So one of the many things about making your life here in Korea is the dreaded Korean banking.
You will most likely be taken to the bank of your school’s choosing-that’s where they will deposit your pay every month.
You will get your “paybook” which keeps a paper account of all that you are spending and any bills that you will pay. This also has your account number which is the number you need if someone wants to wire you money. Korea doesn’t have “checks” like they do in the USA-everything is electronic here.
The rest of this post pertains to my OWN experience at Nonghyup. There are many different banks in Korea- KEB is supposed to be excellent for foreingers. Nonghyup is known to be a major headache for foreigners.
You should be getting a “check card” as well -make sure this is one that you can use like a regular debit card. The first time I went I got confused and wound up only getting a card that withdraws money from the atm. Why would anyone ever need a card like that?
It should have a sim chip as well as “mastercard” logo (though I read somewhere it can say Visa) and at least should say “bazic check”.
This card will word like a regular debit card. However dealing with buying stuff online (like g market and interpark) can be a real pain. Now there is this securiy thing entirely in Korean that you can fill out-it took me about an hour because i had to translate everything using my phone). Or in some cases it will be easier to use an american card. But for gmarket -it’s best to just “wire” transfer the money-it gives you a few days.
Now, you decide you want to go out of the country and use the card? Or you want to use the card online on a foreign website?
Well hold on because my last week has been this headache. (and my poor Co teacher)
So to begin with I told my “local” branch that I wanted a global card to use overseas (now the teller is kind of a friend and speaks Amazing English) but she said I had to go to the main branch to take care of that-down the street.
So I went with my co teacher (luckily). The teller was confused because she said I already had a “global” card. There was much confusion but by the end we were able to make a “new global” card. They destroyed my old card.
Now I ‘ve read about other people saying that “global” does not mean global.
But what happened to me was something a little different. The card would not work online. It worked fine in stores here but refused to work on the website I needed- I was trying to buy a plane ticket on delta)
Well I had to wait until Monday -as I worried about losing my flight price. When we went back it turns out that for foreigners (I think) the card isn’t quite linked with the account. I’m not sure what this meant though because I could use the card here in Korea but I not online?
Anyway they told me that the problem was that my current “account” was affiliated with my “local” branch. Again with branch issues. Therefore I had to end my account at the Local branch and make a new one at the main branch. My co teacher also wanted to sign me up for internet banking.
Bu there was a problem. For whatever reason before we could do any of this, the bank needed my contract from the school. So we had to leave the bank, go back to the school, get the certificate made and signed,drive back to the bank and then wait because about 10 people showed up before us with only 2 reps.
After waiting the whole process of getting a new bank account, cancelling the old bank account, getting information for the internet banking took about 1 hour. I don’t know why.
Finally we were finished-so we went to leave and I had to pay the parking fee. Bu the card didn’t work-quick fix (sadly not the time spent dealing with it) the telelr hadn’t had time to file the paperwork yet.
Anyway we were finally finished at the bank itself. We still had to contact all the companies that I use direct desposit for and cancel the old account and get the new one taken care of . Then we also had to inform the school about my new bank account. This took about 30 minutes in total as well because the people on the phone wanted to hear directly from me about the change.
So I went ahead and tried to buy the flight ticket.
Well heads up-your “last name” (smith, johnson, jones) will go under your “first name” box. Your “first name and middle name” (Jenny Anne) will go in the second box aka “last name” Also make sure the billing is the same as the address you put down while filling those forms out.
But sadly…it didn’t work. So i had to call delta directly for the 4 time and finally afte 15 minutes of not understanding I spoke with a supervisor about the whole issue and she manually had to enter my card number. So it sounds like the card still might not work 100% online.
But like I said Nonghyup is known for this.
So here’s the take away from this week long mess.
- go with a korean native speaker-do not try to figure this out on your own
- bring passport, passbook (account book), card, ARC
- bring your bill reciepts that you automatically deposit (gas, electric, internet)
- allow for a lot of time
- global card at NH doesn’t mean “global”
- you can call the english hot line to help you and check that your card works internationall
- make sure to ask and clarify -card can work online (both foreign and domestic) card can work in foreign atm, card can work at foreign stores -cover all your bases
- have you co worker help you call you automatic desposits- have your new account number ready and your ARC number
- if you choose to get internet banking prepare yourself-also don’t lose that little card that helps you
- when in doubt call the company you are trying to charge and see if they can manually handle your card.
Well I think that’s all but I swear last Friday was the most insane day I’ve spent .