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  • OnNut81
  • Expert Waygook

    • 918

    • April 01, 2011, 03:01:41 pm
    • Anyang
Re: Do you prefer using cash or card?
« Reply #60 on: November 05, 2019, 07:42:42 am »
Lazio:I never said foreginers can't get credit cards.

You're right, all you said was "And while for Koreans, getting a credit card is easy as picking up a carton of milk from the supermarket, it is super difficult for foreigners." 

You now have several examples of foreigners describing how it has been super EASY for them to get a credit card so you know longer have to feel sorry for the poor E2s.  That should be a load off. 


Re: Do you prefer using cash or card?
« Reply #61 on: November 05, 2019, 07:49:47 am »
Aren't the tax benefits greater if you pay for things with cash over card?

I remember someone telling me that, once. You can get a bigger return (or owe less money) if you pay for most of your shit using cash. You just need to get that card and app to keep track of the transactions, or visit the tax office with all of the relevant receipts to get them inputted into the system.

I haven't tried it because it's burdensome to always have cash on hand, but I knew a guy who swore by it.

I use my card almost exclusively as it makes a huge difference at tax time because of what has been mentioned above.  Last year I paid 20 something thousand and less than 50 the year before when it came time to pony up for end of the year tax returns.  If you are going to pay cash you need to go get one of those NTS cards from the tax office and use that when you pay cash. 

This exactly. If you want to save at tax time use the NTS cash card and ask for a 현금영수증 when using cash. If you get that card it makes it easy because everyone knows what it is. Just hand them the card with the cash. OR use a credit card, and all of your expenditures from either one will be on the year end tax site. I went from having to settle like an 800,000won bill (Long ago) to now getting a bit of money back.


Re: Do you prefer using cash or card?
« Reply #62 on: November 05, 2019, 07:54:29 am »
Aren't the tax benefits greater if you pay for things with cash over card?

I remember someone telling me that, once. You can get a bigger return (or owe less money) if you pay for most of your shit using cash. You just need to get that card and app to keep track of the transactions, or visit the tax office with all of the relevant receipts to get them inputted into the system.

I haven't tried it because it's burdensome to always have cash on hand, but I knew a guy who swore by it.

Maybe someone already explained this, but it works like this:

If you spend over X% of your total taxable income using a combination of check card, credit card, and/or cash with 현금영수증 cash receipt, Y% of that will count as tax deductible. It gets complicated because the deductible rates vary for each type (check, credit, or cash with receipt), with I believe cash with receipt giving the most benefit. Also, I believe if you have an ARC and pay taxes, you're automatically registered in the cash receipt system, so even without one of the NTS cards, you can still enter your phone number when you pay, and the cash receipt will be recorded. At least that's how it works for me. And a lot of smaller places that only accept cash will be reluctant to give you the cash receipt option, even though that's technically illegal.



  • stoot
  • Adventurer

    • 25

    • September 01, 2010, 08:48:01 pm
Re: Do you prefer using cash or card?
« Reply #63 on: November 05, 2019, 08:04:44 am »
Aren't the tax benefits greater if you pay for things with cash over card?

I remember someone telling me that, once. You can get a bigger return (or owe less money) if you pay for most of your shit using cash. You just need to get that card and app to keep track of the transactions, or visit the tax office with all of the relevant receipts to get them inputted into the system.

I haven't tried it because it's burdensome to always have cash on hand, but I knew a guy who swore by it.

Maybe someone already explained this, but it works like this:

If you spend over X% of your total taxable income using a combination of check card, credit card, and/or cash with 현금영수증 cash receipt, Y% of that will count as tax deductible. It gets complicated because the deductible rates vary for each type (check, credit, or cash with receipt), with I believe cash with receipt giving the most benefit. Also, I believe if you have an ARC and pay taxes, you're automatically registered in the cash receipt system, so even without one of the NTS cards, you can still enter your phone number when you pay, and the cash receipt will be recorded. At least that's how it works for me. And a lot of smaller places that only accept cash will be reluctant to give you the cash receipt option, even though that's technically illegal.



Money spent on public transportation or in traditional markets offers the biggest benefits and this is regardless of cash or card. Cash and debit/check cards are treated the same and have a greater benefit than credit card spending.


Re: Do you prefer using cash or card?
« Reply #64 on: November 05, 2019, 10:39:01 am »
Aren't the tax benefits greater if you pay for things with cash over card?

I remember someone telling me that, once. You can get a bigger return (or owe less money) if you pay for most of your shit using cash. You just need to get that card and app to keep track of the transactions, or visit the tax office with all of the relevant receipts to get them inputted into the system.

I haven't tried it because it's burdensome to always have cash on hand, but I knew a guy who swore by it.
how's that work?

I don't know the ins or outs of it, only what a friend told me a couple of years back. Said you get a larger deductible or something like that.

I thought it was the opposite? As by using a credit card there is a verifiable paper trail of where your money has gone.
That's why anytime ive got some sort of maintenance service for my car, air-con, boiler etc, they always offer me a decent discount if i pay in cash. Easy way for them to avoid the tax man.

That's why you have to bring receipts to the tax office or use the tax card -- to keep track of how much money is spent and where.

I use my card almost exclusively as it makes a huge difference at tax time because of what has been mentioned above.  Last year I paid 20 something thousand and less than 50 the year before when it came time to pony up for end of the year tax returns.  If you are going to pay cash you need to go get one of those NTS cards from the tax office and use that when you pay cash.

You mean your credit card or debit card?

And yes, it's the NTS card that I was thinking about for cash payments.

Also, if your apartment lease is in your name, you can register your rental payments under cash payments at the tax office. Foreigners aren't entitled to get the rent deduction, but they can still get the cash deduction.
« Last Edit: November 05, 2019, 10:41:13 am by Chinguetti »


Re: Do you prefer using cash or card?
« Reply #65 on: November 05, 2019, 10:43:05 am »
Maybe someone already explained this, but it works like this:

If you spend over X% of your total taxable income using a combination of check card, credit card, and/or cash with 현금영수증 cash receipt, Y% of that will count as tax deductible. It gets complicated because the deductible rates vary for each type (check, credit, or cash with receipt), with I believe cash with receipt giving the most benefit. Also, I believe if you have an ARC and pay taxes, you're automatically registered in the cash receipt system, so even without one of the NTS cards, you can still enter your phone number when you pay, and the cash receipt will be recorded. At least that's how it works for me. And a lot of smaller places that only accept cash will be reluctant to give you the cash receipt option, even though that's technically illegal.

Okay, yeah, this is about how it was explained to me before, but I couldn't remember the details, lol.


Re: Do you prefer using cash or card?
« Reply #66 on: November 05, 2019, 11:31:28 am »
Maybe someone already explained this, but it works like this:

If you spend over X% of your total taxable income using a combination of check card, credit card, and/or cash with 현금영수증 cash receipt, Y% of that will count as tax deductible. It gets complicated because the deductible rates vary for each type (check, credit, or cash with receipt), with I believe cash with receipt giving the most benefit. Also, I believe if you have an ARC and pay taxes, you're automatically registered in the cash receipt system, so even without one of the NTS cards, you can still enter your phone number when you pay, and the cash receipt will be recorded. At least that's how it works for me. And a lot of smaller places that only accept cash will be reluctant to give you the cash receipt option, even though that's technically illegal.

Okay, yeah, this is about how it was explained to me before, but I couldn't remember the details, lol.

It's okay. Nobody knows all the details.

I also didn't know you could register your rent payments as a cash expenditure. Well, I did, but I always figured landlords would get pissy about it.

Also, waygook.org user stoot is correct - public transportation and traditional markets do give the highest percentage deductible.


  • OnNut81
  • Expert Waygook

    • 918

    • April 01, 2011, 03:01:41 pm
    • Anyang
Re: Do you prefer using cash or card?
« Reply #67 on: November 05, 2019, 12:09:24 pm »
Chinguetti: You mean your credit card or debit card?

Debit card. 


  • hangook77
  • Hero of Waygookistan

    • 1306

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: Do you prefer using cash or card?
« Reply #68 on: November 05, 2019, 12:58:28 pm »
If you are registered for online banking with that yessign thingee, you should be able to print off your debit and credit (Korean) purchases for the year and get a tax deduction.  Reduce taxes at the end of the year.  It can be done with cash if you register your phone number at the tax office or if you have a swipe card when you pay cash from the tax office.  Paying out cash with no trace means you pay more tax at the end of the year.  Of course if you're making hand over fist in cash in the black market, then by all means pay cash and let it be untraceable.  (Even some smaller merchants give discounts if you pay physical cash.  IE  Not charging you the tax and then pocket it.) 

I do try to have 20,000 won in my wallet just in cash, but use my card more and more. 


  • hangook77
  • Hero of Waygookistan

    • 1306

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: Do you prefer using cash or card?
« Reply #69 on: November 05, 2019, 01:04:47 pm »
I'll add the Korean credit card use to be hard to get.  Nowadays is easy for foreigners.  As I understand it, most have non revolving balances and limits are low.  You pretty much have to live close to living on cash.  You pay little interest and get points depending on what card you have or discounts.  Canadian cards have higher credit limits and higher interest rates.  Balances are revolving and you build your credit score back home (sort of).  You can use the Canadian one in many different countries.  The Korean one use to restrict it for foreigners to use only in Korea.  May not be that way anymore.  Pros and cons I guess. 


  • OnNut81
  • Expert Waygook

    • 918

    • April 01, 2011, 03:01:41 pm
    • Anyang
Re: Do you prefer using cash or card?
« Reply #70 on: November 05, 2019, 01:21:17 pm »
I'll add the Korean credit card use to be hard to get.  Nowadays is easy for foreigners.  As I understand it, most have non revolving balances and limits are low.  You pretty much have to live close to living on cash.  You pay little interest and get points depending on what card you have or discounts.  Canadian cards have higher credit limits and higher interest rates.  Balances are revolving and you build your credit score back home (sort of).  You can use the Canadian one in many different countries.  The Korean one use to restrict it for foreigners to use only in Korea.  May not be that way anymore.  Pros and cons I guess. 

They definitely were harder to get a while back but it has been a number of years that a credit card of some sort has been fairly easily accessible.  I use my Lotte Mastercard as my main one as KEB initially gave me a less than 2 million Won limit and Lotte started me at 4.8.  The interest is pretty low and I've split payments up to three months previously.   I've used it without problem in Canada, the U.S. and Europe. They do have an English help line so there must be a number of people who have the card, but the fact that I seem to get the same woman every time who recognises me now suggests there can't be that many.  You have to give your place of work when you call as verification and last time I called I recognised her voice and just gave out my place of work before she asked and she laughed and said thanks.  A year or two back I just asked if they could up my limit and she did immediately by 3 million Won and asked if that was good or if I required a higher limit. I got my card at a kiosk at A Lotte Super and at the time the woman told me I should pass on her number to other people that might want a card.  I would be interested to hear if it's still an easy card for foreigners to get.

To get back on topic I always carry some cash but other small purchases like a water, Costco buys or getting coins at the laundromat it takes a long time before I need to replenish my cash . 


  • hangook77
  • Hero of Waygookistan

    • 1306

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: Do you prefer using cash or card?
« Reply #71 on: November 05, 2019, 01:31:44 pm »
I'll add the Korean credit card use to be hard to get.  Nowadays is easy for foreigners.  As I understand it, most have non revolving balances and limits are low.  You pretty much have to live close to living on cash.  You pay little interest and get points depending on what card you have or discounts.  Canadian cards have higher credit limits and higher interest rates.  Balances are revolving and you build your credit score back home (sort of).  You can use the Canadian one in many different countries.  The Korean one use to restrict it for foreigners to use only in Korea.  May not be that way anymore.  Pros and cons I guess. 

They definitely were harder to get a while back but it has been a number of years that a credit card of some sort has been fairly easily accessible.  I use my Lotte Mastercard as my main one as KEB initially gave me a less than 2 million Won limit and Lotte started me at 4.8.  The interest is pretty low and I've split payments up to three months previously.   I've used it without problem in Canada, the U.S. and Europe. They do have an English help line so there must be a number of people who have the card, but the fact that I seem to get the same woman every time who recognises me now suggests there can't be that many.  You have to give your place of work when you call as verification and last time I called I recognised her voice and just gave out my place of work before she asked and she laughed and said thanks.  A year or two back I just asked if they could up my limit and she did immediately by 3 million Won and asked if that was good or if I required a higher limit. I got my card at a kiosk at A Lotte Super and at the time the woman told me I should pass on her number to other people that might want a card.  I would be interested to hear if it's still an easy card for foreigners to get.

To get back on topic I always carry some cash but other small purchases like a water, Costco buys or getting coins at the laundromat it takes a long time before I need to replenish my cash . 

Yeah, my first 2 or 3 years were like me being a homeless bum or something.  Us dirty waygooks were unworthy and when we were lucky enough to get one had extreme restrictions.  But I have Canadian cards, so just took a screw them attitude.  I didn't need them.  But, I have heard in recent years it has been easier.  Your terms are more generous than I have realized.  (I still don't like having to pay it off more quickly or just do it in 3 payments.  Sometimes a large purchase takes a while to pay off and you need the time.)  At any rate, I may try to get a Korean card someday.  I guess I have had the internet in my name for many many years in my own name.  (Reminds me when I got a phone years ago first time, I even had to give a 300,000 deposit to get phone service because a dirty waygook couldn't be trusted.)


  • Mezoti97
  • The Legend

    • 2684

    • April 14, 2011, 03:02:50 pm
    • South Korea
Re: Do you prefer using cash or card?
« Reply #72 on: November 05, 2019, 03:07:10 pm »
Also, if your apartment lease is in your name, you can register your rental payments under cash payments at the tax office. Foreigners aren't entitled to get the rent deduction, but they can still get the cash deduction.

How do you do this?


Re: Do you prefer using cash or card?
« Reply #73 on: November 05, 2019, 03:45:00 pm »
Also, if your apartment lease is in your name, you can register your rental payments under cash payments at the tax office. Foreigners aren't entitled to get the rent deduction, but they can still get the cash deduction.

How do you do this?

This is another thing I don't remember all of the details for. I just remember being told  that you need to visit the tax office with a copy of your lease (necessary to prove the amount of rent you're paying as well as the fact that you're the one who's supposed to be living there), and then they can input the info into the system.

If the lease isn't in your name, then either the landlord or the lease holder must visit the tax office with you to officially confirm that you're the one paying (I guess this would be most important to E2s who're living in a school-provided apartment but are receiving the monthly stipend to pay for the rent themselves).
« Last Edit: November 05, 2019, 03:49:13 pm by Chinguetti »


  • Mezoti97
  • The Legend

    • 2684

    • April 14, 2011, 03:02:50 pm
    • South Korea
Re: Do you prefer using cash or card?
« Reply #74 on: November 05, 2019, 04:37:45 pm »
This is another thing I don't remember all of the details for. I just remember being told  that you need to visit the tax office with a copy of your lease (necessary to prove the amount of rent you're paying as well as the fact that you're the one who's supposed to be living there), and then they can input the info into the system.

If the lease isn't in your name, then either the landlord or the lease holder must visit the tax office with you to officially confirm that you're the one paying (I guess this would be most important to E2s who're living in a school-provided apartment but are receiving the monthly stipend to pay for the rent themselves).

Oh, I see -- thanks for the info. My name is on my lease and I am an F-visa holder, although I don't think I can do this, unfortunately.