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depositing Pension/severance into Korean Domestic bank account
« on: November 05, 2014, 03:16:23 pm »
I'm just wondering if it is possible to have the NPS and your employer send your retirement pay  into a local Korean account, rather than having them send it to your account in your home country. I'm sure this question has been answered before, I just haven't been able to find a thread dealing with it. Thanks for your time.

  • eastreef
  • Super Waygook

    • 272

    • November 02, 2009, 02:53:39 pm
    • 7 years at middle & high schools in Korea / Now a university in Thailand!
Re: depositing Pension/severance into Korean Domestic bank account
« Reply #1 on: November 05, 2014, 05:14:43 pm »
Yes, NPS will do a direct deposit to a Korean account.


NPS made a copy of my ARC, passport and Korean bank book and then he showed me how many months I had contributed (57), how much was in my account and how much of this was interest.  He explained that because it was Friday that it would be Wednesday before I received my money.  On the twenty-first (Wednesday) I checked my Korean account and the money was there.  I was in and out in less than fifteen minutes.   
“All of this has happened before, and will happen again.”