Go Back  Fodor's Travel Talk Forums > Destinations > Asia
Reload this Page >

What is the best way to purchase Korean currency?

What is the best way to purchase Korean currency?

Old Jul 17th, 2011, 09:42 PM
  #1  
Original Poster
 
Join Date: Oct 2006
Posts: 673
Likes: 0
Received 0 Likes on 0 Posts
What is the best way to purchase Korean currency?

My daughter is traveling to South Korea in about 10 days. Should we purchase a small amount of Korean currency here from the bank or just let her pull some out of the ATM in Seoul? She has a 4-digit PIN.
cferrb is offline  
Old Jul 17th, 2011, 10:17 PM
  #2  
 
Join Date: Feb 2003
Posts: 7,689
Likes: 0
Received 0 Likes on 0 Posts
I always like to have a little bit of local currency with me when I land, on the odd chance that the ATM at the airport is not working. There are also foreign exchange counters at the airport in Seoul where she can exchange money in person. The airport ATM will give a slightly better rate than in person exchange. In my experience a 4-digit pin is acceptable.

If she wants to have Won with her when she leaves the US, she should be able to get Won at her US airport. (If she is not flying out of an internatinal airport, then she may need to do this at her connecting international airport.) You could buy some from your local bank, but the exchange rate may not be great as Won is not a hugely traded currency. (Maybe for such a small amount you don't care about exchange rate loss.) She may be bettter off doing it at a US airport.
Cicerone is offline  
Old Jul 17th, 2011, 11:22 PM
  #3  
 
Join Date: Feb 2004
Posts: 23,074
Likes: 0
Received 0 Likes on 0 Posts
Just get it at an ATM at the Seoul airport. In the rare chance that all ATMs there are out of order, use a money exchange there. Those are almost always open and will still give you better rate than a money exchange in the US. Therefore, I see no reason to get any in the US.

The same is true for most countries in the world, though not all.
rkkwan is offline  
Old Jul 18th, 2011, 12:06 AM
  #4  
 
Join Date: Feb 2007
Posts: 198
Likes: 0
Received 0 Likes on 0 Posts
As others have stated, have her use her ATM card. At Seoul airport-right outside the customs area are many ATM machines. She should look for FOREIGN CARD on ATM screen. Or it could say ENGLISH FOREIGN CARD. Click that button and the machine will walk her through the steps.

I mentioned earlier on a previous post that I have found that Korean Bank ATMS WILL NOT accept Foreign ATM cards. I learned that the funky little 7-11, Family Mart or similar stores found throughout Korea will have an ATM machine. Use those...they always seem to accept foreign cards whereas the banks won't accept anything but a Korean card.

I am in Korea right now....and have used my Visa ATM (debt) card from my local back in the US and never had it fail. Also be sure to go online or call your bank to have the card authorized for overseas use. If you don't do this--it will not work. I hope she has a great trip...
gailmo is offline  
Old Jul 18th, 2011, 05:15 AM
  #5  
 
Join Date: Jan 2003
Posts: 29,049
Likes: 0
Received 0 Likes on 0 Posts
atm and/or change some $$ at the airport in korea
rhkkmk is offline  
Old Jul 18th, 2011, 10:19 PM
  #6  
Original Poster
 
Join Date: Oct 2006
Posts: 673
Likes: 0
Received 0 Likes on 0 Posts
Thanks everyone. Someone else suggested going to a bank in Koreatown here in LA and changing dollars to Won there. I think that will be a nice field trip before she leaves.
cferrb is offline  
Old Jul 18th, 2011, 10:41 PM
  #7  
 
Join Date: Feb 2004
Posts: 23,074
Likes: 0
Received 0 Likes on 0 Posts
I was just thinking about that. Yes, if you live in L.A., then the Korean banks at Koreatown can probably give you the best rate here in the US.
rkkwan is offline  
Related Topics
Thread
Original Poster
Forum
Replies
Last Post
dominiquejade
Europe
7
Mar 28th, 2016 11:16 AM
NeoPatrick
Europe
46
Dec 28th, 2014 11:51 AM
Hulalady
United States
7
Apr 20th, 2013 02:47 AM
Lauralew
Europe
5
Feb 24th, 2006 11:18 AM
jlcl
Europe
16
Sep 29th, 2004 02:29 PM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On


Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Do Not Sell My Personal Information


All times are GMT -8. The time now is 08:09 AM.