Won Exchange Rate

[ThunderLion]

Just bring your citibank ATM card over to Korea! Or sign up for one if you don't have it. Just remember to activate your card for overseas withdrawal prior to leaving Singapore.

Also the currency exchange rate is actually good! (It's sgd$1 to korean won$902 now, which is higher than almost all the currency exchange shops here). It will be subjected to your daily withdrawal limit though (should be about SGD$3000).

DON'T bother to use your credit card. You will incur a high transaction fee on top of the currency exchange rate.

For more info, you can actually take a look at this news article in May about Citibank which states that all citibank ATM in Korea CAN BE USED using our atm cards (same 6 digit pin number)! And there won't be any transaction fees! Woohoo! -

Citibank Korea globalizes ATMs due to influx of inbound travelers | CNNGo.com

 

[icansing]

i read lonely planet they say atm limit is 700kwon.so little?

Automated teller machines (ATMs) in Seoul are a little strange but more and more accept foreign cards. If you have a foreign credit card, you need to find an ATM with a ‘Global’ sign or the logo of your credit card company. A few Global ATMs have all their instructions in Korean, so you may need help the first time you use one, but most have some English instructions. ATMs can be found outside banks and post offices, and inside deluxe hotels, subway stations, airports, convenience stores and department stores.

ATMs often operate from 9am to 11pm, but some are 24 hours. Restrictions on the amount you can withdraw vary. It can be as low as W100,000 or W300,000 per day, but most have a W700,000 limit. Outside banking hours you may be charged a higher commission. Convenient Global ATMs in Itaewon include:

Read more: Practical travel information on Money and costs in Seoul - Lonely Planet Travel Information

 

[Webbyboy]

you can draw many times of 700,000won, tried and tested.

 

[arthus]

you can draw many times of 700,000won, tried and tested.

hi how is the exchange rate may i know?

 

[Hisashiburi]

Withdrawing from an ATM always gets u the best rates as it is inter-bank rate.

Just make sure your ATM card is accepted world-wide.

But to avoid extra fees, withdraw as few times as u can.
i.e. Withdraw large amounts each time.

 

[Webbyboy]

hi how is the exchange rate may i know?

bad because i was using credit card cash advance

 

[albertchng]

1 SGD = 890 KRW @ Indian money changer (Haji something) opposite a lady apparel shop in People Park Complex.

 

[icansing]

jialat the rate kept going down..i think i need to open a citibank account to withdraw money.

 

[Globe]

any recent rates for arcade ?

 

[BobyC24]

any recent rates for arcade ?

I try to tell you tomorrow when they open, around 10 am...

 

[foolwrong]

today at arcade.. it was around 891KRW

 

[Globe]

cheers foolwrong & boby

 

[punkster]

Withdrawing from an ATM always gets u the best rates as it is inter-bank rate.

Just make sure your ATM card is accepted world-wide.

But to avoid extra fees, withdraw as few times as u can.
i.e. Withdraw large amounts each time.

would they show you the rate before withdrawal?

I just used my citibank credit card to pay for domestic flight in KRW and i noticed the rate they used is only 880

 

[BobyC24]

would they show you the rate before withdrawal?

I just used my citibank credit card to pay for domestic flight in KRW and i noticed the rate they used is only 880

Yeah you will always have some hidden fees anyhow. If you pay with your credit card in a currency that is not usd, your bank will convert first to usd and then to sgd applying a double commission...(this is writen in the terms and conditions)

Check this article and you will know that the best option is to get your cash in Singapore from a money changer.

blog.get4x.com

B.

 

[Globe]

890 ~ 892 yst at the arcade .. kinda slow but

 

[James_Lim_2]

Just changed now at 893 . quite happy!

 

[chris_summer]

Just changed now at 893 . quite happy!

is this at arcade?

 

[James_Lim_2]

is this at arcade?

not arcade, but very close to raffle's place, don't remember the name of the place.

I found it with GET4X website which I really love since i hear about (it is free money changer comparator)

 

[chris_summer]

not arcade, but very close to raffle's place, don't remember the name of the place.

I found it with GET4X website which I really love since i hear about (it is free money changer comparator)

Hi thanks! I was looking at this site. Do we need to proceed with all the steps to "secure" the deal?

 

[James_Lim_2]

Hi thanks! I was looking at this site. Do we need to proceed with all the steps to "secure" the deal?

yep. From my experience, wait a bit till 10.30 or 11am when all money changer open, you will have more money changers listed. I used 3 times already and eveytime the rate I get online is cheaper than the digital board rates so better secure online i think