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  • bb459
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    • March 02, 2019, 06:19:42 pm
    • South Korea
FOREIGN REMITTANCE HELP (new teacher - from US)
« on: April 08, 2019, 10:09:29 am »
Hello Teachers,
First post for me. Thanks in advance to all the helpful people on here.

My question is about sending money back home to my US bank account with Wells Fargo.

I live in Gangwon-Do and have NH bank. I set up my remittance account with them called an
NH One account. So basically when I transfer money into this account, it will automatically remit/send
money into my WF account back home. 

Just did my first *test* transfer on Saturday night of 120,000won...got a text from NH today saying that
77$ USD was remitted....ouch

Learned from a friend there are flat rate transfer fees and middle men and exchange rates etc...
and my best bet is to always send big amounts home so I get the most bang for my buck.
(only did this smaller one first as a test to see if it works)

Does anyone have any tricks or better ways of doing this? With less fees? an app? or...a different Korean bank to use?

Thanks in advance!

 
« Last Edit: April 08, 2019, 10:12:08 am by bb459 »