Won Exchange Rate

IntelBen

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Wise card can be used in korea? I heard some said they have issue in usoong their wise card?
 

wongkc

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Is it advisable to change KRW in Seoul rather than in SG?

Best is still change some in Singapore first in case your card cannot work somehow... at least no need panic got time to call banks for further information...

The rates China Embassy near Myeongdong offers rates quite close to daily spot rate... check the rates below

http://www.embassyexchange.com/

But if you intend to use cards more extensively and change very little cash... then might as well change all in Singapore... the difference in a few hundred dollars SGD to KRW is probably just a few dollars nia...
 

happening

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Would like to know if there’s any admin fee for using trust card to withdraw from deposit account using the ATM in Korea?

ps: Jan 23, I did managed to withdraw cash from Bank of Taiwan ATM before without incurring any admin or bank fee, the rate is way better than arcade monies changers!
@huatson I am planning to do the same. Have you tried to make any withdrawal from the ATM in Korea using your Trust card?
 

acidcrash

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@huatson I am planning to do the same. Have you tried to make any withdrawal from the ATM in Korea using your Trust card?
Just got back from Seoul. The wife wanted more cash to spend at the namdaemun market so no choice.

Took out 100000 won. There's a charge of 3600 won

K99k5uw.jpeg
 

thewiseone

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Just got back from Seoul. The wife wanted more cash to spend at the namdaemun market so no choice.

Took out 100000 won. There's a charge of 3600 won

K99k5uw.jpeg

I was told by Trust CS that there will not be any withdrawal/admin fees if the amount is withdrawn from a SC ATM machine. Which ATM did u withdraw the money from?
 

acidcrash

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I was told by Trust CS that there will not be any withdrawal/admin fees if the amount is withdrawn from a SC ATM machine. Which ATM did u withdraw the money from?
It was non SC ATM. I couldn't be bothered to find the nearest SC ATM so I just went to any atm
 

happening

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I was told by Trust CS that there will not be any withdrawal/admin fees if the amount is withdrawn from a SC ATM machine. Which ATM did u withdraw the money from?
Thanks. I withdrawn from one of the ATM and had a
Just got back from Seoul. The wife wanted more cash to spend at the namdaemun market so no choice.

Took out 100000 won. There's a charge of 3600 won

K99k5uw.jpeg
Thanks. I withdrawn from one of the ATM at the airport and had a 4,000 won bank charge.


Below are the rate for Trust and Revoult for rest to reference.

Mon 19 June
Revoult 952.42
Trust 946.41

Tue 20 June
Revoult 950.17
Trust 950.82
 

Hisashiburi

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What is the cheapest and easiest way to transfer money to a Korean bank account? I don’t have trust or revolut.

why need to transfer money to Korean bank account?
Dont get scammed though...

Anyway from sg, bank has overseas transfer.
Can also use those money transfer services that those maids like to use.
 

Hisashiburi

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I wanna book goshiwon to stay but those listed on Airbnb are quite ex. I found some local ones but they only accept bank transfers leh :(. I know can use banks like dbs for transfer but I think not the best rates and got bank charges. What money transfer services do maids use? Got Korean maids in sg meh? :unsure:

I meant the filipino and indo maids in sg.
They prob use some money transfer service to send money back to their home countries.
Those services should be able to send to Korea as well.

U are staying long term in Korea, thats why staying at goshiwon?

Have many real estate and rental scams in Korea...
 

wongkc

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I wanna book goshiwon to stay but those listed on Airbnb are quite ex. I found some local ones but they only accept bank transfers leh :(. I know can use banks like dbs for transfer but I think not the best rates and got bank charges. What money transfer services do maids use? Got Korean maids in sg meh? :unsure:

How long u staying?

Telegraphic Transfer charges are usually 1/8% of the amount... with min and max charges... for UOB is min $10 max $100...

He is referring to those remittance services like Western Union... but u need to check with WU whether they able to do transfer to bank accounts or is cash collection... not every country they able to transfer to bank... sometimes the receiver need to go to WU branches to collect cash instead...

Banks might not be offering the best rates... but they are the safest... if just transfering few hundred SGD... the exchange difference probably just a few dollars nia... for example... if say UOB spot rate is 930... outside is 950... u only lose 20Won per 1SGD... thats 2cents nia... change 100SGD is $2 nia...

Above 2 options are probably your only options... otherwise u can check if they accept paypal or not...

DBS currently have Zero Fee charges for some destinations... u might want to check it out...
 

wongkc

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Thinking 1-2 months in Seoul…

You might want to try those couch surfing or house sitting kind of experiences if u are going there for extended periods... quite popular and common in Europe and USA for backpackers... but not sure if this is catching up in Asia...
 

Unclemun

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Generally no. Maybe the smaller moneychangers might have but those in Myeongdong don't charge any additional fees.
Ah ok. Have not changed anything in SK before as I brought sufficient KRW. Better than using my cc as I did not have Revolut card.
 
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