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  • lazuli1
  • Adventurer

    • 42

    • January 09, 2013, 07:29:33 am
    • South Korea
Re: Sending/Transferring Money Home (FAQ)
« Reply #120 on: December 25, 2013, 06:23:51 pm »
got it. Form 8938. And you right, according to the website, it looks like the limit is $50,000.


Re: Sending/Transferring Money Home (FAQ)
« Reply #121 on: February 14, 2014, 01:09:58 pm »
I have a question...I think others probably answered it before but I am still a little confused. My school has told me to open up a Easy One Account with KEB so the school can deposit my severance money in there...which can then be automatically transferred to my home account with Easy One.

I have read many threads about using only 1 account for wiring money home. I currently have an account with NH. I've set up overseas remittance with this account. However, when I phoned and asked KEB, they said that if the account is not an overseas remittance account, then I don't need to worry about it.

Is this true? Should I cancel the service for overseas remittance at NH?


  • lorzua
  • Explorer

    • 8

    • August 29, 2011, 08:56:27 am
    • Gangwon, South Korea
Re: Sending/Transferring Money Home (FAQ)
« Reply #122 on: February 26, 2014, 09:13:05 am »
Question,
Has anyone been able to successful transfer money back home using the new online NH layout and changes? I have tried multiple times and it keeps giving me errors. Help please. Thank you!! ^^


  • Jet0716
  • Veteran

    • 130

    • March 29, 2014, 07:58:25 am
    • WI, USA (Hopefully Jinju soon)
Re: Sending/Transferring Money Home (FAQ)
« Reply #123 on: April 01, 2014, 10:18:46 pm »
Uh, hi.  Sorry to not answer any questions and instead add another but, i haven't actually moved to korea yet.  Shouldn't i just get my citi bank account before i leave?  Then i can use the same on in korea right?


Re: Sending/Transferring Money Home (FAQ)
« Reply #124 on: April 02, 2014, 09:06:47 am »
Uh, hi.  Sorry to not answer any questions and instead add another but, i haven't actually moved to korea yet.  Shouldn't i just get my citi bank account before i leave?  Then i can use the same on in korea right?

The link below is most relevant to you.   I would recommend it with one caveat.  Outside of large cities like Busan, Daegu, Changwon and Seoul, it will not be that easy to find a Korean Citibank.  This is especially true if you are located in a country location.  That is not to discourage you, but  you have to go, in person, to open an account. So, plan a day for that. 

http://www.waygook.org/index.php/topic,42717.0/nowap.html
You are never guaranteed happiness, only the right to pursue it.  So, what are you waiting for?  Get going!


  • willeb01
  • Newgookin

    • 4

    • August 26, 2013, 09:58:53 pm
    • Gyeongju
Re: Sending/Transferring Money Home (FAQ)
« Reply #125 on: June 16, 2014, 07:50:05 pm »
Hey People of Waygook!
I am leaving this coming August and I have an account with KB bank. Does anyone know or have any experience in having KB wire money to your home account overseas after you have left Korea? I have wired money before with KB and had no problem. I am just curious about KB sending money (my severance pay and exit allowance) after I am no longer in the county. Thanks!


  • Space
  • The Legend

    • 2288

    • May 09, 2012, 10:11:12 pm
Re: Sending/Transferring Money Home (FAQ)
« Reply #126 on: June 16, 2014, 08:26:26 pm »
Hey People of Waygook!
I am leaving this coming August and I have an account with KB bank. Does anyone know or have any experience in having KB wire money to your home account overseas after you have left Korea? I have wired money before with KB and had no problem. I am just curious about KB sending money (my severance pay and exit allowance) after I am no longer in the county. Thanks!

Can you give your school your overseas account details? I had a friend who set up an international card with Nonghyup ready for when she left. It never worked abroad and she couldn't access it online. After weeks of talking to them about it. She sent me the card with some chocolate and I transferred it into my account before wiring it to her home account. I won't lie. I was a little stressed and thought something would go wrong (it was a lot of money).  If you don't have anyone you can trust with this, maybe consider using your home account details for the final payments. 


  • willeb01
  • Newgookin

    • 4

    • August 26, 2013, 09:58:53 pm
    • Gyeongju
Re: Sending/Transferring Money Home (FAQ)
« Reply #127 on: June 17, 2014, 07:46:58 am »
Hey People of Waygook!
I am leaving this coming August and I have an account with KB bank. Does anyone know or have any experience in having KB wire money to your home account overseas after you have left Korea? I have wired money before with KB and had no problem. I am just curious about KB sending money (my severance pay and exit allowance) after I am no longer in the county. Thanks!

Can you give your school your overseas account details? I had a friend who set up an international card with Nonghyup ready for when she left. It never worked abroad and she couldn't access it online. After weeks of talking to them about it. She sent me the card with some chocolate and I transferred it into my account before wiring it to her home account. I won't lie. I was a little stressed and thought something would go wrong (it was a lot of money).  If you don't have anyone you can trust with this, maybe consider using your home account details for the final payments.
[/quote

Thanks! I will talk to my school about sending the money to my account back home.


  • JWilly
  • Adventurer

    • 55

    • February 24, 2012, 06:40:19 pm
    • South Korea
Re: Sending/Transferring Money Home (FAQ)
« Reply #128 on: June 17, 2014, 08:01:15 am »
I have a question...I think others probably answered it before but I am still a little confused. My school has told me to open up a Easy One Account with KEB so the school can deposit my severance money in there...which can then be automatically transferred to my home account with Easy One.

I have read many threads about using only 1 account for wiring money home. I currently have an account with NH. I've set up overseas remittance with this account. However, when I phoned and asked KEB, they said that if the account is not an overseas remittance account, then I don't need to worry about it.

Is this true? Should I cancel the service for overseas remittance at NH?

Yes!!! Cancel the service at NH. It's pointless if you have a KEB Easy One anyway. All you'd do now, is transfer money from your NH to your KEB Easy One, electronically or at the ATM. It's pretty much the same thing at the end of the day. You'd probably also save about 50$ on every 1000$ you send home.


  • Space
  • The Legend

    • 2288

    • May 09, 2012, 10:11:12 pm
Re: Sending/Transferring Money Home (FAQ)
« Reply #129 on: June 17, 2014, 09:18:50 am »
I have a question...I think others probably answered it before but I am still a little confused. My school has told me to open up a Easy One Account with KEB so the school can deposit my severance money in there...which can then be automatically transferred to my home account with Easy One.

I have read many threads about using only 1 account for wiring money home. I currently have an account with NH. I've set up overseas remittance with this account. However, when I phoned and asked KEB, they said that if the account is not an overseas remittance account, then I don't need to worry about it.

Is this true? Should I cancel the service for overseas remittance at NH?

Yes!!! Cancel the service at NH. It's pointless if you have a KEB Easy One anyway. All you'd do now, is transfer money from your NH to your KEB Easy One, electronically or at the ATM. It's pretty much the same thing at the end of the day. You'd probably also save about 50$ on every 1000$ you send home.

I don't know why I didn't think of this.
Willeb01, this sounds like a good idea if they won't take your overseas account details. I have an easy one and funds that get deposited in this Korean KEB account immediately get transferred to whatever home account is set up on it. If you're already with KEB, it's not too hard to set up.

Good post.


Re: Sending/Transferring Money Home (FAQ)
« Reply #130 on: June 28, 2014, 09:33:36 am »
Lots of useful information on this thread, but I do have one question.

Has anybody sent money to a British bank from KEB? Does it convert directly from KRW into GBP?

NH had me trapped between the KRW-US$ and US$-GBP exchange rates.

Many thanks in advance.


  • Pecan
  • The Legend

    • 3769

    • December 27, 2010, 09:14:44 am
    • Seoul
Re: Sending/Transferring Money Home (FAQ)
« Reply #131 on: June 28, 2014, 11:42:52 pm »
Using Easy One has been a headache for me, so I was looking for a better way to get my money from Korea to the US.

One of my banking institutions back home allows for banking at home with no fee, so I thought I would give it a try.  I purchased a cashier's check for the maximum amount allowed by USAA from KEB, scanned it, and to my surprise, the funds were made immediately available to my account.

I was given a preferential rate/discount on the exchange when buying the check, which was better than the wiring/Easy one rate, the T/C rate, etc., and the check fee was just 10,000 Korean won.

If someone knows of a better or faster way, please post it, as I am trying to move a substantial amount of money in the best way.

For now, I am going to stick with banking at home to scan and deposit $10,000 for just $10 a pop.  It was fast and easy, but more importantly, the rate of exchange for the cashier's check was better than the other options.

As for ATMs, using KEB to withdraw money from abroad is expensive when you add up the KEB fee, the ATM fee, and the dreaded 1% Visa fee, as it is not calculated as a withdrawal, but as a purchase.

Example: withdrawing $500 will cost you $10

Fine for a one-off transaction, but costly as a means to get a substantial amount converted.


  • hick
  • Adventurer

    • 34

    • February 22, 2013, 05:53:55 pm
    • Korea
Re: Sending/Transferring Money Home (FAQ)
« Reply #132 on: June 29, 2014, 12:34:20 pm »
Yes waygookinhanguk, I have sent money using KEB back to the UK.

I used the KEB easy one account and found it to be very good.
They sent the money immediately, with a low sending fee and the money was converted directly from KRW to GBP.


Re: Sending/Transferring Money Home (FAQ)
« Reply #133 on: July 01, 2014, 10:00:29 am »
Yes waygookinhanguk, I have sent money using KEB back to the UK.

I used the KEB easy one account and found it to be very good.
They sent the money immediately, with a low sending fee and the money was converted directly from KRW to GBP.

Thank you hick.


  • neeps
  • Adventurer

    • 31

    • July 01, 2014, 09:39:10 am
    • South Korea
Re: Sending/Transferring Money Home (FAQ)
« Reply #134 on: July 01, 2014, 11:46:05 am »
Hey People of Waygook!
I am leaving this coming August and I have an account with KB bank. Does anyone know or have any experience in having KB wire money to your home account overseas after you have left Korea? I have wired money before with KB and had no problem. I am just curious about KB sending money (my severance pay and exit allowance) after I am no longer in the county. Thanks!

I asked KB if I could schedule an overseas remittance ahead of time, and they told me no. I'm guessing the best bet would to do it online.


  • Hot6^
  • Hero of Waygookistan

    • 1759

    • March 14, 2014, 02:46:01 pm
    • Bucheon
Re: Sending/Transferring Money Home (FAQ)
« Reply #135 on: July 01, 2014, 02:21:15 pm »
OKay, So I am with KB bank. I have scrolled through this thread but was un-able to find what I needed.

I read here that some of you can transfer back home using the KB ATM; just like you would make a normal transfer. HOW DID YOU DO THIS?

I went into my KB today, I told them I want to setup international transfer. They didn't know what the hell I was talking about. They gave me the remittance form. I said okay, will have to come into the bank and fill out a form every time? They said yes. They told me I can't transfer to an account in America through the ATM.

How were you able to set this up?
What you put into Korea, is what you will get out of Korea; it will not spoon feed you.


  • mirokii
  • Super Waygook

    • 371

    • August 24, 2013, 09:49:32 pm
    • Daegu
Re: Sending/Transferring Money Home (FAQ)
« Reply #136 on: September 05, 2014, 03:20:36 pm »
Easy one account. I transfer 1,000,000 krw and the final amount received after all fees in my bank account in the US is 940 usd.  I believe wells fargo takes a 16 dollar fee and so does keb, but 60 dollar reduction, even considering the exchange rate and fees, seems heavy. unless my math is wrong or ive missed something. is everyone else using easy one receiving similar results?
-kimsungil


  • mirokii
  • Super Waygook

    • 371

    • August 24, 2013, 09:49:32 pm
    • Daegu
Re: Sending/Transferring Money Home (FAQ)
« Reply #137 on: October 16, 2014, 08:27:13 pm »
Just sent 2 mil krw back with keb easy-one. 1820usd was in my bank back home. am i doing something wrong or is this standard???
-kimsungil


  • KirbyOwnz
  • Veteran

    • 136

    • March 01, 2013, 11:17:05 am
    • Geoje Island
Re: Sending/Transferring Money Home (FAQ)
« Reply #138 on: November 05, 2014, 07:50:21 am »
Easy one account. I transfer 1,000,000 krw and the final amount received after all fees in my bank account in the US is 940 usd.  I believe wells fargo takes a 16 dollar fee and so does keb, but 60 dollar reduction, even considering the exchange rate and fees, seems heavy. unless my math is wrong or ive missed something. is everyone else using easy one receiving similar results?

This sounds about right.  I forgot that they take fees because I literally entered this topic to ask why when I sent 100,000 won back home it only gave me 67 dollars.   I wanted to "test the water" so I guess that was a stupid option.  I use wells fargo too.


  • mikeD
  • Super Waygook

    • 417

    • March 31, 2013, 07:46:49 pm
    • Geoje, South Korea
Re: Sending/Transferring Money Home (FAQ)
« Reply #139 on: November 05, 2014, 07:53:50 am »
Easy one account. I transfer 1,000,000 krw and the final amount received after all fees in my bank account in the US is 940 usd.  I believe wells fargo takes a 16 dollar fee and so does keb, but 60 dollar reduction, even considering the exchange rate and fees, seems heavy. unless my math is wrong or ive missed something. is everyone else using easy one receiving similar results?

This sounds about right.  I forgot that they take fees because I literally entered this topic to ask why when I sent 100,000 won back home it only gave me 67 dollars.   I wanted to "test the water" so I guess that was a stupid option.  I use wells fargo too.


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