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Author Topic: Sending/Transferring Money Home (FAQ)  (Read 191308 times)

Offline rhiannonsmada91

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Re: Sending/Transferring Money Home (FAQ)
« Reply #180 on: April 10, 2016, 05:07:54 PM »
Hello,

So I have a Charles Schwab checking account back home, and apparently this account is unable to accept international transfers, which I learned after I already gave KEB my account info for the Easy One account. So my question is, am I able to go to KEB and change my info to an account that does accept international transfers? Or am I unable to change which account I want linked to the Easy one account after everything is set up?

Offline Pecan

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Re: Sending/Transferring Money Home (FAQ)
« Reply #181 on: April 10, 2016, 05:46:17 PM »
Someone is feeding you some disinformation.

You have the Charles Schwab app, right?  If not, download it on your smart phone, so you can make mobile deposits.

All you have to do is get KEB to draft you a Cashier's Check, take a photo of the front and back and make a mobile deposit to your account.

It is simple and painless.

Offline rhiannonsmada91

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Re: Sending/Transferring Money Home (FAQ)
« Reply #182 on: April 10, 2016, 06:31:04 PM »
Someone is feeding you some disinformation.

You have the Charles Schwab app, right?  If not, download it on your smart phone, so you can make mobile deposits.

All you have to do is get KEB to draft you a Cashier's Check, take a photo of the front and back and make a mobile deposit to your account.

It is simple and painless.

Thank you so much!

Offline LaChaca

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Re: Sending/Transferring Money Home (FAQ)
« Reply #183 on: April 10, 2016, 07:02:45 PM »
You can definitely receive international wire transfer with Schwab. You have to transfer the money to your brokerage account, I promise you because I did it a week ago! Then, you can transfer the money from your brokerage to your checking which takes a couple of hours for the money to appear in that acct.

Offline rhiannonsmada91

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Re: Sending/Transferring Money Home (FAQ)
« Reply #184 on: April 10, 2016, 07:07:10 PM »
You can definitely receive international wire transfer with Schwab. You have to transfer the money to your brokerage account, I promise you because I did it a week ago! Then, you can transfer the money from your brokerage to your checking which takes a couple of hours for the money to appear in that acct.

Thank you! Yeah, I made the mistake of linking my checking account and not my brokerage acct. Hopefully I can change it to the brokerage acct if I don't figure out another way.

Offline LaChaca

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Re: Sending/Transferring Money Home (FAQ)
« Reply #185 on: April 10, 2016, 07:13:34 PM »
What's the cheapest way to send money back home. I have Woori Bank here in Korea and I got charged 35,000 krw (after the conversion) to send 125 USD to my American account. I need to pay loans so I'll need to send money home each month and it'll probably be a higher amount than that 125 USD.

Offline LaChaca

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Re: Sending/Transferring Money Home (FAQ)
« Reply #186 on: April 10, 2016, 07:15:56 PM »
You can definitely receive international wire transfer with Schwab. You have to transfer the money to your brokerage account, I promise you because I did it a week ago! Then, you can transfer the money from your brokerage to your checking which takes a couple of hours for the money to appear in that acct.

Thank you! Yeah, I made the mistake of linking my checking account and not my brokerage acct. Hopefully I can change it to the brokerage acct if I don't figure out another way.

Did you give your Korean bank the information for your brokerage or checking?

Offline rhiannonsmada91

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Re: Sending/Transferring Money Home (FAQ)
« Reply #187 on: April 10, 2016, 07:19:08 PM »
You can definitely receive international wire transfer with Schwab. You have to transfer the money to your brokerage account, I promise you because I did it a week ago! Then, you can transfer the money from your brokerage to your checking which takes a couple of hours for the money to appear in that acct.

Thank you! Yeah, I made the mistake of linking my checking account and not my brokerage acct. Hopefully I can change it to the brokerage acct if I don't figure out another way.

Did you give your Korean bank the information for your brokerage or checking?

Checking

Offline orionchocopie

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Re: Sending/Transferring Money Home (FAQ)
« Reply #188 on: April 10, 2016, 07:23:03 PM »
What's the cheapest way to send money back home. I have Woori Bank here in Korea and I got charged 35,000 krw (after the conversion) to send 125 USD to my American account. I need to pay loans so I'll need to send money home each month and it'll probably be a higher amount than that 125 USD.
Probably KEB's Easy One.  I find their fees to be reasonable, but I haven't shopped around recently.

If you're sending money home you really need to send large chunks.  125USD will be dwarfed by fees.  1000USD is better.  I usually send 5000USD when the rate is good, so as a percentage, the fees are small.

Offline LaChaca

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Re: Sending/Transferring Money Home (FAQ)
« Reply #189 on: April 10, 2016, 07:24:47 PM »
What's the cheapest way to send money back home. I have Woori Bank here in Korea and I got charged 35,000 krw (after the conversion) to send 125 USD to my American account. I need to pay loans so I'll need to send money home each month and it'll probably be a higher amount than that 125 USD.
Probably KEB's Easy One.  I find their fees to be reasonable, but I haven't shopped around recently.

If you're sending money home you really need to send large chunks.  125USD will be dwarfed by fees.  1000USD is better.  I usually send 5000USD when the rate is good, so as a percentage, the fees are small.

I just got here, I don't have 5000 USD :( Wish I did...

Offline orionchocopie

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Re: Sending/Transferring Money Home (FAQ)
« Reply #190 on: April 10, 2016, 07:33:06 PM »
What's the cheapest way to send money back home. I have Woori Bank here in Korea and I got charged 35,000 krw (after the conversion) to send 125 USD to my American account. I need to pay loans so I'll need to send money home each month and it'll probably be a higher amount than that 125 USD.
Probably KEB's Easy One.  I find their fees to be reasonable, but I haven't shopped around recently.

If you're sending money home you really need to send large chunks.  125USD will be dwarfed by fees.  1000USD is better.  I usually send 5000USD when the rate is good, so as a percentage, the fees are small.

I just got here, I don't have 5000 USD :( Wish I did...
Ah, sorry, that's not what I meant.  I save money and send it when the rate's good.  I've been here a couple of years, but I understand when you just arrive you only have whatever's in your pocket until your first paycheck.

Seriously though, the fees are similar for small amounts and large amounts, so send as much as you can to make it cost effective.  If you can send $500 then that would cover three payments of $125.  In those three months try to save as much as you can and then send maybe $1500 in one chunk, which would cover the rest of the year.  That's two fees instead of 12.  I know it's not that easy, but it's worth trying.

I hate banks.

Offline LaChaca

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Re: Sending/Transferring Money Home (FAQ)
« Reply #191 on: April 11, 2016, 01:57:40 PM »
You can definitely receive international wire transfer with Schwab. You have to transfer the money to your brokerage account, I promise you because I did it a week ago! Then, you can transfer the money from your brokerage to your checking which takes a couple of hours for the money to appear in that acct.

Thank you! Yeah, I made the mistake of linking my checking account and not my brokerage acct. Hopefully I can change it to the brokerage acct if I don't figure out another way.

Did you give your Korean bank the information for your brokerage or checking?

Checking
You should probably contact Schwab soon because you were suppose to give them your brokerage. You can do it anytime, just sign in online and they have a chat service!

Offline rhiannonsmada91

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Re: Sending/Transferring Money Home (FAQ)
« Reply #192 on: April 21, 2016, 10:29:59 AM »
Anybody have experience with the KEB global check card for sending money home?

Online JNM

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Re: Sending/Transferring Money Home (FAQ)
« Reply #193 on: April 27, 2016, 10:49:20 AM »
Anybody have experience with the KEB global check card for sending money home?

It only works in ATMs overseas, so you can't pay yourself through a credit card processor.


Offline korbit

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Re: Sending/Transferring Money Home (FAQ)
« Reply #194 on: May 16, 2016, 04:44:20 PM »
We just launched a new service called Korbit Global Transfer (https://globaltransfer.korbit.co.kr/) to make easier to remit money overseas. We currently support the Philippines, Australia and Eurozone. The funds in its local currency will be deposited directly to your bank account overseas and it also allows you to see exactly how much you will get with no extra hidden fees.

Offline ins0mniacattack

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Re: Sending/Transferring Money Home (FAQ)
« Reply #195 on: May 20, 2016, 07:32:45 PM »
has anyone recently tried to set up a citibank global remittance account? I've completed the online registration for internet banking, but I can't figure out how to connect my US Citibank account information to my Citibank Korea account. I've been searching everywhere with no luck! Please help!

Offline nermal

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Re: Sending/Transferring Money Home (FAQ)
« Reply #196 on: May 20, 2016, 10:26:39 PM »
has anyone recently tried to set up a citibank global remittance account? I've completed the online registration for internet banking, but I can't figure out how to connect my US Citibank account information to my Citibank Korea account. I've been searching everywhere with no luck! Please help!

If you can find the link to Citibank Global Transfers on the website, this link should be able to help you with the rest: http://jefferyma.blogspot.kr/2012/02/how-to-get-free-transfer-from-south.html

Did you ask the bank about remittances when you opened the account?

Offline ins0mniacattack

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Re: Sending/Transferring Money Home (FAQ)
« Reply #197 on: May 20, 2016, 11:20:22 PM »
has anyone recently tried to set up a citibank global remittance account? I've completed the online registration for internet banking, but I can't figure out how to connect my US Citibank account information to my Citibank Korea account. I've been searching everywhere with no luck! Please help!

If you can find the link to Citibank Global Transfers on the website, this link should be able to help you with the rest: http://jefferyma.blogspot.kr/2012/02/how-to-get-free-transfer-from-south.html

Did you ask the bank about remittances when you opened the account?

that link is exactly what I'm looking for. I've already signed up for Citibank Korea & have my internet banking all sorted, I just can't find the part where I set up my Korean account to my US account. So frustrating!!

Offline nermal

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Re: Sending/Transferring Money Home (FAQ)
« Reply #198 on: May 21, 2016, 01:44:30 PM »
has anyone recently tried to set up a citibank global remittance account? I've completed the online registration for internet banking, but I can't figure out how to connect my US Citibank account information to my Citibank Korea account. I've been searching everywhere with no luck! Please help!

If you can find the link to Citibank Global Transfers on the website, this link should be able to help you with the rest: http://jefferyma.blogspot.kr/2012/02/how-to-get-free-transfer-from-south.html

Did you ask the bank about remittances when you opened the account?

that link is exactly what I'm looking for. I've already signed up for Citibank Korea & have my internet banking all sorted, I just can't find the part where I set up my Korean account to my US account. So frustrating!!

You'll have to wait until monday as you can only do transfers during the week from 9am-10pm. If you make it through all the steps of that blog link I posted and it's still not working, call your bank and make sure you have remittances set up. Sorry I'm reiterating what I said before, but I just want to cover all bases.


Offline grey

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Re: Sending/Transferring Money Home (FAQ)
« Reply #199 on: June 21, 2016, 10:09:55 AM »
I just did an online transfer with KEB. The fee was identical to the atm transfer fee. 18,500.

Addition: Maybe my issue here. I transfered into my easyone account. Possibly if I send direct to my overseas account.
« Last Edit: June 21, 2016, 12:31:01 PM by grey »
Ko fills half his luggage with instant noodles for his international business travels, a lesson he learned after assuming on his first trip that three packages would suffice for six days. “Man, was I wrong. Since then, I always make sure I pack enough.”
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