Transferring money between U.S. and Korean bank?

I have been living in Korea for 6 years so here is the info you need on banking in Korea.

Traveler's checks- These are accepted but are not needed. You ATM cards will work in Korea and you can withdraw cash in Korean won from their banks. Before you leave, set up a checking account with a Visa check card at a local bank. Big banks like BOA charge $5 per international ATM withdrawal. Even if you cannot find a bank with a lower rate, which you probably can at a local one, it will be cheaper to use your ATM card in Korea to get money. The exchange rate is better than traveler's checks, which you also must pay a fee for. You will have no problem getting your card to work in Korea, just make sure you tell your local bank you are going overseas. If you are nervous about getting from the airport to wherever you're going, you should go to your bank and buy 100,000 won. That will be about 80 USD. That will be enough for you to get out of the airport, on a bus/train, to your destination, and into a cheap motel.

There are a number of banks in Korea that do foreign exchange, and these days, they are making it easier to make recurring payments for things like student loans. You can enter the branch and set all of this up in less than 30 minutes. They will take and send the money to your US account automatically. I would try KEB bank, you can find their website at www.keb.co.kr, they're known as the "expat bank" in Korea. More information on their transfer programs can be found at http://www.keb.co.kr/netc/en/expat/transferring.ht... They offer more English service than the others and lower fees on international transfers. You can save money buy setting up automatic remittance, and also setting up ATM remittance. Fees will be around $7.50 from KEB, maybe less, plus the receiving fee from your US bank which can vary between $8-25. My local bank charges 11.00, so for about 20 bucks I can transfer money. You may save money by transferring every two or three months instead of every month. Also try KB bank, Hana Bank, SC First, Citibank (not affiliated with the US bank), and Woori Bank.

Make sure you bring your US bank's account number and routing number, which can be found on the bottom of your checks, or by asking the bank. You will need that, your passport, and what's known as an alien registration card (ARC) which is a Korean ID card given to all foreign residents of Korea.

I should have noted that there is no American bank in Korea, none, regardless of whether or not their name is the same, there are no agreements between any bank operating in Korea and one operating outside of Korea (including BOA)

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RE:

Transferring money between U.S. and Korean bank?

What is the simplest and cheapest way to transfer money back and forth between South Korea and the USA?

I am about to move to Korea to live and work, but I have student loans in the USA that need to be paid from an American Bank account using dollars.

I know I can setup a wire transfer to...

Woori America Bank Routing Number

Send Money To Korea

I suggest that you use Bank of America account. Bank of America also conduct business in South Korea so they have their Korean branch there. Just deposit your money in a Bank of America here and withdraw it there.

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I'm here in Korea now and i use Capital One Bank which has 0 ATM charges ...

But Bank of America is on of the piggiest banks- if not the piggiest- as in capitalist **** you little man piggiest

LOL using bof makes him/or her piggiest? so ignorant hahaha