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- Once Internet currency exchange(request) is completed, you cannot cancel or correct the transaction.
- When you request Internet currency exchange, 'desired date for pick-up of foreign currency' can be disignated up to 6 month from the transaction date.
- You have to pick up foreign currency at the date you designated as desired pick-up date.
(however, if you want to pick up foreign currency on the Internet transaction date or before/after the desired pick-up date, be sure to call the branch before you visit.) - In case you do not get the foreign currency for up to 7 business days from the next day of the designated date, the Bank will re-exchange it into your Korean won withdrawal account. Exchange rate applicable in this case is Bank's rate(0.04% lower than customer middle rate) at the time of re-exchange, please beware that profit or loss coming out of such transaction is to be borne by the customer.
- Limit for currency exchange via Bank's Internet banking is as below.(In case you want to change more than 50,000 U.S. dollars, you can exchange additionally at Bank's branch.)
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Type of currency exchange Currency exchange limit(one time/ per transaction) Transaction tips for currency exchange Overseas travel expensse 50,000 U.S dollars equivalent or less - Overseas travel expense, possession purpose currency exchange
- If the dame individual. on the same date, transacts over 10,000 U.S, dollars equivalent, details of the transaction are to be reported to National Tax Service.
- Overseas staying expense( student studying abroad & overseas staying national other than student studying abroad )
- The Bank is to be designated as 'transaction foreign exchange bank'
- If the yearly(Jan.1 ~ Dec.31 period) sum total(currency exchage & remittance) transacted via both branch and Internet exceeds U.S.100,000 dollars equivalent, details of the transactions are to be reported to National Tax Service.
Possession purpose Overseas staying expense(Including student studying abroad) - Overseas travel expense, possession purpose currency exchange
- Transaction foreign exchange bank designation quidance
- Transaction foreign exchange bank designation qualification etc.
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Category qualification for transaction foreign exchange bank designation Documents to be submitted stay preiod stay purpose Student studying abroad 6 months or longer study, academy·research, training admission certificate or receipt bill, enrollment evidencing documents etc. Overseas staying national other than student studying abroad over
30 days- business, culture, government affairs, technology training
- overseas training shorter than 6 months
- employment by domestic corporate and research center
business trip/temporary relocation certificate, overseas training evidencing document etc. issued by the head of an institution - Bring passport, resident registration card and visit closeset branch for designation
- Internet Transaction Conditions.
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Category Internet transaction (currency exchange & remittance) conditions Student studying abroad - From the next year of transaction foreign exchange bank designation, enrollment evidencing documents are to be submitted each year for transaction (however, no separate submission is needed for the year of transaction foreign exchange bank designation)
Overseas staying national other than student studying abroad - Internet transaction is no longer available after overseas stay period expires
- Exchange rate quoted on the Internet changes from time to time, changed exchange rate is automatically applied if exchange rate changes in the course transaction
- Other matters are to be dealt with by Bank's 'Foreign Exchange Transaction Basic Agreement'
