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  • livingkorean
  • Adventurer

    • 51

    • March 05, 2012, 05:44:33 pm
    • Gayaeup, Haman County, Gyeongnam, South Korea
Re: Sending/Transferring Money Home (FAQ)
« Reply #60 on: March 13, 2012, 02:42:10 pm »
It should automatically convert your money to won when you withdraw money from your US account at a Korean ATM.

Oh, okay! Now I feel stupid not knowing that.


  • _Omiak_
  • Veteran

    • 105

    • February 29, 2012, 08:16:39 pm
    • Gwangju, SK
Re: Sending/Transferring Money Home (FAQ)
« Reply #61 on: March 14, 2012, 12:20:11 pm »
No worries.


Re: Wiring / Transferring Large Sums of Money From Korea To Home
« Reply #62 on: March 17, 2012, 04:40:27 pm »
Hey! I'm Australian too, and I'm just going to open a Citibank account over here, to transfer back to my Citibank at home. It costs us like $15 to receive the funds too, so I really don't want to pay that. Apparently Citibank to Citibank is free, as mentioned previously.

You can open an account online, too, so you should look into it :P

Hey thanks buddy :D  I looked into opening a citibank account but had problems accessing the website when I was in Australia (on top of which I had read some rather unflattering emails about the banks service/rep) - I'm still considering it but we'll see. 

I've only just arrived in Korea and have been in Ansan for three days, lol. 

Where in Oz are you from? (I'm from Melbourne)

Nice to chat to a fellow aussie - let me know if you ever want to catch up,

Cheers,

Geeta


Re: Wiring / Transferring Large Sums of Money From Korea To Home
« Reply #63 on: April 04, 2012, 10:59:47 pm »
I've said this a million times. Citibank.

Giant evil bank or not, you can send $50,000 a year, up to $10,000 a day for 4,000 won. I'm going to do what's best for my wallet while I'm here and my loans are getting paid back home.

You can open an account in the states all online. Then once you have your account number, open an account here. You can also transfer everything online. Piece of cake, and always a decent exchange rate.

Tada!

I have a U.S. Citibank account but unfortunately, I live a small town where there's no Citibank branches so my CT already set me up with NH. Since the banks here are only open weekdays 9 to 4 when we have to be at work, (I guess we take for granted that most banks are open on weekends in the U.S.) he drove me the the nearest NH branch which is 20 minutes away to set me up.
And we cannot set up a Korean bank account online. I'd hate to ask him to drive me again during school hours to the nearest Citibank which is about 30 minutes away.  So I can't really get to a Citibank when they are open and even if I could, I'd probably need a translator.
 
Just saying. . it's not quite a piece of cake , especially if you're not in the big city.


  • mogbert
  • Veteran

    • 149

    • October 25, 2010, 10:12:37 am
    • Goheung
Re: Sending/Transferring Money Home (FAQ)
« Reply #64 on: May 02, 2012, 11:20:30 am »
After reading this thread, I decided to give Citibank Korea a shot.  I opened both a Citibank account in Korea as well as in the States for the sole purpose of bypassing costly fees. 

Although the process hit a few bumps along the way, I'm very happy with paying 0won for transferring!

A few things you made need to know before doing this:

If you've ever transferred money overseas with NH or any other bank, you must ask Citibank to designate Citibank as your main global transfer bank.  Remember to do this while at the branch, especially if you don't live in a city with a Citibank.

You can only have one bank you can do online banking with in Korea.  So you must cancel your NH internet banking if you had one set up.

I think that's about it.  I did it, saw a 0 won fee. And the money showed up in my US account pretty much instantly.

Good luck!


  • gangwon
  • Fanatical Supporter!

    • 224

    • February 24, 2011, 08:07:24 am
    • Gangwon Do
Re: Sending/Transferring Money Home (FAQ)
« Reply #65 on: May 02, 2012, 02:44:14 pm »
You can only have one bank you can do online banking with in Korea.  So you must cancel your NH internet banking if you had one set up.

Are you sure about this? I have NH and KB and do online banking with both of them using the same security certificate.


opening checking account without ARC
« Reply #66 on: May 02, 2012, 02:46:09 pm »
I wanted to get a KEB account, but my co-teacher said that it's impossible for me to get checking account without an ARC. Everyone I knew had got one without their ARC. Is there any other possible way I can get a checking account without the help of my co-teacher? Does any KEB representative speaks English?


  • mogbert
  • Veteran

    • 149

    • October 25, 2010, 10:12:37 am
    • Goheung
Re: Sending/Transferring Money Home (FAQ)
« Reply #67 on: May 02, 2012, 02:54:14 pm »
You can only have one bank you can do online banking with in Korea.  So you must cancel your NH internet banking if you had one set up.

Are you sure about this? I have NH and KB and do online banking with both of them using the same security certificate.

Oh!  I don't know but they had me cancel my NH online banking to do it with Citibank. 


  • Sticks
  • Veteran

    • 219

    • May 11, 2011, 03:27:45 pm
    • Cheonan/Ansan, Korea
Re: Sending/Transferring Money Home (FAQ)
« Reply #68 on: May 03, 2012, 08:58:46 pm »
You can only have one bank you can do online banking with in Korea.  So you must cancel your NH internet banking if you had one set up.

Are you sure about this? I have NH and KB and do online banking with both of them using the same security certificate.

Oh!  I don't know but they had me cancel my NH online banking to do it with Citibank.
Odd. You can have multiple online banking with any number of banks afaik. Even the login certificate for KEB online banking asks if I want to use another financial institution's security certificate. You can only have one designated account to transfer money overseas though, maybe that was it?

I wanted to get a KEB account, but my co-teacher said that it's impossible for me to get checking account without an ARC. Everyone I knew had got one without their ARC. Is there any other possible way I can get a checking account without the help of my co-teacher? Does any KEB representative speaks English?
Ignore your Co-T. Just walk into any KEB branch, grab a ticket, wait for your number, hand the teller your passport (and maybe a copy of your contract?) and say checking account. Make sure it's an "Expat Savings Account." You can add more bells and whistles after you get your arc.


  • Edmond
  • Explorer

    • 5

    • March 05, 2012, 01:08:23 pm
    • Yeongju, Gyeongsangbuk-do, South Korea
Re: Sending/Transferring Money Home (FAQ)
« Reply #69 on: June 18, 2012, 09:00:30 am »
Any help on how to get set up with the online banking?  Maybe I'm a bit computer illiterate but I'm not quite sure how to do the NH online banking. 
Doing the transfer home to America through NH is a bit pricey.  It was 18,000W last time.  Not sure where they got that number.  It also takes about 20 minutes still.  Online would be much nicer!


Re: Sending/Transferring Money Home (FAQ)
« Reply #70 on: June 22, 2012, 12:38:40 am »
Does anyone have any information about transferring money from an Woori Bank account? How do they fare compared to KEB? I already have an Woori Bank account but I suppose if KEB has less fees than I can open an account there...


  • starrheinz
  • Newgookin

    • 4

    • July 03, 2012, 06:03:31 am
    • Ulsan, South Korea
Re: Sending/Transferring Money Home (FAQ)
« Reply #71 on: July 08, 2012, 04:53:38 pm »
I have just arrived here and have been told that I have receive my ARC card before I can open a bank account. Is this true, that you can open an account with KEB without having an ARC card?


  • jupinkorea
  • Super Waygook

    • 323

    • June 04, 2012, 05:25:32 pm
    • Seoul
    more
Re: Sending/Transferring Money Home (FAQ)
« Reply #72 on: July 14, 2012, 12:00:24 pm »
I have just arrived here and have been told that I have receive my ARC card before I can open a bank account. Is this true, that you can open an account with KEB without having an ARC card?

Yeah the ARC is the key to most things here. From phones to banks yada yada
"North Korea everything sunny all the time, always good time, beach party" Johnny Mountain


Re: Sending/Transferring Money Home (FAQ)
« Reply #73 on: August 05, 2012, 06:19:20 pm »
For: anyone who's set up a citibank account online IN THE UK: what's the name of the account I am trying to open?


  • lynch
  • Explorer

    • 5

    • October 10, 2011, 02:06:04 pm
    • Seoul, South Korea
Re: Sending/Transferring Money Home (FAQ)
« Reply #74 on: August 09, 2012, 07:58:51 pm »
KEB will ask you for your passport, sometimes so I would suggest bringing it. Also for anybody sending money to Ireland via KEB, the money is first sent to England and then Ireland. Your money is changed into british sterling and then into Euro. You you do pay a large amount.


Re: Sending/Transferring Money Home (FAQ)
« Reply #75 on: August 28, 2012, 06:06:56 pm »
Wow.  A lot of great information.  Thanks for posting all that.


KB Transfer
« Reply #76 on: September 27, 2012, 03:50:30 pm »
Just transferred through the teller at KB. Now my online account shows a cash withdrawl, not a transfer. Is that normal? Still waiting for it to show as at least pending in my Bank of America account.


Re: Sending/Transferring Money Home (FAQ)
« Reply #77 on: March 01, 2013, 09:57:42 am »
Massive bump.

I recently transferred money via KEB Easyone.  I've previously transferred sums of money and they went through fine - within 24 they showed up in my home bank, however it's been 2 days now and the funds have gone from my daegu bank [sent to the keb account] but the available amount has yet to show up on my home bank account.

Thoughts?

Does it sometimes take this long?


  • Darkeru
  • Expert Waygook

    • 704

    • September 08, 2010, 01:03:17 pm
    • Seoul, South Korea
Re: Sending/Transferring Money Home (FAQ)
« Reply #78 on: March 12, 2013, 10:50:13 am »
For: anyone who's set up a citibank account online IN THE UK: what's the name of the account I am trying to open?

I'd also like to know. I didn't know there was a UK Citibank.
[In Korea once more - Working in Pyeongtaek]


  • gchan19
  • Adventurer

    • 49

    • March 04, 2013, 08:28:10 am
    • Paju
Re: Sending/Transferring Money Home (FAQ)
« Reply #79 on: March 25, 2013, 09:19:19 am »
Just a question about citibank. Since I am working all weekdays, it's impossible for me to open a bank account in person at the branch during weekdays. I've heard of a citibank that opens on the weekend, does anyone have any idea about that? From the first post, it says it is free CitiKorea to CitiUSA for up to 10 times a month. Does that rule still apply now, have anyone tried it?

And also what if I forgot my money transfer PW at NH, is it a hassle to get a new one?

I also read that it is only possible to have one bank as my overseas remittance account, for example if I have NH and Citi I can only use Citi? But my question is how would the other bank know that I've set up overseas remittance with the other bank since they are 2 different separate entities.