외국인의 은행 이용 방법 - 영어 (2) FAQs for foreign customers

FAQs for foreign customers in Korea

Contents

Ⅰ. Deposit Account opening/closure

Ⅱ. Fixed Interest Deposit (Installment Deposit, Time deposit, CD)

Ⅲ. ATM (local/global) card/Check card

Ⅳ. ATM

Ⅴ. Internet Banking

Ⅵ. Secured Loan(Deposit secured, Mortgage loan)

Ⅶ. FX banking
- Money exchange
- Overseas remittance

Ⅷ. Credit Card

 

Ⅲ. ATM (local/global) card/Check card

1. What is the difference between ATM card and Check card?

You can use ATM card via ATM only whereas you can use check card, like credit card, at merchant within account balance and you can use check card as cash card via ATM as well.
- 현금(ATM)카드는 ATM에서만 사용할 수 있습니다.
체크카드는 신용카드처럼 가맹점에서 통장잔액 한도 내에서 사용하실수도 있으며 또한 ATM에서 현금카드 기능으로 사용할 수 있습니다.

2. What documents do I need to get my ATM card or check card?

- You can apply for ATM card or check card at the time of account opening or anytime thereafter and the card will be issued immediately upon your application. However, some types of check card will take about one week to be issued.

When card is issued, it will be informed to you. You will receive the card if you come to branch or via the channel you prescribed in the application.
- Check card for both domestic and overseas use is issued only to expatriates described below:
i) Resident who is a regular employee of a Korean or foreign company and is in the manager’s position or higher.
ii) Document shall be submitted that proves the customer’s employment with a Korean or foreign company (employment certificate etc.)

Although money paid via check card is withdrawn from settlement account immediately after the use of card, there is strict qualification for expatriates because check card for both domestic and overseas use is permitted for use at overseas merchant with presentment only without online approval within specified amount and thus it constitutes credit transaction where money is not immediately withdrawn from customer account and there is probability of default.

Tip: No restriction will be imposed on issuing cards to VIP members.

- 개좌 개설시나, 그 이후 상시 현금카드 또는 체크카드를 신청하실 수 있고 즉시 발급됩니다. 단, 체크카드의 종류에 따라 발급 시간이 일주일 가량 소요되는 것이 있습니다. 발급완료되면 당행에서 연락이 가며, 내점하시거나, 신청서 작성시 기입하신 경로로 발급받으실수 있습니다.

- 국내외 겸용 체크카드인 경우 아래의 외국인에게만 제한적으로 발급
i) 국내 및 외국기업의 관리직 (과장이상) 정규직원으로 근무하고 있는 거주자
ii) 국내 및 외국기업 근무사실을 확인할 수 있는 서류(재직증명서 등) 징구

체크카드 이용대금은 사용즉시 결제계좌에서 인출됨에도 외국인의 자격기준을 강화하는 이유는 국내외 겸용 체크카드인 경우 해외 가맹점에서 일정금액(1만원) 이하의 거래는 온라인 승인 없이 카드의 제시만으로 허용되기에, 고객 계좌에서 즉시 출금되지 않는 신용거래로 인한 연체 발생 가능성이 있기 때문이다.

Tip: 당행 VIP 멤버가 되시면 카드 발급에 제한을 받지 않습니다.

3. Why should I use check card?

- Having check card is more convenient than carrying cash and it functions like personal check.
TIP: Money paid via check card in Korea, like money paid via credit card, is tax-deductible when the customer files annual income tax return.

- 체크카드는 carrying cash보다도 편리합니다. 또한 개인 수표(Personal Check)와 같은 기능을 합니다.
TIP: 한국에서 체크카드는 사용하신 금액을 신용카드와 같이 매년 연말소득정산시 세금 혜택을 받을 수 있습니다.

4. Are there any charges to issue/maintain check or ATM card?

- No. However, if the customer has lost the card and the card is reissued, fee of KRW1,000 shall be paid.

Such fee may be waived depending on customer rating.
- 없습니다. 단, 분실하여 재발급하시면 KRW1,000을 지불 해야 합니다.

고객 등급에  따라 수수료가 면제 될 수도 있습니다.

5. What should I do if I forgot my PIN-code or enter wrong PIN code 3 times in a row?

- If you come to the bank, new PIN will be issued.

   Required documents: check/ATM card, ID, bank application.
- 은행 오시면 새로운 PIN 재발급됩니다.

  필요하는 서류 :체크/현금 카드, 신분증, 은행신청서.

6. What should I do if my card is damaged?

- You should visit the bank and have the card reissued. Required documents: check/ATM card, ID, bank application for card reissuance.

Turn around time: ATM will be reissued immediately. Check card may take over one week depending on the card type.
- 내점하시어 카드 재발급해야 합니다. 필요하는 서류 :체크/현금 카드, 신분증, 은행 재발급 신청서. 기간: 현금카드 바로 재발급할수있음.

체크카드는 종류에 따라 일주일이상 소요될 수도 있습니다.

7. Can I use my Global ATM card abroad?

- Yes, you can use it at the ATM with the marks CIRRUS or MAESTRO attached thereto, the same marks attached to the back of your card. These marks are attached to most global ATMs.

8. Are there any transaction limits for my Global ATM card?

- Yes. Please see the below table.
Section 1 day 1 month
Standard limit US $ 1,000 US $ 3,000
Special limit US $ 3,000 US $ 10,000

9. Are there any charges for using my Global ATM card?

- Yes. Please see the below table.
When you purchase 1business transaction US $0.5+1% from purchased amount
When you withdraw cash 1business transaction US $3+1% from purchased amount
When you check your balance exemption

10. How can I cancel my card?

- To cancel your card, please  come to the bank with your ID and fill in the application for card cancellation.

11. Will my name be printed on the card?

- Your name will not be printed on cash (ATM) card but will be printed on check card in the order of your surname and then first name. 

12. Will my card have the same PIN?

- Four-digit-PIN is used for account withdrawal and ordinary check card is linked to one account. However, IC chip card is linked to up to six accounts, in which case six-digit-PIN for account identification is required. When you use IC chip card, enter the accurate six-digit-PIN, check the account list linked to the card, select the account and then enter the four-digit-PIN of the selected account for withdrawal. You may use the same PIN for different accounts, but for security reason different PINs are recommended to be used.

- 먼저, 4자리 PIN번호는 계좌 인출시 사용되며, 일반 직불카드는 한계좌만 사용 가능합니다. 그러나, IC CHIP카드인 경우 한 카드에 6개까지의 계좌를 동시에 연결하여 사용할 수 있으므로, 여러계좌 이용시 6자리 계좌 인식 PIN번호가 필요합니다. 6자리 계좌인식 PIN번호를 올바르게 입력한 경우에, 카드에 연결된 계좌 목록을 확인하시고, 거래하시고자 하는 계좌를 선택하신 후, 그 계죄의 4자리 계좌 인출 PIN를 입력하신 후 사용하시면 됩니다. 계좌별 비밀 번호는 동일하여도 무방하나, 안전을 위해 다른 번호를 사용 할 것을 권해드립니다.

Ⅳ. ATM

1. Where can I find ATM?

- ATMs are at branches of banks, convenience stores, large hypermarkets, department stores, movie theaters, shopping malls etc.
- 주로 각 은행 지점은 ATM이 비치되어 있습니다. 또는 편의점, 큰 대형 마트나 백화점, 극장, 쇼핑 몰에 등등에 많이 비치되어 있습니다

2. Why in some bank’s ATM the charge is bigger than in other?

- Since different banks have different fee policies, different ATM fees are charged.

3. Can I update my passbook in ATM? How?

- Yes you can do it anytime since ATM has passbook updating function.

4.  If I have problems when I deposit/withdraw/transfer money at the ATM who should I contact?

- Telephone for emergency call is installed on ATM. Use the telephone to call our Call Center.

5. What are the working hours of the ATMs in Korea?

- Branches operate ATMs for different hours but the usual hours are 07:00~23:30. Some branches operate ATMs 24/7.

6. Can I use my foreign issued card at Korean ATMs?

- You can use your foreign issued card at global ATMs in Korea that have the marks of global ATM.

7. ATM charges me a lot. What can I do?

- We recommend using our ATMs during business hours and you can conveniently use check card as it works like cash. Also you can enjoy many benefits if you use ATM or other fee-waived accounts (e.g. e-click, do dream)

Ⅴ. Internet Banking

1. What are the requirements to apply for Internet Banking?

There are requirements for expatriates’ opening account or using Internet banking as follows:

a. Overseas Koreans (Korean compatriots of foreign nationality) shall have domestic residence declaration certificate.

=> Account & internet banking can be used.

b. Customer shall have other ID than passport or alien registration card (home country government-issued ID, driver’s license, credit card etc.) and customer shall have address and contact number in Korea (hotel or motel is not accepted as valid address and there shall be contact number other than mobile phone)

=> Account can be used.

c. If the customer who meets the requirement of b above and meets any of the following i) - iii), he/she can use Internet banking:

 i) has job in Korea (evidenced by employment certificate, receipt for earned income tax etc.),
 ii) owns business or real estate property (evidenced by business registration certificate, certified copy of register etc.
 iii) has domicile in Korea (evidenced by receipt for electricity payment etc.). => Account & internet banking can be used.

외국인의 경우 계좌개설 및 인터넷뱅킹 가입에 있어 아래와 같은 조건이 있습니다.

a. 재외국민(외국국적동포)국내거소신고증이 있거나,  외국인등록증을 소지한 고객중 당행과 상당기간 거래하였거나 PB. Prb고객 등 대포계좌 개설 가능성이 없다고 판단되어 업점장의 승인을 얻은 경우- 계좌개설 및 인터넷뱅킹 가입가능

b. 여권 또는 외국인등록증 이외의 다른 신분증이 있을 것(본국신분증, 운전면허증, 신용카드 등)  and 국내에 주소 및 연락처가 있어야 함(호텔,모텔은 주소로 인정하지 않으며 핸드폰 이외의 연락처가 있어야 함) -- 계좌개설 가능

c. 위의 b번 조건에 부합하는 고객이  ⅰ)국내에 직업이 거나(재직증명서,근로소득영수증 등으로 증빙), ⅱ)사업체나 부동산을 소유하고 있거나(사업자등록증, 등기부등본 등으로 증빙), ⅲ)국내 생활 근거지가 있는 경우(전기요금 영수증 등으로 증빙)

- 3가지 중 하나에만 부합하면 인터넷뱅킹 가입가능

2. Could you describe shortly the procedure of applying for Internet Banking at your bank?

Answer: Come to branch – Fill in application for account opening and Internet banking – Receive security card or OTP card – Be connected to Internet banking via PC – Have new certificate issued or register other financial institution-issued certificate at certificate center – Log into the Internet banking – Register your transfer password. Transfer password shall be registered within three business days (including date of application). Otherwise, you should come to branch again to initialize password. If error occurs, please call our Service Center(1544-7744) to get help.

3. What is certificate, transfer password and security card?

Answer: Certificate is a kind of electronic certificate of seal impression required for conducting financial transactions such as bank, securities, card, insurance etc., e-commerce such as buying goods or processing things with public entities. You can have certificate issued by logging onto certificate-issuing entity’s web site.
Transfer password is entered to enhance security when funds are transferred via Internet banking.
Security card is a sort of security medium composed of different random numbers. For important transactions such as issuing certificate, transferring funds etc., customer will be asked to enter specific numbers, and then the customer should just find the matching numbers on security card and enter them.
OTP devices are commonly used as security medium, which enables customer to enter newly generated password whenever the customer conducts Internet banking transaction, enhancing security even further than security card.

4. What should I do if I lost my security card?

Answer: You should come to the branch nearby with your ID in person and receive a new security card.

5. How long does it take to download and set the Internet Banking program?

Answer: There is no specific Internet banking program but security program will be installed in customer’s PC for safe financial transactions. Turnaround time will depend on the computer system’s environment but for the first access to Internet banking, security program will be installed within one minute on average. For later accesses, it will take seconds. If it is not installed after taking long, please call our Customer Service Team and you will be provided with help. We can also help you by having remote access.

6. How secure is Standard Chartered First Internet Banking?
Answer: On our Internet Banking system, intrusion prevention system is installed to prevent hacking or other activities from leaking customer’s personal information and it is equipped with complete security system where government-certified firewall dedicated to financial institutions are installed in two layers.
Customer information is encrypted and safely stored in the bank’s system. Not just branch staff but also IT staff cannot have discretionary access to the information.
We take due care to ensure security by thoroughly conducting personal identification, using different security media and initializing password if error occurs, so you can be reassured to use the Internet banking.

8. What are the options in Internet Banking? (What functions can I use in Internet Banking?)
Answer: You can do inquiries (balance inquiry, credit/debit transaction inquiry, borrowing inquiry, check inquiry), fund transfer (immediate transfer, transfer at preset time, transfer to and from several accounts) and personal information change.

9.     How can I see my balance?

Answer: Log onto the Internet banking using your certificate, go to online banking, Internet banking, and inquiry menus and then you can see your balance.

11.     Can I sell my funds online?

Answer: You cannot sell your funds via Internet banking provided in English (It is available in Internet banking provided in Korean)

12.     How can I transfer money via Internet Banking?
Answer: Log onto the Internet Banking using your certificate and go to the menus of online banking, Internet banking and money transfer. To transfer funds, transfer password and security card number (or OTP card) are required.

13.     How can I pay my bills via Internet Banking?

Answer: You cannot pay bills on the Internet banking site in English (it is available in Internet banking in Korean)

Tip: You can pay your bills with your cash card or credit card if you use giro machine at branches of SCFB.

14.     Can I use Internet Banking to purchase things in Korea?

Answer: If you buy things on a web site and choose account transfer for your payment, you can pay from your account via SCFB Internet Banking. However, if settlement account is overseas account, you cannot pay via Internet banking since Internet overseas remittance service is not provided.

15.     I use Internet Banking of other Korean bank, can I still use your Internet
Banking on the same computer?

Answer: You should come to our branch and apply for Internet banking service. And then go to SCFB web site and go to the menu of “Registration of other institution’s certificate” of certificate center, where you should register the certificate issued by other institution and stored at your computer’s hard disk or portable storage media such as USB and then you can use SCFB Internet banking.
 
16.     What are computer and Internet requirements for Internet Banking?

 Answer: You cannot use our Internet banking on McIntosh computer, Linux OS, Windows Vista 64-bit-OS (You can use it on Vista 32-bit-OS). Explorer of version 5.5 – 7 shall be used.

17.     What should I do if I transfer money to a wrong person and I don’t speak Korean?
Answer: If you transfer money via Internet banking, you cannot cancel the transfer. In such case, you should come to branch and request return of funds. When you request return, in most cases, funds are returned. (It may take more time if funds are transferred to accounts at other banks.) However, sometimes fund recipient uses up the transferred money and willfully avoids returning the funds, in which case, you may have to go through legal proceeding such as lawsuit.

18.     Can I send money overseas via Internet banking?
Answer: Currently, Internet banking service in English cannot support overseas remittance service. However, the function is under development and you can use overseas remittance services soon with no inconvenience. If it is regular remittance, you can register some information at a branch and proceed in ATMs.

20.     Can I open/close some account via internet banking?
Answer: Expatriates should come to branch to open/close account.

Ⅵ. Secured Loan(Deposit secured, Mortgage loan)

1. What is secured loan?

Answer: The Bank can provide loans secured by repayment source such as deposit, beneficiary certificate, real estate property etc.
a. Deposit-secured loan: By receiving loans secured by deposit or beneficiary certificate, depositor can have financing while preventing loss incurred on early termination or repurchase.
b. Real estate-secured loan: Customer can finance purchase of real estate property or other purpose by pledging real estate assets. There is no specific qualification for obligor. Provided, however, that loans to the following people are restricted: those on bad credit list, those with no income, those who have defaulted on other loans, minors, foreign non-residents or those who or whose spouse has already loans secured by real estate asset at the time of loan application. Only those who meet the standard debt to income (DTI) ratio can apply for the loan. (For differentiation of foreign resident from non-resident, go to page XX)

Tip: Even if customer has good credibility abroad, financial service is not provided based on overseas credit check. Therefore, instead of receiving unsecured loan, secured loan is much easier to receive and also it provides lower pricing, benefiting customer. Please consult with your RM for detailed terms and conditions of loan agreement including interest rate.

c. 예금담보 대출: 예금주는 예금 및 수익증권을 담보로 제공하여 대출을 받음으로써 중도 해약이나 환매로 인한 손해를 방지하면서 자금을 지원받을 수 있습니다.
d. 부동산담보대출: 부동산 담보를 통하여 부동산 구입이나 일반자금 용도로 사용하실 수 있습니다. 차주의 자격에는 제한이 없으나, 신용불량정보등록 대상자, 소득이 없는자, 타 대출이 연체중인자, 미성년자 및 외국인 비거주자에게는 제한되어 있습니다. 또한 대출신청시 배우자를 포함하여 기존의 부동산 담보대출을 보유하고 있거나, 연소득 대비 대출총상환비율( DTI: Debt to Income)이 해당 요건을 충족하여야 대출신청이 가능합니다.            

Tip: 외국에서 본인의 신용도가 아주 높다 할지라도 한국에서 해외의 신용도를 체크하여 금융서비스를 제공하는 시스템이 적용되지 않습니다. 따라서 신용대출을 받는 것 보다는 담보를 제공하여 대출 서비스를 받는 것이 훨씬 용이하고 저렴한 이자혜택을 받을 수 있으므로 유리하다고 말씀드릴 수 있습니다. 이율 등 대출 세부조건은 담당 RM과 상의하시길 바랍니다.

2. What other loans are available?

Answer: Unsecured loan is available but there are strict requirements in many cases and interest rate is higher than secured loans. Therefore, secured loan is more recommendable.

3. How much can I borrow?

Answer: The answer is divided into two parts depending on collateral types.
a. In the case of deposit-secured loans,
- In the case of deposit, time deposit and CD, Loan to Value ratio of up to 100% is accepted.
- In the case of beneficiary certificate, approved ratio is pre-determined per fund and thus customer should have discussion with his/her RM. (Generally in the case of bond type, the ratio is 79~80% and in the case of equity type, the ratio is 50%)
- In the case of foreign currency time deposit, Loan to Value ratio of up to 85% is accepted.
b. In the case of mortgage
- Up to 60% of appraised value of collateral can be borrowed.
- Houses to be pledged: apartment, residential house, officetel, commercial building etc.
- How to appraise collateral:
- If the collateral is apartment, price of general transaction quoted at KB’s real estate market value menu or lower will apply.
- If the collateral is row house, value appraised by external appraisal agency will apply. 

c. 예금담보대출의 경우
- 예금, 적금, CD의 경우 100% 담보비율이 인정됨.
- 수익증권의 경우 펀드별 승인 비율이 따로 정해져 있으므로, 담당  RM과 상의가 필요함. (일반적으로 채권형의 경우 79~80%, 주식형의 경우 50%)
- 외화 정기예금은 85% 담보비율이 인정됨.
d. 주택담보대출의 경우
- 담보평가 금액의 60%이내까지 가능합니다.
- 담보대상 주택: APT, 주택, 오피스텔, 상가 등
- 담보물 감정 방법:
- 대상물건이 APT인경우: 국민은행 부동산시세의 일반거래가 이하 적용
- 대상물건이 연립주택인 경우: 외부감정기관 의뢰결과에 따름.

4. I am an expatriate working for a long time in Korea. Now, I want to buy a house in Korea while I am living here. What do I need to get a loan?

Answer: The same criteria apply to expatriates as to Koreans. Required documents are alien registration card, seal, certificate of seal impression, contract of house sale and proof of income. If the customer is married, certificate of alien registration issued by the Immigration Office and the spouse’s ID are additionally required. The following documents can be used as proof of income:
- In the case of wage earner: receipt for earned income tax (for the previous year) and itemized pay statement for the recent three months.
- In the case of business income earner, certificate of income or receipt for withholding tax for business income issued by tax office.
- In the case of real estate rental income earner, certificate of income issued by tax office and certificate of register.
*To have certificate of seal impression, make your own seal and apply for the issuance at the dong (village) office of your address.

외국인에게도 국내인과 동일한 조건이 적용됩니다. 준비하셔야 하는 서류는 외국인등록증, 인감도장, 인감증명서, 주택매매계약서, 소득증빙서류가 있습니다. 이외에 기혼자일 경우에는 출입국관리소에서 발급받은 외국인등록사실증명서와 배우자 신분증이 추가로 필요합니다. 소득증빙가능 서류는 다음과 같습니다.
-근로소득자인 경우: 근로소득원천징수영수증(전년도) 및 최근 3개월 급여명세표
-사업소득자인 경우: 세무서에서 발급한 소득금액증명원 또는 사업소득원천징수영수증
-부동산임대소득자인 경우: 세무서에서 발급한 소득금액증명원과 등기부등본
*인감증명서는 본인의 인감도장을 만드셔서 본인의 주소지관할 동사무소에서 신청하시면 발급받을 수 있습니다.

5. Can I obtain a loan secured on my property outside Korea?

    Answer: You cannot use property outside of Korea because it is hard to appraise property abroad.
    Tip: You can borrow money from a bank of the country where property is located with such property securing the loan and then have the loan remitted to Korea. Please consult your RM about cross-border remittance.
해외의 부동산의 경우 담보평가가 어렵기 때문에 담보로 사용할 수 없습니다.

    Tip: 해외부동산을 담보로 제공하여 현지 은행에서 담보대출을 받으신 후 해당 자금을 국내에서 송금 받아 사용하실 수 있는 방법도 있습니다. 해외 송금과 관련된 문의는 담당 RM과 상의 하시기 바랍니다.

6. What are requirements to get a loan secured by deposit for a foreigner in your bank?

Answer: The Obligor’s ID (alien registration card) and deposit passbook to be pledged will suffice .

7. How long does it take to get a secured loan after my application is approved?

a. Deposit-secured loan: the loan can be provided on the day of loan application.
b. Mortgage: it takes three to five days from day of loan application. 
c. 예금담보대출: 예금담보 대출은 당일 신청 시 당일 지급 가능합니다.
d. 모기지론: 대출 신청일로부터 3~5일정도의 시일이 걸립니다.

8. What if my application is approved but I changed my mind to get a loan?
Before your loan is booked, you can cancel your application anytime. However, once loan is booked, you cannot cancel the loan so you should repay the full amount. In this case you should pay prepayment fee, thus please take this into consideration before applying for loan. 

9. Can I have a fixed rate?
    Answer:
a. In the case of deposit-secured loan, fixed rate is not available. CD + spread will apply.
b. In the case of mortgage, fixed rate is available. 
Tip: Different interest rate tables will apply to different mortgages depending on tenor and terms and conditions. Please consult the responsible person for details.

10. Are there any hidden charges?
Answer:
a. Deposit-secured loan: There is stamp duty. In the case of petty loan of KRW20MM or less, stamp duty is waived. But if loan exceeds KRW20MM, different stamp duty will apply ranging from KRW20K to KRW350K depending on loan amount.
b. Mortgage: There is real estate collateral investigation fee and stamp duty. Real estate collateral investigation fee is KRW100K and for stamp duty, like deposit-secured loan, different amounts will apply when loan exceeds KRW20MM.
c. 예금담보대출: 인지세가 있습니다. 20백만원이하의 소액대출의 경우에는 인지세가 면제되나 20만원 초과시부터는 2만원부터 대출금액에 따라 35만원까지 차등적용됩니다.
d. 모기지론: 부동산담보조사료와 인지세가 있습니다. 부동산담보조사료는 10만원이며 인지세는 예금담보대출과 같이 20백만원 초과금액에 따라 차등 적용됩니다.

11. Can I borrow again in the future?
Answer: There is no restriction on number of times you get loans.

12. I need a car loan. Can you help me?
Answer: SCFB does not provide auto loan. If you can secure your loan, you can borrow money using collateral.
  
13. I don’t live in Korea but I have business here. I visit Korea every month or two. Am I still eligible to get a loan?
Answer: If you meet obligor’s qualification and if you can manage your loan to ensure you do not default on the loan by paying attention to payment due date, there is no restriction on getting loans.

14. What are the common reasons to reject my application?
Answer: If collateral’s appraised value is less than the loan amount you applied for, loan cannot be provided. Additional collateral is required.

Ⅶ. FX banking(Money exchange, Overseas remittance)

※ In the following cases, money can be exchanged or remitted for expatriates:

1. When the foreign currency that expatriate has carried into Korea or inwardly remitted foreign currency is converted into Korean won, money can be exchanged up to the conversion volume(referred to as “up to the sales volume”). Sales volume shall be checked against the receipt issued by the bank when the foreign currency was converted into Korean or against certificate of purchase of foreign exchange.
 2. The income expatriate legitimately has earned in Korea can be fully remitted or converted and carried out of the country.
3. Regardless of the above 1 or 2, expatriate can exchange money up to U$10,000 during his/her stay counting since his/her most recent arrival.
        - Money exchange shall be indicated on the back of passport, (date, amount, branch) which will enable to manage the limit of U$10,000. If expatriate leaves Korea and comes back, the date of the most recent arrival will change and thus the limit of U$10,000 will be newly counted therefrom.  
 Note: A person can remit money up to U$50,000 per year by designating bank (designat 08) and submitting passport only without proof of income for remittance reason 612 or 613 – Regulation amended as of June 2, 2008.
1. 외국인이 국내 입국시 가지고 들어온 외화나 타발송금 받은 것을 원화로 환전한 실      적범위내: '매각실적범위내'라고 한다. 매각실적은 은행이 원화로 환전해 줄 경우 발행한 영수증이나 외국환매입증명서를 받아서 확인한다.
2. 외국인의 국내소득 범위내: 외국인이 정당하게 국내에서 취득한 소득은 전액 송금가능하고 환전하여 직접 휴대반출하는 것도 가능하다.
3. 상기 1,2번과 상관없이 최근입국일이후 체류기간중 미화1만불 까지 환전만 가능함.
  - 여권뒤에 환전한 내용을 표기해야 한다(날짜,금액,지점명): 표기를 해야 1만불 한도관리가 가능함. 환전 후 외국에  나갔다 다시 오시면 최근입국일이 바뀌므로 다시 1만불 가능하다.  
※ 동일인 기준 연간 미화5만불까지는 소득증빙 자료 없이 여권만으로 지정등록 (지정 08) 하여 송금사유 612,613으로 송금가능함(환전 불가) - 2008.6.2 규정개정

Money exchange
1. I need to exchange my home currency to KRW. Where should I go?
Answer: You can exchange the following currencies
- Currencies that can be bought/sold:
USD, JPY, GBP, CAD, CHF, HKD, SEK, AUD, DKK, NOK, SAR, KWD, BHD, AED, SGD, NZD, CNY, THB, EUR (19 currencies in total)
    - In the case of the following currencies, outward and inward remittance can be done and purchase (collection) of foreign currency check can be conducted: 
USD, JPY, GBP, CAD, CHF, HKD, SEK, AUD, DKK, NOK, SGD, NZD, THB, EUR(14currencies in total)
- Traveler’s check (Amex)
USD, JPY, GBP, CAD, AUD, EUR (six currencies in total)

2. Why should I have passport?
Answer: Pursuant to Real Name Financial Transaction Act and Foreign Exchange Transaction Act, expatriates are required to have passport to conduct transaction.

3. Why do you stamp on my passport? No one has authority to stamp on it except immigration officer.
Answer: Pursuant to Foreign Exchange Transaction Act, banks shall manage limit of expatriate’s money exchange in Korea. Therefore, all banks are required to stick to the principle of indicating the fact of money exchange, date and amount on the back of passport.
외국환거래법에 따라 은행은 외국인의 국내 환전 실적 한도관리를 하여야 합니다. 따라서 모든 은행은 여권 뒤에 환전사실, 날짜, 환전금액을 표시하는 것이 원칙입니다.

4. Is there any regulation on exchange money? How much can I change?
Answer: As explained earlier, you can change money up to the amount of foreign currency you carried into Korea, inwardly remitted amount or your after-tax income. Without such evidence, you can exchange money up to U$10,000 during your stay.
상기에 진술한 바와 같이, 외국인이 국내에 입국시 가지고 들어온 외화나 타발송금 받은 한도 또는 본인의 세후 급여한도 내에서는 환전이 가능합니다. 이러한 증빙 없이는 체류기간중 1만불까지만 환전 가능합니다.

5. Can I directly exchange SGD to USD cash?
Answer: Regrettably, in Korea you cannot directly exchange or remit foreign currency into another foreign currency. You should first exchange foreign currency you have into Korean won and then exchange Korean won into the foreign currency you want.
Tip: Receive prime rate via your RM.
안타깝게도 한국에서는 외국통화끼리 직접환전 또는 송금할 수 있는 방법이 없습니다. 가지고 있는 외국 통화를 원화로 환전하였다가 원하는 통화로 재환전 하여야 합니다.
Tip: 담당 RM을 통해 우대환율을 제공받으십시오.

6. Why do I need to pay cash withdrawal fee, I am just taking my money in my USD account.
Answer:
When customer receives foreign currency directly from the bank without going through money exchange, the foreign exchange bank will incur the cost for exporting/importing foreign currency and lose the opportunity of earning gain on sales of foreign currency. Therefore, the bank charges foreign currency cash fee.
e.g.) Such fee will be charged when inwardly remitted money is withdrawn in foreign currency. And this is not the case when foreign currency is withdrawn after cash is deposited.
-Cash fee: foreign currency transaction amount x USD, JPY 1.5% ( 2.5% in the case of other currencies) * basic rate of exchange
외국환 거래에 있어서 환전을 통하지 않고 외화현찰을 직접 지급하는 경우, 외국환 은행은 외화의 수출입에 관련되는 비용과 외화현찰을 보유함으로써 발생하는 여러 가지 비용이 드는 반면 외환을 매매함으로써 얻을 수 있는 매매익이 상실이 되기 때문에 이 대가로 외화현찰수수료를 징수합니다.  예) 현찰로 입금한 외화를 출금하는 것이 아닌 경우로, 타발송금 받은 내역을 외화 현찰로 인출하는 경우 등이 이에 해당합니다.
-현찰 수수료: 외화 현찰거래금액 x USD, JPY 1.5%(기타통화 2.5%) * 매매기준율
-다음과 같은 외화예금 거래에서는 현찰수수료를 면제 또는 감면할 수 있습니다.
*외화예금에 외화 현찰을 입금하는 경우: 면제
*외화예금에서 외화 현찰로 입금한 범위 내에서 인출하는 경우: 면제
*외화현찰로 입금한 후 송금하는 경우: 1%의 수수료
 (단. 예치기간이 7일을 초과하는 경우에는 면제할 수 있음.)
*현찰이 아닌 대체로 입금한 외화예금을 현찰로 인출하는 경우: 예치기간이 1개월을 초과할 경우에 한하여 현찰 수수료의 50% 감면)

Overseas Remittance
1. Where can I transfer money to?
Answer: You can transfer money to almost all countries. However, there is country list (block country) to which you cannot remit money in USD. These countries are subject to asset freezing policy by Office of Foreign Asset Control (OFAC) and if money is remitted to those countries and confiscated by OFAC, the money will not be returned until the policy is lifted, so it requires due care.
   ▶ Fully restricted countries: North Korea, Iran
   ▶ Partially restricted countries: Myanmar, Cuba, Sudan
   ▶ Countries with limited restriction: Syria, Iraq, Sierra Leone, Liberia, Libya, Zimbabwe, Congo, Rwanda, Balkans 
Regardless of currency, cross-border remittance is not available to Iran or North Korea.
거의 모든 국가로 송금이 가능합니다. 다만 USD통화로 송금이 불가능한 국가 List (Block Country)가 있습니다. 이는 미국의 대외자산관리국(OFAC: Office of Foreign Asset Control)으로부터 자산 동결조치가 실행되고 있으며, 만약 송금 취결되어 OFAC에 압류되면 동 조치가 해제될 때까지 절대로 송금대전을 돌려 받을 수 없기 때문에 주의가 필요합니다.
   ▶ Full Restriction 국가 : North Korea, Iran
   ▶ Partial Restriction   : Myanmar, Cuba, Sudan
   ▶ Limited Restriction  : Syria, Iraq, Sierra Leone, Liberia, Libya, Zimbabwe, Congo, Rwanda, Balkans 
    또한 통화와 관계 없이 이란(Iran)과 북한지역으로는 해외송금이 불가합니다

2. How long does it take to receive the money on overseas account and vice versa?
Answer: It depends on the time difference between intermediary settlement bank and the final receiving bank and on processing turnaround time but usually takes two to five days.
중간 결제 은행 및 최종 수취은행의 시차 및 업무 처리 속도에 따라 차이가 있을 수 있습니다. 보통은 2일에서 5일 정도가 소요됩니다.

3. What is the maximum amount I can transfer?
Answer: As explained earlier, you can transfer money up to foreign currency you brought into Korea, inwardly remitted money or your after-tax income. If you designate (pay item) SCFB as foreign exchange bank without submitting such evidence, you can transfer money up to USD50,000.
상기에 진술한 바와 같이, 외국인이 국내에 입국시 가지고 들어온 외화나 타발송금 받은 한도 또는 본인의 세후 급여한도 내에서는 얼마든지 송금이 가능합니다. 이러한 증빙 서류 없이 제일은행을 외국환은행으로 하여 지정(급여항목)하시면 USD 50,000까지 송금가능합니다.

4. How much does it cost to transfer funds via Standard Chartered First Bank?
Answer: In accordance with “International Telegraphic Transfer Charge Table” of WB Cash & Trade Product Fee Procedure, telegram charge and remittance fee will be charged as follows:
      ☞ Remittance fee:  U＄2,000 or less (KRW7,000)  
                      U＄ 4,000 or less (KRW10,000)
                      U＄ 6,000 or less (KRW12,000) 
                      U＄ 8,000 or less (KRW15,000)
                      U＄ 10,000 or less (KRW18,000)
                      U＄ 20,000 or less (KRW20,000)
                      U＄ 40,000 or less (KRW25,000)
                      Over U＄ 40,000 (KRW30,000)
       ☞ Telegram charge: KRW8,000       
   Tip: SCFB charges preferential fee rate depending on customer rating.

5. Can I set up regular transfers for future dates e.g. payment for home loan overseas etc?
Answer: Regrettably, automatic fund transfer is not provided in the case of cross-border remittance.
Tip: Receiving preferential foreign exchange rate in consultation with your RM may be a far better approach. 단, 근무하는 회사에서 임직원을 대상으로 단체로 등록할 수 있습니다. 자세한 사항은 이양훈 부장님과 상의하세요.

6. What can I do if the beneficiary claims he/she didn’t receive the money?
Answer: You should ask the remitting branch why the funds are held back. The beneficiary cannot receive the money if, for instance, the beneficiary uses family name involved in international terrorism or related to politician or if there is error in beneficiary information (name, account number etc.) or for some other reasons. You can amend or cancel your instruction for remittance according to the bank staff’s explanation about the reason.
송금을 보낸 지점에서 어떠한 사유로 자금이 holding되고 있는지 문의하여야 합니다. 수취인이 국제테러, 정치인관련 family name을 사용하고 있거나, 수취인 정보(성명, 계좌번호 등)에 에러가 있을 경우 등 여러 가지 사유에 의해서 받지 못하실 수도 있습니다. 해당 사유에 따른 직원의 안내에 따라 송금내용을 amend하시거나 송금 취소 조치를 하실 수 있습니다.

7. My family just sent me money but I didn’t receive it. What should I do?
Answer: As explained above, the remitter should ask the relevant branch to deal with it.

8. What is SWIFT code, ABA #, IBAN code, institution #?
Answer:   Remittance processing system of each country can process remittance automatically, promptly and accurately only when bank information is input in the form of bank code of each country SWIFT BIC CODE.
The type and input example of bank code of each country is as follows:
   - US ABA No.(Routing No. / Fed Wire No.): 9-digit-numbers ⇒ FW021000089
   - UK Sorting Code: 6-digit-numbers ⇒ SC778899
   - Germany B.L.Z. No.: 8-digit-numbers ⇒ BL00011122       
   - Australia BSB Code: 6-digit numbers ⇒ AU014002
-  Canada Transit Code: 5-digit-numbers (Branch No.), Institution No.: 3 digits (Bank No.)
- When you transfer money to Europe or in Euro, remittance will be automatically and promptly processed only when you use account number in IBAN (International Bank Account Number) CODE. If you do not provide IBAN CODE or BIC SWIFT CODE, remittance can be delayed or returned and fees may be charged.

9. Can I send myself money overseas through Internet banking?
Answer: You cannot conduct cross-border fund transfer via Internet banking.
Tip: It would be much better for you if you are charged preferential exchange rate and remittance fee via your RM rather than conducting cross-border remittance via Internet banking.

10. If I designate your bank as foreign exchange bank with my payment, can I go to other bank or branch?
Answer: Once you designate your foreign exchange bank, you can transfer funds only via that designated foreign exchange branch and you cannot transfer funds via other branches or other banks. If you are to continue to transfer funds, you should go through the procedure of changing the designation of your foreign exchange bank.

11. What do I need to bring to do overseas remittance?
Answer:
   a. Required evidentiary documents and ID (passport)
     - Passport only will be accepted for ID.
     - When foreign currency you brought into Korea or inwardly remitted foreign currency is to be remitted => certificate, receipt, itemized bill of purchase of foreign exchange or certificate of declaration of foreign exchange etc.)
     - When money is remitted based on your wage income => itemized pay statement or receipt for withholding tax issued by your company
(However, if money of USD50,000 or less is remitted, document for proof of income is not required.)
 
   b. Overseas remittance request form (at branch)
     - Overseas remittance request form shall be filled in by the remitter in his/her handwriting.
     - Detailed information such as the receiving bank, branch and the city and the country of the receiving bank, account etc.
     - Make sure receiving bank and other information is written in English full name.
     - If bank code or SWIFT Code of receiving bank is provided, remittance will be processed accurately and promptly.
   a. 증빙서류 및 신분증(여권)
     - 신분증은 여권만 가능함.
     - 국내 입국시 가지고 들어온 외화나 타발송금 받은 것을 송금하는경우: 외국환매입증명서, 영수증, 계산서 또는 외국환 신고필증 등)
     - 급여를 바탕으로 송금하는 경우: 회사에서 발행한 급여 명세표 또는 원천징수영수증
       (단, USD 50,000 미만 송금시에는 급여 증빙자료가 필요 없음)
 
   b. 해외송금의뢰서 (지점에 비치)
     - 해외송금의뢰서는 송금인이 반드시 자필로 기재.
     - 수취은행, 지점명, 수취은행이 소재하고 있는 국가, 도시명, A/C 등 상세정보
     - 수취은행 및 모든 정보는 영문 FULL NAME으로 작성되었는지 여부
     - 수취은행의 은행코드나 SWIFT Code가 있으면 송금이 정확하고 빠르게 처리됨

12. Are there regulations to bring/take back money to Korea/home country?
Answer: The aforementioned rule will apply to overseas remittance and the following rule will apply to bringing money to Korea from abroad.
- When you bring cash over USD10,000, you should declare it to the customs at the airport and receive “certificate of declaration of foreign exchange.”

- If you transfer money to Korea via overseas remittance, different declaration items will apply depending on purpose of funds. However, if you don’t have specific purpose of transferring money in, you may transfer money in without submitting evidentiary documents or declaring to the relevant authorities as the case constitutes “bringing assets from abroad to Korea.” Since it constitutes “bringing assets from abroad to Korea,” you may take the money back to other country. However, if more money is to be taken back to other country than was brought into Korea (e.g.: investment in Korea and other income etc.), you should prove the source of funds.
해외로 송금하는 데에는 상기에 언급한 바와 같으며, 해외의 자금을 국내로 들여 오는데에는 다음과 같은 규정이 있습니다.
- 현찰로 미화 1만불을 초과하는 금액을 가지고 입국하는 경우 공항세관에 신고 후 “외국환신고확인필증”을 발급 받으셔야 합니다.

- 해외송금으로 자금을 들여오는 경우는 들여오는 자금의 목적에 따라 신고사항이 다릅니다. 하지만 자금반입의 뚜렷한 목적이 없을 경우는 “해외재산국내반입”이라는 항목으로 증빙서류와 관계기관 신고 없이 자금 반입이 가능합니다. 이때 “해외재산국내반입”항목으로 자금을 가지고 들여온 만큼 다시 해외로 반출이 가능하나 차후에 반출하는 금액이 당초 반입금액보다 많을 경우(국내 투자 및 기타 소득 등) 자금출처를 입증하셔야 합니다.

Ⅷ. Credit card
1. What should I have to get a credit card?
Answer: To get credit card, you should submit alien registration card, annual salary contract (If you have one year or more until the expiry of contract), and employment certificate. The card applicant will be assessed based on documents he/she submitted, transaction records and credit rating in Korea. Even if the applicant has good credit rating and wealthy assets in a foreign country, it will not be considered in the assessment and thus the applicant may not have as good results as he/she would have in the country.
If credit card cannot be issued due to lack of applicant’s transaction records, you can get credit card secured by deposit or get check card first and use it and after your transaction record and credit rating improves, you can apply for credit card again.
Tip: Please discuss the card type you want and the limit with your RM.
 신용카드 발급을 위해서는 반드시 외국인등록증, 연봉계약서(임기 1년이상 남은경우), 및 재직확인서류가 필요합니다. 그리고, 카드발급심사는 신청인이 제출한 서류 및 국내에서의 거래실적 및 신용등급 등을 기준으로 평가하게 됩니다. 따라서, 외국인의 경우에는 해외에서 좋은 신용등급과 많은 자산을 가지고 있다 하더라도 이를 심사과정에 반영할 수 없기 때문에 불리하게 작용될 수 있습니다.
만약, 신청인의 거래실적 부족 등으로 인하여 신용카드 발급이 어려운 경우에는 예금을 담보로 신용카드를 발급 받으시거나 체크카드를 발급받아 사용하신 후 거래실적 및 신용등급이 좋아진 후에 다시 신청하는 방법이 있습니다.
Tip: 본인이 원하시는 카드 선택과 한도확인을 위해서 담당 RM과 상의하시는 것이 좋습니다

2. How long does it take to receive a credit card?
Answer: It takes about one week after card application.

3. How can I register my PIN number?
Answer: You can register your PIN number via SCFB’s telebanking service or at branch.

4. Is there a credit card with cash withdrawal and transportation option?
Answer: In addition to main functions of card, most credit cards contain cash withdrawal and transportation payment options. Just tell us what card functions you want.

5. Can I have domestic credit line increase?
Answer: Yes, you can have domestic credit line increase. However, assessment is required just the case of card issuance.

6. Can I have USD line increase?
Answer: Since overseas limit of card for both domestic and overseas use is automatically determined based on the total limit of the card, you can increase overseas limit by increasing the total card limit. You can also increase only overseas limit temporarily(one to three months). However, decision will be made on whether or not the limit will increase based on separate assessment.

7. For secure credit card, may I cancel the term deposit before I cancel the credit card?
Answer: Since the deposit is pledged to issue credit card, you cannot cancel the deposit but you can replace the deposit with different type of deposit. However, if you show good transaction records and get good credit rating some time after card issuance, you may use credit card with your own credit only with no security after going through assessment.

8. I don’t have a credit in Korea, but I have a good credit history in my home country. Will it help me to get a bigger credit?
Answer: As explained earlier, your credit history abroad will not be considered in Korea.
Tip: If you build credit history by conducting many transactions with SCFB, you will enjoy many benefits as VIP customer.

9. Can I switch my credit card payment account to another account?
Answer: Yes, you can switch your credit card payment account to another account you want.

10. Can I change card payment date?
Answer: Yes, you can change the card bill payment date.

11. Is it possible to receive an English version of card bill?
Answer: Our card alliance company BC Card does not issue card bill in English.
Tip: You can see the card bill via your RM.

12. I would like to have card bill to my house in overseas. Is it possible?
Answer: BC Card does not send card bill to overseas address for many reasons.
Tip: If you request e-mail bill, you can check your bill conveniently.

13.  Can I pre-pay some amount before the payment date to get more line?
Answer: Yes, you can pre-pay full or partial amount of card bill for lump sum payment items used in Korea before the payment date. You can pre-pay the card bill until two business days before card payment date. When you nearly use up your limit, if you pre-pay the bill, the limit will be restored as much as you pre-pay.
회원이 국내에서 이용한 일시불 카드 사용액의 전부 또는 일부를 결제일 이전에 미리 결제할 수가 있습니다. 선결제 가능 기간은 본인의 카드 결제일 2영업일 이전까지 가능합니다. 본인의 한도를 거의 다 사용하셨을 경우 미리 선결제를 하시면 선결제 하신 금액만큼 카드 한도가 복원됩니다.

14.  Is there any way to pay some portion (like 5%,10% etc.) of my card spent amount?
Answer: After you buy things with lump sum or installment payment condition, instead of paying card bill at the payment date, you may choose to pay fee plus a portion of principal according to the revolving payment ratio and payment amount that you have chosen and this is called Easy-Pay. You may apply for revolving payment until five business days before card payment date.
회원이 일시불 및 할부 구매 후 지정된 결제일에 전액 결제하지 않고 고객이 선택한 회전결제비율 및 결제 금액에 따른 원금 및 소정의 수수료만 결제할 수 있는데 이를 Easy-Pay 라고 합니다. 회전결제 신청은 본인의 카드 결제일 전 5 영업일까지만 가능합니다.
- 회전결제 대상: 일시불 및 현금서비스 이용분
- 최소 회전결제 비율 및 최소 결제금액: 5%, 5만원
- 최전결제 수수료: 일시불 14.9%, 현금서비스 22.5%, 연체이율 28%

15.  Sometimes I am asked if I am willing to pay by installment or the full amount at a store. Which is better and why?
Answer: When you pay via credit card with installment payment condition, you will be billed for card use during the installment period. Although sometimes department store or large hypermarket offers interest-free installment payment for two to three months, when you pay with installment payment condition at small stores, you should pay interest in most cases. Therefore, you might want to use interest-free installment payment or consider your card used amount when you are to use installment payment function.
신용카드 할부로 결제할 경우, 카드 결제 금액이 할부기간으로 나뉘어 결제 청구됩니다. 보통 백화점이나 대형마트 같은 경우 2~3개월 무이자 할부 기간을 적용하기도 하지만 대부분의 소형 점포에서 할부 결제를 하는 경우 일정의 이자를 지불하셔야 합니다. 따라서 할부기능은 무이자 할부를 이용하거나 또는 본인의 카드 사용액을 고려하여 사용하시는 것이 좋습니다.

16.  I have already had an air-mileage card. Is it possible to add the old mileage up to the new card, if the air company is the same?
Answer: Your mileage points accrued from card use will be added to your existing mileage points.

17.  My card is expiring next month. How can I receive a new card?
Answer: Depending on your card use and payment records, your card renewal will be determined. Please check that with branch.
Tip: Please check with your RM whether your card is renewed and let him/her know the address for card delivery and the card will be delivered to the address you want.

18. I lost my card. What should I do?
Answer: You should immediately call our Call Center 1577-7744 to report the card loss. Once the loss is reported, the loss-reported card will be suspended for use. Check with the branch nearby if there is fraudulent use of the card. If it there is fraudulent use, please proceed with compensation procedure. If there is no fraudulent use, apply for re-issue.

19. I would like to cancel my card. What should I do?
Answer: Please call our Call Center (1577-7744) or come to the branch nearby to cancel the card.

20. What are the common reasons for rejecting my credit card application?
Answer: Card will be issued to expatriate only when he/she passes branch manager’s assessment of his/her credibility, repayment capabilities and whether he/she resides in Korea. Thus, there should be domestic address (hotel address not accepted) to receive card bill and alien registration card shall be valid for over one year. Document is required to prove repayment capabilities (itemized pay statement, employment contract) and employment contract shall be valid for over one year. If these requirements are not met, card may be rejected.
외국인은 국내거주여부, 신용상태, 상환능력 등을 심사하여 이상이 없다고 영업점장이 인정하는 경우에만 카드 발급이 가능합니다. 따라서 카드 사용명세서 등을 수령할 국내의 주소(호텔포함 안됨)가 있어야 하며, 외국인 등록증 유효기간이 1년이상 남아있어야 합니다. 또한 상환능력을 입증하기 위한 자료(급여명세표, 임용계약서)가 필요하며 1년이상 계약이 유효하여야 합니다. 이러한 요건이 충분하지 않을시 거절사유가 될 수 있습니다.
Tip: 아무런 증빙 자료 없이 당행 VIP member가 되시면서 예금을 담보로 하여 신용카드를 발급받으실 수 있습니다. 해당 내용에 대해서 담당 RM과 상의하십시오.