Description of studying in Korea: bank deposit method

How to save money when studying in Korea? Let's take a look!

National Bank, korea exchange bank, Woori Bank and hana bank are all well-known big banks in Korea. They all have rich experience in providing financial services for foreigners, such as providing documents in multiple languages for foreigners to consult, and even having translators to help you on the spot.

Korean currency

The official currency of South Korea is the won, and the basic unit is the won. There are two kinds of notes and coins. The denominations of banknotes are 10000 won, 5000 won and 1000 won respectively, and the denominations of coins are 500 won, 100 won, 50 won, 10 won, 5 won and 1 won * * respectively. In addition, the cheque in circulation is 100000 won, and you need to show your identity certificate when using it. Generally, buses and beverage vending machines can only use coins and 1 000 yuan notes.

To apply for opening a local bank account in Korea, you need the following documents:

passport

Alien registration card

A bank account

Banks provide a variety of accounts, and customers can choose the account that suits them according to their own needs. Most accounts have no requirement for balance, and will not charge any account custody fee.

International credit cards, ATM machines and bank cards

Generally speaking, international credit cards can be used almost anywhere, but in Korea, if you hold foreign credit cards and debit cards, it means that you can only use these cards at some ATMs. However, if a bank in Korea issues you an ATM card, you can use this card to withdraw money from the bank's ATM without any restrictions. There are not many ATMs operating 24 hours a day in Korea. Ordinary ATMs stop using at night 1 1, so be sure to pay attention to their opening hours when using ATMs.

Note: For detailed rules and regulations on the use of bank cards issued by banks, please consult the bank staff.

current savings account

The deposit amount and term of this account are unlimited, and customers can access it at any time according to their personal needs. Usually, the longer the deposit time, the higher the interest. Take korea exchange bank as an example. The bank pays interest on current savings deposits twice a year in June and 65438+February, and the interest is added to the principal. However, it should be noted that accounts with an average balance of less than 500,000 won do not pay interest.

Note: Please refer to the regulations of the bank at that time when making deposits. In addition, the interest rates of Korean banks will be different. It is best to consult the local bank for details.

deposit account (DA)

There are some differences between Korean time deposit accounts and domestic time deposit accounts. Taking korea exchange bank as an example, time deposit accounts can be divided into general time deposit accounts and time deposit accounts. Generally, time deposit accounts do not specify the deposit period, but they require a deposit period of at least 65,438+0 months and a maximum of 60 months, and the interest is settled every month or at maturity, which is more suitable for depositors with surplus funds. The minimum deposit for general time deposits is 1 000 won, and those who meet the requirements can also enjoy tax concessions. You can consult the bank staff to handle this business.

The characteristic of time deposit account is that it can be accessed at any time. Even if it is only for one day, the bank pays interest, and the withdrawal flexibility is great. Everyone can open multiple accounts. The interest settlement date of time savings deposits is four times a year, in March, June, September and 65438+February respectively, and the interest is added to the principal, but when calculating the interest, the account with an average balance of less than 500,000 won does not pay interest.

Credit card account

Customers who use this account must pay monthly installments and interest to the bank. The function of this kind of account is somewhat similar to that of a certificate of deposit, except that the customer can repay the bank every month without prepayment. Take korea exchange bank as an example, the conditions for applying for a credit card are as follows: any foreigner who has obtained a foreigner's landing permit, a foreign compatriot's declaration of residence in China, is employed in Korea, or works in an embassy or a foreign government agency and can submit valid identity documents can apply for a credit card at a foreign bank. After the application, the bank will inform the applicant whether it is possible to apply for a credit card according to the principle of issuing credit cards to foreigners.

Application procedure: go to the bank? Negotiate to apply for a credit card? Register to confirm your identity? Review credit rating and settlement ability? Confirm the settlement limit? Matters needing attention in issuing credit cards? Take a credit card from the bank.

Note: Credit cards are valid for two years. You can apply for an extension of validity after the expiration. When applying for extending the validity period, the application form and all documents submitted at the time of initial application must be submitted.

Foreign currency deposit and withdrawal savings account

The deposit amount in this account is not limited, but the deposit period is required to be within 65,438+0 years (which can be determined by month or day). The currency of deposit shall be based on the foreign currency published by the bank, but other foreign currencies may be deposited after consultation with the bank and consent of the bank. Before the account expires, that is, if the account is closed halfway, the interest will vary according to the deposit period. If the account is closed in less than 7 days, there will be no interest. If the interest rate exceeds 7 days-110 is lower than the agreed interest rate, if it exceeds1month but less than 3 months, it will be 3/65438+ of the agreed interest rate. The intermediate interest rate from the expiration of the account to the day before the account is closed is calculated according to the general interest rate of 7-day foreign currency time deposits. When depositing foreign currency cash or withdrawing by traveler's checks, the bank may charge a certain handling fee according to the regulations.

Note: Take korea exchange bank as an example, you can consult the bank staff who handle this business for the above provisions on savings accounts for foreign currency time deposits and withdrawals.

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