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How to Transfer Money

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Eventually you will need to transfer money in Changwon. Maybe you will want to run in a foot race. Or you will want to rent a pension. Or you will want to buy something. Anyway, when this happens, do not panic. It is quite a simple thing to do. And the ATMs have the instructions in English.

What you will need for transfers within Korea:

  • a bank account and your ATM card
  • the name of the receiver’s bank
  • the receiver’s account number
  • patience
  1. Put in your card at the ATM and press “English.”
  2. When the options come up, click “Transfer.”
  3. Follow the instructions as they come. It will have a long paragraph asking you if someone if forcing you to use an ATM to transfer money. Just read the question and answer accordingly.
  4. You will need to enter a code for the bank of the receiver’s account. Some banks will add a comma when you type the amount, some will not.
  5. When you confirm the account, check the name of the account holder and make sure it matches the name of the person you want to send  money to.
  6. That is it. Don’t worry about trying to do it in Korean, just stick to English and you will be happy.

For International Transfers you will need to visit your bank during operating hours and the first time you go you will need to bring (check with your bank back home to confirm):

  • The recipients full name and address.
  • The recipients bank details, including account name and number, bank name and address and a routing number if you are American.
  • Your passport and ARC

KEB is the best bank to get in general when living in Korea. The main reason for this is they have internet banking and customer service in English. Check out information here and here.

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