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California residents can't open Citibank Korea account?
« on: May 28, 2020, 12:17:58 pm »
So some backstory: my best friend is from California and I advised her to open a US Citibank account while still in the US and then open a Citibank Korea account when she got here, so she could have an easier time transferring money (and not incur such high fees). She opens the account and then she came over here, but she's near Daegu right as the outbreak hit so she hasn't been able to go to the Citibank in Daegu until now.

Fast forward to today, she takes a day off from work to go to Daegu and open the account. She goes in and they tell her she can't open an account because of a new law that came in effect on January 1st in California, the California Consumer Protection Act (CPPA), they also gave her this piece of paper as an 'explanation' (a picture of it is attached below) and she left and contacted me. I looked up the law and the website the piece of paper mentions and everything just says that California has a new law where the consumer now has the right to know where there personal information is being sent to, that's it. Nothing about "because of this law, Korean banks (or just Citibank) can no longer transfer money to Californian bank accounts" - I myself have a CA bank account that I remit my money to with KEB and have never had a problem.

She then went back later, with her co-teacher on the phone, and the bank tells the co-teacher the same thing, but then changes the story and says that there's another 'new law' that just came into effect 2 days ago, where Citibank Korea and Citibank USA are no longer affiliated, so she wouldn't get to take advantage of the Citibank Global Transfer service and would have to pay the regular transfer fees that other banks charge.  Again, this really has nothing to do with her wanting to open up a remittance account, either way. She later called the Citibank Korea customer service line and they told her the same thing about it only being a California-based problem and if she were from another state she "possibly" (their words) would have been able to open an account.

I'm just wondering, has anybody from California specifically been able to open a Citibank Korea account within the last 5 months, since the CPPA came into effect on January 1st? Or have you heard anything about this at all? Because there is nothing in the announcement on their website and I'm not finding anything about this anywhere else.