Questions & Answers

Money Matters

Why can't I use my Korean ATM card to access my account from outside Korea?

Sometime around 2007, Korean banks began blocking access to their Korean bank accounts from oiutside Korea to foreign account holders. Apparently this is not a government rule or regulation, but rather the way banks decided to protect themselves against any liability for foreign account holders withdrawing more than W10million a year.
There are a few branches of Korean banks that will allow foreign account holders to have the same access to their funds from abroad as Korean account holders have, while others will exempt certain people from the policy.
This practice has created a lot of complaints and unhappiness among members of the foreign community.

For more, go to http://www.korea4expats.com/article-opening-a-bank-account.html. As information will be added on this issue over time, you may want also to type ATM or bank services in the Korea4Expats search box. You can also got to the Daily Life tab and then look under Banking, Money Matters.


K4E Editor: Korea4Expats.com tries to ensure that the information we provide is accurate and complete, so should you notice any errors or omissions in the content above please contact us at info@korea4expats.com.



Banking

Children/Families

Communication Services

Culture

Driving in Korea

Driving in Korea

Food Eating

General Info

General Info

Getting Around

Government Regs

Health

Housing

Immigration

Security

Shopping

Teaching in Korea

Teaching in Korea

Travel in Korea

Working Conditions

SGVC –Orientation for Newcomers, 26 March 2021, Online from Seocho-gu, SeoulPractical information for new incoming families
AMCHAM - Human Resources Issues, 11 March 2021, Online from SeoulUnderstanding and Navigating Through Critical Labor & Employment Law Issues Affecting Your Busin...
IGVC-Sexual Crimes-Related Laws in Korea, 26 March 2021, Online from SeoulLearn about laws regarding sexual crimes in Korea
Advertisement
JZ Associate
Korea International School-KIS, PK-12 English, Pangyo, Gyeonggi-do
Seoul Foreign School, K-12 English School, Seodaemun, Seoul
A Plus Apgugeong - 27 May 2020
Dwight School Seoul, English Pre-School-High School, Seoul
I want to convert
Cocoonfice, Business Center, Gangnam-gu, Seoul
Directory
Helpul telephone numbers seoul korea