Banking frustrations living abroad

Banking abroad is possibly the most frustrating aspect of living in another country.  About a month ago I converted a large sum of Korean Won to US Dollars and sent it via KB (Kookmin Bank) using an ACH transfer recommended by my US bank.  Lucky me the money bounced back a few days later due KB’s clerical errors.

Upon getting the money back in Korea they immediately sold my USD back to KRW (at my loss of about $100).  When I found out and went to the bank to confront them on the issue I had 3 separate tellers tell me “no English” and then try to justify the transaction.

After my 4th trip of getting no where I asked my English speaking Korean coworkers to help.  Mrs. Lee and Mr. Eum spent nearly an hour on the phone with the bank and kept getting told the same story I was.  I wasn’t happy about it but I conceded to paying the fees for the botched transfer.  What I refused to pay was their automatic purchase/sell at an arbitrary exchange rate which ended in a $100 loss without my knowledge or permission.

Mr. Eum decided to try one more time and the next day he joined me on my 5th trip to our KB bank branch.  Finally we were able to speak with a manager; the plan was to concede the loss and file a formal complaint (we’d already contacted the corporate office).  Upon meeting the manager he let us know that it all would have been fine if I had a foreign exchange account.   So why was this the first time I heard of it?

Unfortunately I had to come back a 6th time to set this up since my prep was over.  The good news was by the end the manager had opened a new foreign exchange account and reversed their sale of USD for KRW.  It only took another 2 trips for them to successfully wire the money to America (at least I hope it arrives this time)!

After this ordeal I will definitely be closing my Kookmin Bank (KB) account.  As far as I’m concerned they tried to take advantage of a foreigner and snag some extra fees.  Let’s not forget that they played the “No English” card WAY too many times in this month-long debacle.  I’ll be opening a Hana Bank account (which my coworkers tell me have excellent English-speaking customer service) and using Citibank to transfer between Korea and USA.  (Citi would be my go-to for everything but any paychecks they receive get reported as US based earnings for tax purposes).

To make matters more complicated I just found out Capital One automatically closed my account.  I have other US banks so its not an issue but it certainly is ironic that I finally sort out the issue at my Korean bank and the US one messes up.

In the long run these issues have always been resolved but one unexpected aspect of living abroad is dealing with US based customer service.  They are typically open during my sleeping hours so finding out why this account was closed could take a few days and deciding to reopen one or not could be tough if they work on EST daytime hours.

For now I’m not worried.  I highly recommend finding a new bank if you’re trying to send money home using Kookmin Bank (KB) but I’m too busy getting ready for my trip to Vietnam and Son Doong to dwell on it!

What international banking woes have you had?  Do you have any recommendations for banks to use or avoid when working internationally?

Paying your Korean Electric Bill

Korean utilities can be difficult to pay and even harder to understand.  I usually just pay without thinking about it but in case you’re interested in any of those electric bill charges KEPCO has provided a foreigner friendly translation.  Click on the blue + next to each line for a detailed explanation!

The only way I know how to pay the bill is at your bank.  Tear each bill along the perforated edge and feed the piece with the barcode into the machine.  If you need assistance the bank security guards have been very helpful in the past and usually have enough English to understand what you need.

Check out their site through the picture or the link.  Or you can just do as I do and pay it without really knowing what you’re charged for.  Its also good to know that foreigners have had unpaid bills for as long as 6 months without having any utilities shut off.  Late fees are minimal so if you are in a bind financially you have some wiggle room here until you land your next job.

6 ways to enjoy the holidays while living abroad

Here are 6 simple ways to brighten your holidays if you are a long way from home!

This year I’ll be celebrating my holidays outside of the United States for the first time.  Heck its my first time really being away from home!   Yeah, sure I was away from home at college near Boston I always managed to get back to New Jersey before the last decorations were hung.

I first realized how different the holidays would be in Seoul during Thanksgiving.  Okay, so maybe I ate Turkey three times that weekend but it wasn’t as good as my family’s usual feast and what REALLY makes the holiday is of course, family.  That being said I am grateful for my work family and friends here for helping me feel at home while living nearly 7000 miles away from my folks.

1) Celebrate and spend time with fellow expats.  

Chances are they are in the same situation as you and missing their family too.  If you are from the same country you can bond over traditions that you share.  If you are from different countries than you get even more insight into how the world celebrates a particular holiday.  I brought dreidels to all my Thanksgiving celebrations turning it into Thanksgivukkah and was surprised at how many Americans had never played before!

2) Celebrate and spend time with the locals.  

Chances are they have heard of your holiday; especially if its Christmas.  I was surprised to learn how few Koreans knew about Hanukkah but didn’t let it get me down.  I took it as an opportunity to reciprocate all they have taught me about their culture.  Every country celebrates holidays differently and it can be fun to experience the traditions and notice similarities.  You’ll be surprised at how many of the locals want to show you the way they celebrate. I’m excited to see how Koreans get into the holiday cheer even though they don’t decorate or have nearly the same shopping craze as Americans.

3) Continue your old traditions

Even if its just listening to Little Drummer Boy or Last Christmas on repeat, play your favorite songs and games.  It will keep your spirits up even if you are homesick.  You can email mom for grandma’s recipe and share it with all your new friends too. (she may even get the hint and send you a care package)  If you always donate to the needy then keep it up!  There are needy folks everywhere.  If you usually volunteer at the local food bank to help the hungry then talk to your local friends and find one at your new locale.  Whatever it is you do to bring the holiday spirit out in yourself I’m confident you can find a way to make it happen around the world.

4) Presents! 

My first Korean sentence – I love monkeys!

I taught myself to read Hangul in the first few months here.  I can now read with about 70% accuracy.  I mix up vowels a lot but am confident that will come with more practice.

I started a Korean Class last week and am getting the textbook next week.  Its been helpful with learning basic grammar even though I’ve only had 2 classes.  Plus it forces me to actually take notes and practice while having a venue for practicing my pronunciation without a Korean friend laughing.

I also plan to attend a coffee house language exchange on Mondays where we just talk in different languages.  Next week is my second time!

That being said the most exciting part is that I just figured out how to type in 한굴 (Hangul) on my keyboard!  The first thing I wrote (largely due to my limited vocab from my notes) was

나는 원송이를 사랑행요 (I love monkeys)

Its pronounced roughly Nanun uen song ee ruel sarang haangyo.  Note that in Korean you say the sentence “Subject, Object, Verb” so that translates directly to “I monkey love”

Whats your favorite animal?  Any other ridiculous sentences I should translate for practice?

Buying a Laptop in Seoul

This post was from my first time buying a laptop.  Please see this post for advice & recommendations on how to get the best prices!

I came to Korea with a Samsung Galaxy and a tablet, the Nook HD.  Together I had internet when I needed it and it met my needs but I knew I wanted to get some upgrades.  After I got my Alien Registration Card I replaced my phone with an LG Optimus but was waiting until my first paycheck to buy a laptop.  While in the States I read that non-Apple products were significantly cheaper in Korea but upon first inspection I didn’t find that to be true.  Yes, my phone is paid off in monthly installments with my data plan and will only cost me about $50 but the first laptops I saw at E-mart were about the same as what I found in America.

In E mart I found Samsung laptops with prices between ₩1,000,000 and ₩1,800,000 ($1,000-$1800).  They had some LG and other off-brand models for ₩800,000 ($800) and a few bare bones laptops with minimal specs for about ₩490,000 ($490).  After a little internet research and speaking to a few Koreans I realized the place to go was Yongsan Electronics Mall but heard that I should bring a fluent Korean speaker to make sure I get an English version of Windows and everything else I wanted.

Luckily Ben wanted to see the electronics mall to look at camera lenses while I was working and confirmed that there were some great prices, what appeared to be about 30% cheaper than at E-mart.  I convinced my new Korean friend Rachel to go with me in exchange for dinner afterwards at the Itaewon Global Food Festival.  We hopped on the subway Saturday after I got back from fencing and took the 30 minute ride to Yongsan.

The mall is very easy to find.  There are signs in the subway station that say “Yongsan Electronics Mall” and we arrived at about 7:30.  Luckily even though they close at 8:00 PM there were still a few vendors open.  Walking in there are dozens of vendors selling what appears to be the same thing.  We passed about 12 camera & lens booths and 5 or 6 monitor stations before seeing the sign that said computers – 5th Floor.

Taking the escalator up we found multiple desktop booths with huge gaming rigs, tons of monitor stations and even a festive furniture section with colorful lounge chairs and sofas.  While walking around we eventually found a laptop booth with Samsung’s in the ₩700,000-₩900,000 range ($700-900).  There were a few other models and prices went all the way down to about ₩390,000 ($390).  The best part was the attendant spoke nearly perfect English!

I told him I wanted a laptop that had an SD card for my camera, made sure it had wifi and an English operating system and said I’d like an upgraded display card but don’t need the top of the line.  He asked about brand and price and I told him price was more important than brand.  I wanted more bang for my buck and didn’t need it to say “Samsung” if all that meant was I would pay an extra ₩300,000 ($300).

He immediately asked if he could make a recommendation and pointed to the HP Pavilion G6 sitting on display.  It had a nice widescreen display with a numpad built into the keyboard and was listed at ₩490,000 ($490).  I immediately started playing around on it and found it easy to use and navigate.  I asked if it could come with English windows and he said of course.  I asked about Microsoft Office and he said that was included too!  He showed me the display specs and that it was bluetooth capable before pulling up a K-pop video.  The display quality was superb and I was practically sold.  The upgraded graphics card made this machine cost about ₩800,000 ($800) in E-mart so when he told me he would give me “best price” of ₩460,000 ($460) for cash I just asked him where the ATM was.

In hindsight I wonder if he would have negotiated even lower but in my mind I just picked up a high end laptop for around $450.  He threw in a laptop bag, a headset and a mouse for free too!  Turns out I didn’t need my Korean friend but I would recommend bringing one to anyone else visiting the mall because I doubt all the vendors are this fluent.