport rates are not too bad, but you would do well to compare rates between local banks before you leave just to be sure.

Offline Davey

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Re: Taking money on an airplane
« Reply #37 on: June 22, 2011, 09:49:12 PM »
If you can't find a bank to exchange the money here, I'm sure you'll have no problem doing at a bank back in Canada.

This is quite possibly the worst advice ever given on WAYGOOK.ORG
Oh sorry, I'm not from Canada.  My main point was to avoid the airports.  I've had no problems exchanging Korean money in the USA, Asian countries and in Europe.  What's wrong with Canada?

For one thing, more Korean tourists in those countries than in Canada.

As the poster above said, even if you can exchange money the KRW in another country, it's generally better to do in Korea; no other country really has use for it since it's non-deliverable.
« Last Edit: June 22, 2011, 10:30:49 PM by daveyc18 »
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Offline naturegirl321

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Re: Taking money on an airplane
« Reply #38 on: June 23, 2011, 12:45:28 PM »
Money belt, the only time I had to take it off was when I had keys in it.  Spread your money around as well.  I put some in my socks.  I know, it stinks, literally, or pull out your shoe insert and stick it there.  Also had money hidden in books.  NO issues whatsoever.

I spent a couple weeks in Europe with more than that and spent nights on trains and days walking around.  Still had money left over inside my shoe, pretty stinky, but hey, it works. 

And if you use money belts or neck pouches remember that they go INSIDE your clothes.  Nothing screams, rob me when they hang on the outside.
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Offline Khanate

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Re: Taking money on an airplane
« Reply #39 on: June 24, 2011, 08:04:15 AM »
So if I'm bringing 25000$, the best time to exchange would be while opening my bank account?